Can I retire at age 71 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$73,330$72,677$72,040$71,418$70,810$69,296
2 years$36,302$35,626$34,971$34,335$33,719$32,201
3 years$23,961$23,282$22,628$21,999$21,393$19,918
4 years$17,792$17,115$16,468$15,849$15,258$13,837
5 years$14,091$13,418$12,780$12,174$11,599$10,237
6 years$11,625$10,957$10,328$9,735$9,178$7,876
7 years$9,864$9,202$8,582$8,004$7,464$6,223
8 years$8,544$7,887$7,279$6,714$6,192$5,011
9 years$7,517$6,867$6,269$5,719$5,215$4,093
10 years$6,697$6,053$5,466$4,930$4,443$3,380
11 years$6,026$5,389$4,812$4,291$3,821$2,815
12 years$5,467$4,837$4,270$3,763$3,311$2,360
13 years$4,995$4,371$3,815$3,322$2,888$1,990
14 years$4,591$3,973$3,428$2,949$2,531$1,685
15 years$4,240$3,630$3,095$2,630$2,229$1,433
16 years$3,934$3,330$2,806$2,355$1,970$1,222
17 years$3,664$3,067$2,553$2,116$1,746$1,045
18 years$3,425$2,834$2,331$1,907$1,553$895
19 years$3,211$2,626$2,134$1,723$1,384$768
20 years$3,018$2,441$1,958$1,561$1,236$661
21 years$2,844$2,273$1,801$1,416$1,106$569
22 years$2,686$2,122$1,660$1,288$992$490
23 years$2,542$1,985$1,533$1,173$890$423
24 years$2,410$1,860$1,418$1,070$800$365
25 years$2,289$1,745$1,313$977$720$316
26 years$2,178$1,640$1,218$893$649$273
27 years$2,075$1,544$1,131$818$585$236
28 years$1,979$1,454$1,051$749$528$204
29 years$1,890$1,372$978$687$476$177
30 years$1,808$1,296$911$630$430$153
31 years$1,730$1,225$850$579$389$133
32 years$1,658$1,159$793$532$352$115
33 years$1,590$1,098$740$489$319$100
34 years$1,527$1,040$691$450$288$86
35 years$1,467$987$646$414$261$75
36 years$1,410$937$605$382$237$65
37 years$1,357$890$566$352$215$56
38 years$1,307$845$530$324$195$49
39 years$1,259$804$497$299$176$42
40 years$1,214$765$465$276$160$37
41 years$1,171$728$436$254$145$32
42 years$1,131$693$409$235$132$28
43 years$1,092$661$384$217$120$24
44 years$1,055$630$361$200$108$21
45 years$1,020$600$339$185$98$18
46 years$987$573$318$171$89$16
47 years$955$547$299$158$81$14
48 years$924$522$281$146$74$12
49 years$895$498$264$135$67$10
50 years$867$476$248$124$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $888,000, adding $5,296 every year, while hoping to spend $22,034 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: 64/11/25 Blend
70$888,000$888,000$888,000$888,000
71$984,039$936,975$923,211$1,040,243
72$1,060,967$959,443$930,694$1,101,310
73$1,145,003$982,273$937,690$1,165,079
74$1,236,849$1,005,460$944,159$1,234,264
75$1,337,278$1,028,997$950,058$1,309,396
76$1,447,139$1,052,878$955,344$1,391,065
77$1,567,371$1,077,092$959,972$1,479,918
78$1,699,004$1,101,631$963,892$1,576,669
79$1,843,174$1,126,483$967,054$1,682,104
80$2,001,132$1,151,634$969,404$1,797,090
81$2,174,255$1,177,072$970,887$1,922,584
82$2,364,060$1,202,780$971,443$2,059,637
83$2,572,219$1,228,740$971,011$2,209,410
84$2,800,571$1,254,934$969,525$2,373,183
85$3,051,143$1,281,340$966,919$2,552,365
86$3,326,169$1,307,935$963,119$2,748,510
87$3,628,107$1,334,693$958,053$2,963,329
88$3,959,667$1,361,586$951,641$3,198,711
89$4,323,833$1,388,583$943,801$3,456,736
90$4,723,893$1,415,653$934,447$3,739,696
91$5,163,468$1,442,758$923,489$4,050,118
92$5,646,549$1,469,860$910,833$4,390,788
93$6,177,531$1,496,917$896,380$4,764,775
94$6,761,256$1,523,884$880,026$5,175,463
95$7,403,061$1,550,710$861,663$5,626,581
96$8,108,822$1,577,344$841,178$6,122,240
97$8,885,017$1,603,729$818,452$6,666,971
98$9,738,780$1,629,803$793,362$7,265,765
99$10,677,973$1,655,500$765,776$7,924,128
100$11,711,257$1,680,751$735,561$8,648,124