Can I retire at age 71 with 922,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.9%
1 years$76,138$75,460$74,798$74,152$73,522$72,333
2 years$37,692$36,990$36,310$35,650$35,010$33,816
3 years$24,878$24,173$23,495$22,841$22,212$21,050
4 years$18,473$17,770$17,098$16,456$15,842$14,720
5 years$14,631$13,932$13,269$12,640$12,043$10,965
6 years$12,070$11,376$10,723$10,108$9,529$8,496
7 years$10,241$9,554$8,911$8,310$7,750$6,762
8 years$8,871$8,189$7,557$6,971$6,429$5,486
9 years$7,805$7,130$6,509$5,938$5,414$4,516
10 years$6,953$6,285$5,675$5,119$4,613$3,759
11 years$6,257$5,595$4,996$4,455$3,967$3,156
12 years$5,677$5,022$4,434$3,907$3,438$2,669
13 years$5,186$4,538$3,961$3,450$2,998$2,270
14 years$4,766$4,125$3,559$3,062$2,628$1,939
15 years$4,403$3,769$3,214$2,731$2,314$1,663
16 years$4,085$3,458$2,914$2,445$2,045$1,431
17 years$3,805$3,184$2,651$2,197$1,813$1,235
18 years$3,556$2,942$2,420$1,980$1,612$1,069
19 years$3,333$2,727$2,216$1,789$1,437$926
20 years$3,134$2,534$2,033$1,620$1,284$804
21 years$2,953$2,360$1,870$1,471$1,149$699
22 years$2,789$2,203$1,724$1,337$1,030$609
23 years$2,640$2,061$1,592$1,218$924$530
24 years$2,503$1,931$1,472$1,111$831$463
25 years$2,377$1,812$1,363$1,014$748$404
26 years$2,261$1,703$1,264$927$673$353
27 years$2,154$1,603$1,174$849$607$309
28 years$2,055$1,510$1,091$778$548$270
29 years$1,963$1,425$1,016$713$495$236
30 years$1,877$1,345$946$655$447$207
31 years$1,797$1,272$882$601$404$181
32 years$1,722$1,203$823$552$366$159
33 years$1,651$1,140$768$508$331$139
34 years$1,585$1,080$718$467$300$122
35 years$1,523$1,025$671$430$271$107
36 years$1,464$972$628$396$246$94
37 years$1,409$924$588$365$223$82
38 years$1,357$878$550$337$202$72
39 years$1,307$835$516$310$183$63
40 years$1,261$794$483$286$166$55
41 years$1,216$756$453$264$151$49
42 years$1,174$720$425$244$137$43
43 years$1,134$686$399$225$124$37
44 years$1,095$654$374$208$113$33
45 years$1,059$623$352$192$102$29
46 years$1,024$595$330$177$93$25
47 years$991$568$310$164$84$22
48 years$959$542$292$151$77$20
49 years$929$517$274$140$70$17
50 years$900$494$258$129$63$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $922,000, adding $2,306 every year, while hoping to spend $57,938 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: 55/19/26 Blend
70$922,000$922,000$922,000$922,000
71$1,018,423$969,557$955,266$1,067,021
72$1,060,656$955,419$925,621$1,086,581
73$1,105,256$938,647$893,042$1,101,660
74$1,152,401$919,051$857,369$1,116,892
75$1,202,290$896,428$818,434$1,132,311
76$1,255,136$870,565$776,064$1,147,959
77$1,311,173$841,237$730,076$1,163,883
78$1,370,660$808,204$680,280$1,180,142
79$1,433,874$771,213$626,477$1,196,799
80$1,501,124$729,997$568,459$1,213,934
81$1,572,745$684,273$506,008$1,231,633
82$1,649,104$633,742$438,899$1,250,000
83$1,730,604$578,086$366,893$1,269,152
84$1,817,685$516,972$289,743$1,289,223
85$1,910,831$450,046$207,192$1,310,366
86$2,010,573$376,935$118,970$1,332,757
87$2,117,490$297,243$24,794$1,356,592
88$2,232,220$210,555$0$1,382,097
89$2,355,464$116,429$0$1,430,529
90$2,487,988$14,401$0$1,489,876
91$2,630,637$0$0$1,553,667
92$2,784,335$0$0$1,642,434
93$2,950,099$0$0$1,741,481
94$3,129,047$0$0$1,848,474
95$3,322,406$0$0$1,964,156
96$3,531,524$0$0$2,089,342
97$3,757,885$0$0$2,224,929
98$4,003,119$0$0$2,371,904
99$4,269,017$0$0$2,531,352
100$4,557,550$0$0$2,704,465