Can I retire at age 71 with 794,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$65,568$64,984$64,414$63,858$63,315$63,048
2 years$32,459$31,855$31,269$30,701$30,150$29,881
3 years$21,425$20,817$20,233$19,670$19,128$18,865
4 years$15,908$15,303$14,724$14,171$13,642$13,387
5 years$12,599$11,998$11,427$10,885$10,371$10,124
6 years$10,394$9,797$9,235$8,705$8,206$7,968
7 years$8,820$8,228$7,674$7,157$6,674$6,444
8 years$7,639$7,053$6,508$6,004$5,536$5,316
9 years$6,722$6,141$5,605$5,114$4,663$4,451
10 years$5,988$5,413$4,887$4,408$3,973$3,770
11 years$5,388$4,818$4,302$3,836$3,417$3,223
12 years$4,889$4,325$3,818$3,365$2,961$2,776
13 years$4,466$3,908$3,411$2,971$2,582$2,405
14 years$4,105$3,553$3,065$2,637$2,263$2,095
15 years$3,791$3,245$2,767$2,352$1,993$1,833
16 years$3,518$2,978$2,509$2,106$1,761$1,609
17 years$3,276$2,742$2,283$1,892$1,562$1,417
18 years$3,062$2,534$2,084$1,705$1,389$1,251
19 years$2,871$2,348$1,908$1,541$1,238$1,107
20 years$2,699$2,182$1,751$1,395$1,105$982
21 years$2,543$2,033$1,611$1,266$989$872
22 years$2,402$1,897$1,484$1,151$887$776
23 years$2,273$1,775$1,371$1,049$796$692
24 years$2,155$1,663$1,268$956$715$617
25 years$2,047$1,560$1,174$873$644$551
26 years$1,947$1,467$1,089$799$580$493
27 years$1,855$1,380$1,011$731$523$441
28 years$1,770$1,301$940$670$472$394
29 years$1,690$1,227$875$614$426$353
30 years$1,616$1,159$815$564$385$317
31 years$1,547$1,095$760$518$348$284
32 years$1,483$1,036$709$476$315$255
33 years$1,422$981$662$438$285$229
34 years$1,365$930$618$403$258$205
35 years$1,312$882$578$371$234$185
36 years$1,261$837$541$341$212$166
37 years$1,213$795$506$314$192$149
38 years$1,168$756$474$290$174$134
39 years$1,126$719$444$267$158$120
40 years$1,086$684$416$247$143$108
41 years$1,047$651$390$227$130$97
42 years$1,011$620$366$210$118$88
43 years$976$591$344$194$107$79
44 years$943$563$322$179$97$71
45 years$912$537$303$165$88$64
46 years$882$512$284$153$80$58
47 years$854$489$267$141$73$52
48 years$826$467$251$130$66$47
49 years$800$446$236$120$60$42
50 years$775$426$222$111$54$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $794,000, adding $6,742 every year, while hoping to spend $53,201 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: 48/34/18 Blend
70$794,000$794,000$794,000$794,000
71$881,942$839,860$827,553$919,508
72$915,295$824,408$798,671$930,820
73$950,267$806,416$767,038$937,145
74$986,966$785,702$732,506$942,877
75$1,025,512$762,077$694,920$947,984
76$1,066,032$735,337$654,118$952,430
77$1,108,667$705,268$609,930$956,183
78$1,153,568$671,643$562,180$959,207
79$1,200,902$634,223$510,683$961,473
80$1,250,848$592,754$455,245$962,947
81$1,303,603$546,968$395,665$963,603
82$1,359,383$496,582$331,732$963,413
83$1,418,420$441,295$263,225$962,352
84$1,480,972$380,790$189,915$960,402
85$1,547,316$314,735$111,563$957,545
86$1,617,759$242,773$27,917$953,772
87$1,692,635$164,534$0$949,077
88$1,772,309$79,621$0$955,244
89$1,857,181$0$0$966,989
90$1,947,689$0$0$983,652
91$2,044,312$0$0$1,033,294
92$2,147,577$0$0$1,086,403
93$2,258,059$0$0$1,143,282
94$2,376,391$0$0$1,204,264
95$2,503,264$0$0$1,269,713
96$2,639,440$0$0$1,340,030
97$2,785,752$0$0$1,415,656
98$2,943,117$0$0$1,497,072
99$3,112,539$0$0$1,584,808
100$3,295,123$0$0$1,679,447