Can I retire at age 71 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$99,921$99,031$98,162$97,315$96,487$95,242
2 years$49,466$48,544$47,652$46,786$45,946$44,694
3 years$32,650$31,724$30,834$29,976$29,150$27,929
4 years$24,243$23,321$22,439$21,596$20,790$19,610
5 years$19,201$18,284$17,414$16,588$15,804$14,668
6 years$15,840$14,930$14,073$13,265$12,505$11,415
7 years$13,441$12,538$11,695$10,906$10,170$9,126
8 years$11,642$10,748$9,918$9,149$8,437$7,438
9 years$10,243$9,358$8,542$7,793$7,105$6,152
10 years$9,125$8,248$7,447$6,718$6,054$5,146
11 years$8,211$7,343$6,557$5,846$5,207$4,342
12 years$7,450$6,591$5,819$5,128$4,512$3,690
13 years$6,806$5,956$5,199$4,527$3,935$3,155
14 years$6,255$5,414$4,671$4,019$3,449$2,710
15 years$5,778$4,946$4,217$3,584$3,037$2,337
16 years$5,361$4,538$3,824$3,209$2,684$2,023
17 years$4,993$4,179$3,479$2,883$2,380$1,756
18 years$4,667$3,862$3,176$2,599$2,116$1,527
19 years$4,375$3,579$2,908$2,348$1,886$1,332
20 years$4,112$3,326$2,668$2,127$1,685$1,163
21 years$3,875$3,098$2,455$1,930$1,508$1,017
22 years$3,660$2,892$2,262$1,755$1,351$891
23 years$3,464$2,704$2,089$1,598$1,213$781
24 years$3,285$2,534$1,932$1,458$1,090$686
25 years$3,120$2,378$1,789$1,331$981$603
26 years$2,968$2,235$1,659$1,217$884$530
27 years$2,827$2,103$1,541$1,114$797$466
28 years$2,697$1,982$1,432$1,021$719$410
29 years$2,576$1,870$1,333$936$649$361
30 years$2,463$1,766$1,242$859$587$319
31 years$2,358$1,669$1,158$789$530$281
32 years$2,259$1,579$1,080$725$480$248
33 years$2,167$1,496$1,008$667$434$218
34 years$2,080$1,418$942$613$393$193
35 years$1,999$1,345$881$565$356$170
36 years$1,922$1,276$824$520$323$150
37 years$1,849$1,212$771$479$292$133
38 years$1,781$1,152$722$442$265$117
39 years$1,716$1,095$677$407$240$103
40 years$1,654$1,042$634$376$218$91
41 years$1,596$992$595$347$198$81
42 years$1,541$945$558$320$179$71
43 years$1,488$900$524$295$163$63
44 years$1,438$858$491$273$148$56
45 years$1,390$818$461$252$134$49
46 years$1,344$781$433$233$122$43
47 years$1,301$745$407$215$111$38
48 years$1,259$711$383$199$100$34
49 years$1,219$679$360$183$91$30
50 years$1,181$649$338$170$83$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,210,000, adding $3,025 every year, while hoping to spend $48,548 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: 60/26/14 Blend
70$1,210,000$1,210,000$1,210,000$1,210,000
71$1,336,540$1,272,410$1,253,655$1,411,904
72$1,421,213$1,283,104$1,243,998$1,473,715
73$1,512,895$1,292,694$1,232,390$1,535,399
74$1,612,250$1,301,076$1,218,715$1,601,532
75$1,720,008$1,308,137$1,202,851$1,672,548
76$1,836,971$1,313,759$1,184,669$1,748,928
77$1,964,023$1,317,813$1,164,036$1,831,200
78$2,102,134$1,320,167$1,140,812$1,919,950
79$2,252,373$1,320,676$1,114,850$2,015,824
80$2,415,914$1,319,188$1,085,996$2,119,536
81$2,594,051$1,315,542$1,054,091$2,231,873
82$2,788,207$1,309,567$1,018,966$2,353,706
83$2,999,948$1,301,079$980,445$2,485,995
84$3,230,998$1,289,888$938,346$2,629,802
85$3,483,254$1,275,787$892,475$2,786,296
86$3,758,805$1,258,560$842,632$2,956,772
87$4,059,951$1,237,977$788,608$3,142,657
88$4,389,223$1,213,794$730,183$3,345,526
89$4,749,408$1,185,754$667,128$3,567,119
90$5,143,575$1,153,584$599,205$3,809,357
91$5,575,103$1,116,993$526,162$4,074,359
92$6,047,715$1,075,677$447,739$4,364,465
93$6,565,506$1,029,310$363,663$4,682,256
94$7,132,992$977,550$273,650$5,030,582
95$7,755,143$920,035$177,402$5,412,588
96$8,437,432$856,381$74,610$5,831,745
97$9,185,889$786,183$0$6,291,881
98$10,007,156$709,013$0$6,802,465
99$10,908,548$624,416$0$7,375,152
100$11,898,123$531,915$0$8,003,981