Can I retire at age 71 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$76,303$75,623$74,960$74,313$73,681$72,401
2 years$37,774$37,070$36,388$35,727$35,086$33,801
3 years$24,932$24,226$23,546$22,891$22,260$21,009
4 years$18,513$17,809$17,135$16,492$15,876$14,669
5 years$14,662$13,962$13,298$12,667$12,069$10,910
6 years$12,096$11,401$10,747$10,130$9,550$8,440
7 years$10,264$9,575$8,930$8,328$7,766$6,706
8 years$8,890$8,207$7,574$6,987$6,443$5,431
9 years$7,822$7,146$6,523$5,951$5,426$4,463
10 years$6,968$6,299$5,687$5,130$4,623$3,708
11 years$6,270$5,607$5,007$4,464$3,976$3,107
12 years$5,689$5,033$4,443$3,916$3,446$2,622
13 years$5,198$4,548$3,970$3,457$3,005$2,226
14 years$4,777$4,134$3,567$3,069$2,634$1,898
15 years$4,412$3,777$3,221$2,737$2,319$1,625
16 years$4,094$3,465$2,920$2,451$2,050$1,395
17 years$3,813$3,191$2,657$2,202$1,817$1,201
18 years$3,564$2,949$2,425$1,984$1,616$1,037
19 years$3,341$2,733$2,220$1,793$1,440$897
20 years$3,140$2,540$2,038$1,624$1,286$777
21 years$2,959$2,366$1,874$1,474$1,151$674
22 years$2,795$2,208$1,728$1,340$1,032$585
23 years$2,645$2,065$1,595$1,220$926$509
24 years$2,508$1,935$1,475$1,113$833$443
25 years$2,382$1,816$1,366$1,017$749$386
26 years$2,266$1,707$1,267$929$675$336
27 years$2,159$1,606$1,177$851$608$293
28 years$2,059$1,513$1,094$779$549$256
29 years$1,967$1,428$1,018$715$496$223
30 years$1,881$1,348$948$656$448$195
31 years$1,800$1,275$884$602$405$170
32 years$1,725$1,206$825$554$366$149
33 years$1,655$1,142$770$509$332$130
34 years$1,589$1,083$720$468$300$114
35 years$1,526$1,027$673$431$272$100
36 years$1,468$975$629$397$246$87
37 years$1,412$926$589$366$223$76
38 years$1,360$880$552$337$202$67
39 years$1,310$836$517$311$184$58
40 years$1,263$796$484$287$166$51
41 years$1,219$758$454$265$151$45
42 years$1,176$721$426$244$137$39
43 years$1,136$687$400$225$124$34
44 years$1,098$655$375$208$113$30
45 years$1,061$625$352$192$102$26
46 years$1,027$596$331$178$93$23
47 years$993$569$311$164$84$20
48 years$962$543$292$152$77$18
49 years$931$519$275$140$70$15
50 years$902$495$258$130$63$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $924,000, adding $5,821 every year, while hoping to spend $21,536 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: 57/32/11 Blend
70$924,000$924,000$924,000$924,000
71$1,024,252$975,280$960,958$1,079,537
72$1,105,812$1,000,155$970,236$1,142,414
73$1,194,969$1,025,527$979,103$1,207,998
74$1,292,475$1,051,397$987,523$1,278,944
75$1,399,159$1,077,767$995,456$1,355,770
76$1,515,933$1,104,637$1,002,864$1,439,044
77$1,643,800$1,132,006$1,009,702$1,529,390
78$1,783,867$1,159,874$1,015,926$1,627,500
79$1,937,352$1,188,238$1,021,490$1,734,130
80$2,105,595$1,217,095$1,026,343$1,850,118
81$2,290,073$1,246,440$1,030,433$1,976,384
82$2,492,415$1,276,270$1,033,707$2,113,942
83$2,714,411$1,306,577$1,036,105$2,263,909
84$2,958,035$1,337,353$1,037,569$2,427,516
85$3,225,462$1,368,591$1,038,035$2,606,117
86$3,519,086$1,400,279$1,037,436$2,801,207
87$3,841,545$1,432,405$1,035,703$3,014,430
88$4,195,746$1,464,956$1,032,762$3,247,599
89$4,584,890$1,497,917$1,028,538$3,502,712
90$5,012,504$1,531,270$1,022,949$3,781,968
91$5,482,473$1,564,995$1,015,911$4,087,793
92$5,999,077$1,599,072$1,007,336$4,422,858
93$6,567,033$1,633,477$997,132$4,790,107
94$7,191,536$1,668,183$985,202$5,192,784
95$7,878,311$1,703,162$971,444$5,634,462
96$8,633,663$1,738,382$955,752$6,119,082
97$9,464,542$1,773,807$938,015$6,650,983
98$10,378,603$1,809,402$918,116$7,234,950
99$11,384,282$1,845,124$895,934$7,876,252
100$12,490,873$1,880,929$871,342$8,580,698