Can I retire at age 71 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$73,330$72,677$72,040$71,418$70,810$69,352
2 years$36,302$35,626$34,971$34,335$33,719$32,257
3 years$23,961$23,282$22,628$21,999$21,393$19,972
4 years$17,792$17,115$16,468$15,849$15,258$13,889
5 years$14,091$13,418$12,780$12,174$11,599$10,286
6 years$11,625$10,957$10,328$9,735$9,178$7,923
7 years$9,864$9,202$8,582$8,004$7,464$6,267
8 years$8,544$7,887$7,279$6,714$6,192$5,052
9 years$7,517$6,867$6,269$5,719$5,215$4,132
10 years$6,697$6,053$5,466$4,930$4,443$3,416
11 years$6,026$5,389$4,812$4,291$3,821$2,848
12 years$5,467$4,837$4,270$3,763$3,311$2,391
13 years$4,995$4,371$3,815$3,322$2,888$2,019
14 years$4,591$3,973$3,428$2,949$2,531$1,712
15 years$4,240$3,630$3,095$2,630$2,229$1,458
16 years$3,934$3,330$2,806$2,355$1,970$1,245
17 years$3,664$3,067$2,553$2,116$1,746$1,066
18 years$3,425$2,834$2,331$1,907$1,553$914
19 years$3,211$2,626$2,134$1,723$1,384$786
20 years$3,018$2,441$1,958$1,561$1,236$677
21 years$2,844$2,273$1,801$1,416$1,106$584
22 years$2,686$2,122$1,660$1,288$992$504
23 years$2,542$1,985$1,533$1,173$890$435
24 years$2,410$1,860$1,418$1,070$800$377
25 years$2,289$1,745$1,313$977$720$326
26 years$2,178$1,640$1,218$893$649$282
27 years$2,075$1,544$1,131$818$585$245
28 years$1,979$1,454$1,051$749$528$212
29 years$1,890$1,372$978$687$476$184
30 years$1,808$1,296$911$630$430$160
31 years$1,730$1,225$850$579$389$138
32 years$1,658$1,159$793$532$352$120
33 years$1,590$1,098$740$489$319$104
34 years$1,527$1,040$691$450$288$91
35 years$1,467$987$646$414$261$79
36 years$1,410$937$605$382$237$68
37 years$1,357$890$566$352$215$59
38 years$1,307$845$530$324$195$52
39 years$1,259$804$497$299$176$45
40 years$1,214$765$465$276$160$39
41 years$1,171$728$436$254$145$34
42 years$1,131$693$409$235$132$29
43 years$1,092$661$384$217$120$26
44 years$1,055$630$361$200$108$22
45 years$1,020$600$339$185$98$19
46 years$987$573$318$171$89$17
47 years$955$547$299$158$81$15
48 years$924$522$281$146$74$13
49 years$895$498$264$135$67$11
50 years$867$476$248$124$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $888,000, adding $3,841 every year, while hoping to spend $36,937 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: 69/26/5 Blend
70$888,000$888,000$888,000$888,000
71$982,538$935,474$921,710$1,049,537
72$1,043,456$942,012$913,287$1,100,874
73$1,109,350$947,631$903,343$1,152,102
74$1,180,688$952,250$891,789$1,207,117
75$1,257,986$955,777$878,532$1,266,281
76$1,341,809$958,119$863,471$1,329,994
77$1,432,780$959,174$846,504$1,398,697
78$1,531,585$958,835$827,523$1,472,875
79$1,638,977$956,988$806,416$1,553,066
80$1,755,785$953,512$783,063$1,639,860
81$1,882,920$948,280$757,341$1,733,910
82$2,021,387$941,154$729,121$1,835,934
83$2,172,289$931,992$698,267$1,946,727
84$2,336,842$920,639$664,638$2,067,163
85$2,516,384$906,934$628,087$2,198,209
86$2,712,385$890,704$588,459$2,340,927
87$2,926,468$871,768$545,592$2,496,494
88$3,160,416$849,933$499,317$2,666,204
89$3,416,194$824,995$449,459$2,851,486
90$3,695,963$796,737$395,834$3,053,917
91$4,002,105$764,931$338,248$3,275,234
92$4,337,242$729,335$276,502$3,517,356
93$4,704,261$689,692$210,385$3,782,396
94$5,106,342$645,733$139,679$4,072,688
95$5,546,985$597,171$64,155$4,390,805
96$6,030,048$543,703$0$4,739,584
97$6,559,777$485,008$0$5,123,031
98$7,140,850$420,750$0$5,547,431
99$7,778,421$350,570$0$6,013,177
100$8,478,163$274,091$0$6,524,483