Can I retire at age 71 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$69,944$69,321$68,714$68,120$67,541$66,836
2 years$34,626$33,981$33,356$32,750$32,162$31,452
3 years$22,855$22,207$21,584$20,983$20,405$19,712
4 years$16,970$16,325$15,707$15,117$14,553$13,882
5 years$13,440$12,799$12,190$11,612$11,063$10,417
6 years$11,088$10,451$9,851$9,286$8,754$8,133
7 years$9,408$8,777$8,186$7,634$7,119$6,523
8 years$8,149$7,523$6,943$6,404$5,906$5,336
9 years$7,170$6,550$5,980$5,455$4,974$4,429
10 years$6,388$5,774$5,213$4,702$4,238$3,718
11 years$5,748$5,140$4,590$4,092$3,645$3,149
12 years$5,215$4,613$4,073$3,590$3,158$2,686
13 years$4,765$4,169$3,639$3,169$2,754$2,306
14 years$4,379$3,790$3,270$2,813$2,414$1,988
15 years$4,045$3,462$2,952$2,509$2,126$1,722
16 years$3,753$3,176$2,677$2,246$1,879$1,496
17 years$3,495$2,925$2,436$2,018$1,666$1,304
18 years$3,267$2,703$2,223$1,819$1,481$1,139
19 years$3,062$2,505$2,035$1,644$1,320$998
20 years$2,879$2,328$1,868$1,489$1,179$875
21 years$2,713$2,168$1,718$1,351$1,055$769
22 years$2,562$2,024$1,584$1,228$946$677
23 years$2,425$1,893$1,462$1,119$849$596
24 years$2,299$1,774$1,352$1,020$763$526
25 years$2,184$1,665$1,252$932$687$464
26 years$2,077$1,564$1,162$852$619$410
27 years$1,979$1,472$1,079$780$558$362
28 years$1,888$1,387$1,003$715$503$321
29 years$1,803$1,309$933$655$454$284
30 years$1,724$1,236$869$601$411$251
31 years$1,650$1,168$810$552$371$223
32 years$1,581$1,106$756$508$336$197
33 years$1,517$1,047$706$467$304$175
34 years$1,456$992$660$429$275$155
35 years$1,399$941$617$395$249$138
36 years$1,345$893$577$364$226$122
37 years$1,294$848$540$335$205$108
38 years$1,246$806$506$309$186$96
39 years$1,201$767$474$285$168$85
40 years$1,158$730$444$263$153$76
41 years$1,117$694$416$243$138$67
42 years$1,078$661$391$224$126$60
43 years$1,041$630$366$207$114$53
44 years$1,006$601$344$191$103$47
45 years$973$573$323$176$94$42
46 years$941$546$303$163$85$37
47 years$911$521$285$150$77$33
48 years$881$498$268$139$70$29
49 years$854$475$252$128$64$26
50 years$827$454$237$119$58$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $847,000, adding $5,121 every year, while hoping to spend $47,978 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: 43/45/12 Blend
70$847,000$847,000$847,000$847,000
71$938,676$893,785$880,657$975,562
72$983,373$886,533$859,111$994,586
73$1,031,021$877,316$835,235$1,009,965
74$1,081,870$865,990$808,900$1,025,564
75$1,136,195$852,398$779,972$1,041,422
76$1,194,296$836,375$748,311$1,057,587
77$1,256,503$817,746$713,768$1,074,114
78$1,323,178$796,327$676,191$1,091,068
79$1,394,716$771,921$635,417$1,108,525
80$1,471,554$744,321$591,280$1,126,573
81$1,554,168$713,309$543,604$1,145,312
82$1,643,083$678,651$492,204$1,164,859
83$1,738,874$640,102$436,890$1,185,347
84$1,842,175$597,402$377,461$1,206,929
85$1,953,679$550,277$313,708$1,229,777
86$2,074,150$498,436$245,413$1,254,090
87$2,204,427$441,573$172,348$1,280,093
88$2,345,431$379,363$94,274$1,308,039
89$2,498,177$311,463$10,944$1,338,218
90$2,663,778$237,512$0$1,370,953
91$2,843,460$157,127$0$1,416,597
92$3,038,572$69,905$0$1,467,722
93$3,250,594$0$0$1,523,427
94$3,481,159$0$0$1,596,444
95$3,732,060$0$0$1,713,662
96$4,005,271$0$0$1,841,399
97$4,302,965$0$0$1,980,684
98$4,627,532$0$0$2,132,646
99$4,981,604$0$0$2,298,531
100$5,368,075$0$0$2,479,710