Can I retire at age 71 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$80,019$79,306$78,611$77,932$77,269$76,782
2 years$39,613$38,876$38,161$37,467$36,795$36,304
3 years$26,147$25,406$24,692$24,006$23,344$22,864
4 years$19,415$18,676$17,970$17,295$16,649$16,184
5 years$15,376$14,642$13,945$13,284$12,657$12,207
6 years$12,685$11,956$11,270$10,623$10,015$9,582
7 years$10,764$10,041$9,365$8,734$8,145$7,729
8 years$9,323$8,607$7,943$7,327$6,757$6,358
9 years$8,203$7,494$6,841$6,241$5,690$5,308
10 years$7,308$6,606$5,964$5,380$4,848$4,482
11 years$6,576$5,880$5,251$4,682$4,170$3,820
12 years$5,966$5,278$4,660$4,107$3,613$3,280
13 years$5,451$4,770$4,163$3,626$3,151$2,833
14 years$5,009$4,336$3,741$3,218$2,762$2,459
15 years$4,627$3,961$3,377$2,870$2,432$2,144
16 years$4,293$3,634$3,062$2,570$2,149$1,876
17 years$3,999$3,347$2,786$2,309$1,906$1,646
18 years$3,737$3,092$2,544$2,081$1,695$1,449
19 years$3,503$2,866$2,329$1,880$1,510$1,278
20 years$3,293$2,663$2,137$1,703$1,349$1,129
21 years$3,104$2,481$1,966$1,546$1,207$999
22 years$2,931$2,316$1,812$1,405$1,082$886
23 years$2,774$2,166$1,673$1,280$971$786
24 years$2,630$2,029$1,547$1,167$873$699
25 years$2,498$1,904$1,433$1,066$786$622
26 years$2,377$1,790$1,329$975$708$554
27 years$2,264$1,684$1,234$892$638$493
28 years$2,160$1,587$1,147$817$576$440
29 years$2,063$1,497$1,068$750$520$393
30 years$1,972$1,414$994$688$470$350
31 years$1,888$1,337$927$632$425$313
32 years$1,809$1,265$865$581$384$280
33 years$1,735$1,198$808$534$348$250
34 years$1,666$1,135$755$491$315$224
35 years$1,601$1,077$705$452$285$200
36 years$1,539$1,022$660$417$258$179
37 years$1,481$971$618$384$234$160
38 years$1,426$922$578$354$212$143
39 years$1,374$877$542$326$192$128
40 years$1,325$835$508$301$175$115
41 years$1,278$794$476$278$158$103
42 years$1,234$757$447$256$144$92
43 years$1,191$721$419$236$130$83
44 years$1,151$687$394$218$118$74
45 years$1,113$655$370$202$107$66
46 years$1,077$625$347$186$98$59
47 years$1,042$597$326$172$89$53
48 years$1,008$569$306$159$80$48
49 years$977$544$288$147$73$43
50 years$946$519$271$136$66$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $969,000, adding $4,968 every year, while hoping to spend $29,403 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: 61/29/10 Blend
70$969,000$969,000$969,000$969,000
71$1,072,962$1,021,605$1,006,586$1,135,671
72$1,151,120$1,040,380$1,009,022$1,197,078
73$1,236,264$1,059,088$1,010,554$1,260,242
74$1,329,077$1,077,697$1,011,121$1,328,433
75$1,430,308$1,096,169$1,010,659$1,402,138
76$1,540,782$1,114,465$1,009,099$1,481,892
77$1,661,410$1,132,541$1,006,372$1,568,286
78$1,793,191$1,150,353$1,002,402$1,661,972
79$1,937,226$1,167,850$997,113$1,763,666
80$2,094,729$1,184,980$990,422$1,874,160
81$2,267,034$1,201,687$982,243$1,994,325
82$2,455,611$1,217,909$972,488$2,125,121
83$2,662,079$1,233,583$961,063$2,267,608
84$2,888,221$1,248,639$947,868$2,422,952
85$3,136,000$1,263,002$932,802$2,592,440
86$3,407,577$1,276,594$915,756$2,777,491
87$3,705,334$1,289,331$896,618$2,979,667
88$4,031,893$1,301,124$875,270$3,200,693
89$4,390,142$1,311,875$851,587$3,442,467
90$4,783,263$1,321,483$825,442$3,707,085
91$5,214,761$1,329,840$796,699$3,996,855
92$5,688,494$1,336,830$765,216$4,314,323
93$6,208,716$1,342,331$730,846$4,662,294
94$6,780,110$1,346,210$693,435$5,043,861
95$7,407,837$1,348,330$652,821$5,462,434
96$8,097,581$1,348,543$608,835$5,921,773
97$8,855,605$1,346,691$561,301$6,426,022
98$9,688,807$1,342,610$510,035$6,979,747
99$10,604,788$1,336,121$454,844$7,587,986
100$11,611,923$1,327,037$395,528$8,256,290