Can I retire at age 71 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$96,618$95,757$94,917$94,098$93,297$92,516
2 years$47,830$46,940$46,076$45,239$44,427$43,639
3 years$31,570$30,676$29,814$28,985$28,187$27,417
4 years$23,442$22,550$21,697$20,882$20,103$19,357
5 years$18,566$17,679$16,838$16,040$15,282$14,563
6 years$15,316$14,436$13,608$12,827$12,092$11,400
7 years$12,996$12,124$11,308$10,546$9,834$9,170
8 years$11,257$10,392$9,590$8,847$8,158$7,522
9 years$9,905$9,048$8,260$7,535$6,870$6,261
10 years$8,824$7,976$7,201$6,496$5,854$5,272
11 years$7,940$7,100$6,340$5,653$5,035$4,479
12 years$7,204$6,373$5,626$4,958$4,363$3,834
13 years$6,581$5,759$5,027$4,378$3,805$3,301
14 years$6,048$5,235$4,517$3,886$3,335$2,856
15 years$5,587$4,782$4,078$3,466$2,936$2,482
16 years$5,184$4,388$3,697$3,103$2,595$2,164
17 years$4,828$4,041$3,364$2,788$2,301$1,893
18 years$4,512$3,734$3,071$2,513$2,046$1,659
19 years$4,230$3,461$2,812$2,270$1,824$1,458
20 years$3,976$3,216$2,580$2,056$1,629$1,284
21 years$3,747$2,995$2,373$1,866$1,458$1,132
22 years$3,539$2,796$2,187$1,697$1,307$1,000
23 years$3,350$2,615$2,020$1,545$1,173$884
24 years$3,176$2,450$1,868$1,409$1,054$783
25 years$3,016$2,299$1,730$1,287$949$694
26 years$2,869$2,161$1,605$1,177$855$615
27 years$2,734$2,034$1,490$1,077$770$546
28 years$2,608$1,916$1,385$987$695$485
29 years$2,491$1,808$1,289$905$628$431
30 years$2,382$1,707$1,201$831$567$383
31 years$2,280$1,614$1,119$763$513$341
32 years$2,185$1,527$1,044$701$464$303
33 years$2,095$1,446$975$645$420$270
34 years$2,011$1,371$911$593$380$241
35 years$1,933$1,300$852$546$344$214
36 years$1,858$1,234$797$503$312$191
37 years$1,788$1,172$746$463$283$170
38 years$1,722$1,114$698$427$256$152
39 years$1,659$1,059$654$394$232$135
40 years$1,600$1,008$613$363$211$121
41 years$1,543$959$575$335$191$108
42 years$1,490$914$539$309$174$96
43 years$1,439$870$506$286$157$86
44 years$1,390$830$475$264$143$76
45 years$1,344$791$446$243$130$68
46 years$1,300$755$419$225$118$61
47 years$1,258$720$394$208$107$54
48 years$1,218$688$370$192$97$48
49 years$1,179$657$348$177$88$43
50 years$1,142$627$327$164$80$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,170,000, adding $4,844 every year, while hoping to spend $42,289 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: 69/19/12 Blend
70$1,170,000$1,170,000$1,170,000$1,170,000
71$1,294,337$1,232,327$1,214,192$1,379,968
72$1,381,364$1,247,715$1,209,872$1,452,858
73$1,475,850$1,262,441$1,203,990$1,527,028
74$1,578,513$1,276,426$1,196,449$1,607,065
75$1,690,138$1,289,588$1,187,148$1,693,539
76$1,811,594$1,301,840$1,175,979$1,787,079
77$1,943,834$1,313,088$1,162,832$1,888,377
78$2,087,908$1,323,231$1,147,589$1,998,197
79$2,244,969$1,332,164$1,130,128$2,117,382
80$2,416,290$1,339,775$1,110,321$2,246,858
81$2,603,269$1,345,941$1,088,035$2,387,651
82$2,807,446$1,350,536$1,063,128$2,540,887
83$3,030,517$1,353,423$1,035,453$2,707,810
84$3,274,347$1,354,459$1,004,859$2,889,793
85$3,540,992$1,353,488$971,183$3,088,346
86$3,832,713$1,350,349$934,257$3,305,137
87$4,152,002$1,344,868$893,907$3,542,005
88$4,501,601$1,336,862$849,948$3,800,974
89$4,884,531$1,326,135$802,188$4,084,281
90$5,304,119$1,312,481$750,427$4,394,387
91$5,764,028$1,295,682$694,455$4,734,010
92$6,268,293$1,275,504$634,053$5,106,144
93$6,821,357$1,251,702$568,992$5,514,090
94$7,428,115$1,224,015$499,033$5,961,490
95$8,093,958$1,192,167$423,926$6,452,356
96$8,824,825$1,155,866$343,411$6,991,115
97$9,627,256$1,114,803$257,214$7,582,643
98$10,508,459$1,068,651$165,053$8,232,320
99$11,476,369$1,017,062$66,630$8,946,077
100$12,539,731$959,671$0$9,730,451