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%17.2%
1 years$101,572$100,667$99,785$98,923$98,082$95,209
2 years$50,283$49,347$48,439$47,559$46,706$43,835
3 years$33,189$32,249$31,343$30,472$29,632$26,853
4 years$24,644$23,706$22,810$21,953$21,134$18,468
5 years$19,518$18,586$17,701$16,862$16,066$13,520
6 years$16,102$15,177$14,305$13,485$12,712$10,289
7 years$13,663$12,745$11,888$11,087$10,338$8,038
8 years$11,834$10,925$10,082$9,300$8,577$6,397
9 years$10,413$9,512$8,683$7,922$7,223$5,163
10 years$9,276$8,385$7,570$6,829$6,154$4,210
11 years$8,347$7,464$6,665$5,943$5,293$3,462
12 years$7,573$6,700$5,915$5,213$4,587$2,865
13 years$6,919$6,055$5,285$4,602$4,000$2,383
14 years$6,359$5,503$4,748$4,085$3,506$1,991
15 years$5,873$5,027$4,287$3,643$3,087$1,669
16 years$5,449$4,613$3,887$3,262$2,728$1,403
17 years$5,076$4,248$3,537$2,931$2,419$1,182
18 years$4,744$3,925$3,229$2,641$2,151$998
19 years$4,447$3,638$2,956$2,387$1,917$844
20 years$4,180$3,381$2,713$2,162$1,712$715
21 years$3,939$3,149$2,495$1,962$1,532$606
22 years$3,721$2,939$2,300$1,784$1,374$514
23 years$3,521$2,749$2,123$1,625$1,233$437
24 years$3,339$2,576$1,964$1,482$1,108$371
25 years$3,171$2,417$1,819$1,353$997$316
26 years$3,017$2,272$1,687$1,237$898$269
27 years$2,874$2,138$1,566$1,132$810$229
28 years$2,741$2,015$1,456$1,038$731$195
29 years$2,618$1,901$1,355$951$660$166
30 years$2,504$1,795$1,262$873$596$141
31 years$2,397$1,697$1,177$802$539$120
32 years$2,297$1,606$1,098$737$488$103
33 years$2,203$1,520$1,025$678$441$87
34 years$2,115$1,441$958$624$400$75
35 years$2,032$1,367$895$574$362$64
36 years$1,954$1,297$838$529$328$54
37 years$1,880$1,232$784$487$297$46
38 years$1,810$1,171$734$449$269$39
39 years$1,744$1,113$688$414$244$34
40 years$1,682$1,059$645$382$222$29
41 years$1,622$1,008$605$352$201$24
42 years$1,566$960$567$325$182$21
43 years$1,512$915$532$300$166$18
44 years$1,461$872$500$277$150$15
45 years$1,413$832$469$256$136$13
46 years$1,366$793$441$236$124$11
47 years$1,322$757$414$218$112$9
48 years$1,280$723$389$202$102$8
49 years$1,240$690$366$187$93$7
50 years$1,201$659$344$172$84$6

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 $6,835 every year, while hoping to spend $58,383 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: 37/37/26 Blend
70$1,230,000$1,230,000$1,230,000$1,230,000
71$1,362,510$1,297,320$1,278,255$1,402,104
72$1,439,367$1,298,770$1,258,958$1,433,285
73$1,522,107$1,298,334$1,237,057$1,461,094
74$1,611,268$1,295,858$1,212,404$1,489,993
75$1,707,441$1,291,179$1,184,844$1,520,119
76$1,811,276$1,284,123$1,154,212$1,551,626
77$1,923,487$1,274,506$1,120,339$1,584,688
78$2,044,859$1,262,133$1,083,047$1,619,500
79$2,176,254$1,246,797$1,042,148$1,656,285
80$2,318,620$1,228,278$997,448$1,695,291
81$2,472,999$1,206,343$948,743$1,736,799
82$2,640,538$1,180,748$895,819$1,781,123
83$2,822,499$1,151,229$838,454$1,828,616
84$3,020,266$1,117,513$776,415$1,879,674
85$3,235,367$1,079,305$709,459$1,934,742
86$3,469,480$1,036,296$637,331$1,994,313
87$3,724,452$988,159$559,767$2,058,945
88$4,002,315$934,548$476,488$2,129,256
89$4,305,306$875,095$387,205$2,205,939
90$4,635,887$809,415$291,616$2,289,766
91$4,996,767$737,096$189,405$2,381,598
92$5,390,930$657,707$80,243$2,482,395
93$5,821,659$570,788$0$2,593,227
94$6,292,570$475,858$0$2,725,340
95$6,807,641$372,405$0$2,894,412
96$7,371,257$259,889$0$3,079,735
97$7,988,243$137,741$0$3,283,054
98$8,663,913$5,359$0$3,506,303
99$9,404,118$0$0$3,751,619
100$10,215,303$0$0$4,077,513