Can I retire at age 71 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$82,249$81,516$80,801$80,104$79,422$77,034
2 years$40,717$39,959$39,224$38,511$37,820$35,434
3 years$26,875$26,114$25,380$24,675$23,995$21,686
4 years$19,956$19,196$18,470$17,777$17,113$14,899
5 years$15,805$15,050$14,334$13,654$13,009$10,896
6 years$13,039$12,290$11,584$10,919$10,294$8,283
7 years$11,063$10,321$9,626$8,977$8,372$6,463
8 years$9,583$8,847$8,164$7,531$6,945$5,138
9 years$8,432$7,703$7,032$6,415$5,849$4,141
10 years$7,511$6,790$6,130$5,530$4,983$3,373
11 years$6,759$6,044$5,397$4,812$4,286$2,770
12 years$6,132$5,425$4,790$4,221$3,714$2,289
13 years$5,603$4,903$4,279$3,727$3,239$1,902
14 years$5,149$4,456$3,845$3,308$2,839$1,587
15 years$4,756$4,071$3,471$2,950$2,500$1,328
16 years$4,413$3,735$3,147$2,642$2,209$1,115
17 years$4,110$3,440$2,864$2,373$1,959$938
18 years$3,841$3,179$2,614$2,139$1,742$791
19 years$3,601$2,946$2,393$1,933$1,552$668
20 years$3,385$2,737$2,197$1,750$1,387$565
21 years$3,190$2,550$2,020$1,589$1,241$478
22 years$3,013$2,380$1,862$1,444$1,112$405
23 years$2,851$2,226$1,719$1,315$998$343
24 years$2,704$2,086$1,590$1,200$897$291
25 years$2,568$1,957$1,473$1,096$808$247
26 years$2,443$1,840$1,366$1,002$727$210
27 years$2,327$1,731$1,268$917$656$179
28 years$2,220$1,631$1,179$840$592$152
29 years$2,120$1,539$1,097$770$534$129
30 years$2,027$1,453$1,022$707$483$110
31 years$1,941$1,374$953$649$437$93
32 years$1,860$1,300$889$597$395$80
33 years$1,784$1,231$830$549$357$68
34 years$1,712$1,167$776$505$324$58
35 years$1,645$1,107$725$465$293$49
36 years$1,582$1,050$678$428$266$42
37 years$1,522$998$635$394$241$36
38 years$1,466$948$595$364$218$30
39 years$1,412$902$557$335$198$26
40 years$1,362$858$522$309$179$22
41 years$1,314$817$490$285$163$19
42 years$1,268$778$459$263$148$16
43 years$1,225$741$431$243$134$14
44 years$1,183$706$404$224$122$12
45 years$1,144$674$380$207$110$10
46 years$1,107$643$357$191$100$8
47 years$1,071$613$335$177$91$7
48 years$1,036$585$315$163$83$6
49 years$1,004$559$296$151$75$5
50 years$972$534$278$140$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $996,000, adding $4,085 every year, while hoping to spend $50,760 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: 42/46/12 Blend
70$996,000$996,000$996,000$996,000
71$1,101,806$1,049,018$1,033,580$1,144,045
72$1,160,182$1,046,411$1,014,196$1,171,443
73$1,222,811$1,041,976$992,462$1,195,712
74$1,290,073$1,035,568$968,246$1,220,870
75$1,362,386$1,027,037$941,407$1,247,020
76$1,440,208$1,016,220$911,803$1,274,277
77$1,524,041$1,002,947$879,281$1,302,775
78$1,614,439$987,037$843,682$1,332,660
79$1,712,009$968,299$804,842$1,364,102
80$1,817,416$946,528$762,587$1,397,290
81$1,931,395$921,511$716,736$1,432,437
82$2,054,751$893,018$667,101$1,469,783
83$2,188,369$860,809$613,482$1,509,596
84$2,333,223$824,630$555,674$1,552,179
85$2,490,385$784,209$493,462$1,597,870
86$2,661,030$739,261$426,619$1,647,050
87$2,846,455$689,485$354,911$1,700,142
88$3,048,085$634,561$278,091$1,757,622
89$3,267,486$574,151$195,904$1,820,020
90$3,506,384$507,899$108,081$1,887,931
91$3,766,676$435,427$14,343$1,962,015
92$4,050,451$356,337$0$2,043,011
93$4,360,008$270,209$0$2,142,715
94$4,697,877$176,597$0$2,253,744
95$5,066,842$75,032$0$2,375,323
96$5,469,970$0$0$2,508,631
97$5,910,636$0$0$2,672,686
98$6,392,556$0$0$2,893,753
99$6,919,821$0$0$3,135,746
100$7,496,937$0$0$3,400,747