Can I retire at age 71 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$71,183$70,549$69,930$69,327$68,737$67,048
2 years$35,239$34,583$33,947$33,330$32,732$31,041
3 years$23,259$22,600$21,966$21,355$20,766$19,126
4 years$17,271$16,614$15,986$15,385$14,811$13,234
5 years$13,678$13,025$12,405$11,817$11,259$9,749
6 years$11,284$10,636$10,025$9,450$8,909$7,468
7 years$9,575$8,932$8,331$7,770$7,245$5,874
8 years$8,294$7,657$7,065$6,518$6,011$4,708
9 years$7,297$6,666$6,086$5,552$5,062$3,827
10 years$6,501$5,876$5,305$4,786$4,313$3,145
11 years$5,850$5,231$4,671$4,165$3,709$2,606
12 years$5,307$4,695$4,145$3,653$3,214$2,173
13 years$4,849$4,243$3,704$3,225$2,803$1,823
14 years$4,456$3,857$3,328$2,863$2,457$1,535
15 years$4,116$3,523$3,004$2,553$2,163$1,298
16 years$3,819$3,233$2,724$2,286$1,912$1,101
17 years$3,557$2,977$2,479$2,054$1,695$935
18 years$3,324$2,751$2,263$1,851$1,507$797
19 years$3,117$2,550$2,071$1,673$1,344$680
20 years$2,930$2,369$1,901$1,515$1,200$581
21 years$2,761$2,207$1,749$1,375$1,074$497
22 years$2,608$2,060$1,612$1,250$963$426
23 years$2,468$1,927$1,488$1,138$864$365
24 years$2,340$1,805$1,376$1,038$777$313
25 years$2,222$1,694$1,275$948$699$269
26 years$2,114$1,592$1,182$867$630$231
27 years$2,014$1,498$1,098$794$568$199
28 years$1,921$1,412$1,020$727$512$171
29 years$1,835$1,332$950$667$462$147
30 years$1,755$1,258$885$612$418$126
31 years$1,680$1,189$825$562$378$109
32 years$1,609$1,125$769$517$342$94
33 years$1,544$1,066$718$475$309$81
34 years$1,482$1,010$671$437$280$69
35 years$1,424$958$628$402$254$60
36 years$1,369$909$587$371$230$52
37 years$1,317$863$549$341$208$44
38 years$1,269$821$515$315$189$38
39 years$1,222$780$482$290$171$33
40 years$1,178$742$452$268$155$28
41 years$1,137$707$424$247$141$24
42 years$1,097$673$397$228$128$21
43 years$1,060$641$373$210$116$18
44 years$1,024$611$350$194$105$16
45 years$990$583$329$179$96$14
46 years$958$556$309$166$87$12
47 years$927$531$290$153$79$10
48 years$897$507$273$141$72$9
49 years$869$484$256$131$65$7
50 years$842$462$241$121$59$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $862,000, adding $6,919 every year, while hoping to spend $49,966 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: 62/15/23 Blend
70$862,000$862,000$862,000$862,000
71$957,061$911,375$898,014$1,010,211
72$1,001,518$902,869$874,934$1,038,482
73$1,048,834$892,271$849,406$1,063,206
74$1,099,250$879,427$821,296$1,089,084
75$1,153,026$864,172$790,462$1,116,236
76$1,210,450$846,331$756,757$1,144,795
77$1,271,835$825,720$720,027$1,174,910
78$1,337,525$802,144$680,112$1,206,748
79$1,407,899$775,395$636,842$1,240,493
80$1,483,370$745,255$590,041$1,276,354
81$1,564,393$711,492$539,527$1,314,560
82$1,651,467$673,860$485,107$1,355,368
83$1,745,138$632,101$426,580$1,399,064
84$1,846,008$585,941$363,736$1,445,966
85$1,954,738$535,088$296,358$1,496,427
86$2,072,052$479,238$224,217$1,550,840
87$2,198,746$418,066$147,073$1,609,642
88$2,335,697$351,230$64,679$1,673,319
89$2,483,866$278,368$0$1,742,409
90$2,644,311$199,099$0$1,823,216
91$2,818,195$113,019$0$1,928,010
92$3,006,796$19,702$0$2,041,705
93$3,211,520$0$0$2,165,191
94$3,433,915$0$0$2,312,871
95$3,675,680$0$0$2,477,005
96$3,938,688$0$0$2,655,620
97$4,224,997$0$0$2,850,121
98$4,536,874$0$0$3,062,056
99$4,876,811$0$0$3,293,127
100$5,247,553$0$0$3,545,207