Can I retire at age 71 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$79,854$79,143$78,449$77,771$77,110$76,083
2 years$39,532$38,795$38,082$37,390$36,719$35,686
3 years$26,093$25,353$24,642$23,956$23,296$22,289
4 years$19,374$18,637$17,933$17,259$16,615$15,642
5 years$15,345$14,612$13,917$13,257$12,630$11,694
6 years$12,659$11,932$11,247$10,601$9,994$9,096
7 years$10,741$10,020$9,346$8,716$8,128$7,267
8 years$9,304$8,589$7,926$7,312$6,743$5,920
9 years$8,186$7,478$6,827$6,228$5,678$4,894
10 years$7,293$6,592$5,952$5,369$4,838$4,091
11 years$6,562$5,868$5,240$4,672$4,161$3,450
12 years$5,954$5,267$4,650$4,098$3,606$2,930
13 years$5,440$4,760$4,155$3,618$3,144$2,503
14 years$4,999$4,327$3,733$3,212$2,756$2,149
15 years$4,618$3,952$3,370$2,864$2,427$1,852
16 years$4,284$3,626$3,056$2,565$2,145$1,602
17 years$3,990$3,340$2,781$2,304$1,902$1,389
18 years$3,729$3,086$2,538$2,077$1,691$1,208
19 years$3,496$2,860$2,324$1,876$1,507$1,052
20 years$3,287$2,658$2,133$1,699$1,346$918
21 years$3,097$2,476$1,962$1,542$1,205$803
22 years$2,925$2,311$1,808$1,402$1,080$702
23 years$2,768$2,161$1,669$1,277$969$616
24 years$2,625$2,025$1,544$1,165$871$540
25 years$2,493$1,900$1,430$1,064$784$474
26 years$2,372$1,786$1,326$973$706$416
27 years$2,259$1,681$1,231$890$637$366
28 years$2,155$1,584$1,145$816$575$322
29 years$2,059$1,494$1,065$748$519$283
30 years$1,968$1,411$992$687$469$250
31 years$1,884$1,334$925$631$424$220
32 years$1,806$1,262$863$579$383$194
33 years$1,732$1,195$806$533$347$171
34 years$1,662$1,133$753$490$314$151
35 years$1,597$1,075$704$451$285$133
36 years$1,536$1,020$659$416$258$117
37 years$1,478$969$616$383$234$103
38 years$1,423$921$577$353$212$91
39 years$1,371$875$541$325$192$80
40 years$1,322$833$507$300$174$71
41 years$1,275$793$475$277$158$63
42 years$1,231$755$446$256$143$55
43 years$1,189$719$418$236$130$49
44 years$1,149$686$393$218$118$43
45 years$1,111$654$369$201$107$38
46 years$1,074$624$346$186$97$34
47 years$1,040$595$325$172$88$30
48 years$1,006$568$306$159$80$26
49 years$975$543$287$147$73$23
50 years$944$518$270$136$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $967,000, adding $2,801 every year, while hoping to spend $22,594 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: 57/29/14 Blend
70$967,000$967,000$967,000$967,000
71$1,068,523$1,017,272$1,002,284$1,125,444
72$1,153,473$1,043,079$1,011,820$1,190,110
73$1,246,330$1,069,392$1,020,919$1,257,817
74$1,347,877$1,096,215$1,029,542$1,331,070
75$1,458,977$1,123,545$1,037,648$1,410,405
76$1,580,578$1,151,384$1,045,194$1,496,412
77$1,713,724$1,179,729$1,052,136$1,589,740
78$1,859,567$1,208,580$1,058,425$1,691,105
79$2,019,375$1,237,931$1,064,014$1,801,294
80$2,194,541$1,267,780$1,068,849$1,921,176
81$2,386,604$1,298,121$1,072,875$2,051,706
82$2,597,257$1,328,948$1,076,036$2,193,937
83$2,828,363$1,360,253$1,078,269$2,349,031
84$3,081,978$1,392,027$1,079,512$2,518,264
85$3,360,362$1,424,258$1,079,698$2,703,045
86$3,666,008$1,456,936$1,078,757$2,904,925
87$4,001,661$1,490,046$1,076,616$3,125,615
88$4,370,345$1,523,573$1,073,197$3,366,997
89$4,775,390$1,557,498$1,068,419$3,631,148
90$5,220,468$1,591,803$1,062,199$3,920,353
91$5,709,620$1,626,466$1,054,447$4,237,134
92$6,247,300$1,661,462$1,045,070$4,584,267
93$6,838,416$1,696,764$1,033,971$4,964,813
94$7,488,373$1,732,345$1,021,047$5,382,142
95$8,203,127$1,768,170$1,006,193$5,839,973
96$8,989,241$1,804,205$989,295$6,342,399
97$9,853,944$1,840,412$970,238$6,893,934
98$10,805,203$1,876,749$948,898$7,499,550
99$11,851,795$1,913,170$925,146$8,164,730
100$13,003,389$1,949,627$898,850$8,895,513