Can I retire at age 71 with 848,000?

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 $848,000?

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$70,027$69,403$68,795$68,201$67,621$65,587
2 years$34,667$34,021$33,395$32,789$32,200$30,169
3 years$22,882$22,233$21,609$21,008$20,429$18,464
4 years$16,990$16,344$15,726$15,135$14,570$12,685
5 years$13,456$12,814$12,204$11,625$11,076$9,277
6 years$11,101$10,463$9,863$9,297$8,764$7,052
7 years$9,419$8,787$8,196$7,643$7,128$5,503
8 years$8,159$7,532$6,951$6,412$5,913$4,375
9 years$7,179$6,558$5,987$5,461$4,980$3,526
10 years$6,395$5,781$5,219$4,708$4,243$2,872
11 years$5,755$5,146$4,595$4,097$3,649$2,358
12 years$5,221$4,619$4,078$3,594$3,162$1,949
13 years$4,770$4,174$3,643$3,173$2,757$1,619
14 years$4,384$3,794$3,274$2,816$2,417$1,351
15 years$4,049$3,466$2,956$2,512$2,128$1,131
16 years$3,757$3,180$2,680$2,249$1,881$949
17 years$3,499$2,929$2,438$2,021$1,668$799
18 years$3,270$2,706$2,226$1,821$1,483$673
19 years$3,066$2,508$2,038$1,646$1,322$569
20 years$2,882$2,331$1,870$1,490$1,181$481
21 years$2,716$2,171$1,720$1,353$1,057$407
22 years$2,565$2,026$1,585$1,230$947$345
23 years$2,428$1,895$1,464$1,120$850$292
24 years$2,302$1,776$1,354$1,022$764$248
25 years$2,186$1,667$1,254$933$688$211
26 years$2,080$1,566$1,163$853$619$179
27 years$1,981$1,474$1,080$781$558$152
28 years$1,890$1,389$1,004$715$504$129
29 years$1,805$1,310$934$656$455$110
30 years$1,726$1,237$870$602$411$94
31 years$1,652$1,170$811$553$372$80
32 years$1,583$1,107$757$508$336$68
33 years$1,519$1,048$707$467$304$58
34 years$1,458$993$660$430$275$49
35 years$1,401$942$617$396$250$42
36 years$1,347$894$578$365$226$36
37 years$1,296$849$541$336$205$30
38 years$1,248$807$506$310$186$26
39 years$1,202$768$474$285$168$22
40 years$1,159$730$445$263$153$19
41 years$1,118$695$417$243$139$16
42 years$1,080$662$391$224$126$14
43 years$1,043$631$367$207$114$12
44 years$1,008$601$344$191$104$10
45 years$974$573$323$176$94$8
46 years$942$547$304$163$85$7
47 years$912$522$285$151$78$6
48 years$882$498$268$139$70$5
49 years$855$476$252$129$64$4
50 years$828$455$237$119$58$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $848,000, adding $5,035 every year, while hoping to spend $54,587 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: 64/14/22 Blend
70$848,000$848,000$848,000$848,000
71$939,690$894,746$881,602$994,183
72$977,458$880,508$853,055$1,017,270
73$1,017,249$863,743$821,723$1,035,893
74$1,059,211$844,270$787,454$1,054,987
75$1,103,508$821,896$750,090$1,074,602
76$1,150,314$796,417$709,467$1,094,795
77$1,199,823$767,619$665,411$1,115,631
78$1,252,247$735,273$617,744$1,137,185
79$1,307,813$699,139$566,275$1,159,542
80$1,366,774$658,961$510,810$1,182,795
81$1,429,405$614,470$451,142$1,207,052
82$1,496,005$565,380$387,056$1,232,436
83$1,566,904$511,390$318,328$1,259,082
84$1,642,461$452,181$244,725$1,287,145
85$1,723,070$387,416$166,002$1,316,798
86$1,809,164$316,740$81,903$1,348,234
87$1,901,214$239,776$0$1,381,673
88$1,999,741$156,128$0$1,419,201
89$2,105,312$65,376$0$1,479,886
90$2,218,552$0$0$1,544,858
91$2,340,146$0$0$1,619,601
92$2,470,843$0$0$1,710,807
93$2,611,470$0$0$1,808,986
94$2,762,932$0$0$1,914,775
95$2,926,223$0$0$2,028,874
96$3,102,437$0$0$2,152,054
97$3,292,773$0$0$2,285,159
98$3,498,551$0$0$2,429,119
99$3,721,220$0$0$2,584,956
100$3,962,375$0$0$2,753,792