Can I retire at age 71 with 934,000?

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 $934,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$77,129$76,442$75,772$75,117$74,478$73,609
2 years$38,183$37,471$36,782$36,114$35,466$34,591
3 years$25,202$24,488$23,801$23,139$22,501$21,647
4 years$18,713$18,001$17,321$16,670$16,048$15,222
5 years$14,821$14,113$13,442$12,804$12,199$11,404
6 years$12,227$11,525$10,863$10,240$9,653$8,889
7 years$10,375$9,678$9,027$8,419$7,850$7,118
8 years$8,986$8,296$7,656$7,062$6,513$5,812
9 years$7,907$7,223$6,594$6,015$5,485$4,816
10 years$7,044$6,367$5,749$5,185$4,673$4,035
11 years$6,338$5,668$5,061$4,513$4,019$3,411
12 years$5,751$5,087$4,492$3,958$3,483$2,905
13 years$5,254$4,597$4,013$3,495$3,037$2,488
14 years$4,828$4,179$3,606$3,102$2,662$2,142
15 years$4,460$3,818$3,255$2,767$2,344$1,851
16 years$4,138$3,503$2,951$2,477$2,072$1,605
17 years$3,854$3,226$2,686$2,226$1,837$1,396
18 years$3,602$2,981$2,452$2,006$1,633$1,217
19 years$3,377$2,763$2,244$1,812$1,456$1,063
20 years$3,174$2,567$2,060$1,641$1,300$931
21 years$2,991$2,391$1,895$1,490$1,164$816
22 years$2,825$2,232$1,746$1,355$1,043$716
23 years$2,674$2,088$1,612$1,234$936$630
24 years$2,535$1,956$1,491$1,125$842$554
25 years$2,408$1,836$1,381$1,028$757$488
26 years$2,291$1,725$1,281$940$682$430
27 years$2,182$1,624$1,189$860$615$379
28 years$2,082$1,530$1,106$788$555$335
29 years$1,988$1,443$1,029$723$501$296
30 years$1,901$1,363$958$663$453$261
31 years$1,820$1,288$894$609$409$231
32 years$1,744$1,219$834$560$370$204
33 years$1,673$1,155$778$515$335$180
34 years$1,606$1,094$727$474$303$160
35 years$1,543$1,038$680$436$275$141
36 years$1,483$985$636$401$249$125
37 years$1,427$936$595$370$226$111
38 years$1,374$889$558$341$205$98
39 years$1,324$846$522$314$186$87
40 years$1,277$804$490$290$168$77
41 years$1,232$766$459$268$153$68
42 years$1,189$729$431$247$139$60
43 years$1,148$695$404$228$126$53
44 years$1,110$662$379$210$114$47
45 years$1,073$632$356$194$104$42
46 years$1,038$603$335$180$94$37
47 years$1,004$575$314$166$85$33
48 years$972$549$295$153$78$29
49 years$941$524$278$142$70$26
50 years$912$501$261$131$64$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $934,000, adding $3,508 every year, while hoping to spend $51,839 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: 54/27/19 Blend
70$934,000$934,000$934,000$934,000
71$1,032,887$983,385$968,908$1,083,163
72$1,083,085$976,414$946,210$1,110,993
73$1,136,666$967,365$921,014$1,135,497
74$1,193,920$956,080$893,182$1,161,040
75$1,255,165$942,393$862,569$1,187,736
76$1,320,750$926,129$829,024$1,215,714
77$1,391,059$907,101$792,388$1,245,116
78$1,466,510$885,112$752,496$1,276,106
79$1,547,564$859,953$709,175$1,308,863
80$1,634,727$831,402$662,244$1,343,591
81$1,728,554$799,225$611,513$1,380,517
82$1,829,654$763,175$556,787$1,419,895
83$1,938,698$722,990$497,858$1,462,008
84$2,056,420$678,391$434,511$1,507,174
85$2,183,629$629,086$366,522$1,555,746
86$2,321,213$574,766$293,654$1,608,120
87$2,470,148$515,101$215,664$1,664,735
88$2,631,509$449,746$132,294$1,726,083
89$2,806,474$378,335$43,277$1,792,709
90$2,996,343$300,482$0$1,865,222
91$3,202,541$215,777$0$1,954,783
92$3,426,640$123,790$0$2,061,705
93$3,670,366$24,064$0$2,178,104
94$3,935,620$0$0$2,304,972
95$4,224,492$0$0$2,468,333
96$4,539,284$0$0$2,654,223
97$4,882,527$0$0$2,857,000
98$5,257,009$0$0$3,078,318
99$5,665,796$0$0$3,320,004
100$6,112,265$0$0$3,584,063