Can I retire at age 71 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$96,618$95,757$94,917$94,098$93,297$91,116
2 years$47,830$46,940$46,076$45,239$44,427$42,242
3 years$31,570$30,676$29,814$28,985$28,187$26,066
4 years$23,442$22,550$21,697$20,882$20,103$18,063
5 years$18,566$17,679$16,838$16,040$15,282$13,328
6 years$15,316$14,436$13,608$12,827$12,092$10,227
7 years$12,996$12,124$11,308$10,546$9,834$8,057
8 years$11,257$10,392$9,590$8,847$8,158$6,469
9 years$9,905$9,048$8,260$7,535$6,870$5,268
10 years$8,824$7,976$7,201$6,496$5,854$4,337
11 years$7,940$7,100$6,340$5,653$5,035$3,600
12 years$7,204$6,373$5,626$4,958$4,363$3,009
13 years$6,581$5,759$5,027$4,378$3,805$2,528
14 years$6,048$5,235$4,517$3,886$3,335$2,134
15 years$5,587$4,782$4,078$3,466$2,936$1,808
16 years$5,184$4,388$3,697$3,103$2,595$1,536
17 years$4,828$4,041$3,364$2,788$2,301$1,309
18 years$4,512$3,734$3,071$2,513$2,046$1,117
19 years$4,230$3,461$2,812$2,270$1,824$956
20 years$3,976$3,216$2,580$2,056$1,629$818
21 years$3,747$2,995$2,373$1,866$1,458$702
22 years$3,539$2,796$2,187$1,697$1,307$603
23 years$3,350$2,615$2,020$1,545$1,173$518
24 years$3,176$2,450$1,868$1,409$1,054$445
25 years$3,016$2,299$1,730$1,287$949$383
26 years$2,869$2,161$1,605$1,177$855$330
27 years$2,734$2,034$1,490$1,077$770$284
28 years$2,608$1,916$1,385$987$695$245
29 years$2,491$1,808$1,289$905$628$211
30 years$2,382$1,707$1,201$831$567$182
31 years$2,280$1,614$1,119$763$513$157
32 years$2,185$1,527$1,044$701$464$136
33 years$2,095$1,446$975$645$420$117
34 years$2,011$1,371$911$593$380$101
35 years$1,933$1,300$852$546$344$87
36 years$1,858$1,234$797$503$312$75
37 years$1,788$1,172$746$463$283$65
38 years$1,722$1,114$698$427$256$56
39 years$1,659$1,059$654$394$232$49
40 years$1,600$1,008$613$363$211$42
41 years$1,543$959$575$335$191$36
42 years$1,490$914$539$309$174$31
43 years$1,439$870$506$286$157$27
44 years$1,390$830$475$264$143$23
45 years$1,344$791$446$243$130$20
46 years$1,300$755$419$225$118$17
47 years$1,258$720$394$208$107$15
48 years$1,218$688$370$192$97$13
49 years$1,179$657$348$177$88$11
50 years$1,142$627$327$164$80$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,170,000, adding $3,766 every year, while hoping to spend $45,610 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: 54/40/6 Blend
70$1,170,000$1,170,000$1,170,000$1,170,000
71$1,293,225$1,231,215$1,213,080$1,361,115
72$1,376,605$1,243,015$1,205,189$1,419,215
73$1,466,961$1,253,866$1,195,506$1,477,054
74$1,564,957$1,263,671$1,183,921$1,538,886
75$1,671,322$1,272,330$1,170,322$1,605,096
76$1,786,859$1,279,736$1,154,589$1,676,110
77$1,912,449$1,285,774$1,136,599$1,752,398
78$2,049,065$1,290,323$1,116,221$1,834,477
79$2,197,775$1,293,254$1,093,319$1,922,922
80$2,359,753$1,294,429$1,067,751$2,018,365
81$2,536,294$1,293,702$1,039,367$2,121,506
82$2,728,822$1,290,919$1,008,011$2,233,119
83$2,938,902$1,285,915$973,520$2,354,055
84$3,168,261$1,278,516$935,724$2,485,258
85$3,418,797$1,268,536$894,444$2,627,770
86$3,692,599$1,255,779$849,493$2,782,739
87$3,991,970$1,240,038$800,676$2,951,437
88$4,319,442$1,221,091$747,790$3,135,267
89$4,677,805$1,198,705$690,621$3,335,776
90$5,070,132$1,172,632$628,948$3,554,676
91$5,499,804$1,142,610$562,536$3,793,854
92$5,970,548$1,108,361$491,145$4,055,398
93$6,486,464$1,069,592$414,519$4,341,608
94$7,052,073$1,025,990$332,394$4,655,028
95$7,672,349$977,228$244,494$4,998,462
96$8,352,773$922,958$150,529$5,375,010
97$9,099,383$862,809$50,199$5,788,089
98$9,918,828$796,395$0$6,241,476
99$10,818,432$723,302$0$6,742,976
100$11,806,264$643,096$0$7,297,213