Can I retire at age 71 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$91,663$90,846$90,050$89,272$88,513$86,904
2 years$45,378$44,532$43,713$42,919$42,149$40,533
3 years$29,951$29,102$28,285$27,499$26,741$25,169
4 years$22,240$21,393$20,585$19,811$19,072$17,557
5 years$17,614$16,773$15,974$15,217$14,498$13,043
6 years$14,531$13,696$12,910$12,169$11,472$10,079
7 years$12,330$11,502$10,728$10,005$9,330$7,999
8 years$10,680$9,859$9,098$8,393$7,740$6,472
9 years$9,397$8,584$7,836$7,149$6,518$5,311
10 years$8,371$7,567$6,832$6,162$5,554$4,407
11 years$7,533$6,736$6,015$5,363$4,776$3,689
12 years$6,834$6,046$5,338$4,704$4,139$3,109
13 years$6,244$5,464$4,769$4,153$3,609$2,636
14 years$5,738$4,966$4,285$3,687$3,164$2,244
15 years$5,300$4,537$3,869$3,288$2,786$1,918
16 years$4,918$4,163$3,508$2,944$2,462$1,645
17 years$4,580$3,834$3,192$2,645$2,183$1,415
18 years$4,281$3,542$2,914$2,384$1,941$1,219
19 years$4,013$3,283$2,667$2,154$1,730$1,053
20 years$3,773$3,051$2,448$1,951$1,545$911
21 years$3,555$2,842$2,252$1,770$1,383$789
22 years$3,358$2,653$2,075$1,610$1,240$684
23 years$3,178$2,481$1,916$1,466$1,113$594
24 years$3,013$2,324$1,772$1,337$1,000$516
25 years$2,862$2,181$1,641$1,221$900$449
26 years$2,722$2,050$1,522$1,117$811$391
27 years$2,593$1,929$1,414$1,022$731$340
28 years$2,474$1,818$1,314$936$660$296
29 years$2,363$1,715$1,223$859$596$258
30 years$2,259$1,620$1,139$788$538$225
31 years$2,163$1,531$1,062$724$486$196
32 years$2,073$1,449$991$665$440$171
33 years$1,988$1,372$925$612$398$149
34 years$1,908$1,300$864$563$361$130
35 years$1,833$1,233$808$518$327$114
36 years$1,763$1,171$756$477$296$99
37 years$1,696$1,112$708$440$268$87
38 years$1,633$1,057$663$405$243$76
39 years$1,574$1,005$621$374$220$66
40 years$1,518$956$582$345$200$58
41 years$1,464$910$546$318$181$51
42 years$1,413$867$512$293$165$44
43 years$1,365$826$480$271$149$39
44 years$1,319$787$451$250$136$34
45 years$1,275$751$423$231$123$29
46 years$1,233$716$398$213$112$26
47 years$1,193$683$373$197$102$22
48 years$1,155$652$351$182$92$20
49 years$1,119$623$330$168$84$17
50 years$1,084$595$310$156$76$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,110,000, adding $2,756 every year, while hoping to spend $34,393 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: 35/42/23 Blend
70$1,110,000$1,110,000$1,110,000$1,110,000
71$1,226,063$1,167,233$1,150,028$1,260,337
72$1,314,527$1,187,833$1,151,960$1,306,517
73$1,410,863$1,208,291$1,152,804$1,352,961
74$1,515,835$1,228,561$1,152,487$1,402,380
75$1,630,288$1,248,599$1,150,933$1,455,062
76$1,755,150$1,268,353$1,148,063$1,511,323
77$1,891,443$1,287,770$1,143,791$1,571,514
78$2,040,292$1,306,792$1,138,029$1,636,023
79$2,202,935$1,325,359$1,130,687$1,705,278
80$2,380,736$1,343,402$1,121,666$1,779,752
81$2,575,195$1,360,853$1,110,865$1,859,971
82$2,787,965$1,377,635$1,098,179$1,946,512
83$3,020,865$1,393,667$1,083,496$2,040,015
84$3,275,900$1,408,863$1,066,700$2,141,189
85$3,555,276$1,423,132$1,047,669$2,250,814
86$3,861,424$1,436,374$1,026,275$2,369,754
87$4,197,019$1,448,487$1,002,385$2,498,965
88$4,565,009$1,459,357$975,859$2,639,500
89$4,968,641$1,468,866$946,551$2,792,525
90$5,411,490$1,476,888$914,309$2,959,327
91$5,897,495$1,483,289$878,972$3,141,328
92$6,430,995$1,487,926$840,373$3,340,100
93$7,016,769$1,490,646$798,337$3,557,377
94$7,660,081$1,491,289$752,683$3,795,074
95$8,366,729$1,489,683$703,218$4,055,309
96$9,143,104$1,485,646$649,744$4,340,417
97$9,996,242$1,478,984$592,052$4,652,979
98$10,933,898$1,469,493$529,925$4,995,844
99$11,964,612$1,456,955$463,134$5,372,155
100$13,097,797$1,441,140$391,443$5,785,385