Can I retire at age 71 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$99,095$98,212$97,351$96,510$95,690$92,479
2 years$49,057$48,143$47,258$46,399$45,567$42,363
3 years$32,380$31,462$30,579$29,728$28,909$25,814
4 years$24,043$23,128$22,254$21,418$20,618$17,655
5 years$19,042$18,133$17,270$16,451$15,674$12,850
6 years$15,709$14,807$13,956$13,156$12,402$9,721
7 years$13,329$12,435$11,598$10,816$10,086$7,546
8 years$11,546$10,659$9,836$9,073$8,367$5,967
9 years$10,159$9,280$8,472$7,729$7,047$4,783
10 years$9,050$8,180$7,386$6,662$6,004$3,874
11 years$8,143$7,282$6,502$5,798$5,164$3,163
12 years$7,388$6,536$5,771$5,086$4,475$2,598
13 years$6,750$5,907$5,156$4,490$3,902$2,145
14 years$6,204$5,369$4,632$3,986$3,421$1,779
15 years$5,730$4,905$4,182$3,554$3,012$1,480
16 years$5,316$4,500$3,792$3,183$2,662$1,234
17 years$4,952$4,144$3,451$2,860$2,360$1,031
18 years$4,628$3,830$3,150$2,577$2,098$864
19 years$4,339$3,549$2,884$2,329$1,870$724
20 years$4,078$3,298$2,646$2,109$1,671$608
21 years$3,843$3,072$2,434$1,914$1,495$511
22 years$3,630$2,868$2,244$1,740$1,340$430
23 years$3,435$2,682$2,071$1,585$1,203$362
24 years$3,257$2,513$1,916$1,446$1,081$305
25 years$3,094$2,358$1,774$1,320$973$257
26 years$2,943$2,216$1,646$1,207$876$217
27 years$2,804$2,086$1,528$1,105$790$183
28 years$2,675$1,966$1,421$1,012$713$154
29 years$2,555$1,854$1,322$928$644$130
30 years$2,443$1,751$1,231$852$582$110
31 years$2,338$1,655$1,148$782$526$93
32 years$2,241$1,566$1,071$719$476$79
33 years$2,149$1,483$1,000$661$431$66
34 years$2,063$1,406$934$608$390$56
35 years$1,982$1,333$874$560$353$47
36 years$1,906$1,266$817$516$320$40
37 years$1,834$1,202$765$475$290$34
38 years$1,766$1,142$716$438$263$29
39 years$1,702$1,086$671$404$238$24
40 years$1,641$1,034$629$373$216$20
41 years$1,583$984$590$344$196$17
42 years$1,528$937$553$317$178$15
43 years$1,476$893$519$293$162$12
44 years$1,426$851$487$270$147$10
45 years$1,378$811$458$250$133$9
46 years$1,333$774$430$231$121$7
47 years$1,290$739$404$213$110$6
48 years$1,249$705$379$197$100$5
49 years$1,209$673$357$182$91$4
50 years$1,172$643$335$168$82$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,200,000, adding $6,627 every year, while hoping to spend $23,816 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: 28/45/27 Blend
70$1,200,000$1,200,000$1,200,000$1,200,000
71$1,329,236$1,265,636$1,247,036$1,355,164
72$1,439,478$1,302,312$1,263,471$1,412,999
73$1,560,166$1,339,987$1,279,659$1,472,588
74$1,692,342$1,378,685$1,295,566$1,536,127
75$1,837,150$1,418,429$1,311,157$1,603,971
76$1,995,852$1,459,245$1,326,394$1,676,512
77$2,169,838$1,501,158$1,341,237$1,754,178
78$2,360,639$1,544,192$1,355,646$1,837,442
79$2,569,940$1,588,373$1,369,576$1,926,824
80$2,799,598$1,633,728$1,382,981$2,022,896
81$3,051,658$1,680,281$1,395,812$2,126,289
82$3,328,373$1,728,061$1,408,018$2,237,696
83$3,632,225$1,777,093$1,419,544$2,357,879
84$3,965,946$1,827,406$1,430,333$2,487,680
85$4,332,549$1,879,025$1,440,326$2,628,023
86$4,735,351$1,931,979$1,449,459$2,779,929
87$5,178,007$1,986,296$1,457,666$2,944,518
88$5,664,542$2,042,003$1,464,876$3,123,028
89$6,199,394$2,099,129$1,471,017$3,316,820
90$6,787,447$2,157,702$1,476,012$3,527,393
91$7,434,087$2,217,750$1,479,778$3,756,400
92$8,145,245$2,279,301$1,482,232$4,005,661
93$8,927,457$2,342,384$1,483,284$4,277,181
94$9,787,924$2,407,027$1,482,841$4,573,169
95$10,734,580$2,473,258$1,480,803$4,896,059
96$11,776,165$2,541,106$1,477,068$5,248,533
97$12,922,311$2,610,598$1,471,527$5,633,546
98$14,183,632$2,681,762$1,464,068$6,054,354
99$15,571,819$2,754,625$1,454,571$6,514,544
100$17,099,757$2,829,214$1,442,912$7,018,071