Can I retire at age 71 with 993,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$82,001$81,271$80,558$79,862$79,183$77,019
2 years$40,595$39,839$39,106$38,395$37,706$35,542
3 years$26,794$26,035$25,304$24,600$23,922$21,825
4 years$19,895$19,138$18,415$17,723$17,062$15,048
5 years$15,757$15,005$14,291$13,613$12,970$11,045
6 years$12,999$12,253$11,549$10,886$10,263$8,429
7 years$11,030$10,290$9,597$8,950$8,346$6,603
8 years$9,554$8,820$8,139$7,508$6,924$5,271
9 years$8,406$7,680$7,010$6,395$5,831$4,267
10 years$7,489$6,769$6,112$5,513$4,968$3,490
11 years$6,739$6,026$5,381$4,798$4,273$2,879
12 years$6,114$5,409$4,775$4,208$3,703$2,391
13 years$5,586$4,888$4,266$3,715$3,229$1,995
14 years$5,133$4,443$3,833$3,298$2,831$1,673
15 years$4,742$4,059$3,461$2,941$2,492$1,407
16 years$4,399$3,724$3,138$2,634$2,203$1,187
17 years$4,098$3,429$2,855$2,366$1,953$1,004
18 years$3,830$3,169$2,607$2,132$1,737$851
19 years$3,590$2,937$2,386$1,927$1,548$722
20 years$3,375$2,729$2,190$1,745$1,383$614
21 years$3,180$2,542$2,014$1,584$1,237$523
22 years$3,004$2,373$1,857$1,440$1,109$445
23 years$2,843$2,219$1,714$1,312$995$380
24 years$2,695$2,079$1,585$1,196$895$324
25 years$2,560$1,951$1,468$1,092$805$277
26 years$2,435$1,834$1,362$999$725$236
27 years$2,320$1,726$1,265$914$654$202
28 years$2,213$1,626$1,176$838$590$173
29 years$2,114$1,534$1,094$768$533$148
30 years$2,021$1,449$1,019$705$481$126
31 years$1,935$1,370$950$647$435$108
32 years$1,854$1,296$886$595$394$93
33 years$1,778$1,227$828$547$356$79
34 years$1,707$1,163$773$503$323$68
35 years$1,640$1,103$723$463$292$58
36 years$1,577$1,047$676$427$265$50
37 years$1,518$995$633$393$240$43
38 years$1,461$945$593$362$218$36
39 years$1,408$899$555$334$197$31
40 years$1,358$855$521$308$179$27
41 years$1,310$814$488$284$162$23
42 years$1,264$775$458$262$147$20
43 years$1,221$739$430$242$134$17
44 years$1,180$704$403$224$121$14
45 years$1,141$671$379$207$110$12
46 years$1,103$641$356$191$100$11
47 years$1,067$611$334$176$91$9
48 years$1,033$584$314$163$82$8
49 years$1,001$557$295$151$75$7
50 years$970$532$277$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $993,000, adding $2,071 every year, while hoping to spend $32,416 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: 76/10/14 Blend
70$993,000$993,000$993,000$993,000
71$1,096,422$1,043,793$1,028,402$1,176,383
72$1,173,767$1,060,449$1,028,363$1,246,093
73$1,257,914$1,076,834$1,027,236$1,318,218
74$1,349,524$1,092,901$1,024,951$1,396,396
75$1,449,322$1,108,600$1,021,433$1,481,217
76$1,558,107$1,123,876$1,016,606$1,573,334
77$1,676,758$1,138,670$1,010,386$1,673,466
78$1,806,243$1,152,920$1,002,690$1,782,404
79$1,947,627$1,166,560$993,427$1,901,020
80$2,102,082$1,179,518$982,503$2,030,276
81$2,270,899$1,191,719$969,822$2,171,230
82$2,455,499$1,203,082$955,279$2,325,049
83$2,657,446$1,213,520$938,768$2,493,019
84$2,878,465$1,222,941$920,175$2,676,557
85$3,120,450$1,231,248$899,384$2,877,226
86$3,385,493$1,238,335$876,269$3,096,745
87$3,675,892$1,244,093$850,704$3,337,011
88$3,994,183$1,248,403$822,552$3,600,115
89$4,343,154$1,251,139$791,672$3,888,360
90$4,725,880$1,252,169$757,917$4,204,285
91$5,145,745$1,251,351$721,132$4,550,688
92$5,606,478$1,248,534$681,157$4,930,652
93$6,112,185$1,243,558$637,823$5,347,576
94$6,667,391$1,236,256$590,952$5,805,205
95$7,277,078$1,226,445$540,363$6,307,669
96$7,946,736$1,213,937$485,861$6,859,516
97$8,682,412$1,198,530$427,247$7,465,762
98$9,490,768$1,180,008$364,309$8,131,932
99$10,379,144$1,158,145$296,831$8,864,119
100$11,355,623$1,132,700$224,581$9,669,036