Can I retire at age 71 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$80,515$79,797$79,098$78,415$77,748$75,838
2 years$39,859$39,116$38,397$37,699$37,023$35,110
3 years$26,309$25,563$24,845$24,154$23,489$21,633
4 years$19,535$18,791$18,081$17,402$16,752$14,968
5 years$15,472$14,733$14,032$13,366$12,735$11,027
6 years$12,764$12,030$11,340$10,689$10,077$8,448
7 years$10,830$10,103$9,423$8,788$8,195$6,644
8 years$9,381$8,660$7,992$7,372$6,799$5,326
9 years$8,254$7,540$6,883$6,279$5,725$4,329
10 years$7,353$6,646$6,001$5,413$4,878$3,557
11 years$6,617$5,917$5,283$4,711$4,196$2,947
12 years$6,003$5,311$4,689$4,132$3,636$2,458
13 years$5,485$4,799$4,189$3,648$3,170$2,062
14 years$5,040$4,362$3,764$3,238$2,779$1,737
15 years$4,656$3,985$3,398$2,888$2,447$1,468
16 years$4,320$3,656$3,081$2,586$2,163$1,245
17 years$4,023$3,367$2,804$2,323$1,918$1,058
18 years$3,760$3,112$2,559$2,094$1,705$901
19 years$3,525$2,884$2,343$1,892$1,520$769
20 years$3,314$2,680$2,150$1,714$1,357$657
21 years$3,123$2,496$1,978$1,555$1,215$562
22 years$2,949$2,330$1,823$1,414$1,089$482
23 years$2,791$2,179$1,683$1,288$977$413
24 years$2,647$2,042$1,557$1,174$879$354
25 years$2,514$1,916$1,442$1,073$791$304
26 years$2,391$1,801$1,337$981$712$261
27 years$2,278$1,695$1,242$898$642$225
28 years$2,173$1,597$1,154$822$579$193
29 years$2,076$1,507$1,074$754$523$166
30 years$1,985$1,423$1,000$692$473$143
31 years$1,900$1,345$933$636$427$123
32 years$1,820$1,273$870$584$387$106
33 years$1,746$1,205$813$537$350$91
34 years$1,676$1,142$759$494$317$79
35 years$1,610$1,083$710$455$287$68
36 years$1,549$1,028$664$419$260$58
37 years$1,490$977$622$386$236$50
38 years$1,435$928$582$356$214$43
39 years$1,383$883$545$328$194$37
40 years$1,333$840$511$303$176$32
41 years$1,286$799$479$279$159$28
42 years$1,241$761$450$258$145$24
43 years$1,199$725$422$238$131$21
44 years$1,158$691$396$220$119$18
45 years$1,120$659$372$203$108$15
46 years$1,083$629$349$187$98$13
47 years$1,048$600$328$173$89$11
48 years$1,015$573$308$160$81$10
49 years$983$547$290$148$74$8
50 years$952$523$272$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $975,000, adding $2,343 every year, while hoping to spend $41,547 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: 50/20/30 Blend
70$975,000$975,000$975,000$975,000
71$1,076,867$1,025,192$1,010,079$1,121,443
72$1,142,502$1,031,221$999,711$1,158,961
73$1,213,439$1,036,152$987,603$1,195,426
74$1,290,175$1,039,889$973,654$1,234,269
75$1,373,256$1,042,328$957,755$1,275,734
76$1,463,284$1,043,357$939,795$1,320,095
77$1,560,919$1,042,861$919,658$1,367,656
78$1,666,885$1,040,714$897,220$1,418,751
79$1,781,984$1,036,785$872,352$1,473,755
80$1,907,092$1,030,934$844,922$1,533,079
81$2,043,176$1,023,011$814,788$1,597,183
82$2,191,301$1,012,859$781,804$1,666,574
83$2,352,635$1,000,310$745,816$1,741,812
84$2,528,467$985,188$706,664$1,823,523
85$2,720,213$967,305$664,179$1,912,394
86$2,929,433$946,462$618,188$2,009,190
87$3,157,845$922,448$568,507$2,114,755
88$3,407,337$895,039$514,943$2,230,024
89$3,679,990$864,001$457,298$2,356,033
90$3,978,094$829,082$395,363$2,493,927
91$4,304,171$790,019$328,920$2,644,972
92$4,660,999$746,532$257,740$2,810,569
93$5,051,633$698,324$181,587$2,992,266
94$5,479,441$645,084$100,212$3,191,778
95$5,948,131$586,480$13,356$3,410,996
96$6,461,785$522,162$0$3,652,014
97$7,024,901$451,762$0$3,942,540
98$7,642,431$374,888$0$4,265,948
99$8,319,830$291,129$0$4,620,876
100$9,063,108$200,049$0$5,010,544