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

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
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%11.1%
1 years$96,618$95,757$94,917$94,098$93,297$92,865
2 years$47,830$46,940$46,076$45,239$44,427$43,991
3 years$31,570$30,676$29,814$28,985$28,187$27,760
4 years$23,442$22,550$21,697$20,882$20,103$19,689
5 years$18,566$17,679$16,838$16,040$15,282$14,882
6 years$15,316$14,436$13,608$12,827$12,092$11,706
7 years$12,996$12,124$11,308$10,546$9,834$9,463
8 years$11,257$10,392$9,590$8,847$8,158$7,802
9 years$9,905$9,048$8,260$7,535$6,870$6,529
10 years$8,824$7,976$7,201$6,496$5,854$5,527
11 years$7,940$7,100$6,340$5,653$5,035$4,722
12 years$7,204$6,373$5,626$4,958$4,363$4,064
13 years$6,581$5,759$5,027$4,378$3,805$3,519
14 years$6,048$5,235$4,517$3,886$3,335$3,063
15 years$5,587$4,782$4,078$3,466$2,936$2,678
16 years$5,184$4,388$3,697$3,103$2,595$2,349
17 years$4,828$4,041$3,364$2,788$2,301$2,067
18 years$4,512$3,734$3,071$2,513$2,046$1,824
19 years$4,230$3,461$2,812$2,270$1,824$1,613
20 years$3,976$3,216$2,580$2,056$1,629$1,430
21 years$3,747$2,995$2,373$1,866$1,458$1,269
22 years$3,539$2,796$2,187$1,697$1,307$1,129
23 years$3,350$2,615$2,020$1,545$1,173$1,005
24 years$3,176$2,450$1,868$1,409$1,054$896
25 years$3,016$2,299$1,730$1,287$949$799
26 years$2,869$2,161$1,605$1,177$855$714
27 years$2,734$2,034$1,490$1,077$770$638
28 years$2,608$1,916$1,385$987$695$571
29 years$2,491$1,808$1,289$905$628$511
30 years$2,382$1,707$1,201$831$567$458
31 years$2,280$1,614$1,119$763$513$410
32 years$2,185$1,527$1,044$701$464$368
33 years$2,095$1,446$975$645$420$330
34 years$2,011$1,371$911$593$380$296
35 years$1,933$1,300$852$546$344$266
36 years$1,858$1,234$797$503$312$238
37 years$1,788$1,172$746$463$283$214
38 years$1,722$1,114$698$427$256$192
39 years$1,659$1,059$654$394$232$173
40 years$1,600$1,008$613$363$211$155
41 years$1,543$959$575$335$191$140
42 years$1,490$914$539$309$174$125
43 years$1,439$870$506$286$157$113
44 years$1,390$830$475$264$143$101
45 years$1,344$791$446$243$130$91
46 years$1,300$755$419$225$118$82
47 years$1,258$720$394$208$107$74
48 years$1,218$688$370$192$97$66
49 years$1,179$657$348$177$88$60
50 years$1,142$627$327$164$80$54

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 $6,918 every year, while hoping to spend $24,209 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: 39/31/30 Blend
70$1,170,000$1,170,000$1,170,000$1,170,000
71$1,296,476$1,234,466$1,216,331$1,335,295
72$1,402,958$1,269,197$1,231,320$1,399,139
73$1,519,490$1,304,818$1,245,999$1,465,410
74$1,647,072$1,341,347$1,260,334$1,536,620
75$1,786,803$1,378,803$1,274,285$1,613,236
76$1,939,897$1,417,204$1,287,814$1,695,772
77$2,107,688$1,456,569$1,300,876$1,784,796
78$2,291,646$1,496,914$1,313,429$1,880,931
79$2,493,390$1,538,259$1,325,426$1,984,865
80$2,714,704$1,580,622$1,336,816$2,097,354
81$2,957,552$1,624,021$1,347,547$2,219,233
82$3,224,098$1,668,474$1,357,566$2,351,421
83$3,516,725$1,713,998$1,366,814$2,494,929
84$3,838,059$1,760,612$1,375,230$2,650,874
85$4,190,992$1,808,333$1,382,751$2,820,485
86$4,578,709$1,857,178$1,389,309$3,005,114
87$5,004,722$1,907,163$1,394,835$3,206,255
88$5,472,895$1,958,306$1,399,254$3,425,552
89$5,987,490$2,010,623$1,402,488$3,664,817
90$6,553,198$2,064,128$1,404,456$3,926,046
91$7,175,191$2,118,836$1,405,072$4,211,440
92$7,859,165$2,174,763$1,404,246$4,523,424
93$8,611,395$2,231,922$1,401,884$4,864,670
94$9,438,796$2,290,325$1,397,886$5,238,124
95$10,348,987$2,349,985$1,392,148$5,647,033
96$11,350,361$2,410,912$1,384,563$6,094,972
97$12,452,168$2,473,116$1,375,016$6,585,886
98$13,664,597$2,536,607$1,363,387$7,124,119
99$14,998,877$2,601,391$1,349,551$7,714,461
100$16,467,378$2,667,476$1,333,377$8,362,191