Can I retire at age 71 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$72,917$72,268$71,634$71,016$70,412$69,245
2 years$36,098$35,425$34,774$34,142$33,529$32,358
3 years$23,826$23,151$22,501$21,875$21,272$20,132
4 years$17,691$17,018$16,375$15,760$15,172$14,071
5 years$14,012$13,343$12,708$12,105$11,533$10,476
6 years$11,559$10,895$10,270$9,681$9,126$8,113
7 years$9,808$9,150$8,534$7,959$7,422$6,453
8 years$8,496$7,843$7,238$6,677$6,157$5,233
9 years$7,475$6,829$6,234$5,687$5,185$4,305
10 years$6,659$6,019$5,435$4,902$4,418$3,581
11 years$5,992$5,359$4,785$4,266$3,800$3,005
12 years$5,437$4,810$4,246$3,742$3,293$2,539
13 years$4,967$4,346$3,794$3,304$2,871$2,158
14 years$4,565$3,951$3,409$2,933$2,517$1,843
15 years$4,216$3,609$3,078$2,615$2,216$1,579
16 years$3,912$3,311$2,790$2,342$1,959$1,358
17 years$3,644$3,050$2,539$2,104$1,737$1,171
18 years$3,405$2,818$2,318$1,896$1,544$1,012
19 years$3,192$2,612$2,122$1,713$1,376$877
20 years$3,001$2,427$1,947$1,552$1,229$761
21 years$2,828$2,261$1,791$1,408$1,100$661
22 years$2,671$2,110$1,651$1,281$986$575
23 years$2,528$1,974$1,524$1,166$885$501
24 years$2,397$1,849$1,410$1,064$796$436
25 years$2,277$1,735$1,306$971$716$381
26 years$2,166$1,631$1,211$888$645$332
27 years$2,063$1,535$1,124$813$581$290
28 years$1,968$1,446$1,045$745$525$254
29 years$1,880$1,364$973$683$474$222
30 years$1,797$1,289$906$627$428$194
31 years$1,721$1,218$845$576$387$170
32 years$1,649$1,153$788$529$350$149
33 years$1,581$1,092$736$487$317$130
34 years$1,518$1,034$688$448$287$114
35 years$1,459$981$643$412$260$100
36 years$1,402$931$601$380$235$87
37 years$1,349$885$563$350$213$77
38 years$1,299$841$527$322$193$67
39 years$1,252$799$494$297$175$59
40 years$1,207$761$463$274$159$52
41 years$1,165$724$434$253$144$45
42 years$1,124$689$407$233$131$40
43 years$1,086$657$382$215$119$35
44 years$1,049$626$359$199$108$30
45 years$1,014$597$337$184$98$27
46 years$981$570$316$170$89$23
47 years$949$544$297$157$81$21
48 years$919$519$279$145$73$18
49 years$890$496$262$134$67$16
50 years$862$473$247$124$60$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $883,000, adding $5,292 every year, while hoping to spend $55,435 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: 35/41/24 Blend
70$883,000$883,000$883,000$883,000
71$978,525$931,726$918,039$1,005,505
72$1,019,352$918,398$889,811$1,012,631
73$1,062,485$902,559$858,779$1,014,877
74$1,108,102$884,028$824,792$1,016,193
75$1,156,395$862,611$787,689$1,016,532
76$1,207,574$838,106$747,303$1,015,846
77$1,261,871$810,297$703,462$1,014,087
78$1,319,536$778,956$655,982$1,011,211
79$1,380,845$743,842$604,674$1,007,172
80$1,446,099$704,698$549,338$1,001,927
81$1,515,628$661,255$489,768$995,436
82$1,589,792$613,227$425,746$987,661
83$1,668,988$560,312$357,045$978,570
84$1,753,649$502,191$283,430$968,134
85$1,844,249$438,526$204,653$956,329
86$1,941,310$368,962$120,456$943,140
87$2,045,403$293,120$30,571$928,558
88$2,157,155$210,604$0$912,584
89$2,277,254$120,993$0$911,966
90$2,406,455$23,843$0$919,436
91$2,545,588$0$0$927,274
92$2,695,563$0$0$972,305
93$2,857,381$0$0$1,032,596
94$3,032,140$0$0$1,097,812
95$3,221,050$0$0$1,168,416
96$3,425,436$0$0$1,244,919
97$3,646,759$0$0$1,327,880
98$3,886,622$0$0$1,417,917
99$4,146,790$0$0$1,515,708
100$4,429,203$0$0$1,621,998