Can I retire at age 71 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$81,010$80,288$79,584$78,897$78,226$75,601
2 years$40,104$39,357$38,633$37,931$37,251$34,632
3 years$26,470$25,720$24,998$24,303$23,633$21,103
4 years$19,655$18,907$18,192$17,509$16,855$14,433
5 years$15,567$14,823$14,118$13,449$12,813$10,505
6 years$12,842$12,104$11,409$10,755$10,139$7,947
7 years$10,897$10,165$9,481$8,842$8,245$6,169
8 years$9,438$8,714$8,041$7,418$6,840$4,878
9 years$8,305$7,587$6,926$6,318$5,761$3,910
10 years$7,398$6,687$6,038$5,446$4,908$3,167
11 years$6,657$5,953$5,316$4,740$4,221$2,586
12 years$6,040$5,343$4,718$4,157$3,658$2,124
13 years$5,518$4,829$4,215$3,670$3,190$1,754
14 years$5,071$4,389$3,787$3,258$2,796$1,454
15 years$4,684$4,010$3,419$2,906$2,462$1,210
16 years$4,346$3,679$3,100$2,602$2,176$1,009
17 years$4,048$3,388$2,821$2,338$1,929$843
18 years$3,783$3,131$2,575$2,107$1,716$706
19 years$3,547$2,902$2,357$1,904$1,529$592
20 years$3,334$2,696$2,163$1,724$1,366$497
21 years$3,142$2,511$1,990$1,565$1,222$418
22 years$2,968$2,344$1,834$1,423$1,096$352
23 years$2,808$2,193$1,693$1,296$983$296
24 years$2,663$2,054$1,566$1,182$884$250
25 years$2,529$1,928$1,451$1,079$795$210
26 years$2,406$1,812$1,345$987$716$177
27 years$2,292$1,705$1,249$903$646$150
28 years$2,186$1,607$1,161$828$583$126
29 years$2,088$1,516$1,081$759$526$107
30 years$1,997$1,432$1,007$696$476$90
31 years$1,912$1,353$938$640$430$76
32 years$1,832$1,280$876$588$389$64
33 years$1,757$1,213$818$541$352$54
34 years$1,687$1,149$764$497$319$46
35 years$1,620$1,090$714$458$289$39
36 years$1,558$1,035$668$422$262$33
37 years$1,499$983$625$389$237$28
38 years$1,444$934$586$358$215$23
39 years$1,391$888$549$330$195$20
40 years$1,341$845$514$305$177$17
41 years$1,294$804$482$281$160$14
42 years$1,249$766$452$259$146$12
43 years$1,206$730$424$239$132$10
44 years$1,166$696$398$221$120$9
45 years$1,127$663$374$204$109$7
46 years$1,090$633$351$189$99$6
47 years$1,055$604$330$174$90$5
48 years$1,021$577$310$161$81$4
49 years$989$551$292$149$74$4
50 years$958$526$274$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $981,000, adding $4,713 every year, while hoping to spend $54,309 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: 31/43/26 Blend
70$981,000$981,000$981,000$981,000
71$1,085,923$1,033,930$1,018,725$1,110,791
72$1,138,903$1,026,809$995,068$1,123,167
73$1,195,467$1,017,518$968,798$1,131,353
74$1,255,922$1,005,894$939,771$1,139,078
75$1,320,608$991,764$907,834$1,146,339
76$1,389,893$974,944$872,830$1,153,138
77$1,464,185$955,239$834,593$1,159,481
78$1,543,929$932,443$792,949$1,165,381
79$1,629,615$906,338$747,718$1,170,858
80$1,721,779$876,692$698,710$1,175,941
81$1,821,011$843,260$645,727$1,180,667
82$1,927,959$805,784$588,563$1,185,085
83$2,043,333$763,990$527,002$1,189,257
84$2,167,915$717,587$460,819$1,193,259
85$2,302,563$666,270$389,777$1,197,183
86$2,448,221$609,714$313,632$1,201,138
87$2,605,927$547,578$232,126$1,205,257
88$2,776,820$479,497$144,991$1,209,692
89$2,962,155$405,092$51,947$1,214,626
90$3,163,310$323,956$0$1,220,268
91$3,381,801$235,664$0$1,239,998
92$3,619,298$139,765$0$1,277,193
93$3,877,635$35,782$0$1,317,841
94$4,158,831$0$0$1,362,403
95$4,465,107$0$0$1,447,731
96$4,798,909$0$0$1,559,319
97$5,162,928$0$0$1,681,152
98$5,560,124$0$0$1,814,240
99$5,993,757$0$0$1,959,694
100$6,467,415$0$0$2,118,736