Can I retire at age 71 with 1,160,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$95,792$94,938$94,106$93,293$92,500$91,994
2 years$47,422$46,538$45,683$44,853$44,048$43,537
3 years$31,300$30,413$29,560$28,738$27,946$27,446
4 years$23,241$22,357$21,512$20,704$19,931$19,447
5 years$18,407$17,528$16,694$15,902$15,151$14,684
6 years$15,185$14,313$13,491$12,717$11,989$11,538
7 years$12,885$12,020$11,211$10,456$9,750$9,317
8 years$11,161$10,303$9,508$8,771$8,089$7,673
9 years$9,820$8,971$8,189$7,471$6,812$6,413
10 years$8,748$7,908$7,140$6,440$5,804$5,422
11 years$7,872$7,040$6,286$5,605$4,992$4,627
12 years$7,142$6,318$5,578$4,916$4,326$3,977
13 years$6,525$5,710$4,984$4,340$3,772$3,440
14 years$5,997$5,190$4,478$3,853$3,307$2,990
15 years$5,539$4,741$4,043$3,436$2,911$2,610
16 years$5,139$4,350$3,666$3,077$2,573$2,287
17 years$4,787$4,006$3,336$2,764$2,281$2,010
18 years$4,474$3,702$3,045$2,491$2,029$1,771
19 years$4,194$3,431$2,788$2,251$1,808$1,564
20 years$3,942$3,188$2,558$2,039$1,615$1,384
21 years$3,715$2,970$2,353$1,850$1,445$1,227
22 years$3,509$2,772$2,169$1,682$1,295$1,090
23 years$3,321$2,593$2,002$1,532$1,163$969
24 years$3,149$2,429$1,852$1,397$1,045$862
25 years$2,991$2,280$1,715$1,276$941$768
26 years$2,845$2,143$1,591$1,167$847$685
27 years$2,710$2,016$1,477$1,068$764$611
28 years$2,585$1,900$1,373$979$689$546
29 years$2,469$1,792$1,278$897$622$488
30 years$2,361$1,693$1,190$824$562$436
31 years$2,260$1,600$1,110$756$508$390
32 years$2,166$1,514$1,035$695$460$349
33 years$2,077$1,434$967$639$416$313
34 years$1,994$1,359$903$588$377$280
35 years$1,916$1,289$844$541$341$251
36 years$1,842$1,223$790$499$309$225
37 years$1,773$1,162$739$459$280$202
38 years$1,707$1,104$692$423$254$181
39 years$1,645$1,050$649$390$230$162
40 years$1,586$999$608$360$209$146
41 years$1,530$951$570$332$190$131
42 years$1,477$906$535$307$172$117
43 years$1,426$863$502$283$156$105
44 years$1,378$823$471$261$142$94
45 years$1,332$784$442$241$129$85
46 years$1,289$748$415$223$117$76
47 years$1,247$714$390$206$106$68
48 years$1,207$682$367$190$96$61
49 years$1,169$651$345$176$87$55
50 years$1,133$622$324$163$79$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,160,000, adding $2,403 every year, while hoping to spend $31,296 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 50/40/10 Blend
70$1,160,000$1,160,000$1,160,000$1,160,000
71$1,280,799$1,219,319$1,201,339$1,341,321
72$1,378,141$1,245,767$1,208,285$1,409,418
73$1,484,364$1,272,462$1,214,415$1,479,859
74$1,600,340$1,299,383$1,219,668$1,555,681
75$1,727,029$1,326,507$1,223,981$1,637,396
76$1,865,489$1,353,809$1,227,288$1,725,571
77$2,016,885$1,381,261$1,229,518$1,820,827
78$2,182,498$1,408,834$1,230,598$1,923,851
79$2,363,740$1,436,494$1,230,450$2,035,400
80$2,562,166$1,464,207$1,228,995$2,156,307
81$2,779,487$1,491,933$1,226,146$2,287,490
82$3,017,588$1,519,631$1,221,815$2,429,960
83$3,278,545$1,547,256$1,215,909$2,584,835
84$3,564,644$1,574,759$1,208,329$2,753,341
85$3,878,404$1,602,088$1,198,974$2,936,836
86$4,222,597$1,629,186$1,187,736$3,136,811
87$4,600,279$1,655,993$1,174,502$3,354,914
88$5,014,814$1,682,444$1,159,154$3,592,959
89$5,469,908$1,708,467$1,141,570$3,852,945
90$5,969,646$1,733,989$1,121,619$4,137,079
91$6,518,523$1,758,928$1,099,167$4,447,790
92$7,121,495$1,783,198$1,074,072$4,787,758
93$7,784,020$1,806,707$1,046,185$5,159,935
94$8,512,110$1,829,356$1,015,353$5,567,579
95$9,312,391$1,851,040$981,413$6,014,278
96$10,192,159$1,871,645$944,195$6,503,988
97$11,159,456$1,891,053$903,522$7,041,072
98$12,223,140$1,909,133$859,209$7,630,337
99$13,392,970$1,925,751$811,062$8,277,084
100$14,679,700$1,940,759$758,879$8,987,155