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

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$97,443$96,575$95,728$94,902$94,095$92,460
2 years$48,239$47,341$46,470$45,626$44,807$43,165
3 years$31,840$30,938$30,069$29,233$28,427$26,830
4 years$23,642$22,743$21,883$21,061$20,275$18,734
5 years$18,725$17,830$16,982$16,177$15,413$13,932
6 years$15,447$14,560$13,724$12,937$12,195$10,778
7 years$13,107$12,227$11,405$10,636$9,918$8,564
8 years$11,353$10,481$9,672$8,922$8,228$6,936
9 years$9,989$9,126$8,331$7,600$6,929$5,699
10 years$8,899$8,044$7,263$6,551$5,904$4,735
11 years$8,008$7,161$6,394$5,701$5,078$3,968
12 years$7,265$6,427$5,675$5,001$4,400$3,349
13 years$6,638$5,808$5,070$4,415$3,837$2,842
14 years$6,100$5,280$4,555$3,919$3,364$2,424
15 years$5,635$4,823$4,113$3,495$2,962$2,075
16 years$5,228$4,425$3,729$3,130$2,617$1,782
17 years$4,869$4,075$3,393$2,812$2,321$1,534
18 years$4,551$3,766$3,097$2,534$2,064$1,324
19 years$4,266$3,490$2,836$2,290$1,839$1,145
20 years$4,010$3,243$2,602$2,074$1,643$992
21 years$3,779$3,021$2,394$1,882$1,470$861
22 years$3,569$2,820$2,206$1,711$1,318$748
23 years$3,378$2,637$2,037$1,558$1,183$650
24 years$3,203$2,471$1,884$1,421$1,063$566
25 years$3,042$2,319$1,745$1,298$957$493
26 years$2,894$2,179$1,618$1,187$862$429
27 years$2,757$2,051$1,503$1,086$777$375
28 years$2,630$1,933$1,397$995$701$327
29 years$2,512$1,823$1,300$913$633$285
30 years$2,402$1,722$1,211$838$572$249
31 years$2,299$1,628$1,129$769$517$218
32 years$2,203$1,540$1,053$707$468$190
33 years$2,113$1,459$983$650$423$166
34 years$2,029$1,382$919$598$383$145
35 years$1,949$1,311$859$551$347$127
36 years$1,874$1,245$804$507$315$111
37 years$1,803$1,182$752$467$285$97
38 years$1,736$1,123$704$431$258$85
39 years$1,673$1,068$660$397$234$74
40 years$1,613$1,016$619$366$213$65
41 years$1,556$967$580$338$193$57
42 years$1,502$921$544$312$175$50
43 years$1,451$878$511$288$159$44
44 years$1,402$837$479$266$144$38
45 years$1,355$798$450$246$131$33
46 years$1,311$761$423$227$119$29
47 years$1,269$726$397$210$108$26
48 years$1,228$693$373$194$98$22
49 years$1,189$662$351$179$89$20
50 years$1,152$633$330$165$81$17

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 $2,639 every year, while hoping to spend $24,233 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: 65/14/21 Blend
70$1,180,000$1,180,000$1,180,000$1,180,000
71$1,303,082$1,240,542$1,222,252$1,380,637
72$1,410,213$1,275,545$1,237,414$1,468,092
73$1,527,459$1,311,451$1,252,271$1,560,638
74$1,655,826$1,348,278$1,266,789$1,661,214
75$1,796,422$1,386,046$1,280,928$1,770,607
76$1,950,468$1,424,773$1,294,650$1,889,688
77$2,119,307$1,464,478$1,307,912$2,019,410
78$2,304,419$1,505,180$1,320,670$2,160,828
79$2,507,434$1,546,899$1,332,877$2,315,103
80$2,730,148$1,589,652$1,344,484$2,483,512
81$2,974,538$1,633,460$1,355,439$2,667,463
82$3,242,782$1,678,340$1,365,687$2,868,507
83$3,537,279$1,724,312$1,375,171$3,088,354
84$3,860,672$1,771,395$1,383,830$3,328,886
85$4,215,873$1,819,606$1,391,601$3,592,178
86$4,606,089$1,868,963$1,398,417$3,880,515
87$5,034,854$1,919,486$1,404,207$4,196,416
88$5,506,059$1,971,191$1,408,898$4,542,656
89$6,023,993$2,024,095$1,412,412$4,922,291
90$6,593,380$2,078,216$1,414,668$5,338,691
91$7,219,426$2,133,569$1,415,580$5,795,568
92$7,907,863$2,190,170$1,415,058$6,297,013
93$8,665,012$2,248,035$1,413,009$6,847,532
94$9,497,831$2,307,177$1,409,333$7,452,094
95$10,413,992$2,367,610$1,403,927$8,116,170
96$11,421,943$2,429,347$1,396,683$8,845,793
97$12,530,995$2,492,399$1,387,486$9,647,609
98$13,751,408$2,556,778$1,376,217$10,528,940
99$15,094,483$2,622,492$1,362,753$11,497,859
100$16,572,676$2,689,549$1,346,960$12,563,260