Can I retire at age 71 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$80,267$79,552$78,854$78,173$77,509$77,182
2 years$39,736$38,996$38,279$37,583$36,909$36,579
3 years$26,228$25,484$24,769$24,080$23,417$23,094
4 years$19,475$18,734$18,025$17,348$16,701$16,388
5 years$15,424$14,687$13,988$13,325$12,696$12,393
6 years$12,724$11,993$11,305$10,656$10,046$9,754
7 years$10,797$10,072$9,394$8,761$8,170$7,889
8 years$9,352$8,634$7,967$7,349$6,778$6,508
9 years$8,229$7,517$6,862$6,260$5,708$5,449
10 years$7,330$6,626$5,983$5,396$4,863$4,616
11 years$6,596$5,899$5,267$4,696$4,183$3,946
12 years$5,985$5,294$4,674$4,119$3,625$3,398
13 years$5,468$4,785$4,176$3,637$3,161$2,945
14 years$5,025$4,349$3,752$3,228$2,771$2,565
15 years$4,641$3,973$3,388$2,879$2,439$2,243
16 years$4,306$3,645$3,072$2,578$2,156$1,969
17 years$4,011$3,357$2,795$2,316$1,912$1,734
18 years$3,749$3,102$2,551$2,087$1,700$1,532
19 years$3,514$2,875$2,336$1,886$1,515$1,356
20 years$3,304$2,671$2,144$1,708$1,353$1,202
21 years$3,113$2,488$1,972$1,550$1,211$1,068
22 years$2,940$2,323$1,817$1,410$1,086$950
23 years$2,783$2,172$1,678$1,284$974$847
24 years$2,638$2,035$1,552$1,171$876$755
25 years$2,506$1,910$1,437$1,069$788$675
26 years$2,384$1,795$1,333$978$710$603
27 years$2,271$1,690$1,238$895$640$539
28 years$2,166$1,592$1,151$820$578$483
29 years$2,069$1,502$1,071$752$521$433
30 years$1,979$1,418$997$690$471$388
31 years$1,894$1,341$930$634$426$348
32 years$1,815$1,269$868$582$385$312
33 years$1,741$1,202$810$536$349$280
34 years$1,671$1,139$757$493$316$252
35 years$1,606$1,080$708$454$286$226
36 years$1,544$1,025$662$418$259$203
37 years$1,485$974$620$385$235$182
38 years$1,430$925$580$355$213$164
39 years$1,378$880$544$327$193$148
40 years$1,329$837$510$302$175$133
41 years$1,282$797$478$278$159$119
42 years$1,237$759$448$257$144$107
43 years$1,195$723$421$237$131$97
44 years$1,155$689$395$219$119$87
45 years$1,116$657$371$202$108$78
46 years$1,080$627$348$187$98$70
47 years$1,045$598$327$173$89$63
48 years$1,012$571$307$159$81$57
49 years$980$545$289$147$73$51
50 years$949$521$272$136$67$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $972,000, adding $5,701 every year, while hoping to spend $35,916 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: 35/35/30 Blend
70$972,000$972,000$972,000$972,000
71$1,077,025$1,025,509$1,010,443$1,104,842
72$1,148,667$1,037,544$1,006,078$1,138,313
73$1,226,413$1,048,966$1,000,364$1,170,797
74$1,310,847$1,059,705$993,216$1,205,169
75$1,402,613$1,069,690$984,548$1,241,622
76$1,502,418$1,078,843$974,269$1,280,373
77$1,611,040$1,087,082$962,282$1,321,663
78$1,729,336$1,094,319$948,489$1,365,758
79$1,858,248$1,100,461$932,783$1,412,956
80$1,998,814$1,105,408$915,056$1,463,587
81$2,152,174$1,109,054$895,192$1,518,015
82$2,319,586$1,111,288$873,071$1,576,647
83$2,502,433$1,111,990$848,568$1,639,935
84$2,702,237$1,111,033$821,550$1,708,378
85$2,920,674$1,108,283$791,881$1,782,530
86$3,159,590$1,103,597$759,417$1,863,007
87$3,421,018$1,096,822$724,007$1,950,491
88$3,707,195$1,087,799$685,494$2,045,736
89$4,020,584$1,076,357$643,713$2,149,579
90$4,363,899$1,062,314$598,494$2,262,948
91$4,740,129$1,045,480$549,655$2,386,870
92$5,152,565$1,025,651$497,011$2,522,480
93$5,604,830$1,002,612$440,365$2,671,038
94$6,100,918$976,135$379,512$2,833,936
95$6,645,226$945,979$314,240$3,012,715
96$7,242,596$911,889$244,324$3,209,082
97$7,898,364$873,595$169,532$3,424,922
98$8,618,406$830,810$89,620$3,662,322
99$9,409,197$783,233$4,336$3,923,589
100$10,277,867$730,544$0$4,211,274