Can I retire at age 71 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$79,358$78,652$77,962$77,289$76,631$76,244
2 years$39,286$38,555$37,846$37,158$36,491$36,101
3 years$25,931$25,196$24,489$23,808$23,152$22,769
4 years$19,254$18,522$17,821$17,152$16,512$16,141
5 years$15,249$14,521$13,830$13,174$12,552$12,194
6 years$12,580$11,858$11,177$10,536$9,932$9,587
7 years$10,675$9,958$9,288$8,662$8,077$7,746
8 years$9,246$8,536$7,877$7,266$6,701$6,382
9 years$8,135$7,432$6,784$6,189$5,643$5,338
10 years$7,248$6,551$5,915$5,335$4,808$4,516
11 years$6,522$5,832$5,207$4,643$4,135$3,856
12 years$5,917$5,234$4,621$4,073$3,584$3,316
13 years$5,406$4,730$4,129$3,596$3,125$2,870
14 years$4,968$4,300$3,710$3,192$2,739$2,497
15 years$4,589$3,928$3,349$2,847$2,412$2,181
16 years$4,258$3,604$3,037$2,549$2,132$1,912
17 years$3,966$3,319$2,763$2,290$1,890$1,682
18 years$3,706$3,067$2,523$2,064$1,681$1,483
19 years$3,474$2,842$2,309$1,865$1,498$1,311
20 years$3,266$2,641$2,119$1,689$1,338$1,161
21 years$3,078$2,460$1,949$1,533$1,197$1,030
22 years$2,907$2,297$1,797$1,394$1,073$915
23 years$2,751$2,148$1,659$1,269$963$814
24 years$2,609$2,012$1,534$1,158$866$725
25 years$2,478$1,889$1,421$1,057$779$646
26 years$2,357$1,775$1,318$967$702$577
27 years$2,245$1,670$1,224$885$633$515
28 years$2,142$1,574$1,138$811$571$461
29 years$2,046$1,485$1,059$743$516$412
30 years$1,956$1,402$986$682$466$369
31 years$1,873$1,326$919$627$421$330
32 years$1,794$1,254$858$576$381$296
33 years$1,721$1,188$801$530$345$265
34 years$1,652$1,126$748$487$312$238
35 years$1,587$1,068$700$449$283$213
36 years$1,526$1,014$654$413$256$191
37 years$1,469$963$613$381$232$171
38 years$1,414$915$574$351$211$154
39 years$1,363$870$537$323$191$138
40 years$1,314$828$504$298$173$124
41 years$1,268$788$472$275$157$111
42 years$1,223$750$443$254$143$100
43 years$1,182$715$416$235$129$90
44 years$1,142$681$390$217$117$81
45 years$1,104$650$366$200$107$73
46 years$1,068$620$344$185$97$65
47 years$1,033$592$323$171$88$59
48 years$1,000$565$304$158$80$53
49 years$968$539$286$146$72$47
50 years$938$515$269$135$66$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $961,000, adding $4,577 every year, while hoping to spend $50,917 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: 32/41/27 Blend
70$961,000$961,000$961,000$961,000
71$1,063,743$1,012,810$997,915$1,088,889
72$1,118,070$1,008,263$977,170$1,103,941
73$1,176,231$1,001,786$954,023$1,115,311
74$1,238,564$993,231$928,341$1,126,556
75$1,305,440$982,442$899,982$1,137,697
76$1,377,264$969,250$868,801$1,148,767
77$1,454,483$953,481$834,643$1,159,802
78$1,537,584$934,946$797,348$1,170,852
79$1,627,107$913,448$756,748$1,181,973
80$1,723,641$888,775$712,668$1,193,234
81$1,827,834$860,707$664,924$1,204,717
82$1,940,398$829,007$613,325$1,216,519
83$2,062,118$793,427$557,670$1,228,753
84$2,193,852$753,703$497,750$1,241,550
85$2,336,547$709,557$433,347$1,255,065
86$2,491,243$660,694$364,232$1,269,473
87$2,659,084$606,802$290,168$1,284,978
88$2,841,327$547,552$210,905$1,301,811
89$3,039,356$482,595$126,184$1,320,239
90$3,254,693$411,565$35,734$1,340,565
91$3,489,012$334,072$0$1,363,133
92$3,744,155$249,705$0$1,405,847
93$4,022,149$158,031$0$1,463,762
94$4,325,226$58,592$0$1,527,160
95$4,655,840$0$0$1,596,698
96$5,016,694$0$0$1,695,261
97$5,410,763$0$0$1,831,900
98$5,841,322$0$0$1,981,333
99$6,311,975$0$0$2,144,830
100$6,826,692$0$0$2,323,788