Can I retire at age 71 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$77,955$77,260$76,583$75,922$75,276$73,726
2 years$38,591$37,873$37,176$36,501$35,846$34,291
3 years$25,472$24,750$24,055$23,386$22,742$21,231
4 years$18,914$18,194$17,506$16,849$16,220$14,765
5 years$14,980$14,264$13,586$12,941$12,330$10,935
6 years$12,358$11,648$10,979$10,349$9,756$8,422
7 years$10,486$9,782$9,124$8,509$7,934$6,662
8 years$9,082$8,385$7,738$7,138$6,582$5,371
9 years$7,992$7,301$6,664$6,080$5,543$4,392
10 years$7,119$6,435$5,810$5,241$4,723$3,631
11 years$6,406$5,729$5,115$4,561$4,062$3,028
12 years$5,812$5,142$4,540$4,001$3,520$2,542
13 years$5,310$4,647$4,056$3,532$3,070$2,146
14 years$4,880$4,224$3,644$3,135$2,691$1,820
15 years$4,508$3,858$3,290$2,796$2,369$1,550
16 years$4,182$3,540$2,983$2,504$2,094$1,323
17 years$3,895$3,260$2,714$2,250$1,857$1,133
18 years$3,641$3,013$2,478$2,027$1,651$972
19 years$3,413$2,792$2,268$1,832$1,471$836
20 years$3,208$2,595$2,082$1,659$1,314$720
21 years$3,023$2,417$1,915$1,506$1,176$621
22 years$2,856$2,256$1,765$1,369$1,054$536
23 years$2,703$2,110$1,630$1,247$946$463
24 years$2,562$1,977$1,507$1,137$851$400
25 years$2,434$1,855$1,396$1,039$765$346
26 years$2,315$1,744$1,295$950$689$300
27 years$2,206$1,641$1,202$869$622$260
28 years$2,104$1,546$1,118$796$561$225
29 years$2,010$1,459$1,040$730$506$195
30 years$1,922$1,378$969$670$458$170
31 years$1,839$1,302$903$616$414$147
32 years$1,763$1,232$843$566$374$128
33 years$1,691$1,167$787$520$339$111
34 years$1,623$1,106$735$479$307$96
35 years$1,559$1,049$687$441$278$84
36 years$1,499$996$643$406$252$73
37 years$1,443$946$602$374$228$63
38 years$1,389$899$564$345$207$55
39 years$1,339$855$528$318$188$48
40 years$1,291$813$495$293$170$41
41 years$1,245$774$464$270$154$36
42 years$1,202$737$435$250$140$31
43 years$1,161$702$408$230$127$27
44 years$1,122$669$383$213$115$24
45 years$1,084$638$360$196$105$21
46 years$1,049$609$338$181$95$18
47 years$1,015$581$318$168$86$16
48 years$982$555$298$155$78$14
49 years$951$530$281$143$71$12
50 years$922$506$264$132$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $944,000, adding $6,669 every year, while hoping to spend $49,041 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: 65/11/24 Blend
70$944,000$944,000$944,000$944,000
71$1,047,167$997,135$982,503$1,108,297
72$1,101,799$993,815$963,238$1,146,977
73$1,160,359$988,690$941,683$1,183,117
74$1,223,198$981,617$917,711$1,221,501
75$1,290,697$972,449$891,188$1,262,353
76$1,363,277$961,028$861,971$1,305,921
77$1,441,399$947,187$829,915$1,352,481
78$1,525,571$930,748$794,867$1,402,335
79$1,616,348$911,523$756,664$1,455,823
80$1,714,343$889,315$715,139$1,513,316
81$1,820,226$863,912$670,116$1,575,230
82$1,934,736$835,091$621,413$1,642,021
83$2,058,686$802,616$568,836$1,714,196
84$2,192,966$766,239$512,186$1,792,317
85$2,338,558$725,694$451,254$1,877,002
86$2,496,541$680,703$385,821$1,968,940
87$2,668,100$630,970$315,658$2,068,888
88$2,854,542$576,182$240,528$2,177,688
89$3,057,300$516,011$160,181$2,296,267
90$3,277,956$450,106$74,358$2,425,652
91$3,518,245$378,099$0$2,566,978
92$3,780,082$299,602$0$2,725,913
93$4,065,569$214,201$0$2,920,039
94$4,377,024$121,463$0$3,131,902
95$4,716,995$20,930$0$3,363,276
96$5,088,288$0$0$3,616,113
97$5,493,994$0$0$3,903,205
98$5,937,513$0$0$4,219,885
99$6,422,589$0$0$4,566,301
100$6,953,346$0$0$4,945,404