Can I retire at age 71 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$78,120$77,424$76,745$76,082$75,435$74,803
2 years$38,673$37,953$37,255$36,578$35,922$35,285
3 years$25,526$24,803$24,106$23,436$22,790$22,168
4 years$18,954$18,233$17,543$16,884$16,254$15,651
5 years$15,011$14,295$13,614$12,969$12,356$11,775
6 years$12,384$11,673$11,002$10,371$9,777$9,218
7 years$10,508$9,803$9,143$8,527$7,951$7,414
8 years$9,102$8,403$7,754$7,153$6,596$6,082
9 years$8,008$7,316$6,679$6,093$5,555$5,063
10 years$7,134$6,449$5,822$5,252$4,733$4,263
11 years$6,420$5,741$5,126$4,571$4,071$3,622
12 years$5,825$5,153$4,549$4,009$3,528$3,100
13 years$5,321$4,657$4,064$3,539$3,076$2,669
14 years$4,890$4,233$3,652$3,142$2,697$2,309
15 years$4,517$3,867$3,297$2,802$2,374$2,007
16 years$4,191$3,548$2,989$2,509$2,098$1,750
17 years$3,904$3,267$2,720$2,254$1,861$1,530
18 years$3,648$3,019$2,483$2,032$1,654$1,342
19 years$3,420$2,798$2,273$1,836$1,475$1,179
20 years$3,215$2,600$2,086$1,663$1,317$1,038
21 years$3,030$2,422$1,919$1,509$1,179$916
22 years$2,862$2,261$1,769$1,372$1,056$809
23 years$2,708$2,114$1,633$1,249$948$715
24 years$2,568$1,981$1,510$1,140$852$633
25 years$2,439$1,859$1,399$1,041$767$561
26 years$2,320$1,747$1,297$952$691$498
27 years$2,210$1,644$1,205$871$623$442
28 years$2,108$1,549$1,120$798$562$392
29 years$2,014$1,462$1,042$732$508$349
30 years$1,926$1,380$971$672$459$310
31 years$1,843$1,305$905$617$415$276
32 years$1,766$1,235$844$567$375$245
33 years$1,694$1,169$788$521$339$218
34 years$1,626$1,108$737$480$307$195
35 years$1,563$1,051$689$442$278$173
36 years$1,502$998$644$407$252$154
37 years$1,446$948$603$375$229$138
38 years$1,392$901$565$345$207$123
39 years$1,341$856$529$318$188$109
40 years$1,293$815$496$294$170$98
41 years$1,248$776$465$271$155$87
42 years$1,204$739$436$250$140$78
43 years$1,163$704$409$231$127$69
44 years$1,124$671$384$213$116$62
45 years$1,087$640$361$197$105$55
46 years$1,051$610$339$182$95$49
47 years$1,017$582$318$168$87$44
48 years$984$556$299$155$79$39
49 years$953$531$281$143$71$35
50 years$924$507$264$133$65$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $946,000, adding $2,384 every year, while hoping to spend $20,510 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: 35/40/25 Blend
70$946,000$946,000$946,000$946,000
71$1,044,951$994,813$980,150$1,073,551
72$1,129,714$1,021,736$991,163$1,121,932
73$1,222,435$1,049,292$1,001,857$1,172,064
74$1,323,904$1,077,488$1,012,200$1,225,749
75$1,434,992$1,106,335$1,022,158$1,283,319
76$1,556,656$1,135,840$1,031,696$1,345,138
77$1,689,952$1,166,013$1,040,775$1,411,606
78$1,836,041$1,196,862$1,049,355$1,483,165
79$1,996,204$1,228,395$1,057,395$1,560,301
80$2,171,849$1,260,618$1,064,850$1,643,549
81$2,364,529$1,293,540$1,071,673$1,733,499
82$2,575,953$1,327,166$1,077,817$1,830,800
83$2,808,006$1,361,502$1,083,229$1,936,168
84$3,062,761$1,396,554$1,087,855$2,050,391
85$3,342,503$1,432,326$1,091,639$2,174,339
86$3,649,750$1,468,822$1,094,521$2,308,969
87$3,987,276$1,506,045$1,096,439$2,455,334
88$4,358,135$1,543,998$1,097,326$2,614,598
89$4,765,692$1,582,681$1,097,114$2,788,041
90$5,213,655$1,622,095$1,095,730$2,977,075
91$5,706,109$1,662,239$1,093,098$3,183,256
92$6,247,554$1,703,111$1,089,139$3,408,297
93$6,842,949$1,744,708$1,083,769$3,654,089
94$7,497,755$1,787,024$1,076,901$3,922,713
95$8,217,991$1,830,054$1,068,442$4,216,464
96$9,010,289$1,873,789$1,058,298$4,537,873
97$9,881,954$1,918,220$1,046,366$4,889,727
98$10,841,037$1,963,336$1,032,543$5,275,099
99$11,896,406$2,009,123$1,016,716$5,697,376
100$13,057,835$2,055,565$998,772$6,160,291