Can I retire at age 71 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$101,572$100,667$99,785$98,923$98,082$94,339
2 years$50,283$49,347$48,439$47,559$46,706$42,979
3 years$33,189$32,249$31,343$30,472$29,632$26,039
4 years$24,644$23,706$22,810$21,953$21,134$17,701
5 years$19,518$18,586$17,701$16,862$16,066$12,803
6 years$16,102$15,177$14,305$13,485$12,712$9,621
7 years$13,663$12,745$11,888$11,087$10,338$7,418
8 years$11,834$10,925$10,082$9,300$8,577$5,824
9 years$10,413$9,512$8,683$7,922$7,223$4,634
10 years$9,276$8,385$7,570$6,829$6,154$3,725
11 years$8,347$7,464$6,665$5,943$5,293$3,017
12 years$7,573$6,700$5,915$5,213$4,587$2,459
13 years$6,919$6,055$5,285$4,602$4,000$2,014
14 years$6,359$5,503$4,748$4,085$3,506$1,656
15 years$5,873$5,027$4,287$3,643$3,087$1,366
16 years$5,449$4,613$3,887$3,262$2,728$1,129
17 years$5,076$4,248$3,537$2,931$2,419$935
18 years$4,744$3,925$3,229$2,641$2,151$776
19 years$4,447$3,638$2,956$2,387$1,917$645
20 years$4,180$3,381$2,713$2,162$1,712$537
21 years$3,939$3,149$2,495$1,962$1,532$447
22 years$3,721$2,939$2,300$1,784$1,374$373
23 years$3,521$2,749$2,123$1,625$1,233$311
24 years$3,339$2,576$1,964$1,482$1,108$259
25 years$3,171$2,417$1,819$1,353$997$217
26 years$3,017$2,272$1,687$1,237$898$181
27 years$2,874$2,138$1,566$1,132$810$151
28 years$2,741$2,015$1,456$1,038$731$126
29 years$2,618$1,901$1,355$951$660$106
30 years$2,504$1,795$1,262$873$596$88
31 years$2,397$1,697$1,177$802$539$74
32 years$2,297$1,606$1,098$737$488$62
33 years$2,203$1,520$1,025$678$441$52
34 years$2,115$1,441$958$624$400$43
35 years$2,032$1,367$895$574$362$36
36 years$1,954$1,297$838$529$328$30
37 years$1,880$1,232$784$487$297$25
38 years$1,810$1,171$734$449$269$21
39 years$1,744$1,113$688$414$244$18
40 years$1,682$1,059$645$382$222$15
41 years$1,622$1,008$605$352$201$12
42 years$1,566$960$567$325$182$10
43 years$1,512$915$532$300$166$9
44 years$1,461$872$500$277$150$7
45 years$1,413$832$469$256$136$6
46 years$1,366$793$441$236$124$5
47 years$1,322$757$414$218$112$4
48 years$1,280$723$389$202$102$4
49 years$1,240$690$366$187$93$3
50 years$1,201$659$344$172$84$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,230,000, adding $6,830 every year, while hoping to spend $41,291 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: 41/30/29 Blend
70$1,230,000$1,230,000$1,230,000$1,230,000
71$1,362,505$1,297,315$1,278,250$1,406,516
72$1,457,547$1,316,950$1,277,138$1,458,681
73$1,560,900$1,336,164$1,274,605$1,510,756
74$1,673,367$1,354,891$1,270,560$1,566,347
75$1,795,833$1,373,063$1,264,906$1,625,802
76$1,929,272$1,390,608$1,257,545$1,689,507
77$2,074,756$1,407,445$1,248,370$1,757,892
78$2,233,462$1,423,491$1,237,271$1,831,429
79$2,406,689$1,438,656$1,224,134$1,910,642
80$2,595,867$1,452,845$1,208,838$1,996,111
81$2,802,566$1,465,956$1,191,255$2,088,476
82$3,028,520$1,477,880$1,171,254$2,188,445
83$3,275,633$1,488,500$1,148,696$2,296,802
84$3,546,006$1,497,695$1,123,435$2,414,413
85$3,841,949$1,505,332$1,095,321$2,542,237
86$4,166,007$1,511,273$1,064,193$2,681,330
87$4,520,983$1,515,368$1,029,886$2,832,863
88$4,909,962$1,517,460$992,227$2,998,129
89$5,336,344$1,517,382$951,032$3,178,556
90$5,803,873$1,514,955$906,113$3,375,723
91$6,316,671$1,509,991$857,271$3,591,375
92$6,879,279$1,502,288$804,298$3,827,437
93$7,496,701$1,491,635$746,977$4,086,038
94$8,174,445$1,477,806$685,081$4,369,529
95$8,918,581$1,460,561$618,374$4,680,506
96$9,735,794$1,439,647$546,608$5,021,836
97$10,633,451$1,414,795$469,524$5,396,684
98$11,619,663$1,385,720$386,853$5,808,546
99$12,703,369$1,352,121$298,314$6,261,281
100$13,894,416$1,313,679$203,611$6,759,150