Can I retire at age 71 with 928,000?

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 $928,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$76,633$75,951$75,285$74,635$74,000$72,358
2 years$37,937$37,231$36,546$35,882$35,238$33,592
3 years$25,040$24,331$23,648$22,990$22,357$20,758
4 years$18,593$17,886$17,209$16,563$15,945$14,407
5 years$14,726$14,023$13,355$12,722$12,121$10,647
6 years$12,148$11,450$10,793$10,174$9,591$8,183
7 years$10,308$9,616$8,969$8,364$7,800$6,458
8 years$8,929$8,243$7,606$7,017$6,471$5,194
9 years$7,856$7,177$6,551$5,977$5,449$4,238
10 years$6,999$6,326$5,712$5,152$4,643$3,495
11 years$6,298$5,632$5,028$4,484$3,993$2,907
12 years$5,714$5,055$4,463$3,933$3,460$2,434
13 years$5,220$4,568$3,987$3,472$3,018$2,050
14 years$4,797$4,152$3,582$3,082$2,645$1,733
15 years$4,431$3,793$3,234$2,749$2,329$1,472
16 years$4,111$3,480$2,933$2,461$2,058$1,253
17 years$3,829$3,205$2,668$2,211$1,825$1,070
18 years$3,579$2,962$2,436$1,993$1,623$915
19 years$3,355$2,745$2,230$1,801$1,446$785
20 years$3,154$2,551$2,047$1,631$1,292$674
21 years$2,972$2,376$1,882$1,480$1,156$579
22 years$2,807$2,218$1,735$1,346$1,036$498
23 years$2,657$2,074$1,602$1,226$930$429
24 years$2,519$1,943$1,482$1,118$836$370
25 years$2,393$1,824$1,372$1,021$752$319
26 years$2,276$1,714$1,273$933$678$276
27 years$2,168$1,613$1,182$854$611$238
28 years$2,068$1,520$1,099$783$551$206
29 years$1,975$1,434$1,022$718$498$178
30 years$1,889$1,354$952$659$450$154
31 years$1,808$1,280$888$605$407$133
32 years$1,733$1,211$828$556$368$115
33 years$1,662$1,147$773$511$333$100
34 years$1,595$1,087$723$471$301$86
35 years$1,533$1,031$676$433$273$75
36 years$1,474$979$632$399$247$65
37 years$1,418$930$592$368$224$56
38 years$1,366$883$554$339$203$48
39 years$1,316$840$519$312$184$42
40 years$1,269$799$486$288$167$36
41 years$1,224$761$456$266$152$31
42 years$1,181$725$428$245$138$27
43 years$1,141$690$402$226$125$24
44 years$1,103$658$377$209$113$20
45 years$1,066$628$354$193$103$18
46 years$1,031$599$332$178$93$15
47 years$998$571$312$165$85$13
48 years$966$545$293$152$77$12
49 years$935$521$276$141$70$10
50 years$906$497$259$130$64$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $928,000, adding $3,408 every year, while hoping to spend $59,199 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: 65/9/26 Blend
70$928,000$928,000$928,000$928,000
71$1,026,171$976,987$962,603$1,085,666
72$1,067,854$961,872$931,863$1,111,117
73$1,111,803$944,033$898,109$1,132,002
74$1,158,189$923,272$861,178$1,153,507
75$1,207,195$899,384$820,898$1,175,699
76$1,259,023$872,147$777,092$1,198,653
77$1,313,890$841,329$729,572$1,222,454
78$1,372,037$806,685$678,143$1,247,199
79$1,433,726$767,953$622,601$1,272,995
80$1,499,241$724,858$562,733$1,299,963
81$1,568,896$677,108$498,317$1,328,242
82$1,643,033$624,396$429,120$1,357,984
83$1,722,026$566,395$354,900$1,389,362
84$1,806,286$502,762$275,402$1,422,570
85$1,896,262$433,132$190,363$1,457,823
86$1,992,446$357,120$99,505$1,495,365
87$2,095,377$274,321$2,541$1,535,466
88$2,205,648$184,306$0$1,578,428
89$2,323,909$86,621$0$1,652,593
90$2,450,870$0$0$1,732,908
91$2,587,313$0$0$1,821,080
92$2,734,098$0$0$1,925,207
93$2,892,164$0$0$2,037,383
94$3,062,549$0$0$2,158,350
95$3,246,386$0$0$2,288,919
96$3,444,927$0$0$2,429,985
97$3,659,542$0$0$2,582,529
98$3,891,739$0$0$2,747,629
99$4,143,176$0$0$2,926,473
100$4,415,677$0$0$3,120,365