Can I retire at age 71 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$80,845$80,125$79,422$78,736$78,067$77,607
2 years$40,022$39,277$38,554$37,854$37,175$36,711
3 years$26,416$25,668$24,947$24,253$23,585$23,132
4 years$19,615$18,869$18,155$17,473$16,821$16,382
5 years$15,535$14,793$14,089$13,421$12,787$12,363
6 years$12,816$12,080$11,386$10,733$10,118$9,709
7 years$10,875$10,145$9,462$8,824$8,229$7,836
8 years$9,419$8,696$8,024$7,402$6,826$6,449
9 years$8,288$7,571$6,911$6,305$5,749$5,387
10 years$7,383$6,674$6,026$5,435$4,898$4,552
11 years$6,644$5,941$5,305$4,730$4,213$3,882
12 years$6,028$5,332$4,708$4,149$3,651$3,335
13 years$5,507$4,819$4,206$3,663$3,183$2,883
14 years$5,061$4,380$3,779$3,252$2,791$2,504
15 years$4,675$4,002$3,412$2,900$2,457$2,185
16 years$4,337$3,671$3,094$2,596$2,172$1,913
17 years$4,040$3,381$2,815$2,333$1,925$1,680
18 years$3,776$3,124$2,570$2,102$1,712$1,479
19 years$3,540$2,896$2,353$1,900$1,526$1,305
20 years$3,327$2,691$2,159$1,721$1,363$1,154
21 years$3,136$2,506$1,986$1,562$1,220$1,023
22 years$2,961$2,340$1,830$1,420$1,093$907
23 years$2,803$2,188$1,690$1,293$981$806
24 years$2,657$2,050$1,563$1,179$882$717
25 years$2,524$1,924$1,448$1,077$794$638
26 years$2,401$1,808$1,343$985$715$569
27 years$2,287$1,702$1,247$901$645$507
28 years$2,182$1,604$1,159$826$582$453
29 years$2,084$1,513$1,079$757$525$404
30 years$1,993$1,429$1,005$695$475$361
31 years$1,908$1,351$937$638$429$323
32 years$1,828$1,278$874$587$388$289
33 years$1,753$1,210$816$539$351$258
34 years$1,683$1,147$762$496$318$231
35 years$1,617$1,088$713$457$288$207
36 years$1,555$1,033$667$421$261$185
37 years$1,496$981$624$388$237$166
38 years$1,441$932$584$357$214$149
39 years$1,388$886$548$330$194$133
40 years$1,338$843$513$304$176$119
41 years$1,291$803$481$280$160$107
42 years$1,246$764$451$259$145$96
43 years$1,204$728$424$239$132$86
44 years$1,163$694$398$221$120$77
45 years$1,125$662$373$204$109$69
46 years$1,088$632$351$188$99$62
47 years$1,052$603$329$174$90$56
48 years$1,019$575$310$161$81$50
49 years$987$549$291$148$74$45
50 years$956$525$274$137$67$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $979,000, adding $4,662 every year, while hoping to spend $29,601 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: 83/10/7 Blend
70$979,000$979,000$979,000$979,000
71$1,083,667$1,031,780$1,016,605$1,172,525
72$1,162,706$1,050,842$1,019,166$1,250,340
73$1,248,814$1,069,846$1,020,821$1,331,304
74$1,342,683$1,088,758$1,021,508$1,419,290
75$1,445,070$1,107,540$1,021,162$1,514,982
76$1,556,812$1,126,155$1,019,716$1,619,136
77$1,678,829$1,144,558$1,017,098$1,732,584
78$1,812,132$1,162,705$1,013,234$1,856,242
79$1,957,838$1,180,545$1,008,046$1,991,119
80$2,117,173$1,198,028$1,001,451$2,138,326
81$2,291,489$1,215,095$993,364$2,299,088
82$2,482,273$1,231,687$983,694$2,474,753
83$2,691,165$1,247,740$972,347$2,666,805
84$2,919,968$1,263,183$959,225$2,876,881
85$3,170,670$1,277,944$944,224$3,106,783
86$3,445,458$1,291,944$927,236$3,358,497
87$3,746,743$1,305,097$908,147$3,634,210
88$4,077,180$1,317,316$886,839$3,936,333
89$4,439,692$1,328,504$863,187$4,267,520
90$4,837,499$1,338,559$837,062$4,630,697
91$5,274,148$1,347,373$808,328$5,029,088
92$5,753,547$1,354,830$776,843$5,466,244
93$6,280,001$1,360,808$742,459$5,946,079
94$6,858,249$1,365,176$705,020$6,472,905
95$7,493,516$1,367,796$664,364$7,051,472
96$8,191,556$1,368,519$620,321$7,687,017
97$8,958,707$1,367,189$572,715$8,385,308
98$9,801,954$1,363,640$521,359$9,152,702
99$10,728,990$1,357,694$466,061$9,996,204
100$11,748,291$1,349,166$406,618$10,923,534