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%17.1%
1 years$74,899$74,232$73,581$72,946$72,325$70,235
2 years$37,079$36,388$35,719$35,070$34,441$32,352
3 years$24,474$23,780$23,113$22,470$21,851$19,828
4 years$18,172$17,481$16,820$16,188$15,584$13,643
5 years$14,393$13,705$13,053$12,434$11,847$9,993
6 years$11,873$11,191$10,549$9,944$9,374$7,609
7 years$10,075$9,398$8,766$8,175$7,624$5,948
8 years$8,726$8,056$7,434$6,858$6,324$4,737
9 years$7,678$7,014$6,403$5,841$5,326$3,825
10 years$6,840$6,183$5,582$5,035$4,538$3,121
11 years$6,155$5,504$4,915$4,382$3,903$2,568
12 years$5,584$4,940$4,362$3,844$3,382$2,127
13 years$5,102$4,465$3,897$3,394$2,949$1,770
14 years$4,689$4,058$3,501$3,012$2,585$1,480
15 years$4,331$3,707$3,161$2,687$2,276$1,241
16 years$4,018$3,401$2,866$2,406$2,012$1,044
17 years$3,743$3,132$2,608$2,161$1,784$881
18 years$3,498$2,895$2,381$1,948$1,586$744
19 years$3,279$2,683$2,180$1,760$1,414$630
20 years$3,083$2,493$2,000$1,594$1,263$534
21 years$2,905$2,322$1,840$1,447$1,130$453
22 years$2,744$2,167$1,696$1,315$1,013$385
23 years$2,597$2,027$1,566$1,198$909$327
24 years$2,462$1,899$1,448$1,093$817$278
25 years$2,338$1,782$1,341$998$735$237
26 years$2,224$1,675$1,244$912$662$202
27 years$2,119$1,577$1,155$835$597$172
28 years$2,022$1,486$1,074$765$539$146
29 years$1,931$1,401$999$702$487$125
30 years$1,846$1,324$931$644$440$106
31 years$1,767$1,251$868$591$398$91
32 years$1,694$1,184$810$544$360$77
33 years$1,624$1,121$756$500$325$66
34 years$1,559$1,063$706$460$295$56
35 years$1,498$1,008$660$423$267$48
36 years$1,441$957$618$390$242$41
37 years$1,386$909$578$359$219$35
38 years$1,335$863$541$331$199$30
39 years$1,286$821$507$305$180$26
40 years$1,240$781$475$282$163$22
41 years$1,196$744$446$260$148$19
42 years$1,155$708$418$240$135$16
43 years$1,115$675$392$221$122$14
44 years$1,078$643$368$204$111$12
45 years$1,042$613$346$189$101$10
46 years$1,008$585$325$174$91$8
47 years$975$558$305$161$83$7
48 years$944$533$287$149$75$6
49 years$914$509$270$138$68$5
50 years$886$486$253$127$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $907,000, adding $2,298 every year, while hoping to spend $27,762 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: 79/13/8 Blend
70$907,000$907,000$907,000$907,000
71$1,001,884$953,813$939,755$1,079,779
72$1,074,538$971,012$941,698$1,148,395
73$1,153,672$988,122$942,776$1,219,794
74$1,239,918$1,005,111$942,930$1,297,293
75$1,333,970$1,021,943$942,100$1,381,489
76$1,436,595$1,038,578$940,220$1,473,037
77$1,548,635$1,054,975$937,224$1,572,659
78$1,671,016$1,071,089$933,041$1,681,150
79$1,804,759$1,086,872$927,597$1,799,387
80$1,950,987$1,102,272$920,815$1,928,333
81$2,110,939$1,117,234$912,613$2,069,053
82$2,285,975$1,131,699$902,906$2,222,717
83$2,477,597$1,145,604$891,606$2,390,614
84$2,687,455$1,158,882$878,618$2,574,166
85$2,917,368$1,171,461$863,845$2,774,939
86$3,169,341$1,183,263$847,184$2,994,658
87$3,445,578$1,194,207$828,529$3,235,223
88$3,748,509$1,204,206$807,767$3,498,729
89$4,080,811$1,213,166$784,782$3,787,484
90$4,445,432$1,220,989$759,450$4,104,029
91$4,845,618$1,227,570$731,643$4,451,167
92$5,284,946$1,232,795$701,228$4,831,985
93$5,767,354$1,236,546$668,064$5,249,885
94$6,297,184$1,238,697$632,003$5,708,616
95$6,879,216$1,239,112$592,894$6,212,309
96$7,518,716$1,237,648$550,576$6,765,517
97$8,221,486$1,234,155$504,882$7,373,256
98$8,993,919$1,228,469$455,636$8,041,054
99$9,843,055$1,220,421$402,657$8,775,004
100$10,776,654$1,209,829$345,753$9,581,820