Can I retire at age 71 with 963,000?

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 $963,000?

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$79,524$78,815$78,124$77,450$76,791$75,179
2 years$39,368$38,635$37,924$37,235$36,567$34,951
3 years$25,985$25,248$24,540$23,857$23,200$21,629
4 years$19,294$18,560$17,859$17,188$16,546$15,034
5 years$15,281$14,551$13,859$13,202$12,578$11,128
6 years$12,607$11,882$11,200$10,558$9,953$8,567
7 years$10,697$9,979$9,307$8,680$8,094$6,772
8 years$9,265$8,554$7,893$7,281$6,715$5,457
9 years$8,152$7,447$6,799$6,202$5,655$4,460
10 years$7,263$6,565$5,927$5,346$4,818$3,685
11 years$6,535$5,844$5,218$4,653$4,144$3,071
12 years$5,929$5,245$4,631$4,081$3,591$2,576
13 years$5,417$4,740$4,137$3,603$3,131$2,174
14 years$4,978$4,309$3,718$3,198$2,745$1,842
15 years$4,598$3,936$3,356$2,852$2,417$1,567
16 years$4,266$3,611$3,043$2,554$2,136$1,337
17 years$3,974$3,326$2,769$2,295$1,894$1,144
18 years$3,714$3,073$2,528$2,068$1,684$981
19 years$3,482$2,848$2,314$1,869$1,501$843
20 years$3,273$2,647$2,124$1,692$1,341$725
21 years$3,084$2,465$1,953$1,536$1,200$625
22 years$2,913$2,301$1,800$1,397$1,075$539
23 years$2,757$2,152$1,662$1,272$965$465
24 years$2,614$2,017$1,537$1,160$868$402
25 years$2,483$1,893$1,424$1,059$781$348
26 years$2,362$1,779$1,321$969$703$301
27 years$2,250$1,674$1,226$887$634$261
28 years$2,146$1,577$1,140$812$572$226
29 years$2,050$1,488$1,061$745$517$196
30 years$1,960$1,405$988$684$467$170
31 years$1,876$1,328$921$628$422$147
32 years$1,798$1,257$860$577$382$128
33 years$1,725$1,190$803$531$346$111
34 years$1,656$1,128$750$488$313$96
35 years$1,591$1,070$701$449$283$83
36 years$1,529$1,016$656$414$257$72
37 years$1,472$965$614$381$233$63
38 years$1,417$917$575$352$211$54
39 years$1,366$872$539$324$191$47
40 years$1,317$829$505$299$174$41
41 years$1,270$790$473$276$157$36
42 years$1,226$752$444$255$143$31
43 years$1,184$716$417$235$130$27
44 years$1,144$683$391$217$118$23
45 years$1,106$651$367$200$107$20
46 years$1,070$621$345$185$97$18
47 years$1,035$593$324$171$88$15
48 years$1,002$566$305$158$80$13
49 years$971$540$286$146$73$12
50 years$940$516$269$135$66$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $963,000, adding $6,474 every year, while hoping to spend $39,026 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: 43/38/19 Blend
70$963,000$963,000$963,000$963,000
71$1,067,904$1,016,865$1,001,938$1,107,666
72$1,135,307$1,025,168$993,980$1,144,670
73$1,208,277$1,032,570$984,447$1,180,417
74$1,287,340$1,038,985$973,245$1,218,332
75$1,373,077$1,044,323$960,277$1,258,637
76$1,466,123$1,048,487$945,438$1,301,572
77$1,567,179$1,051,375$928,622$1,347,410
78$1,677,015$1,052,876$909,715$1,396,448
79$1,796,480$1,052,876$888,599$1,449,019
80$1,926,504$1,051,250$865,151$1,505,492
81$2,068,115$1,047,869$839,240$1,566,275
82$2,222,440$1,042,592$810,733$1,631,821
83$2,390,724$1,035,274$779,487$1,702,634
84$2,574,332$1,025,757$745,355$1,779,269
85$2,774,771$1,013,876$708,181$1,862,344
86$2,993,697$999,455$667,804$1,952,543
87$3,232,935$982,309$624,056$2,050,621
88$3,494,491$962,239$576,760$2,157,418
89$3,780,579$939,038$525,730$2,273,863
90$4,093,631$912,484$470,775$2,400,982
91$4,436,328$882,343$411,693$2,539,914
92$4,811,623$848,367$348,274$2,691,917
93$5,222,766$810,295$280,299$2,858,383
94$5,673,337$767,848$207,537$3,040,856
95$6,167,278$720,733$129,751$3,241,037
96$6,708,931$668,640$46,689$3,460,813
97$7,303,081$611,242$0$3,702,269
98$7,954,993$548,190$0$3,976,213
99$8,670,470$479,120$0$4,287,343
100$9,455,905$403,643$0$4,629,057