Can I retire at age 71 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$81,671$80,943$80,233$79,541$78,864$76,554
2 years$40,431$39,678$38,948$38,241$37,554$35,246
3 years$26,686$25,930$25,202$24,501$23,826$21,592
4 years$19,815$19,061$18,341$17,652$16,993$14,849
5 years$15,694$14,944$14,233$13,558$12,918$10,871
6 years$12,947$12,203$11,502$10,843$10,221$8,273
7 years$10,986$10,248$9,559$8,914$8,313$6,463
8 years$9,515$8,785$8,106$7,478$6,896$5,144
9 years$8,373$7,649$6,982$6,370$5,808$4,151
10 years$7,459$6,742$6,087$5,491$4,948$3,385
11 years$6,712$6,002$5,359$4,779$4,256$2,783
12 years$6,089$5,387$4,756$4,191$3,688$2,303
13 years$5,563$4,868$4,249$3,700$3,216$1,916
14 years$5,113$4,425$3,818$3,285$2,819$1,601
15 years$4,723$4,042$3,447$2,929$2,482$1,342
16 years$4,382$3,709$3,125$2,623$2,194$1,128
17 years$4,081$3,416$2,844$2,357$1,945$951
18 years$3,814$3,156$2,596$2,124$1,730$803
19 years$3,576$2,925$2,377$1,919$1,542$679
20 years$3,361$2,718$2,181$1,738$1,377$575
21 years$3,168$2,532$2,006$1,577$1,232$487
22 years$2,992$2,363$1,849$1,434$1,104$414
23 years$2,831$2,210$1,707$1,306$991$351
24 years$2,685$2,071$1,579$1,191$891$299
25 years$2,550$1,944$1,462$1,088$802$254
26 years$2,426$1,827$1,356$995$722$216
27 years$2,311$1,719$1,259$911$651$184
28 years$2,204$1,620$1,171$834$588$157
29 years$2,105$1,528$1,090$765$531$133
30 years$2,013$1,443$1,015$702$479$114
31 years$1,927$1,364$946$645$433$97
32 years$1,847$1,291$883$593$392$83
33 years$1,771$1,223$824$545$355$70
34 years$1,700$1,159$770$501$321$60
35 years$1,634$1,099$720$462$291$51
36 years$1,571$1,043$674$425$264$44
37 years$1,511$991$630$392$239$37
38 years$1,455$942$590$361$217$32
39 years$1,402$895$553$333$196$27
40 years$1,352$852$518$307$178$23
41 years$1,304$811$486$283$162$20
42 years$1,259$772$456$261$147$17
43 years$1,216$736$428$241$133$14
44 years$1,175$701$402$223$121$12
45 years$1,136$669$377$206$110$10
46 years$1,099$638$354$190$100$9
47 years$1,063$609$333$176$90$8
48 years$1,029$581$313$162$82$6
49 years$997$555$294$150$75$6
50 years$966$530$276$139$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $989,000, adding $5,845 every year, while hoping to spend $33,736 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: 46/26/28 Blend
70$989,000$989,000$989,000$989,000
71$1,095,907$1,043,490$1,028,161$1,137,252
72$1,171,795$1,058,726$1,026,709$1,182,351
73$1,254,292$1,073,578$1,024,078$1,227,538
74$1,344,038$1,087,992$1,020,193$1,275,919
75$1,441,735$1,101,909$1,014,975$1,327,812
76$1,548,157$1,115,266$1,008,341$1,383,568
77$1,664,153$1,127,998$1,000,204$1,443,576
78$1,790,660$1,140,034$990,475$1,508,263
79$1,928,709$1,151,298$979,058$1,578,105
80$2,079,435$1,161,708$965,853$1,653,626
81$2,244,085$1,171,180$950,757$1,735,405
82$2,424,035$1,179,621$933,661$1,824,084
83$2,620,798$1,186,934$914,450$1,920,368
84$2,836,040$1,193,015$893,005$2,025,041
85$3,071,597$1,197,753$869,201$2,138,967
86$3,329,488$1,201,031$842,907$2,263,099
87$3,611,938$1,202,724$813,988$2,398,493
88$3,921,398$1,202,700$782,299$2,546,312
89$4,260,566$1,200,818$747,691$2,707,843
90$4,632,414$1,196,927$710,008$2,884,506
91$5,040,213$1,190,870$669,087$3,077,871
92$5,487,570$1,182,478$624,757$3,289,668
93$5,978,455$1,171,573$576,839$3,521,812
94$6,517,242$1,157,964$525,147$3,776,413
95$7,108,748$1,141,451$469,487$4,055,803
96$7,758,280$1,121,822$409,654$4,362,555
97$8,471,684$1,098,851$345,437$4,699,510
98$9,255,400$1,072,299$276,614$5,069,803
99$10,116,523$1,041,914$202,952$5,476,895
100$11,062,868$1,007,427$124,211$5,924,605