Can I retire at age 71 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$80,680$79,961$79,260$78,576$77,907$75,353
2 years$39,940$39,197$38,476$37,777$37,099$34,550
3 years$26,362$25,615$24,896$24,204$23,537$21,073
4 years$19,575$18,830$18,118$17,438$16,787$14,427
5 years$15,503$14,763$14,060$13,394$12,761$10,512
6 years$12,790$12,055$11,363$10,711$10,097$7,961
7 years$10,852$10,124$9,443$8,806$8,212$6,187
8 years$9,400$8,678$8,008$7,387$6,813$4,898
9 years$8,271$7,556$6,897$6,292$5,737$3,931
10 years$7,368$6,660$6,013$5,424$4,888$3,188
11 years$6,630$5,929$5,294$4,721$4,204$2,606
12 years$6,015$5,322$4,698$4,141$3,643$2,144
13 years$5,496$4,809$4,198$3,655$3,177$1,773
14 years$5,051$4,371$3,772$3,245$2,785$1,472
15 years$4,665$3,993$3,405$2,894$2,452$1,226
16 years$4,328$3,664$3,087$2,591$2,167$1,024
17 years$4,032$3,374$2,809$2,328$1,922$857
18 years$3,768$3,118$2,565$2,098$1,709$719
19 years$3,532$2,890$2,348$1,896$1,523$604
20 years$3,321$2,685$2,155$1,717$1,360$508
21 years$3,129$2,501$1,982$1,558$1,217$427
22 years$2,955$2,335$1,827$1,417$1,091$360
23 years$2,797$2,184$1,687$1,290$979$304
24 years$2,652$2,046$1,560$1,177$880$256
25 years$2,519$1,920$1,445$1,075$792$216
26 years$2,396$1,805$1,340$983$714$183
27 years$2,283$1,698$1,244$900$643$154
28 years$2,178$1,600$1,157$824$580$131
29 years$2,080$1,510$1,076$756$524$110
30 years$1,989$1,426$1,003$694$474$93
31 years$1,904$1,348$935$637$428$79
32 years$1,824$1,275$872$585$387$67
33 years$1,750$1,208$814$538$351$57
34 years$1,680$1,145$761$495$317$48
35 years$1,614$1,086$711$456$287$40
36 years$1,552$1,030$665$420$260$34
37 years$1,493$979$623$387$236$29
38 years$1,438$930$583$357$214$25
39 years$1,385$884$546$329$194$21
40 years$1,336$841$512$303$176$18
41 years$1,289$801$480$280$160$15
42 years$1,244$763$450$258$145$13
43 years$1,201$727$423$238$132$11
44 years$1,161$693$397$220$119$9
45 years$1,122$661$373$203$108$8
46 years$1,085$630$350$188$98$6
47 years$1,050$601$329$173$89$5
48 years$1,017$574$309$160$81$5
49 years$985$548$290$148$74$4
50 years$954$524$273$137$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $977,000, adding $4,958 every year, while hoping to spend $47,595 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: 70/8/22 Blend
70$977,000$977,000$977,000$977,000
71$1,081,768$1,029,987$1,014,844$1,151,235
72$1,141,468$1,029,816$998,200$1,198,099
73$1,205,662$1,028,041$979,404$1,243,327
74$1,274,758$1,024,534$958,333$1,291,679
75$1,349,205$1,019,157$934,858$1,343,459
76$1,429,494$1,011,767$908,847$1,399,004
77$1,516,167$1,002,208$880,158$1,458,688
78$1,609,818$990,318$848,645$1,522,922
79$1,711,100$975,924$814,156$1,592,160
80$1,820,731$958,843$776,528$1,666,904
81$1,939,500$938,881$735,596$1,747,710
82$2,068,275$915,832$691,184$1,835,188
83$2,208,009$889,478$643,109$1,930,017
84$2,359,753$859,589$591,180$2,032,942
85$2,524,659$825,920$535,197$2,144,788
86$2,703,999$788,215$474,950$2,266,466
87$2,899,170$746,200$410,224$2,398,981
88$3,111,707$699,586$340,788$2,543,443
89$3,343,303$648,068$266,407$2,701,078
90$3,595,820$591,323$186,831$2,873,237
91$3,871,305$529,009$101,801$3,061,414
92$4,172,014$460,767$11,048$3,267,258
93$4,500,430$386,214$0$3,492,586
94$4,859,284$304,949$0$3,759,547
95$5,251,585$216,546$0$4,054,293
96$5,680,646$120,556$0$4,376,744
97$6,150,113$16,504$0$4,729,673
98$6,664,002$0$0$5,116,135
99$7,226,734$0$0$5,547,958
100$7,843,180$0$0$6,022,642