Can I retire at age 71 with 907,000?

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 $907,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$74,899$74,232$73,581$72,946$72,325$71,809
2 years$37,079$36,388$35,719$35,070$34,441$33,920
3 years$24,474$23,780$23,113$22,470$21,851$21,342
4 years$18,172$17,481$16,820$16,188$15,584$15,091
5 years$14,393$13,705$13,053$12,434$11,847$11,371
6 years$11,873$11,191$10,549$9,944$9,374$8,916
7 years$10,075$9,398$8,766$8,175$7,624$7,184
8 years$8,726$8,056$7,434$6,858$6,324$5,903
9 years$7,678$7,014$6,403$5,841$5,326$4,922
10 years$6,840$6,183$5,582$5,035$4,538$4,152
11 years$6,155$5,504$4,915$4,382$3,903$3,534
12 years$5,584$4,940$4,362$3,844$3,382$3,030
13 years$5,102$4,465$3,897$3,394$2,949$2,614
14 years$4,689$4,058$3,501$3,012$2,585$2,266
15 years$4,331$3,707$3,161$2,687$2,276$1,973
16 years$4,018$3,401$2,866$2,406$2,012$1,724
17 years$3,743$3,132$2,608$2,161$1,784$1,511
18 years$3,498$2,895$2,381$1,948$1,586$1,328
19 years$3,279$2,683$2,180$1,760$1,414$1,169
20 years$3,083$2,493$2,000$1,594$1,263$1,032
21 years$2,905$2,322$1,840$1,447$1,130$912
22 years$2,744$2,167$1,696$1,315$1,013$807
23 years$2,597$2,027$1,566$1,198$909$716
24 years$2,462$1,899$1,448$1,093$817$635
25 years$2,338$1,782$1,341$998$735$564
26 years$2,224$1,675$1,244$912$662$501
27 years$2,119$1,577$1,155$835$597$446
28 years$2,022$1,486$1,074$765$539$397
29 years$1,931$1,401$999$702$487$354
30 years$1,846$1,324$931$644$440$315
31 years$1,767$1,251$868$591$398$281
32 years$1,694$1,184$810$544$360$251
33 years$1,624$1,121$756$500$325$224
34 years$1,559$1,063$706$460$295$200
35 years$1,498$1,008$660$423$267$178
36 years$1,441$957$618$390$242$159
37 years$1,386$909$578$359$219$142
38 years$1,335$863$541$331$199$127
39 years$1,286$821$507$305$180$114
40 years$1,240$781$475$282$163$102
41 years$1,196$744$446$260$148$91
42 years$1,155$708$418$240$135$81
43 years$1,115$675$392$221$122$73
44 years$1,078$643$368$204$111$65
45 years$1,042$613$346$189$101$58
46 years$1,008$585$325$174$91$52
47 years$975$558$305$161$83$47
48 years$944$533$287$149$75$42
49 years$914$509$270$138$68$37
50 years$886$486$253$127$62$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $907,000, adding $5,990 every year, while hoping to spend $40,661 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: 52/42/6 Blend
70$907,000$907,000$907,000$907,000
71$1,005,693$957,622$943,563$1,056,254
72$1,065,010$961,282$931,910$1,094,875
73$1,129,016$963,759$918,503$1,131,916
74$1,198,144$964,952$903,241$1,171,214
75$1,272,873$964,753$886,018$1,212,991
76$1,353,729$963,049$866,723$1,257,490
77$1,441,289$959,718$845,238$1,304,983
78$1,536,189$954,633$821,442$1,355,769
79$1,639,128$947,657$795,208$1,410,181
80$1,750,873$938,647$766,401$1,468,587
81$1,872,269$927,448$734,883$1,531,396
82$2,004,247$913,899$700,507$1,599,059
83$2,147,828$897,827$663,122$1,672,078
84$2,304,137$879,051$622,567$1,751,008
85$2,474,412$857,378$578,677$1,836,461
86$2,660,016$832,604$531,276$1,929,120
87$2,862,448$804,512$480,184$2,029,735
88$3,083,358$772,873$425,211$2,139,141
89$3,324,562$737,445$366,157$2,258,260
90$3,588,060$697,973$302,816$2,388,111
91$3,876,054$654,185$234,972$2,529,823
92$4,190,966$605,795$162,398$2,684,646
93$4,535,465$552,499$84,859$2,853,961
94$4,912,489$493,978$2,108$3,039,294
95$5,325,273$429,894$0$3,242,335
96$5,777,380$359,888$0$3,470,470
97$6,272,734$283,583$0$3,720,748
98$6,815,654$200,581$0$3,995,334
99$7,410,901$110,458$0$4,296,769
100$8,063,713$12,772$0$4,627,861