Can I retire at age 71 with 884,000?

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 $884,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$73,000$72,350$71,715$71,096$70,491$70,077
2 years$36,139$35,466$34,813$34,181$33,567$33,149
3 years$23,853$23,177$22,526$21,900$21,296$20,887
4 years$17,712$17,038$16,393$15,778$15,189$14,792
5 years$14,028$13,358$12,722$12,119$11,546$11,163
6 years$11,572$10,908$10,281$9,691$9,136$8,767
7 years$9,819$9,160$8,544$7,968$7,430$7,075
8 years$8,505$7,852$7,246$6,684$6,164$5,823
9 years$7,484$6,837$6,241$5,693$5,191$4,865
10 years$6,667$6,026$5,441$4,908$4,423$4,111
11 years$5,999$5,365$4,790$4,271$3,804$3,505
12 years$5,443$4,815$4,251$3,746$3,296$3,011
13 years$4,973$4,351$3,798$3,308$2,875$2,603
14 years$4,570$3,955$3,413$2,936$2,520$2,261
15 years$4,221$3,613$3,081$2,618$2,219$1,973
16 years$3,916$3,315$2,793$2,345$1,961$1,727
17 years$3,648$3,053$2,542$2,107$1,739$1,517
18 years$3,409$2,821$2,320$1,898$1,546$1,336
19 years$3,196$2,615$2,124$1,715$1,378$1,179
20 years$3,004$2,430$1,950$1,554$1,231$1,042
21 years$2,831$2,263$1,793$1,410$1,101$923
22 years$2,674$2,113$1,653$1,282$987$819
23 years$2,531$1,976$1,526$1,168$886$728
24 years$2,400$1,851$1,411$1,065$797$647
25 years$2,279$1,737$1,307$973$717$576
26 years$2,168$1,633$1,212$889$646$513
27 years$2,065$1,537$1,126$814$582$458
28 years$1,970$1,448$1,047$746$525$409
29 years$1,882$1,366$974$684$474$365
30 years$1,799$1,290$907$628$429$326
31 years$1,723$1,219$846$576$387$291
32 years$1,651$1,154$789$530$350$261
33 years$1,583$1,093$737$487$317$233
34 years$1,520$1,036$688$448$287$209
35 years$1,460$982$644$413$260$187
36 years$1,404$932$602$380$236$167
37 years$1,351$886$563$350$214$150
38 years$1,301$842$528$323$194$134
39 years$1,253$800$494$298$176$120
40 years$1,209$761$463$274$159$108
41 years$1,166$725$435$253$144$97
42 years$1,125$690$408$234$131$87
43 years$1,087$658$382$216$119$78
44 years$1,050$627$359$199$108$70
45 years$1,015$598$337$184$98$63
46 years$982$570$317$170$89$56
47 years$950$544$297$157$81$50
48 years$920$520$280$145$73$45
49 years$891$496$263$134$67$40
50 years$863$474$247$124$61$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $884,000, adding $6,882 every year, while hoping to spend $27,409 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: 63/12/25 Blend
70$884,000$884,000$884,000$884,000
71$981,267$934,415$920,713$1,036,210
72$1,052,193$951,038$922,394$1,090,825
73$1,129,435$967,557$923,212$1,146,815
74$1,213,608$983,939$923,111$1,207,363
75$1,305,390$1,000,145$922,028$1,272,920
76$1,405,525$1,016,137$919,902$1,343,983
77$1,514,834$1,031,873$916,663$1,421,097
78$1,634,219$1,047,308$912,244$1,504,867
79$1,764,675$1,062,392$906,570$1,595,957
80$1,907,297$1,077,073$899,565$1,695,102
81$2,063,289$1,091,297$891,148$1,803,108
82$2,233,977$1,105,004$881,234$1,920,870
83$2,420,823$1,118,129$869,736$2,049,369
84$2,625,435$1,130,606$856,560$2,189,691
85$2,849,584$1,142,361$841,610$2,343,031
86$3,095,222$1,153,317$824,784$2,510,707
87$3,364,498$1,163,392$805,977$2,694,174
88$3,659,776$1,172,497$785,077$2,895,035
89$3,983,664$1,180,540$761,968$3,115,058
90$4,339,032$1,187,421$736,528$3,356,191
91$4,729,042$1,193,034$708,631$3,620,584
92$5,157,177$1,197,265$678,143$3,910,606
93$5,627,274$1,199,996$644,925$4,228,871
94$6,143,559$1,201,099$608,833$4,578,259
95$6,710,687$1,200,438$569,714$4,961,945
96$7,333,788$1,197,870$527,410$5,383,433
97$8,018,511$1,193,243$481,755$5,846,582
98$8,771,081$1,186,394$432,576$6,355,649
99$9,598,356$1,177,152$379,692$6,915,327
100$10,507,891$1,165,334$322,914$7,530,790