Can I retire at age 71 with 957,000?

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 $957,000?

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%
1 years$79,028$78,324$77,637$76,967$76,313$74,711
2 years$39,123$38,394$37,688$37,003$36,339$34,733
3 years$25,823$25,091$24,387$23,708$23,055$21,495
4 years$19,174$18,445$17,747$17,081$16,443$14,940
5 years$15,186$14,461$13,773$13,120$12,500$11,059
6 years$12,528$11,808$11,130$10,492$9,891$8,513
7 years$10,630$9,917$9,249$8,626$8,044$6,730
8 years$9,208$8,500$7,844$7,236$6,673$5,423
9 years$8,102$7,401$6,756$6,164$5,620$4,432
10 years$7,217$6,524$5,890$5,313$4,788$3,662
11 years$6,494$5,808$5,186$4,624$4,118$3,051
12 years$5,892$5,213$4,602$4,056$3,569$2,560
13 years$5,383$4,711$4,112$3,581$3,112$2,160
14 years$4,947$4,282$3,694$3,178$2,728$1,831
15 years$4,570$3,912$3,336$2,835$2,402$1,557
16 years$4,240$3,589$3,024$2,538$2,123$1,329
17 years$3,949$3,305$2,752$2,280$1,882$1,137
18 years$3,691$3,054$2,512$2,055$1,674$975
19 years$3,460$2,831$2,300$1,857$1,492$838
20 years$3,253$2,630$2,111$1,682$1,332$721
21 years$3,065$2,450$1,941$1,526$1,192$621
22 years$2,895$2,287$1,789$1,388$1,069$536
23 years$2,740$2,139$1,652$1,264$959$462
24 years$2,598$2,004$1,528$1,153$862$400
25 years$2,467$1,881$1,415$1,053$776$346
26 years$2,347$1,768$1,312$963$699$299
27 years$2,236$1,663$1,219$881$630$259
28 years$2,133$1,568$1,133$807$569$224
29 years$2,037$1,479$1,054$740$513$194
30 years$1,948$1,397$982$679$464$168
31 years$1,865$1,320$916$624$419$146
32 years$1,787$1,249$854$573$379$127
33 years$1,714$1,183$798$527$343$110
34 years$1,645$1,121$745$485$311$95
35 years$1,581$1,063$697$447$282$83
36 years$1,520$1,009$652$411$255$72
37 years$1,463$959$610$379$231$62
38 years$1,408$911$571$349$210$54
39 years$1,357$866$535$322$190$47
40 years$1,308$824$502$297$172$41
41 years$1,262$785$470$274$156$35
42 years$1,218$747$441$253$142$31
43 years$1,177$712$414$234$129$27
44 years$1,137$679$389$216$117$23
45 years$1,099$647$365$199$106$20
46 years$1,063$617$343$184$96$18
47 years$1,029$589$322$170$88$15
48 years$996$562$303$157$79$13
49 years$964$537$284$145$72$11
50 years$934$513$267$134$66$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $957,000, adding $2,951 every year, while hoping to spend $49,665 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: 45/43/12 Blend
70$957,000$957,000$957,000$957,000
71$1,057,658$1,006,937$992,103$1,101,516
72$1,112,696$1,003,434$972,496$1,128,765
73$1,171,683$998,094$950,567$1,153,007
74$1,234,970$990,776$926,186$1,178,188
75$1,302,941$981,328$899,217$1,204,414
76$1,376,019$969,591$869,518$1,231,805
77$1,454,665$955,394$836,940$1,260,496
78$1,539,390$938,557$801,327$1,290,638
79$1,630,752$918,890$762,515$1,322,402
80$1,729,365$896,192$720,336$1,355,981
81$1,835,903$870,248$674,610$1,391,591
82$1,951,107$840,832$625,151$1,429,475
83$2,075,792$807,706$571,766$1,469,904
84$2,210,854$770,614$514,251$1,513,184
85$2,357,277$729,290$452,395$1,559,655
86$2,516,145$683,450$385,975$1,609,700
87$2,688,646$632,794$314,760$1,663,744
88$2,876,093$577,006$238,509$1,722,266
89$3,079,925$515,750$156,970$1,785,797
90$3,301,728$448,672$69,878$1,854,931
91$3,543,245$375,398$0$1,930,331
92$3,806,397$295,534$0$2,015,688
93$4,093,295$208,660$0$2,118,611
94$4,406,264$114,337$0$2,231,096
95$4,747,863$12,100$0$2,354,204
96$5,120,907$0$0$2,489,109
97$5,528,499$0$0$2,683,741
98$5,974,050$0$0$2,902,868
99$6,461,319$0$0$3,142,626
100$6,994,444$0$0$3,405,064