Can I retire at age 71 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$99,095$98,212$97,351$96,510$95,690$92,331
2 years$49,057$48,143$47,258$46,399$45,567$42,218
3 years$32,380$31,462$30,579$29,728$28,909$25,676
4 years$24,043$23,128$22,254$21,418$20,618$17,525
5 years$19,042$18,133$17,270$16,451$15,674$12,729
6 years$15,709$14,807$13,956$13,156$12,402$9,608
7 years$13,329$12,435$11,598$10,816$10,086$7,442
8 years$11,546$10,659$9,836$9,073$8,367$5,871
9 years$10,159$9,280$8,472$7,729$7,047$4,694
10 years$9,050$8,180$7,386$6,662$6,004$3,792
11 years$8,143$7,282$6,502$5,798$5,164$3,088
12 years$7,388$6,536$5,771$5,086$4,475$2,530
13 years$6,750$5,907$5,156$4,490$3,902$2,084
14 years$6,204$5,369$4,632$3,986$3,421$1,723
15 years$5,730$4,905$4,182$3,554$3,012$1,429
16 years$5,316$4,500$3,792$3,183$2,662$1,188
17 years$4,952$4,144$3,451$2,860$2,360$990
18 years$4,628$3,830$3,150$2,577$2,098$827
19 years$4,339$3,549$2,884$2,329$1,870$691
20 years$4,078$3,298$2,646$2,109$1,671$579
21 years$3,843$3,072$2,434$1,914$1,495$485
22 years$3,630$2,868$2,244$1,740$1,340$407
23 years$3,435$2,682$2,071$1,585$1,203$341
24 years$3,257$2,513$1,916$1,446$1,081$287
25 years$3,094$2,358$1,774$1,320$973$241
26 years$2,943$2,216$1,646$1,207$876$203
27 years$2,804$2,086$1,528$1,105$790$170
28 years$2,675$1,966$1,421$1,012$713$143
29 years$2,555$1,854$1,322$928$644$121
30 years$2,443$1,751$1,231$852$582$101
31 years$2,338$1,655$1,148$782$526$85
32 years$2,241$1,566$1,071$719$476$72
33 years$2,149$1,483$1,000$661$431$61
34 years$2,063$1,406$934$608$390$51
35 years$1,982$1,333$874$560$353$43
36 years$1,906$1,266$817$516$320$36
37 years$1,834$1,202$765$475$290$30
38 years$1,766$1,142$716$438$263$26
39 years$1,702$1,086$671$404$238$22
40 years$1,641$1,034$629$373$216$18
41 years$1,583$984$590$344$196$15
42 years$1,528$937$553$317$178$13
43 years$1,476$893$519$293$162$11
44 years$1,426$851$487$270$147$9
45 years$1,378$811$458$250$133$8
46 years$1,333$774$430$231$121$6
47 years$1,290$739$404$213$110$5
48 years$1,249$705$379$197$100$5
49 years$1,209$673$357$182$91$4
50 years$1,172$643$335$168$82$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,200,000, adding $4,406 every year, while hoping to spend $44,733 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: 61/32/7 Blend
70$1,200,000$1,200,000$1,200,000$1,200,000
71$1,326,945$1,263,345$1,244,745$1,405,765
72$1,414,698$1,277,653$1,238,848$1,473,314
73$1,509,902$1,291,163$1,231,255$1,541,419
74$1,613,271$1,303,789$1,221,860$1,614,588
75$1,725,588$1,315,438$1,210,556$1,693,310
76$1,847,716$1,326,013$1,197,228$1,778,125
77$1,980,603$1,335,408$1,181,756$1,869,625
78$2,125,295$1,343,513$1,164,015$1,968,467
79$2,282,939$1,350,209$1,143,873$2,075,374
80$2,454,800$1,355,371$1,121,194$2,191,144
81$2,642,270$1,358,864$1,095,834$2,316,657
82$2,846,879$1,360,546$1,067,643$2,452,884
83$3,070,314$1,360,266$1,036,462$2,600,896
84$3,314,431$1,357,864$1,002,128$2,761,875
85$3,581,273$1,353,169$964,469$2,937,125
86$3,873,088$1,346,000$923,304$3,128,085
87$4,192,354$1,336,165$878,446$3,336,341
88$4,541,798$1,323,461$829,698$3,563,645
89$4,924,423$1,307,672$776,854$3,811,927
90$5,343,535$1,288,569$719,700$4,083,319
91$5,802,777$1,265,910$658,011$4,380,172
92$6,306,158$1,239,438$591,553$4,705,078
93$6,858,097$1,208,881$520,080$5,060,898
94$7,463,458$1,173,951$443,338$5,450,787
95$8,127,600$1,134,343$361,059$5,878,226
96$8,856,424$1,089,735$272,963$6,347,055
97$9,656,432$1,039,786$178,761$6,861,508
98$10,534,786$984,133$78,147$7,426,255
99$11,499,374$922,395$0$8,046,450
100$12,558,886$854,168$0$8,729,958