Can I retire at age 71 with 904,000?

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 $904,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$74,651$73,987$73,338$72,705$72,086$71,542
2 years$36,956$36,268$35,601$34,954$34,327$33,778
3 years$24,393$23,701$23,036$22,395$21,778$21,242
4 years$18,112$17,423$16,764$16,135$15,532$15,013
5 years$14,345$13,660$13,010$12,393$11,808$11,306
6 years$11,834$11,154$10,514$9,911$9,343$8,860
7 years$10,042$9,367$8,737$8,148$7,598$7,135
8 years$8,698$8,030$7,410$6,835$6,304$5,859
9 years$7,653$6,991$6,382$5,822$5,308$4,883
10 years$6,818$6,162$5,564$5,019$4,523$4,116
11 years$6,135$5,486$4,898$4,368$3,890$3,502
12 years$5,566$4,924$4,347$3,831$3,371$3,001
13 years$5,085$4,450$3,884$3,382$2,940$2,587
14 years$4,673$4,045$3,490$3,002$2,577$2,241
15 years$4,317$3,695$3,151$2,678$2,269$1,950
16 years$4,005$3,390$2,857$2,398$2,005$1,703
17 years$3,730$3,122$2,599$2,154$1,778$1,491
18 years$3,486$2,885$2,373$1,941$1,581$1,310
19 years$3,268$2,674$2,172$1,754$1,409$1,152
20 years$3,072$2,485$1,994$1,589$1,259$1,016
21 years$2,895$2,314$1,834$1,442$1,126$898
22 years$2,735$2,160$1,690$1,311$1,010$794
23 years$2,588$2,021$1,561$1,194$906$703
24 years$2,454$1,893$1,443$1,089$815$623
25 years$2,331$1,777$1,337$995$733$553
26 years$2,217$1,670$1,240$909$660$492
27 years$2,112$1,571$1,151$832$595$437
28 years$2,015$1,481$1,070$763$537$389
29 years$1,924$1,397$996$699$485$346
30 years$1,840$1,319$928$642$438$308
31 years$1,762$1,247$865$589$396$275
32 years$1,688$1,180$807$542$358$245
33 years$1,619$1,117$753$498$324$218
34 years$1,554$1,059$704$458$294$195
35 years$1,493$1,005$658$422$266$174
36 years$1,436$953$616$389$241$155
37 years$1,382$906$576$358$218$138
38 years$1,330$861$540$330$198$124
39 years$1,282$818$506$304$180$110
40 years$1,236$779$474$281$163$99
41 years$1,192$741$444$259$148$88
42 years$1,151$706$417$239$134$79
43 years$1,112$673$391$221$122$70
44 years$1,074$641$367$204$110$63
45 years$1,038$611$345$188$100$56
46 years$1,004$583$324$174$91$50
47 years$972$557$304$161$83$45
48 years$941$531$286$148$75$40
49 years$911$507$269$137$68$36
50 years$883$485$253$127$62$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $904,000, adding $5,572 every year, while hoping to spend $28,886 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: 37/48/15 Blend
70$904,000$904,000$904,000$904,000
71$1,001,956$954,044$940,032$1,034,265
72$1,073,421$970,057$940,788$1,074,003
73$1,151,207$985,887$940,602$1,113,725
74$1,235,929$1,001,495$939,411$1,156,010
75$1,328,262$1,016,836$937,150$1,201,101
76$1,428,951$1,031,868$933,750$1,249,267
77$1,538,814$1,046,539$929,141$1,300,808
78$1,658,753$1,060,799$923,247$1,356,054
79$1,789,759$1,074,592$915,989$1,415,367
80$1,932,925$1,087,857$907,285$1,479,152
81$2,089,453$1,100,532$897,049$1,547,852
82$2,260,667$1,112,548$885,190$1,621,959
83$2,448,025$1,123,833$871,614$1,702,017
84$2,653,131$1,134,309$856,221$1,788,626
85$2,877,754$1,143,893$838,908$1,882,449
86$3,123,840$1,152,499$819,566$1,984,218
87$3,393,531$1,160,031$798,081$2,094,744
88$3,689,190$1,166,391$774,335$2,214,919
89$4,013,415$1,171,472$748,204$2,345,731
90$4,369,071$1,175,162$719,556$2,488,272
91$4,759,313$1,177,341$688,257$2,643,746
92$5,187,613$1,177,881$654,165$2,813,484
93$5,657,800$1,176,648$617,130$2,998,956
94$6,174,090$1,173,498$576,997$3,201,782
95$6,741,125$1,168,277$533,605$3,423,757
96$7,364,022$1,160,825$486,783$3,666,857
97$8,048,417$1,150,970$436,355$3,933,268
98$8,800,518$1,138,530$382,135$4,225,399
99$9,627,165$1,123,312$323,931$4,545,914
100$10,535,893$1,105,112$261,540$4,897,751