Can I retire at age 71 with 898,000?

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 $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%13.6%
1 years$74,156$73,495$72,851$72,222$71,608$70,538
2 years$36,711$36,027$35,365$34,722$34,099$33,023
3 years$24,231$23,544$22,883$22,247$21,634$20,586
4 years$17,992$17,307$16,653$16,028$15,429$14,418
5 years$14,250$13,569$12,924$12,311$11,729$10,756
6 years$11,756$11,080$10,444$9,845$9,281$8,348
7 years$9,975$9,305$8,679$8,094$7,548$6,655
8 years$8,640$7,976$7,361$6,790$6,262$5,409
9 years$7,602$6,945$6,340$5,784$5,273$4,460
10 years$6,772$6,122$5,527$4,985$4,493$3,719
11 years$6,094$5,450$4,866$4,339$3,864$3,129
12 years$5,529$4,891$4,318$3,806$3,349$2,651
13 years$5,051$4,420$3,858$3,360$2,920$2,259
14 years$4,642$4,018$3,467$2,983$2,560$1,934
15 years$4,288$3,670$3,130$2,660$2,254$1,662
16 years$3,978$3,368$2,838$2,382$1,992$1,433
17 years$3,706$3,101$2,582$2,140$1,766$1,240
18 years$3,463$2,866$2,357$1,928$1,570$1,075
19 years$3,247$2,656$2,158$1,743$1,400$933
20 years$3,052$2,468$1,980$1,578$1,250$812
21 years$2,876$2,299$1,822$1,432$1,119$708
22 years$2,716$2,146$1,679$1,302$1,003$618
23 years$2,571$2,007$1,550$1,186$900$540
24 years$2,438$1,881$1,434$1,082$809$472
25 years$2,315$1,765$1,328$988$728$413
26 years$2,202$1,659$1,231$903$656$362
27 years$2,098$1,561$1,144$827$591$317
28 years$2,001$1,471$1,063$758$534$278
29 years$1,912$1,388$989$695$482$244
30 years$1,828$1,310$921$638$435$214
31 years$1,750$1,239$859$586$394$188
32 years$1,677$1,172$802$538$356$165
33 years$1,608$1,110$748$495$322$145
34 years$1,544$1,052$699$455$292$127
35 years$1,483$998$654$419$264$112
36 years$1,426$947$612$386$239$98
37 years$1,372$900$572$356$217$86
38 years$1,322$855$536$328$197$76
39 years$1,273$813$502$302$178$67
40 years$1,228$773$471$279$162$59
41 years$1,184$736$441$257$147$52
42 years$1,143$701$414$237$133$46
43 years$1,104$668$389$219$121$40
44 years$1,067$637$365$202$110$35
45 years$1,031$607$342$187$100$31
46 years$998$579$322$173$90$27
47 years$965$553$302$159$82$24
48 years$935$528$284$147$75$21
49 years$905$504$267$136$68$19
50 years$877$481$251$126$62$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $898,000, adding $5,064 every year, while hoping to spend $24,388 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: 61/17/22 Blend
70$898,000$898,000$898,000$898,000
71$994,820$947,226$933,307$1,049,455
72$1,070,342$967,691$938,624$1,107,511
73$1,152,751$988,342$943,302$1,167,718
74$1,242,723$1,009,161$947,293$1,232,884
75$1,341,002$1,030,131$950,548$1,303,497
76$1,448,408$1,051,232$953,016$1,380,091
77$1,565,844$1,072,441$954,641$1,463,258
78$1,694,305$1,093,735$955,365$1,553,648
79$1,834,883$1,115,088$955,130$1,651,979
80$1,988,786$1,136,471$953,871$1,759,041
81$2,157,338$1,157,855$951,522$1,875,707
82$2,342,003$1,179,205$948,014$2,002,936
83$2,544,389$1,200,488$943,274$2,141,788
84$2,766,268$1,221,664$937,225$2,293,430
85$3,009,593$1,242,691$929,788$2,459,150
86$3,276,514$1,263,525$920,878$2,640,364
87$3,569,399$1,284,119$910,408$2,838,638
88$3,890,857$1,304,420$898,286$3,055,693
89$4,243,761$1,324,373$884,415$3,293,432
90$4,631,276$1,343,919$868,695$3,553,946
91$5,056,890$1,362,994$851,020$3,839,546
92$5,524,442$1,381,530$831,279$4,152,776
93$6,038,165$1,399,455$809,356$4,496,442
94$6,602,720$1,416,691$785,132$4,873,635
95$7,223,243$1,433,154$758,479$5,287,764
96$7,905,390$1,448,755$729,265$5,742,587
97$8,655,396$1,463,400$697,351$6,242,246
98$9,480,128$1,476,988$662,594$6,791,306
99$10,387,152$1,489,411$624,842$7,394,800
100$11,384,804$1,500,555$583,936$8,058,275