Can I retire at age 71 with 922,000?

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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$76,138$75,460$74,798$74,152$73,522$72,423
2 years$37,692$36,990$36,310$35,650$35,010$33,906
3 years$24,878$24,173$23,495$22,841$22,212$21,136
4 years$18,473$17,770$17,098$16,456$15,842$14,803
5 years$14,631$13,932$13,269$12,640$12,043$11,044
6 years$12,070$11,376$10,723$10,108$9,529$8,571
7 years$10,241$9,554$8,911$8,310$7,750$6,833
8 years$8,871$8,189$7,557$6,971$6,429$5,554
9 years$7,805$7,130$6,509$5,938$5,414$4,580
10 years$6,953$6,285$5,675$5,119$4,613$3,819
11 years$6,257$5,595$4,996$4,455$3,967$3,213
12 years$5,677$5,022$4,434$3,907$3,438$2,722
13 years$5,186$4,538$3,961$3,450$2,998$2,319
14 years$4,766$4,125$3,559$3,062$2,628$1,986
15 years$4,403$3,769$3,214$2,731$2,314$1,707
16 years$4,085$3,458$2,914$2,445$2,045$1,472
17 years$3,805$3,184$2,651$2,197$1,813$1,273
18 years$3,556$2,942$2,420$1,980$1,612$1,103
19 years$3,333$2,727$2,216$1,789$1,437$958
20 years$3,134$2,534$2,033$1,620$1,284$834
21 years$2,953$2,360$1,870$1,471$1,149$727
22 years$2,789$2,203$1,724$1,337$1,030$634
23 years$2,640$2,061$1,592$1,218$924$554
24 years$2,503$1,931$1,472$1,111$831$484
25 years$2,377$1,812$1,363$1,014$748$424
26 years$2,261$1,703$1,264$927$673$371
27 years$2,154$1,603$1,174$849$607$325
28 years$2,055$1,510$1,091$778$548$285
29 years$1,963$1,425$1,016$713$495$250
30 years$1,877$1,345$946$655$447$220
31 years$1,797$1,272$882$601$404$193
32 years$1,722$1,203$823$552$366$169
33 years$1,651$1,140$768$508$331$149
34 years$1,585$1,080$718$467$300$131
35 years$1,523$1,025$671$430$271$115
36 years$1,464$972$628$396$246$101
37 years$1,409$924$588$365$223$89
38 years$1,357$878$550$337$202$78
39 years$1,307$835$516$310$183$69
40 years$1,261$794$483$286$166$60
41 years$1,216$756$453$264$151$53
42 years$1,174$720$425$244$137$47
43 years$1,134$686$399$225$124$41
44 years$1,095$654$374$208$113$36
45 years$1,059$623$352$192$102$32
46 years$1,024$595$330$177$93$28
47 years$991$568$310$164$84$25
48 years$959$542$292$151$77$22
49 years$929$517$274$140$70$19
50 years$900$494$258$129$63$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $922,000, adding $4,293 every year, while hoping to spend $34,148 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: 56/25/19 Blend
70$922,000$922,000$922,000$922,000
71$1,020,472$971,606$957,315$1,072,205
72$1,088,227$982,882$953,052$1,119,225
73$1,161,749$993,565$947,502$1,166,395
74$1,241,589$1,003,592$940,585$1,217,027
75$1,328,355$1,012,892$932,218$1,271,460
76$1,422,715$1,021,391$922,316$1,330,071
77$1,525,404$1,029,012$910,785$1,393,275
78$1,637,231$1,035,669$897,532$1,461,531
79$1,759,086$1,041,274$882,457$1,535,344
80$1,891,948$1,045,732$865,455$1,615,274
81$2,036,895$1,048,941$846,416$1,701,938
82$2,195,114$1,050,795$825,226$1,796,017
83$2,367,910$1,051,178$801,766$1,898,265
84$2,556,722$1,049,971$775,910$2,009,513
85$2,763,132$1,047,044$747,527$2,130,678
86$2,988,883$1,042,261$716,481$2,262,772
87$3,235,894$1,035,476$682,628$2,406,914
88$3,506,278$1,026,537$645,819$2,564,339
89$3,802,360$1,015,280$605,896$2,736,409
90$4,126,705$1,001,532$562,697$2,924,627
91$4,482,132$985,111$516,051$3,130,653
92$4,871,750$965,821$465,779$3,356,320
93$5,298,980$943,458$411,694$3,603,649
94$5,767,593$917,805$353,603$3,874,871
95$6,281,740$888,630$291,301$4,172,447
96$6,845,994$855,690$224,577$4,499,096
97$7,465,393$818,726$153,208$4,857,814
98$8,145,486$777,466$76,963$5,251,909
99$8,892,385$731,621$0$5,685,030
100$9,712,823$680,886$0$6,162,095