Can I retire at age 71 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$97,443$96,575$95,728$94,902$94,095$93,190
2 years$48,239$47,341$46,470$45,626$44,807$43,895
3 years$31,840$30,938$30,069$29,233$28,427$27,537
4 years$23,642$22,743$21,883$21,061$20,275$19,413
5 years$18,725$17,830$16,982$16,177$15,413$14,582
6 years$15,447$14,560$13,724$12,937$12,195$11,397
7 years$13,107$12,227$11,405$10,636$9,918$9,152
8 years$11,353$10,481$9,672$8,922$8,228$7,494
9 years$9,989$9,126$8,331$7,600$6,929$6,227
10 years$8,899$8,044$7,263$6,551$5,904$5,234
11 years$8,008$7,161$6,394$5,701$5,078$4,439
12 years$7,265$6,427$5,675$5,001$4,400$3,792
13 years$6,638$5,808$5,070$4,415$3,837$3,258
14 years$6,100$5,280$4,555$3,919$3,364$2,814
15 years$5,635$4,823$4,113$3,495$2,962$2,440
16 years$5,228$4,425$3,729$3,130$2,617$2,123
17 years$4,869$4,075$3,393$2,812$2,321$1,853
18 years$4,551$3,766$3,097$2,534$2,064$1,621
19 years$4,266$3,490$2,836$2,290$1,839$1,422
20 years$4,010$3,243$2,602$2,074$1,643$1,249
21 years$3,779$3,021$2,394$1,882$1,470$1,099
22 years$3,569$2,820$2,206$1,711$1,318$969
23 years$3,378$2,637$2,037$1,558$1,183$855
24 years$3,203$2,471$1,884$1,421$1,063$755
25 years$3,042$2,319$1,745$1,298$957$667
26 years$2,894$2,179$1,618$1,187$862$590
27 years$2,757$2,051$1,503$1,086$777$523
28 years$2,630$1,933$1,397$995$701$463
29 years$2,512$1,823$1,300$913$633$411
30 years$2,402$1,722$1,211$838$572$364
31 years$2,299$1,628$1,129$769$517$323
32 years$2,203$1,540$1,053$707$468$287
33 years$2,113$1,459$983$650$423$255
34 years$2,029$1,382$919$598$383$226
35 years$1,949$1,311$859$551$347$201
36 years$1,874$1,245$804$507$315$179
37 years$1,803$1,182$752$467$285$159
38 years$1,736$1,123$704$431$258$141
39 years$1,673$1,068$660$397$234$126
40 years$1,613$1,016$619$366$213$112
41 years$1,556$967$580$338$193$99
42 years$1,502$921$544$312$175$88
43 years$1,451$878$511$288$159$79
44 years$1,402$837$479$266$144$70
45 years$1,355$798$450$246$131$62
46 years$1,311$761$423$227$119$55
47 years$1,269$726$397$210$108$49
48 years$1,228$693$373$194$98$44
49 years$1,189$662$351$179$89$39
50 years$1,152$633$330$165$81$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,180,000, adding $6,499 every year, while hoping to spend $27,933 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: 34/37/29 Blend
70$1,180,000$1,180,000$1,180,000$1,180,000
71$1,307,064$1,244,524$1,226,234$1,339,869
72$1,410,664$1,275,785$1,237,592$1,396,501
73$1,523,895$1,307,642$1,248,395$1,454,587
74$1,647,710$1,340,094$1,258,594$1,516,691
75$1,783,158$1,373,140$1,268,138$1,583,190
76$1,931,394$1,406,778$1,276,975$1,654,499
77$2,093,690$1,441,004$1,285,047$1,731,079
78$2,271,447$1,475,814$1,292,297$1,813,433
79$2,466,208$1,511,202$1,298,663$1,902,119
80$2,679,672$1,547,161$1,304,078$1,997,752
81$2,913,708$1,583,683$1,308,475$2,101,009
82$3,170,379$1,620,756$1,311,781$2,212,636
83$3,451,954$1,658,369$1,313,922$2,333,457
84$3,760,932$1,696,508$1,314,818$2,464,378
85$4,100,068$1,735,158$1,314,385$2,606,402
86$4,472,395$1,774,300$1,312,537$2,760,632
87$4,881,254$1,813,915$1,309,181$2,928,284
88$5,330,326$1,853,981$1,304,223$3,110,699
89$5,823,665$1,894,472$1,297,560$3,309,359
90$6,365,739$1,935,361$1,289,088$3,525,894
91$6,961,468$1,976,618$1,278,697$3,762,102
92$7,616,274$2,018,209$1,266,269$4,019,968
93$8,336,129$2,060,096$1,251,685$4,301,679
94$9,127,614$2,102,241$1,234,816$4,609,647
95$9,997,979$2,144,598$1,215,530$4,946,530
96$10,955,209$2,187,120$1,193,687$5,315,262
97$12,008,107$2,229,755$1,169,142$5,719,077
98$13,166,367$2,272,447$1,141,742$6,161,538
99$14,440,673$2,315,133$1,111,326$6,646,579
100$15,842,796$2,357,749$1,077,730$7,178,532