Can I retire at age 71 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$82,084$81,352$80,639$79,943$79,263$78,730
2 years$40,635$39,879$39,145$38,434$37,744$37,207
3 years$26,821$26,061$25,330$24,625$23,947$23,422
4 years$19,915$19,158$18,433$17,741$17,079$16,570
5 years$15,773$15,020$14,305$13,627$12,983$12,492
6 years$13,012$12,265$11,561$10,897$10,273$9,800
7 years$11,041$10,300$9,607$8,959$8,355$7,900
8 years$9,564$8,829$8,147$7,516$6,931$6,495
9 years$8,415$7,687$7,017$6,402$5,837$5,419
10 years$7,496$6,776$6,118$5,518$4,973$4,574
11 years$6,745$6,032$5,386$4,803$4,277$3,896
12 years$6,120$5,414$4,780$4,213$3,707$3,343
13 years$5,591$4,893$4,271$3,719$3,232$2,885
14 years$5,139$4,447$3,837$3,301$2,833$2,503
15 years$4,747$4,063$3,464$2,944$2,495$2,181
16 years$4,404$3,728$3,141$2,636$2,205$1,907
17 years$4,102$3,433$2,858$2,369$1,955$1,672
18 years$3,833$3,172$2,609$2,135$1,738$1,471
19 years$3,594$2,940$2,389$1,929$1,549$1,296
20 years$3,378$2,732$2,192$1,747$1,384$1,144
21 years$3,184$2,545$2,016$1,585$1,238$1,012
22 years$3,007$2,375$1,858$1,442$1,110$897
23 years$2,846$2,222$1,716$1,313$996$795
24 years$2,698$2,082$1,587$1,197$896$706
25 years$2,563$1,953$1,470$1,094$806$628
26 years$2,438$1,836$1,363$1,000$726$559
27 years$2,322$1,728$1,266$915$655$497
28 years$2,215$1,628$1,177$839$591$443
29 years$2,116$1,536$1,095$769$533$395
30 years$2,023$1,451$1,020$706$482$352
31 years$1,937$1,371$951$648$436$315
32 years$1,856$1,297$887$596$394$281
33 years$1,780$1,229$828$548$357$251
34 years$1,709$1,165$774$504$323$224
35 years$1,642$1,105$724$464$292$200
36 years$1,579$1,048$677$427$265$179
37 years$1,519$996$634$394$240$160
38 years$1,463$946$593$363$218$143
39 years$1,409$900$556$335$197$128
40 years$1,359$856$521$309$179$115
41 years$1,311$815$489$285$162$103
42 years$1,266$776$458$263$147$92
43 years$1,222$739$430$243$134$82
44 years$1,181$705$404$224$121$74
45 years$1,142$672$379$207$110$66
46 years$1,104$641$356$191$100$59
47 years$1,069$612$334$177$91$53
48 years$1,034$584$314$163$83$47
49 years$1,002$558$295$151$75$42
50 years$970$533$278$139$68$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $994,000, adding $4,096 every year, while hoping to spend $55,085 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: 41/41/18 Blend
70$994,000$994,000$994,000$994,000
71$1,099,613$1,046,931$1,031,524$1,138,709
72$1,153,164$1,039,621$1,007,470$1,159,554
73$1,210,330$1,030,106$980,764$1,176,448
74$1,271,423$1,018,220$951,259$1,193,580
75$1,336,783$1,003,788$918,801$1,211,000
76$1,406,784$986,623$883,230$1,228,765
77$1,481,835$966,526$844,377$1,246,945
78$1,562,385$943,289$802,066$1,265,620
79$1,648,927$916,689$756,115$1,284,884
80$1,742,003$886,492$706,330$1,304,845
81$1,842,206$852,449$652,511$1,325,626
82$1,950,189$814,297$594,448$1,347,371
83$2,066,670$771,759$531,923$1,370,243
84$2,192,434$724,539$464,707$1,394,429
85$2,328,348$672,327$392,560$1,420,142
86$2,475,361$614,793$315,233$1,447,624
87$2,634,521$551,590$232,465$1,477,149
88$2,806,974$482,351$143,986$1,509,027
89$2,993,986$406,686$49,509$1,543,611
90$3,196,944$324,186$0$1,581,296
91$3,417,378$234,417$0$1,632,383
92$3,656,969$136,921$0$1,698,310
93$3,917,564$31,214$0$1,770,184
94$4,201,199$0$0$1,848,704
95$4,510,112$0$0$1,972,192
96$4,846,767$0$0$2,122,234
97$5,213,874$0$0$2,285,969
98$5,614,417$0$0$2,464,745
99$6,051,681$0$0$2,660,043
100$6,529,280$0$0$2,873,494