Can I retire at age 71 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$75,642$74,969$74,311$73,670$73,043$72,705
2 years$37,447$36,749$36,073$35,418$34,782$34,441
3 years$24,717$24,016$23,342$22,693$22,067$21,733
4 years$18,353$17,654$16,987$16,349$15,739$15,414
5 years$14,535$13,841$13,183$12,557$11,964$11,651
6 years$11,991$11,302$10,653$10,042$9,467$9,165
7 years$10,175$9,492$8,853$8,256$7,699$7,409
8 years$8,813$8,136$7,508$6,926$6,387$6,108
9 years$7,755$7,084$6,467$5,899$5,379$5,111
10 years$6,908$6,244$5,638$5,085$4,583$4,327
11 years$6,216$5,559$4,963$4,426$3,942$3,697
12 years$5,640$4,989$4,405$3,882$3,416$3,182
13 years$5,153$4,509$3,936$3,427$2,979$2,755
14 years$4,735$4,098$3,536$3,042$2,611$2,398
15 years$4,374$3,744$3,193$2,713$2,299$2,096
16 years$4,058$3,435$2,895$2,429$2,032$1,839
17 years$3,780$3,164$2,634$2,183$1,802$1,619
18 years$3,533$2,923$2,404$1,967$1,602$1,428
19 years$3,312$2,709$2,201$1,777$1,428$1,263
20 years$3,113$2,518$2,020$1,610$1,275$1,119
21 years$2,934$2,345$1,858$1,461$1,141$994
22 years$2,771$2,189$1,713$1,328$1,023$884
23 years$2,622$2,047$1,581$1,210$918$787
24 years$2,486$1,918$1,462$1,103$825$701
25 years$2,362$1,800$1,354$1,008$743$626
26 years$2,247$1,692$1,256$921$669$559
27 years$2,140$1,592$1,166$843$603$500
28 years$2,042$1,500$1,084$773$544$447
29 years$1,950$1,415$1,009$709$491$400
30 years$1,865$1,337$940$650$444$358
31 years$1,785$1,264$876$597$401$321
32 years$1,710$1,196$818$549$363$288
33 years$1,640$1,132$763$505$329$258
34 years$1,575$1,073$713$464$298$232
35 years$1,513$1,018$667$428$270$208
36 years$1,455$966$624$394$244$187
37 years$1,400$918$584$363$221$168
38 years$1,348$872$547$334$201$151
39 years$1,299$829$512$308$182$135
40 years$1,252$789$480$284$165$122
41 years$1,208$751$450$262$150$109
42 years$1,166$715$422$242$136$98
43 years$1,126$681$396$224$123$88
44 years$1,088$650$372$206$112$79
45 years$1,052$619$349$191$102$71
46 years$1,018$591$328$176$92$64
47 years$985$564$308$163$84$58
48 years$953$538$290$150$76$52
49 years$923$514$272$139$69$47
50 years$894$491$256$128$63$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $916,000, adding $2,457 every year, while hoping to spend $38,758 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: 45/30/25 Blend
70$916,000$916,000$916,000$916,000
71$1,011,966$963,418$949,220$1,050,102
72$1,073,949$969,388$939,781$1,083,298
73$1,140,954$974,350$928,727$1,115,321
74$1,213,455$978,217$915,962$1,149,285
75$1,291,968$980,890$901,387$1,185,390
76$1,377,063$982,269$884,899$1,223,861
77$1,469,368$982,244$866,387$1,264,946
78$1,569,571$980,702$845,739$1,308,921
79$1,678,431$977,519$822,834$1,356,093
80$1,796,780$972,566$797,548$1,406,801
81$1,925,535$965,706$769,750$1,461,425
82$2,065,707$956,793$739,303$1,520,383
83$2,218,404$945,671$706,066$1,584,140
84$2,384,850$932,177$669,887$1,653,212
85$2,566,388$916,138$630,612$1,728,172
86$2,764,500$897,368$588,077$1,809,653
87$2,980,813$875,674$542,112$1,898,357
88$3,217,122$850,847$492,539$1,995,064
89$3,475,400$822,671$439,171$2,100,636
90$3,757,823$790,914$381,815$2,216,027
91$4,066,782$755,330$320,267$2,342,296
92$4,404,913$715,660$254,315$2,480,612
93$4,775,118$671,632$183,739$2,632,273
94$5,180,593$622,954$108,307$2,798,711
95$5,624,856$569,322$27,778$2,981,514
96$6,111,783$510,410$0$3,182,435
97$6,645,642$445,878$0$3,418,932
98$7,231,134$375,362$0$3,686,552
99$7,873,437$298,482$0$3,980,325
100$8,578,254$214,834$0$4,302,951