Can I retire at age 71 with 912,000?

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 $912,000?

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 years$75,312$74,641$73,987$73,348$72,724$70,651
2 years$37,283$36,589$35,916$35,263$34,631$32,558
3 years$24,609$23,911$23,240$22,594$21,971$19,964
4 years$18,273$17,577$16,913$16,277$15,670$13,744
5 years$14,472$13,781$13,125$12,503$11,912$10,072
6 years$11,939$11,253$10,607$9,998$9,426$7,674
7 years$10,130$9,450$8,814$8,220$7,666$6,002
8 years$8,775$8,101$7,475$6,896$6,359$4,782
9 years$7,721$7,053$6,438$5,874$5,355$3,864
10 years$6,878$6,217$5,613$5,063$4,563$3,155
11 years$6,189$5,535$4,942$4,406$3,924$2,597
12 years$5,615$4,968$4,386$3,865$3,401$2,152
13 years$5,130$4,489$3,918$3,412$2,966$1,793
14 years$4,715$4,081$3,521$3,029$2,600$1,500
15 years$4,355$3,728$3,179$2,701$2,289$1,259
16 years$4,041$3,420$2,882$2,419$2,023$1,060
17 years$3,763$3,150$2,622$2,173$1,794$895
18 years$3,517$2,911$2,394$1,959$1,595$756
19 years$3,297$2,697$2,192$1,770$1,422$641
20 years$3,100$2,507$2,011$1,603$1,270$543
21 years$2,921$2,335$1,850$1,455$1,136$461
22 years$2,759$2,179$1,705$1,323$1,019$392
23 years$2,611$2,038$1,574$1,205$914$334
24 years$2,476$1,910$1,456$1,099$822$284
25 years$2,351$1,792$1,349$1,003$739$242
26 years$2,237$1,684$1,251$917$666$206
27 years$2,131$1,585$1,161$840$601$176
28 years$2,033$1,494$1,080$769$542$150
29 years$1,941$1,409$1,005$705$489$128
30 years$1,856$1,331$936$647$442$109
31 years$1,777$1,258$872$595$400$93
32 years$1,703$1,190$814$547$362$80
33 years$1,633$1,127$760$503$327$68
34 years$1,568$1,068$710$462$296$58
35 years$1,506$1,013$664$426$268$50
36 years$1,448$962$621$392$243$42
37 years$1,394$914$581$361$220$36
38 years$1,342$868$544$333$200$31
39 years$1,293$826$510$307$181$26
40 years$1,247$785$478$283$164$23
41 years$1,203$748$448$261$149$19
42 years$1,161$712$420$241$135$16
43 years$1,121$678$395$223$123$14
44 years$1,084$647$370$205$111$12
45 years$1,048$617$348$190$101$10
46 years$1,013$588$327$175$92$9
47 years$980$561$307$162$83$8
48 years$949$536$288$150$76$6
49 years$919$512$271$138$69$5
50 years$890$489$255$128$62$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $912,000, adding $5,726 every year, while hoping to spend $32,044 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: 63/17/20 Blend
70$912,000$912,000$912,000$912,000
71$1,010,930$962,594$948,458$1,069,086
72$1,079,951$975,667$946,137$1,122,027
73$1,154,937$988,306$942,664$1,175,708
74$1,236,464$1,000,457$937,967$1,233,593
75$1,325,165$1,012,060$931,970$1,296,095
76$1,421,734$1,023,053$924,593$1,363,668
77$1,526,937$1,033,369$915,753$1,436,815
78$1,641,617$1,042,937$905,363$1,516,091
79$1,766,700$1,051,679$893,332$1,602,106
80$1,903,208$1,059,516$879,563$1,695,535
81$2,052,263$1,066,360$863,956$1,797,122
82$2,215,102$1,072,119$846,406$1,907,686
83$2,393,086$1,076,697$826,805$2,028,134
84$2,587,714$1,079,988$805,036$2,159,464
85$2,800,635$1,081,882$780,979$2,302,775
86$3,033,668$1,082,262$754,509$2,459,284
87$3,288,811$1,081,002$725,495$2,630,330
88$3,568,269$1,077,971$693,798$2,817,390
89$3,874,468$1,073,027$659,276$3,022,094
90$4,210,080$1,066,021$621,777$3,246,239
91$4,578,047$1,056,795$581,146$3,491,809
92$4,981,610$1,045,180$537,217$3,760,989
93$5,424,340$1,031,000$489,820$4,056,191
94$5,910,169$1,014,065$438,774$4,380,075
95$6,443,427$994,175$383,895$4,735,573
96$7,028,886$971,119$324,984$5,125,919
97$7,671,801$944,673$261,840$5,554,680
98$8,377,961$914,598$194,248$6,025,790
99$9,153,745$880,645$121,987$6,543,584
100$10,006,176$842,546$44,823$7,112,847