Can I retire at age 71 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$78,946$78,242$77,556$76,887$76,233$75,063
2 years$39,082$38,354$37,649$36,965$36,301$35,125
3 years$25,796$25,065$24,361$23,684$23,031$21,886
4 years$19,154$18,425$17,729$17,063$16,426$15,320
5 years$15,170$14,446$13,758$13,106$12,487$11,423
6 years$12,515$11,796$11,119$10,481$9,880$8,861
7 years$10,619$9,906$9,240$8,617$8,035$7,060
8 years$9,198$8,491$7,836$7,228$6,666$5,735
9 years$8,093$7,393$6,749$6,157$5,614$4,726
10 years$7,210$6,517$5,884$5,307$4,783$3,939
11 years$6,488$5,802$5,180$4,619$4,114$3,311
12 years$5,886$5,207$4,597$4,052$3,565$2,804
13 years$5,378$4,706$4,107$3,577$3,109$2,387
14 years$4,942$4,277$3,691$3,175$2,725$2,043
15 years$4,565$3,908$3,332$2,832$2,399$1,754
16 years$4,235$3,585$3,021$2,535$2,121$1,512
17 years$3,945$3,302$2,749$2,278$1,880$1,307
18 years$3,687$3,051$2,509$2,053$1,672$1,132
19 years$3,456$2,828$2,297$1,855$1,490$982
20 years$3,249$2,628$2,108$1,680$1,331$854
21 years$3,062$2,447$1,939$1,525$1,191$744
22 years$2,892$2,285$1,787$1,386$1,068$649
23 years$2,737$2,137$1,650$1,263$958$566
24 years$2,595$2,002$1,526$1,152$861$495
25 years$2,465$1,879$1,414$1,052$775$433
26 years$2,345$1,766$1,311$962$698$379
27 years$2,234$1,662$1,217$880$630$331
28 years$2,131$1,566$1,132$806$568$290
29 years$2,035$1,477$1,053$740$513$255
30 years$1,946$1,395$981$679$463$223
31 years$1,863$1,319$915$623$419$196
32 years$1,785$1,248$853$573$379$172
33 years$1,712$1,182$797$527$343$151
34 years$1,644$1,120$744$485$311$132
35 years$1,579$1,062$696$446$281$116
36 years$1,518$1,008$651$411$255$102
37 years$1,461$958$609$379$231$90
38 years$1,407$910$571$349$209$79
39 years$1,356$865$535$322$190$69
40 years$1,307$823$501$297$172$61
41 years$1,261$784$470$274$156$53
42 years$1,217$746$441$253$142$47
43 years$1,175$711$414$233$129$41
44 years$1,136$678$388$215$117$36
45 years$1,098$646$365$199$106$32
46 years$1,062$617$342$184$96$28
47 years$1,028$589$322$170$87$25
48 years$995$562$302$157$79$22
49 years$963$537$284$145$72$19
50 years$933$513$267$134$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $956,000, adding $2,809 every year, while hoping to spend $59,913 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: 47/38/15 Blend
70$956,000$956,000$956,000$956,000
71$1,056,409$1,005,741$990,923$1,101,476
72$1,100,416$991,276$960,372$1,118,537
73$1,146,904$974,093$926,790$1,130,703
74$1,196,062$953,998$890,011$1,142,600
75$1,248,097$930,781$849,864$1,154,226
76$1,303,236$904,222$806,167$1,165,582
77$1,361,727$874,089$758,734$1,176,674
78$1,423,838$840,135$707,367$1,187,513
79$1,489,866$802,098$651,860$1,198,118
80$1,560,134$759,703$591,999$1,208,512
81$1,634,996$712,656$527,559$1,218,726
82$1,714,839$660,650$458,306$1,228,803
83$1,800,088$603,357$383,995$1,238,795
84$1,891,208$540,433$304,370$1,248,765
85$1,988,709$471,511$219,164$1,258,791
86$2,093,149$396,208$128,098$1,268,965
87$2,205,143$314,114$30,882$1,279,398
88$2,325,363$224,801$0$1,290,220
89$2,454,546$127,813$0$1,313,245
90$2,593,505$22,671$0$1,343,021
91$2,743,128$0$0$1,374,860
92$2,904,392$0$0$1,447,160
93$3,078,372$0$0$1,535,472
94$3,266,247$0$0$1,630,923
95$3,469,311$0$0$1,734,183
96$3,688,991$0$0$1,845,988
97$3,926,851$0$0$1,967,148
98$4,184,612$0$0$2,098,551
99$4,464,168$0$0$2,241,176
100$4,767,599$0$0$2,396,098