Can I retire at age 71 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$99,921$99,031$98,162$97,315$96,487$95,084
2 years$49,466$48,544$47,652$46,786$45,946$44,536
3 years$32,650$31,724$30,834$29,976$29,150$27,776
4 years$24,243$23,321$22,439$21,596$20,790$19,463
5 years$19,201$18,284$17,414$16,588$15,804$14,528
6 years$15,840$14,930$14,073$13,265$12,505$11,281
7 years$13,441$12,538$11,695$10,906$10,170$8,999
8 years$11,642$10,748$9,918$9,149$8,437$7,318
9 years$10,243$9,358$8,542$7,793$7,105$6,038
10 years$9,125$8,248$7,447$6,718$6,054$5,038
11 years$8,211$7,343$6,557$5,846$5,207$4,241
12 years$7,450$6,591$5,819$5,128$4,512$3,595
13 years$6,806$5,956$5,199$4,527$3,935$3,066
14 years$6,255$5,414$4,671$4,019$3,449$2,626
15 years$5,778$4,946$4,217$3,584$3,037$2,259
16 years$5,361$4,538$3,824$3,209$2,684$1,949
17 years$4,993$4,179$3,479$2,883$2,380$1,687
18 years$4,667$3,862$3,176$2,599$2,116$1,464
19 years$4,375$3,579$2,908$2,348$1,886$1,272
20 years$4,112$3,326$2,668$2,127$1,685$1,108
21 years$3,875$3,098$2,455$1,930$1,508$966
22 years$3,660$2,892$2,262$1,755$1,351$844
23 years$3,464$2,704$2,089$1,598$1,213$738
24 years$3,285$2,534$1,932$1,458$1,090$645
25 years$3,120$2,378$1,789$1,331$981$565
26 years$2,968$2,235$1,659$1,217$884$495
27 years$2,827$2,103$1,541$1,114$797$435
28 years$2,697$1,982$1,432$1,021$719$381
29 years$2,576$1,870$1,333$936$649$335
30 years$2,463$1,766$1,242$859$587$294
31 years$2,358$1,669$1,158$789$530$258
32 years$2,259$1,579$1,080$725$480$227
33 years$2,167$1,496$1,008$667$434$200
34 years$2,080$1,418$942$613$393$176
35 years$1,999$1,345$881$565$356$154
36 years$1,922$1,276$824$520$323$136
37 years$1,849$1,212$771$479$292$120
38 years$1,781$1,152$722$442$265$105
39 years$1,716$1,095$677$407$240$93
40 years$1,654$1,042$634$376$218$82
41 years$1,596$992$595$347$198$72
42 years$1,541$945$558$320$179$63
43 years$1,488$900$524$295$163$56
44 years$1,438$858$491$273$148$49
45 years$1,390$818$461$252$134$43
46 years$1,344$781$433$233$122$38
47 years$1,301$745$407$215$111$33
48 years$1,259$711$383$199$100$29
49 years$1,219$679$360$183$91$26
50 years$1,181$649$338$170$83$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $1,210,000, adding $4,408 every year, while hoping to spend $26,468 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: 44/33/23 Blend
70$1,210,000$1,210,000$1,210,000$1,210,000
71$1,337,967$1,273,837$1,255,082$1,387,744
72$1,446,278$1,308,093$1,268,965$1,457,669
73$1,564,749$1,343,141$1,282,427$1,530,507
74$1,694,390$1,378,991$1,295,424$1,608,930
75$1,836,310$1,415,654$1,307,913$1,693,469
76$1,991,732$1,453,139$1,319,847$1,784,711
77$2,162,003$1,491,458$1,331,176$1,883,298
78$2,348,606$1,530,618$1,341,849$1,989,942
79$2,553,174$1,570,628$1,351,811$2,105,425
80$2,777,505$1,611,496$1,361,005$2,230,608
81$3,023,582$1,653,231$1,369,369$2,366,439
82$3,293,585$1,695,837$1,376,841$2,513,964
83$3,589,919$1,739,321$1,383,354$2,674,335
84$3,915,232$1,783,689$1,388,837$2,848,820
85$4,272,439$1,828,943$1,393,217$3,038,818
86$4,664,754$1,875,088$1,396,415$3,245,869
87$5,095,716$1,922,124$1,398,352$3,471,671
88$5,569,223$1,970,052$1,398,941$3,718,093
89$6,089,570$2,018,871$1,398,092$3,987,198
90$6,661,491$2,068,580$1,395,713$4,281,256
91$7,290,196$2,119,174$1,391,703$4,602,770
92$7,981,431$2,170,649$1,385,959$4,954,500
93$8,741,522$2,222,995$1,378,374$5,339,484
94$9,577,441$2,276,206$1,368,833$5,761,073
95$10,496,869$2,330,268$1,357,218$6,222,960
96$11,508,267$2,385,170$1,343,403$6,729,212
97$12,620,962$2,440,894$1,327,258$7,284,316
98$13,845,224$2,497,423$1,308,646$7,893,213
99$15,192,375$2,554,734$1,287,423$8,561,351
100$16,674,886$2,612,804$1,263,440$9,294,733