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%11.1%
1 years$97,443$96,575$95,728$94,902$94,095$93,659
2 years$48,239$47,341$46,470$45,626$44,807$44,367
3 years$31,840$30,938$30,069$29,233$28,427$27,997
4 years$23,642$22,743$21,883$21,061$20,275$19,857
5 years$18,725$17,830$16,982$16,177$15,413$15,009
6 years$15,447$14,560$13,724$12,937$12,195$11,806
7 years$13,107$12,227$11,405$10,636$9,918$9,544
8 years$11,353$10,481$9,672$8,922$8,228$7,869
9 years$9,989$9,126$8,331$7,600$6,929$6,585
10 years$8,899$8,044$7,263$6,551$5,904$5,574
11 years$8,008$7,161$6,394$5,701$5,078$4,762
12 years$7,265$6,427$5,675$5,001$4,400$4,099
13 years$6,638$5,808$5,070$4,415$3,837$3,549
14 years$6,100$5,280$4,555$3,919$3,364$3,089
15 years$5,635$4,823$4,113$3,495$2,962$2,701
16 years$5,228$4,425$3,729$3,130$2,617$2,369
17 years$4,869$4,075$3,393$2,812$2,321$2,085
18 years$4,551$3,766$3,097$2,534$2,064$1,840
19 years$4,266$3,490$2,836$2,290$1,839$1,627
20 years$4,010$3,243$2,602$2,074$1,643$1,442
21 years$3,779$3,021$2,394$1,882$1,470$1,280
22 years$3,569$2,820$2,206$1,711$1,318$1,138
23 years$3,378$2,637$2,037$1,558$1,183$1,014
24 years$3,203$2,471$1,884$1,421$1,063$903
25 years$3,042$2,319$1,745$1,298$957$806
26 years$2,894$2,179$1,618$1,187$862$720
27 years$2,757$2,051$1,503$1,086$777$644
28 years$2,630$1,933$1,397$995$701$576
29 years$2,512$1,823$1,300$913$633$515
30 years$2,402$1,722$1,211$838$572$462
31 years$2,299$1,628$1,129$769$517$414
32 years$2,203$1,540$1,053$707$468$371
33 years$2,113$1,459$983$650$423$333
34 years$2,029$1,382$919$598$383$298
35 years$1,949$1,311$859$551$347$268
36 years$1,874$1,245$804$507$315$240
37 years$1,803$1,182$752$467$285$216
38 years$1,736$1,123$704$431$258$194
39 years$1,673$1,068$660$397$234$174
40 years$1,613$1,016$619$366$213$157
41 years$1,556$967$580$338$193$141
42 years$1,502$921$544$312$175$127
43 years$1,451$878$511$288$159$114
44 years$1,402$837$479$266$144$102
45 years$1,355$798$450$246$131$92
46 years$1,311$761$423$227$119$83
47 years$1,269$726$397$210$108$74
48 years$1,228$693$373$194$98$67
49 years$1,189$662$351$179$89$60
50 years$1,152$633$330$165$81$54

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 $5,821 every year, while hoping to spend $53,010 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: 76/16/8 Blend
70$1,180,000$1,180,000$1,180,000$1,180,000
71$1,306,364$1,243,824$1,225,534$1,403,668
72$1,383,211$1,248,370$1,210,188$1,473,017
73$1,466,120$1,251,361$1,192,550$1,541,655
74$1,555,653$1,252,666$1,172,489$1,615,362
75$1,652,427$1,252,145$1,149,865$1,694,622
76$1,757,123$1,249,648$1,124,534$1,779,965
77$1,870,487$1,245,017$1,096,343$1,871,978
78$1,993,338$1,238,086$1,065,132$1,971,307
79$2,126,581$1,228,674$1,030,736$2,078,666
80$2,271,207$1,216,594$992,981$2,194,838
81$2,428,308$1,201,644$951,683$2,320,690
82$2,599,084$1,183,614$906,654$2,457,176
83$2,784,857$1,162,277$857,693$2,605,349
84$2,987,080$1,137,396$804,593$2,766,368
85$3,207,351$1,108,718$747,136$2,941,513
86$3,447,432$1,075,976$685,096$3,132,194
87$3,709,258$1,038,887$618,235$3,339,967
88$3,994,961$997,151$546,304$3,566,546
89$4,306,887$950,452$469,046$3,813,822
90$4,647,620$898,454$386,190$4,083,880
91$5,020,003$840,804$297,453$4,379,018
92$5,427,166$777,127$202,540$4,701,773
93$5,872,557$707,025$101,144$5,054,938
94$6,359,969$630,081$0$5,441,595
95$6,893,582$545,851$0$5,865,746
96$7,477,998$453,869$0$6,339,787
97$8,118,285$353,639$0$6,859,237
98$8,820,023$244,640$0$7,428,683
99$9,589,359$126,321$0$8,053,180
100$10,433,062$0$0$8,738,300