Can I retire at age 71 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$97,443$96,575$95,728$94,902$94,095$91,970
2 years$48,239$47,341$46,470$45,626$44,807$42,677
3 years$31,840$30,938$30,069$29,233$28,427$26,360
4 years$23,642$22,743$21,883$21,061$20,275$18,285
5 years$18,725$17,830$16,982$16,177$15,413$13,506
6 years$15,447$14,560$13,724$12,937$12,195$10,375
7 years$13,107$12,227$11,405$10,636$9,918$8,183
8 years$11,353$10,481$9,672$8,922$8,228$6,578
9 years$9,989$9,126$8,331$7,600$6,929$5,363
10 years$8,899$8,044$7,263$6,551$5,904$4,420
11 years$8,008$7,161$6,394$5,701$5,078$3,674
12 years$7,265$6,427$5,675$5,001$4,400$3,075
13 years$6,638$5,808$5,070$4,415$3,837$2,587
14 years$6,100$5,280$4,555$3,919$3,364$2,187
15 years$5,635$4,823$4,113$3,495$2,962$1,855
16 years$5,228$4,425$3,729$3,130$2,617$1,579
17 years$4,869$4,075$3,393$2,812$2,321$1,347
18 years$4,551$3,766$3,097$2,534$2,064$1,151
19 years$4,266$3,490$2,836$2,290$1,839$986
20 years$4,010$3,243$2,602$2,074$1,643$846
21 years$3,779$3,021$2,394$1,882$1,470$727
22 years$3,569$2,820$2,206$1,711$1,318$625
23 years$3,378$2,637$2,037$1,558$1,183$538
24 years$3,203$2,471$1,884$1,421$1,063$463
25 years$3,042$2,319$1,745$1,298$957$399
26 years$2,894$2,179$1,618$1,187$862$345
27 years$2,757$2,051$1,503$1,086$777$297
28 years$2,630$1,933$1,397$995$701$257
29 years$2,512$1,823$1,300$913$633$222
30 years$2,402$1,722$1,211$838$572$192
31 years$2,299$1,628$1,129$769$517$166
32 years$2,203$1,540$1,053$707$468$143
33 years$2,113$1,459$983$650$423$124
34 years$2,029$1,382$919$598$383$107
35 years$1,949$1,311$859$551$347$93
36 years$1,874$1,245$804$507$315$80
37 years$1,803$1,182$752$467$285$69
38 years$1,736$1,123$704$431$258$60
39 years$1,673$1,068$660$397$234$52
40 years$1,613$1,016$619$366$213$45
41 years$1,556$967$580$338$193$39
42 years$1,502$921$544$312$175$34
43 years$1,451$878$511$288$159$29
44 years$1,402$837$479$266$144$25
45 years$1,355$798$450$246$131$22
46 years$1,311$761$423$227$119$19
47 years$1,269$726$397$210$108$16
48 years$1,228$693$373$194$98$14
49 years$1,189$662$351$179$89$12
50 years$1,152$633$330$165$81$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,180,000, adding $4,722 every year, while hoping to spend $45,309 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: 38/34/28 Blend
70$1,180,000$1,180,000$1,180,000$1,180,000
71$1,305,231$1,242,691$1,224,401$1,343,798
72$1,390,156$1,255,374$1,217,210$1,385,243
73$1,482,225$1,267,161$1,208,259$1,425,510
74$1,582,118$1,277,958$1,197,443$1,468,164
75$1,690,585$1,287,669$1,184,648$1,513,451
76$1,808,449$1,296,189$1,169,758$1,561,646
77$1,936,616$1,303,407$1,152,650$1,613,052
78$2,076,083$1,309,206$1,133,195$1,668,009
79$2,227,946$1,313,460$1,111,260$1,726,891
80$2,393,412$1,316,035$1,086,703$1,790,116
81$2,573,810$1,316,790$1,059,377$1,858,147
82$2,770,601$1,315,575$1,029,129$1,931,499
83$2,985,393$1,312,230$995,796$2,010,741
84$3,219,959$1,306,585$959,210$2,096,505
85$3,476,247$1,298,460$919,196$2,189,494
86$3,756,404$1,287,664$875,569$2,290,484
87$4,062,792$1,273,995$828,136$2,400,338
88$4,398,014$1,257,238$776,696$2,520,010
89$4,764,935$1,237,165$721,038$2,650,558
90$5,166,708$1,213,536$660,943$2,793,154
91$5,606,809$1,186,096$596,181$2,949,094
92$6,089,062$1,154,573$526,512$3,119,816
93$6,617,682$1,118,683$451,685$3,306,910
94$7,197,308$1,078,121$371,439$3,512,134
95$7,833,051$1,032,567$285,500$3,737,437
96$8,530,541$981,681$193,583$3,984,971
97$9,295,979$925,106$95,391$4,257,120
98$10,136,194$862,461$0$4,556,518
99$11,058,709$793,346$0$4,888,887
100$12,071,813$717,335$0$5,285,237