Can I retire at age 71 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$78,533$77,833$77,151$76,485$75,834$75,356
2 years$38,878$38,154$37,452$36,771$36,111$35,629
3 years$25,661$24,934$24,234$23,560$22,911$22,439
4 years$19,054$18,329$17,636$16,974$16,340$15,883
5 years$15,091$14,370$13,686$13,037$12,421$11,980
6 years$12,449$11,734$11,061$10,426$9,829$9,404
7 years$10,564$9,854$9,191$8,572$7,993$7,585
8 years$9,150$8,447$7,795$7,191$6,631$6,239
9 years$8,051$7,355$6,714$6,125$5,584$5,209
10 years$7,172$6,483$5,853$5,280$4,758$4,399
11 years$6,454$5,771$5,153$4,595$4,092$3,749
12 years$5,855$5,180$4,573$4,030$3,546$3,219
13 years$5,350$4,681$4,086$3,558$3,092$2,780
14 years$4,916$4,255$3,671$3,159$2,711$2,414
15 years$4,541$3,887$3,315$2,817$2,387$2,104
16 years$4,213$3,566$3,005$2,522$2,109$1,841
17 years$3,924$3,284$2,735$2,266$1,870$1,616
18 years$3,668$3,035$2,496$2,042$1,663$1,422
19 years$3,438$2,813$2,285$1,845$1,482$1,254
20 years$3,232$2,614$2,097$1,671$1,324$1,108
21 years$3,046$2,435$1,929$1,517$1,185$981
22 years$2,877$2,273$1,778$1,379$1,062$870
23 years$2,723$2,126$1,642$1,256$953$772
24 years$2,581$1,992$1,518$1,146$857$686
25 years$2,452$1,869$1,406$1,046$771$610
26 years$2,332$1,756$1,304$957$695$543
27 years$2,222$1,653$1,211$876$626$484
28 years$2,120$1,558$1,126$802$565$432
29 years$2,024$1,469$1,048$736$510$385
30 years$1,936$1,388$976$675$461$344
31 years$1,853$1,312$910$620$417$307
32 years$1,776$1,241$849$570$377$275
33 years$1,703$1,176$793$524$341$245
34 years$1,635$1,114$741$482$309$219
35 years$1,571$1,057$692$444$280$196
36 years$1,510$1,003$648$409$254$176
37 years$1,453$953$606$377$230$157
38 years$1,399$905$568$347$208$141
39 years$1,348$861$532$320$189$126
40 years$1,300$819$499$295$171$113
41 years$1,254$780$467$272$155$101
42 years$1,211$743$438$251$141$91
43 years$1,169$707$411$232$128$81
44 years$1,130$674$386$214$116$73
45 years$1,092$643$363$198$105$65
46 years$1,057$613$341$183$96$58
47 years$1,022$585$320$169$87$52
48 years$990$559$301$156$79$47
49 years$958$534$283$144$72$42
50 years$929$510$266$133$65$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $951,000, adding $6,254 every year, while hoping to spend $58,687 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: 60/21/19 Blend
70$951,000$951,000$951,000$951,000
71$1,054,453$1,004,050$989,310$1,112,150
72$1,099,565$990,806$960,009$1,138,670
73$1,147,311$974,946$927,760$1,160,567
74$1,197,898$956,280$892,401$1,183,118
75$1,251,553$934,607$853,766$1,206,396
76$1,308,521$909,712$811,677$1,230,483
77$1,369,074$881,372$765,951$1,255,472
78$1,433,506$849,345$716,397$1,281,467
79$1,502,141$813,381$662,814$1,308,589
80$1,575,332$773,210$604,992$1,336,970
81$1,653,469$728,550$542,711$1,366,762
82$1,736,975$679,101$475,745$1,398,136
83$1,826,317$624,547$403,852$1,431,282
84$1,922,004$564,553$326,785$1,466,417
85$2,024,599$498,766$244,282$1,503,782
86$2,134,714$426,812$156,071$1,543,647
87$2,253,024$348,295$61,869$1,586,316
88$2,380,270$262,799$0$1,632,128
89$2,517,265$169,883$0$1,689,302
90$2,664,900$69,082$0$1,764,318
91$2,824,157$0$0$1,845,160
92$2,996,112$0$0$1,941,692
93$3,181,950$0$0$2,063,328
94$3,382,970$0$0$2,194,965
95$3,600,602$0$0$2,337,545
96$3,836,419$0$0$2,492,107
97$4,092,149$0$0$2,659,793
98$4,369,693$0$0$2,841,858
99$4,671,140$0$0$3,039,682
100$4,998,791$0$0$3,254,785