Can I retire at age 71 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$80,349$79,634$78,935$78,254$77,588$76,053
2 years$39,777$39,036$38,318$37,622$36,947$35,406
3 years$26,255$25,511$24,794$24,105$23,441$21,943
4 years$19,495$18,753$18,044$17,366$16,718$15,275
5 years$15,440$14,703$14,003$13,339$12,709$11,325
6 years$12,737$12,006$11,316$10,667$10,056$8,732
7 years$10,808$10,082$9,404$8,770$8,178$6,915
8 years$9,361$8,642$7,975$7,357$6,785$5,581
9 years$8,237$7,525$6,869$6,267$5,714$4,570
10 years$7,338$6,633$5,989$5,402$4,868$3,783
11 years$6,603$5,905$5,272$4,701$4,187$3,158
12 years$5,991$5,300$4,679$4,124$3,628$2,655
13 years$5,473$4,789$4,180$3,641$3,164$2,244
14 years$5,030$4,353$3,756$3,232$2,773$1,906
15 years$4,646$3,977$3,391$2,882$2,442$1,625
16 years$4,311$3,649$3,075$2,581$2,158$1,390
17 years$4,015$3,360$2,798$2,319$1,914$1,191
18 years$3,752$3,105$2,554$2,090$1,702$1,024
19 years$3,518$2,878$2,338$1,888$1,517$882
20 years$3,307$2,674$2,146$1,710$1,355$760
21 years$3,116$2,491$1,974$1,552$1,212$656
22 years$2,943$2,325$1,819$1,411$1,087$568
23 years$2,786$2,175$1,680$1,285$975$491
24 years$2,641$2,038$1,553$1,172$877$425
25 years$2,509$1,912$1,439$1,070$789$369
26 years$2,386$1,797$1,334$979$711$320
27 years$2,273$1,691$1,239$896$641$278
28 years$2,169$1,594$1,152$821$578$241
29 years$2,071$1,503$1,072$753$522$209
30 years$1,981$1,420$998$691$472$182
31 years$1,896$1,342$931$634$426$158
32 years$1,817$1,270$868$583$386$138
33 years$1,743$1,203$811$536$349$120
34 years$1,673$1,140$758$493$316$104
35 years$1,607$1,081$708$454$286$91
36 years$1,545$1,026$663$418$259$79
37 years$1,487$975$620$385$235$69
38 years$1,432$926$581$355$213$60
39 years$1,380$881$544$328$193$52
40 years$1,330$838$510$302$175$45
41 years$1,283$798$478$279$159$39
42 years$1,239$760$449$257$144$34
43 years$1,196$724$421$237$131$30
44 years$1,156$690$395$219$119$26
45 years$1,118$658$371$202$108$23
46 years$1,081$628$348$187$98$20
47 years$1,046$599$327$173$89$17
48 years$1,013$572$308$160$81$15
49 years$981$546$289$148$73$13
50 years$950$522$272$136$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $973,000, adding $5,973 every year, while hoping to spend $32,639 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: 53/21/26 Blend
70$973,000$973,000$973,000$973,000
71$1,078,407$1,026,838$1,011,757$1,127,476
72$1,153,677$1,042,426$1,010,923$1,177,635
73$1,235,531$1,057,683$1,008,967$1,228,358
74$1,324,605$1,072,559$1,005,818$1,282,896
75$1,421,601$1,087,001$1,001,399$1,341,626
76$1,527,289$1,100,950$995,631$1,404,965
77$1,642,520$1,114,343$988,432$1,473,373
78$1,768,227$1,127,116$979,714$1,547,358
79$1,905,438$1,139,196$969,387$1,627,480
80$2,055,286$1,150,510$957,354$1,714,358
81$2,219,016$1,160,976$943,516$1,808,676
82$2,398,000$1,170,509$927,769$1,911,188
83$2,593,749$1,179,017$910,002$2,022,726
84$2,807,926$1,186,403$890,102$2,144,210
85$3,042,362$1,192,564$867,947$2,276,655
86$3,299,073$1,197,390$843,414$2,421,180
87$3,580,280$1,200,763$816,370$2,579,021
88$3,888,428$1,202,560$786,678$2,751,543
89$4,226,210$1,202,648$754,194$2,940,250
90$4,596,593$1,200,888$718,769$3,146,804
91$5,002,843$1,197,129$680,245$3,373,038
92$5,448,559$1,191,214$638,459$3,620,976
93$5,937,703$1,182,975$593,239$3,892,848
94$6,474,642$1,172,234$544,406$4,191,118
95$7,064,185$1,158,802$491,773$4,518,502
96$7,711,628$1,142,480$435,144$4,877,999
97$8,422,809$1,123,056$374,315$5,272,915
98$9,204,154$1,100,304$309,073$5,706,898
99$10,062,746$1,073,988$239,196$6,183,972
100$11,006,387$1,043,855$164,450$6,708,577