Can I retire at age 71 with 898,000?

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 $898,000?

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%
1 years$74,156$73,495$72,851$72,222$71,608$71,276
2 years$36,711$36,027$35,365$34,722$34,099$33,764
3 years$24,231$23,544$22,883$22,247$21,634$21,306
4 years$17,992$17,307$16,653$16,028$15,429$15,112
5 years$14,250$13,569$12,924$12,311$11,729$11,422
6 years$11,756$11,080$10,444$9,845$9,281$8,985
7 years$9,975$9,305$8,679$8,094$7,548$7,263
8 years$8,640$7,976$7,361$6,790$6,262$5,988
9 years$7,602$6,945$6,340$5,784$5,273$5,011
10 years$6,772$6,122$5,527$4,985$4,493$4,242
11 years$6,094$5,450$4,866$4,339$3,864$3,624
12 years$5,529$4,891$4,318$3,806$3,349$3,119
13 years$5,051$4,420$3,858$3,360$2,920$2,701
14 years$4,642$4,018$3,467$2,983$2,560$2,351
15 years$4,288$3,670$3,130$2,660$2,254$2,055
16 years$3,978$3,368$2,838$2,382$1,992$1,803
17 years$3,706$3,101$2,582$2,140$1,766$1,587
18 years$3,463$2,866$2,357$1,928$1,570$1,400
19 years$3,247$2,656$2,158$1,743$1,400$1,238
20 years$3,052$2,468$1,980$1,578$1,250$1,097
21 years$2,876$2,299$1,822$1,432$1,119$974
22 years$2,716$2,146$1,679$1,302$1,003$866
23 years$2,571$2,007$1,550$1,186$900$771
24 years$2,438$1,881$1,434$1,082$809$688
25 years$2,315$1,765$1,328$988$728$614
26 years$2,202$1,659$1,231$903$656$548
27 years$2,098$1,561$1,144$827$591$490
28 years$2,001$1,471$1,063$758$534$438
29 years$1,912$1,388$989$695$482$392
30 years$1,828$1,310$921$638$435$351
31 years$1,750$1,239$859$586$394$315
32 years$1,677$1,172$802$538$356$282
33 years$1,608$1,110$748$495$322$253
34 years$1,544$1,052$699$455$292$227
35 years$1,483$998$654$419$264$204
36 years$1,426$947$612$386$239$183
37 years$1,372$900$572$356$217$164
38 years$1,322$855$536$328$197$148
39 years$1,273$813$502$302$178$133
40 years$1,228$773$471$279$162$119
41 years$1,184$736$441$257$147$107
42 years$1,143$701$414$237$133$96
43 years$1,104$668$389$219$121$87
44 years$1,067$637$365$202$110$78
45 years$1,031$607$342$187$100$70
46 years$998$579$322$173$90$63
47 years$965$553$302$159$82$57
48 years$935$528$284$147$75$51
49 years$905$504$267$136$68$46
50 years$877$481$251$126$62$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $898,000, adding $6,974 every year, while hoping to spend $55,970 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: 80/8/12 Blend
70$898,000$898,000$898,000$898,000
71$996,790$949,196$935,277$1,073,775
72$1,038,911$936,155$907,057$1,112,291
73$1,083,452$920,599$876,016$1,146,572
74$1,130,602$902,346$842,000$1,182,561
75$1,180,564$881,202$804,848$1,220,406
76$1,233,565$856,964$764,394$1,260,264
77$1,289,848$829,414$720,460$1,302,312
78$1,349,681$798,324$672,864$1,346,745
79$1,413,357$763,451$621,414$1,393,777
80$1,481,198$724,538$565,910$1,443,645
81$1,553,555$681,315$506,142$1,496,610
82$1,630,811$633,494$441,892$1,552,961
83$1,713,391$580,772$372,932$1,613,015
84$1,801,754$522,827$299,023$1,677,124
85$1,896,409$459,322$219,916$1,745,675
86$1,997,912$389,897$135,352$1,819,097
87$2,106,872$314,175$45,060$1,897,863
88$2,223,959$231,756$0$1,982,494
89$2,349,907$142,217$0$2,080,134
90$2,485,524$45,112$0$2,191,436
91$2,631,696$0$0$2,311,364
92$2,789,396$0$0$2,446,021
93$2,959,693$0$0$2,595,741
94$3,143,762$0$0$2,757,591
95$3,342,895$0$0$2,932,707
96$3,558,511$0$0$3,122,341
97$3,792,172$0$0$3,327,869
98$4,045,592$0$0$3,550,802
99$4,320,660$0$0$3,792,804
100$4,619,451$0$0$4,055,705