Can I retire at age 71 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$81,423$80,698$79,990$79,299$78,625$78,228
2 years$40,308$39,558$38,830$38,125$37,440$37,040
3 years$26,605$25,851$25,126$24,427$23,754$23,362
4 years$19,755$19,004$18,285$17,598$16,941$16,561
5 years$15,646$14,899$14,190$13,517$12,879$12,511
6 years$12,908$12,166$11,468$10,810$10,190$9,836
7 years$10,952$10,217$9,530$8,887$8,288$7,947
8 years$9,487$8,758$8,082$7,455$6,875$6,548
9 years$8,347$7,625$6,961$6,350$5,790$5,477
10 years$7,436$6,721$6,069$5,474$4,933$4,633
11 years$6,691$5,984$5,343$4,764$4,243$3,956
12 years$6,071$5,371$4,742$4,179$3,677$3,403
13 years$5,546$4,853$4,236$3,689$3,206$2,945
14 years$5,097$4,412$3,806$3,275$2,811$2,562
15 years$4,708$4,030$3,437$2,921$2,475$2,238
16 years$4,368$3,698$3,116$2,615$2,187$1,962
17 years$4,069$3,405$2,835$2,350$1,939$1,725
18 years$3,803$3,147$2,588$2,117$1,724$1,521
19 years$3,565$2,916$2,369$1,913$1,537$1,345
20 years$3,351$2,710$2,174$1,733$1,373$1,191
21 years$3,158$2,524$2,000$1,573$1,228$1,056
22 years$2,983$2,356$1,843$1,430$1,101$939
23 years$2,823$2,204$1,702$1,302$988$835
24 years$2,676$2,065$1,574$1,188$888$744
25 years$2,542$1,938$1,458$1,085$799$663
26 years$2,418$1,821$1,352$992$720$592
27 years$2,304$1,714$1,256$908$649$529
28 years$2,198$1,615$1,167$832$586$473
29 years$2,099$1,524$1,086$763$529$423
30 years$2,007$1,439$1,012$700$478$378
31 years$1,921$1,360$943$643$432$339
32 years$1,841$1,287$880$591$391$303
33 years$1,766$1,219$822$543$354$272
34 years$1,695$1,155$768$500$320$244
35 years$1,629$1,096$718$460$290$219
36 years$1,566$1,040$672$424$263$196
37 years$1,507$988$629$391$238$176
38 years$1,451$939$589$360$216$158
39 years$1,398$893$551$332$196$142
40 years$1,348$849$517$306$178$127
41 years$1,300$808$485$282$161$114
42 years$1,255$770$455$261$146$103
43 years$1,212$734$427$241$133$92
44 years$1,172$699$400$222$120$83
45 years$1,133$667$376$205$109$74
46 years$1,095$636$353$190$99$67
47 years$1,060$607$332$175$90$60
48 years$1,026$579$312$162$82$54
49 years$994$553$293$150$74$49
50 years$963$529$276$138$68$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $986,000, adding $5,369 every year, while hoping to spend $53,346 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: 80/8/12 Blend
70$986,000$986,000$986,000$986,000
71$1,092,110$1,039,852$1,024,569$1,176,640
72$1,146,746$1,034,045$1,002,132$1,227,115
73$1,205,166$1,026,166$977,156$1,275,019
74$1,267,701$1,016,056$949,499$1,326,037
75$1,334,712$1,003,548$919,013$1,380,454
76$1,406,596$988,466$885,543$1,438,586
77$1,483,789$970,620$848,929$1,500,781
78$1,566,767$949,812$808,999$1,567,423
79$1,656,055$925,831$765,579$1,638,935
80$1,752,229$898,453$718,482$1,715,783
81$1,855,921$867,442$667,516$1,798,480
82$1,967,827$832,548$612,479$1,887,593
83$2,088,708$793,506$553,161$1,983,748
84$2,219,405$750,037$489,340$2,087,633
85$2,360,839$701,843$420,788$2,200,007
86$2,514,024$648,612$347,263$2,321,708
87$2,680,073$590,013$268,515$2,453,660
88$2,860,212$525,695$184,282$2,596,881
89$3,055,788$455,289$94,290$2,752,495
90$3,268,284$378,404$0$2,921,740
91$3,499,330$294,627$0$3,106,207
92$3,750,720$203,522$0$3,320,075
93$4,024,427$104,628$0$3,552,962
94$4,322,623$0$0$3,806,739
95$4,647,697$0$0$4,083,695
96$5,002,281$0$0$4,395,864
97$5,389,268$0$0$4,736,586
98$5,811,845$0$0$5,108,671
99$6,273,521$0$0$5,515,210
100$6,778,158$0$0$5,959,609