Can I retire at age 71 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$82,414$81,680$80,964$80,265$79,582$78,328
2 years$40,799$40,039$39,303$38,589$37,896$36,636
3 years$26,929$26,166$25,431$24,724$24,043$22,816
4 years$19,996$19,235$18,508$17,812$17,148$15,963
5 years$15,837$15,080$14,363$13,682$13,035$11,897
6 years$13,065$12,314$11,607$10,941$10,314$9,223
7 years$11,086$10,341$9,646$8,995$8,388$7,345
8 years$9,602$8,865$8,180$7,546$6,959$5,963
9 years$8,449$7,718$7,046$6,428$5,860$4,911
10 years$7,527$6,803$6,143$5,541$4,993$4,090
11 years$6,773$6,056$5,408$4,822$4,294$3,437
12 years$6,145$5,436$4,799$4,230$3,722$2,908
13 years$5,614$4,913$4,288$3,734$3,245$2,474
14 years$5,159$4,465$3,853$3,315$2,845$2,116
15 years$4,766$4,079$3,478$2,956$2,505$1,816
16 years$4,422$3,743$3,154$2,647$2,214$1,564
17 years$4,118$3,447$2,870$2,378$1,963$1,351
18 years$3,849$3,185$2,620$2,143$1,745$1,169
19 years$3,608$2,952$2,398$1,937$1,556$1,014
20 years$3,392$2,743$2,201$1,754$1,389$881
21 years$3,196$2,555$2,024$1,592$1,243$767
22 years$3,019$2,385$1,866$1,447$1,115$668
23 years$2,857$2,231$1,723$1,318$1,000$583
24 years$2,709$2,090$1,593$1,202$899$509
25 years$2,573$1,961$1,476$1,098$809$444
26 years$2,448$1,843$1,369$1,004$729$389
27 years$2,332$1,735$1,271$919$657$340
28 years$2,224$1,635$1,181$842$593$298
29 years$2,124$1,542$1,099$772$535$261
30 years$2,031$1,456$1,024$709$484$228
31 years$1,945$1,377$955$651$437$200
32 years$1,863$1,303$891$598$396$175
33 years$1,787$1,234$832$550$358$154
34 years$1,716$1,169$777$506$324$135
35 years$1,648$1,109$727$466$294$118
36 years$1,585$1,053$680$429$266$104
37 years$1,525$1,000$636$395$241$91
38 years$1,469$950$596$364$219$80
39 years$1,415$903$558$336$198$70
40 years$1,364$860$523$310$180$62
41 years$1,316$818$491$286$163$54
42 years$1,271$779$460$264$148$48
43 years$1,227$742$432$244$134$42
44 years$1,186$708$405$225$122$37
45 years$1,146$675$381$208$111$32
46 years$1,109$644$357$192$101$28
47 years$1,073$614$336$177$91$25
48 years$1,039$587$316$164$83$22
49 years$1,006$560$297$151$75$19
50 years$974$535$279$140$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $998,000, adding $3,358 every year, while hoping to spend $36,911 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: 80/14/6 Blend
70$998,000$998,000$998,000$998,000
71$1,103,260$1,050,366$1,034,897$1,190,751
72$1,176,519$1,062,561$1,030,293$1,260,709
73$1,256,014$1,074,116$1,024,297$1,332,228
74$1,342,341$1,084,962$1,016,825$1,409,579
75$1,436,158$1,095,022$1,007,786$1,493,324
76$1,538,186$1,104,218$997,087$1,584,082
77$1,649,220$1,112,464$984,629$1,682,535
78$1,770,135$1,119,670$970,309$1,789,434
79$1,901,893$1,125,738$954,019$1,905,608
80$2,045,554$1,130,567$935,646$2,031,968
81$2,202,283$1,134,047$915,072$2,169,519
82$2,373,362$1,136,061$892,174$2,319,367
83$2,560,205$1,136,488$866,821$2,482,730
84$2,764,365$1,135,196$838,879$2,660,953
85$2,987,555$1,132,045$808,206$2,855,515
86$3,231,659$1,126,889$774,655$3,068,047
87$3,498,752$1,119,570$738,069$3,300,345
88$3,791,119$1,109,923$698,288$3,554,390
89$4,111,275$1,097,770$655,143$3,832,363
90$4,461,990$1,082,927$608,456$4,136,669
91$4,846,317$1,065,194$558,043$4,469,957
92$5,267,615$1,044,363$503,711$4,835,147
93$5,729,586$1,020,210$445,259$5,235,456
94$6,236,304$992,501$382,476$5,674,431
95$6,792,260$960,986$315,142$6,155,980
96$7,402,399$925,403$243,028$6,684,409
97$8,072,168$885,472$165,893$7,264,466
98$8,807,568$840,899$83,489$7,901,381
99$9,615,207$791,370$0$8,600,920
100$10,502,367$736,556$0$9,369,721