Can I retire at age 71 with 904,000?

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 $904,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$74,651$73,987$73,338$72,705$72,086$70,718
2 years$36,956$36,268$35,601$34,954$34,327$32,953
3 years$24,393$23,701$23,036$22,395$21,778$20,443
4 years$18,112$17,423$16,764$16,135$15,532$14,245
5 years$14,345$13,660$13,010$12,393$11,808$10,572
6 years$11,834$11,154$10,514$9,911$9,343$8,161
7 years$10,042$9,367$8,737$8,148$7,598$6,469
8 years$8,698$8,030$7,410$6,835$6,304$5,228
9 years$7,653$6,991$6,382$5,822$5,308$4,285
10 years$6,818$6,162$5,564$5,019$4,523$3,552
11 years$6,135$5,486$4,898$4,368$3,890$2,969
12 years$5,566$4,924$4,347$3,831$3,371$2,499
13 years$5,085$4,450$3,884$3,382$2,940$2,116
14 years$4,673$4,045$3,490$3,002$2,577$1,799
15 years$4,317$3,695$3,151$2,678$2,269$1,536
16 years$4,005$3,390$2,857$2,398$2,005$1,315
17 years$3,730$3,122$2,599$2,154$1,778$1,129
18 years$3,486$2,885$2,373$1,941$1,581$972
19 years$3,268$2,674$2,172$1,754$1,409$838
20 years$3,072$2,485$1,994$1,589$1,259$724
21 years$2,895$2,314$1,834$1,442$1,126$626
22 years$2,735$2,160$1,690$1,311$1,010$542
23 years$2,588$2,021$1,561$1,194$906$470
24 years$2,454$1,893$1,443$1,089$815$408
25 years$2,331$1,777$1,337$995$733$354
26 years$2,217$1,670$1,240$909$660$307
27 years$2,112$1,571$1,151$832$595$267
28 years$2,015$1,481$1,070$763$537$232
29 years$1,924$1,397$996$699$485$202
30 years$1,840$1,319$928$642$438$176
31 years$1,762$1,247$865$589$396$153
32 years$1,688$1,180$807$542$358$134
33 years$1,619$1,117$753$498$324$116
34 years$1,554$1,059$704$458$294$101
35 years$1,493$1,005$658$422$266$88
36 years$1,436$953$616$389$241$77
37 years$1,382$906$576$358$218$67
38 years$1,330$861$540$330$198$59
39 years$1,282$818$506$304$180$51
40 years$1,236$779$474$281$163$45
41 years$1,192$741$444$259$148$39
42 years$1,151$706$417$239$134$34
43 years$1,112$673$391$221$122$30
44 years$1,074$641$367$204$110$26
45 years$1,038$611$345$188$100$22
46 years$1,004$583$324$174$91$20
47 years$972$557$304$161$83$17
48 years$941$531$286$148$75$15
49 years$911$507$269$137$68$13
50 years$883$485$253$127$62$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $904,000, adding $4,955 every year, while hoping to spend $38,509 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: 75/6/19 Blend
70$904,000$904,000$904,000$904,000
71$1,001,319$953,407$939,395$1,071,623
72$1,062,480$959,151$929,892$1,124,623
73$1,128,589$963,885$918,779$1,177,489
74$1,200,110$967,520$905,963$1,234,427
75$1,277,553$969,960$891,344$1,295,834
76$1,361,478$971,103$874,819$1,362,147
77$1,452,503$970,841$856,279$1,433,847
78$1,551,305$969,059$835,611$1,511,466
79$1,658,630$965,635$812,697$1,595,588
80$1,775,299$960,440$787,410$1,686,860
81$1,902,214$953,336$759,623$1,785,994
82$2,040,368$944,177$729,198$1,893,774
83$2,190,854$932,810$695,995$2,011,066
84$2,354,874$919,071$659,863$2,138,824
85$2,533,751$902,785$620,649$2,278,102
86$2,728,942$883,771$578,189$2,430,059
87$2,942,050$861,831$532,315$2,595,975
88$3,174,841$836,762$482,849$2,777,261
89$3,429,255$808,345$429,605$2,975,473
90$3,707,434$776,348$372,391$3,192,326
91$4,011,731$740,528$311,005$3,429,713
92$4,344,740$700,626$245,236$3,689,718
93$4,709,315$656,369$174,864$3,974,641
94$5,108,602$607,468$99,659$4,287,019
95$5,546,063$553,617$19,380$4,629,646
96$6,025,511$494,494$0$5,005,605
97$6,551,146$429,756$0$5,431,734
98$7,127,592$359,044$0$5,903,407
99$7,759,946$281,977$0$6,420,877
100$8,453,818$198,151$0$6,988,757