Can I retire at age 71 with 957,000?

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 $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%14%
1 years$79,028$78,324$77,637$76,967$76,313$75,048
2 years$39,123$38,394$37,688$37,003$36,339$35,069
3 years$25,823$25,091$24,387$23,708$23,055$21,819
4 years$19,174$18,445$17,747$17,081$16,443$15,250
5 years$15,186$14,461$13,773$13,120$12,500$11,354
6 years$12,528$11,808$11,130$10,492$9,891$8,792
7 years$10,630$9,917$9,249$8,626$8,044$6,994
8 years$9,208$8,500$7,844$7,236$6,673$5,671
9 years$8,102$7,401$6,756$6,164$5,620$4,666
10 years$7,217$6,524$5,890$5,313$4,788$3,881
11 years$6,494$5,808$5,186$4,624$4,118$3,257
12 years$5,892$5,213$4,602$4,056$3,569$2,752
13 years$5,383$4,711$4,112$3,581$3,112$2,339
14 years$4,947$4,282$3,694$3,178$2,728$1,997
15 years$4,570$3,912$3,336$2,835$2,402$1,712
16 years$4,240$3,589$3,024$2,538$2,123$1,472
17 years$3,949$3,305$2,752$2,280$1,882$1,269
18 years$3,691$3,054$2,512$2,055$1,674$1,097
19 years$3,460$2,831$2,300$1,857$1,492$950
20 years$3,253$2,630$2,111$1,682$1,332$824
21 years$3,065$2,450$1,941$1,526$1,192$716
22 years$2,895$2,287$1,789$1,388$1,069$623
23 years$2,740$2,139$1,652$1,264$959$543
24 years$2,598$2,004$1,528$1,153$862$473
25 years$2,467$1,881$1,415$1,053$776$413
26 years$2,347$1,768$1,312$963$699$360
27 years$2,236$1,663$1,219$881$630$315
28 years$2,133$1,568$1,133$807$569$275
29 years$2,037$1,479$1,054$740$513$240
30 years$1,948$1,397$982$679$464$210
31 years$1,865$1,320$916$624$419$184
32 years$1,787$1,249$854$573$379$161
33 years$1,714$1,183$798$527$343$141
34 years$1,645$1,121$745$485$311$124
35 years$1,581$1,063$697$447$282$108
36 years$1,520$1,009$652$411$255$95
37 years$1,463$959$610$379$231$83
38 years$1,408$911$571$349$210$73
39 years$1,357$866$535$322$190$64
40 years$1,308$824$502$297$172$56
41 years$1,262$785$470$274$156$49
42 years$1,218$747$441$253$142$43
43 years$1,177$712$414$234$129$38
44 years$1,137$679$389$216$117$33
45 years$1,099$647$365$199$106$29
46 years$1,063$617$343$184$96$25
47 years$1,029$589$322$170$88$22
48 years$996$562$303$157$79$20
49 years$964$537$284$145$72$17
50 years$934$513$267$134$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $957,000, adding $3,531 every year, while hoping to spend $41,290 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: 76/8/16 Blend
70$957,000$957,000$957,000$957,000
71$1,058,256$1,007,535$992,702$1,134,700
72$1,122,266$1,012,972$982,025$1,191,130
73$1,191,421$1,017,292$969,607$1,247,478
74$1,266,203$1,020,395$955,345$1,308,135
75$1,347,139$1,022,179$939,133$1,373,517
76$1,434,813$1,022,531$920,859$1,444,085
77$1,529,862$1,021,333$900,407$1,520,345
78$1,632,991$1,018,461$877,653$1,602,853
79$1,744,971$1,013,782$852,470$1,692,227
80$1,866,655$1,007,153$824,724$1,789,144
81$1,998,976$998,426$794,275$1,894,353
82$2,142,965$987,443$760,976$2,008,677
83$2,299,754$974,033$724,675$2,133,026
84$2,470,588$958,021$685,211$2,268,403
85$2,656,840$939,216$642,418$2,415,913
86$2,860,018$917,418$596,120$2,576,773
87$3,081,785$892,416$546,134$2,752,329
88$3,323,968$863,985$492,271$2,944,060
89$3,588,580$831,888$434,330$3,153,601
90$3,877,839$795,874$372,103$3,382,753
91$4,194,183$755,677$305,373$3,633,500
92$4,540,300$711,015$233,913$3,908,031
93$4,919,148$661,592$157,486$4,208,761
94$5,333,984$607,093$75,845$4,538,351
95$5,788,395$547,185$0$4,899,735
96$6,286,331$481,518$0$5,298,072
97$6,832,145$409,719$0$5,748,948
98$7,430,626$331,398$0$6,243,379
99$8,087,053$246,140$0$6,785,751
100$8,807,239$153,507$0$7,380,896