Can I retire at age 71 with 841,000?

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 $841,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$69,449$68,830$68,227$67,638$67,063$66,252
2 years$34,381$33,740$33,120$32,518$31,935$31,119
3 years$22,693$22,050$21,431$20,835$20,261$19,465
4 years$16,850$16,209$15,596$15,010$14,450$13,681
5 years$13,345$12,708$12,103$11,529$10,985$10,244
6 years$11,009$10,377$9,781$9,220$8,692$7,981
7 years$9,342$8,715$8,128$7,580$7,069$6,387
8 years$8,091$7,470$6,893$6,359$5,864$5,212
9 years$7,120$6,504$5,937$5,416$4,939$4,316
10 years$6,343$5,733$5,176$4,669$4,208$3,614
11 years$5,707$5,104$4,557$4,063$3,619$3,054
12 years$5,178$4,581$4,044$3,564$3,136$2,599
13 years$4,731$4,140$3,613$3,147$2,735$2,225
14 years$4,348$3,763$3,247$2,793$2,397$1,913
15 years$4,016$3,437$2,931$2,491$2,111$1,653
16 years$3,726$3,154$2,658$2,230$1,865$1,432
17 years$3,470$2,905$2,418$2,004$1,654$1,245
18 years$3,243$2,684$2,208$1,806$1,471$1,084
19 years$3,041$2,487$2,021$1,632$1,311$947
20 years$2,858$2,311$1,855$1,478$1,171$828
21 years$2,694$2,153$1,706$1,341$1,048$725
22 years$2,544$2,010$1,572$1,220$939$636
23 years$2,408$1,880$1,452$1,111$843$559
24 years$2,283$1,761$1,343$1,013$758$491
25 years$2,168$1,653$1,244$925$682$432
26 years$2,063$1,553$1,153$846$614$381
27 years$1,965$1,462$1,071$774$554$336
28 years$1,874$1,378$996$709$500$296
29 years$1,790$1,300$926$651$451$261
30 years$1,712$1,227$863$597$408$230
31 years$1,639$1,160$805$548$369$203
32 years$1,570$1,098$751$504$333$180
33 years$1,506$1,040$701$463$302$159
34 years$1,446$985$655$426$273$140
35 years$1,389$935$612$393$247$124
36 years$1,336$887$573$362$224$110
37 years$1,285$842$536$333$203$97
38 years$1,238$801$502$307$184$86
39 years$1,193$761$470$283$167$76
40 years$1,150$724$441$261$152$67
41 years$1,109$689$413$241$137$59
42 years$1,071$657$388$222$125$53
43 years$1,034$626$364$205$113$47
44 years$999$596$342$189$103$41
45 years$966$569$321$175$93$37
46 years$934$543$301$162$85$32
47 years$904$518$283$149$77$29
48 years$875$494$266$138$70$25
49 years$848$472$250$128$63$22
50 years$821$451$235$118$58$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $841,000, adding $2,967 every year, while hoping to spend $42,754 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: 84/8/8 Blend
70$841,000$841,000$841,000$841,000
71$929,842$885,269$872,234$1,006,862
72$979,196$883,158$855,964$1,055,506
73$1,032,152$879,510$837,716$1,102,843
74$1,089,030$874,205$817,378$1,153,504
75$1,150,186$867,115$794,835$1,207,796
76$1,216,006$858,106$769,964$1,266,058
77$1,286,919$847,032$742,637$1,328,661
78$1,363,391$833,743$712,722$1,396,015
79$1,445,937$818,077$680,078$1,468,572
80$1,535,122$799,863$644,561$1,546,829
81$1,631,568$778,919$606,017$1,631,332
82$1,735,957$755,056$564,288$1,722,685
83$1,849,040$728,069$519,207$1,821,552
84$1,971,642$697,744$470,600$1,928,664
85$2,104,670$663,854$418,286$2,044,828
86$2,249,123$626,159$362,074$2,170,932
87$2,406,097$584,405$301,768$2,307,954
88$2,576,802$538,323$237,160$2,456,973
89$2,762,564$487,629$168,033$2,619,178
90$2,964,847$432,024$94,163$2,795,877
91$3,185,258$371,190$15,315$2,988,514
92$3,425,568$304,792$0$3,198,679
93$3,687,726$232,476$0$3,434,001
94$3,973,874$153,869$0$3,692,313
95$4,286,376$68,574$0$3,974,458
96$4,627,827$0$0$4,282,807
97$5,001,091$0$0$4,622,069
98$5,409,316$0$0$4,999,724
99$5,855,971$0$0$5,412,944
100$6,344,874$0$0$5,865,266