Can I retire at age 71 with 961,000?

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 $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%12%
1 years$79,358$78,652$77,962$77,289$76,631$75,989
2 years$39,286$38,555$37,846$37,158$36,491$35,844
3 years$25,931$25,196$24,489$23,808$23,152$22,519
4 years$19,254$18,522$17,821$17,152$16,512$15,900
5 years$15,249$14,521$13,830$13,174$12,552$11,961
6 years$12,580$11,858$11,177$10,536$9,932$9,364
7 years$10,675$9,958$9,288$8,662$8,077$7,532
8 years$9,246$8,536$7,877$7,266$6,701$6,178
9 years$8,135$7,432$6,784$6,189$5,643$5,143
10 years$7,248$6,551$5,915$5,335$4,808$4,330
11 years$6,522$5,832$5,207$4,643$4,135$3,679
12 years$5,917$5,234$4,621$4,073$3,584$3,149
13 years$5,406$4,730$4,129$3,596$3,125$2,711
14 years$4,968$4,300$3,710$3,192$2,739$2,346
15 years$4,589$3,928$3,349$2,847$2,412$2,038
16 years$4,258$3,604$3,037$2,549$2,132$1,777
17 years$3,966$3,319$2,763$2,290$1,890$1,554
18 years$3,706$3,067$2,523$2,064$1,681$1,363
19 years$3,474$2,842$2,309$1,865$1,498$1,198
20 years$3,266$2,641$2,119$1,689$1,338$1,055
21 years$3,078$2,460$1,949$1,533$1,197$930
22 years$2,907$2,297$1,797$1,394$1,073$821
23 years$2,751$2,148$1,659$1,269$963$726
24 years$2,609$2,012$1,534$1,158$866$643
25 years$2,478$1,889$1,421$1,057$779$570
26 years$2,357$1,775$1,318$967$702$505
27 years$2,245$1,670$1,224$885$633$449
28 years$2,142$1,574$1,138$811$571$398
29 years$2,046$1,485$1,059$743$516$354
30 years$1,956$1,402$986$682$466$315
31 years$1,873$1,326$919$627$421$280
32 years$1,794$1,254$858$576$381$249
33 years$1,721$1,188$801$530$345$222
34 years$1,652$1,126$748$487$312$198
35 years$1,587$1,068$700$449$283$176
36 years$1,526$1,014$654$413$256$157
37 years$1,469$963$613$381$232$140
38 years$1,414$915$574$351$211$125
39 years$1,363$870$537$323$191$111
40 years$1,314$828$504$298$173$99
41 years$1,268$788$472$275$157$88
42 years$1,223$750$443$254$143$79
43 years$1,182$715$416$235$129$70
44 years$1,142$681$390$217$117$63
45 years$1,104$650$366$200$107$56
46 years$1,068$620$344$185$97$50
47 years$1,033$592$323$171$88$45
48 years$1,000$565$304$158$80$40
49 years$968$539$286$146$72$35
50 years$938$515$269$135$66$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $961,000, adding $3,537 every year, while hoping to spend $57,946 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: 73/12/15 Blend
70$961,000$961,000$961,000$961,000
71$1,062,670$1,011,737$996,842$1,136,457
72$1,109,409$999,658$968,582$1,173,729
73$1,158,972$985,046$937,433$1,207,099
74$1,211,588$967,713$903,238$1,242,114
75$1,267,504$947,465$865,830$1,278,925
76$1,326,992$924,094$825,038$1,317,697
77$1,390,349$897,378$780,681$1,358,613
78$1,457,901$867,086$732,570$1,401,878
79$1,530,004$832,970$680,508$1,447,716
80$1,607,048$794,770$624,289$1,496,377
81$1,689,462$752,208$563,698$1,548,137
82$1,777,714$704,994$498,509$1,603,303
83$1,872,320$652,818$428,488$1,662,213
84$1,973,845$595,353$353,390$1,725,243
85$2,082,906$532,255$272,958$1,792,807
86$2,200,186$463,159$186,926$1,865,367
87$2,326,430$387,679$95,013$1,943,431
88$2,462,459$305,408$0$2,027,563
89$2,609,172$215,915$0$2,118,878
90$2,767,560$118,748$0$2,233,834
91$2,938,709$13,424$0$2,358,022
92$3,123,815$0$0$2,492,340
93$3,324,190$0$0$2,651,055
94$3,541,278$0$0$2,824,965
95$3,776,667$0$0$3,013,575
96$4,032,103$0$0$3,218,287
97$4,309,504$0$0$3,440,646
98$4,610,984$0$0$3,682,350
99$4,938,865$0$0$3,945,266
100$5,295,702$0$0$4,231,451