Can I retire at age 71 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$77,459$76,769$76,096$75,439$74,797$73,771
2 years$38,346$37,632$36,940$36,269$35,618$34,586
3 years$25,310$24,593$23,903$23,238$22,597$21,591
4 years$18,793$18,078$17,395$16,741$16,117$15,145
5 years$14,884$14,174$13,499$12,859$12,252$11,316
6 years$12,279$11,574$10,909$10,283$9,694$8,797
7 years$10,419$9,720$9,066$8,455$7,884$7,025
8 years$9,025$8,332$7,688$7,092$6,541$5,720
9 years$7,941$7,254$6,622$6,041$5,508$4,725
10 years$7,074$6,394$5,773$5,208$4,693$3,947
11 years$6,365$5,692$5,083$4,532$4,036$3,327
12 years$5,775$5,109$4,511$3,975$3,498$2,824
13 years$5,276$4,617$4,030$3,510$3,050$2,411
14 years$4,849$4,197$3,621$3,115$2,674$2,068
15 years$4,479$3,834$3,269$2,778$2,354$1,781
16 years$4,156$3,518$2,964$2,488$2,081$1,539
17 years$3,871$3,240$2,697$2,235$1,845$1,334
18 years$3,618$2,993$2,462$2,014$1,640$1,159
19 years$3,391$2,774$2,254$1,820$1,462$1,009
20 years$3,188$2,578$2,069$1,649$1,306$880
21 years$3,004$2,401$1,903$1,496$1,169$769
22 years$2,837$2,242$1,754$1,360$1,048$672
23 years$2,685$2,096$1,619$1,239$940$589
24 years$2,546$1,964$1,497$1,130$845$516
25 years$2,418$1,843$1,387$1,032$761$452
26 years$2,300$1,732$1,286$944$685$397
27 years$2,192$1,630$1,194$864$618$349
28 years$2,091$1,536$1,110$791$557$307
29 years$1,997$1,449$1,033$726$503$270
30 years$1,909$1,369$963$666$455$237
31 years$1,828$1,294$897$612$411$209
32 years$1,751$1,224$837$562$372$184
33 years$1,680$1,159$782$517$337$162
34 years$1,613$1,099$730$476$305$143
35 years$1,549$1,042$683$438$276$126
36 years$1,490$989$639$403$250$111
37 years$1,434$940$598$371$227$98
38 years$1,380$893$560$342$205$86
39 years$1,330$849$525$316$186$76
40 years$1,282$808$492$291$169$67
41 years$1,237$769$461$269$153$59
42 years$1,194$732$432$248$139$52
43 years$1,153$698$406$229$126$46
44 years$1,114$665$381$211$115$40
45 years$1,077$634$358$195$104$36
46 years$1,042$605$336$180$94$32
47 years$1,008$577$316$167$86$28
48 years$976$551$297$154$78$25
49 years$945$526$279$142$71$22
50 years$916$503$262$131$64$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $938,000, adding $4,667 every year, while hoping to spend $56,515 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: 49/26/25 Blend
70$938,000$938,000$938,000$938,000
71$1,038,490$988,776$974,237$1,081,819
72$1,084,284$977,095$946,742$1,100,874
73$1,132,856$962,946$916,433$1,115,547
74$1,184,428$946,151$883,154$1,130,354
75$1,239,244$926,518$846,744$1,145,335
76$1,297,574$903,844$807,037$1,160,536
77$1,359,708$877,914$763,854$1,176,011
78$1,425,969$848,502$717,014$1,191,823
79$1,496,706$815,367$666,322$1,208,047
80$1,572,305$778,255$611,579$1,224,770
81$1,653,188$736,898$552,575$1,242,093
82$1,739,817$691,009$489,090$1,260,130
83$1,832,699$640,289$420,895$1,279,015
84$1,932,391$584,420$347,752$1,298,900
85$2,039,503$523,065$269,410$1,319,958
86$2,154,706$455,869$185,608$1,342,388
87$2,278,735$382,456$96,076$1,366,414
88$2,412,400$302,430$528$1,392,291
89$2,556,587$215,371$0$1,420,308
90$2,712,272$120,837$0$1,477,849
91$2,880,527$18,361$0$1,540,134
92$3,062,529$0$0$1,607,522
93$3,259,573$0$0$1,707,049
94$3,473,083$0$0$1,820,668
95$3,704,623$0$0$1,943,972
96$3,955,915$0$0$2,077,886
97$4,228,852$0$0$2,223,432
98$4,525,515$0$0$2,381,732
99$4,848,195$0$0$2,554,021
100$5,199,413$0$0$2,741,659