Can I retire at age 71 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$80,845$80,125$79,422$78,736$78,067$77,123
2 years$40,022$39,277$38,554$37,854$37,175$36,225
3 years$26,416$25,668$24,947$24,253$23,585$22,659
4 years$19,615$18,869$18,155$17,473$16,821$15,926
5 years$15,535$14,793$14,089$13,421$12,787$11,925
6 years$12,816$12,080$11,386$10,733$10,118$9,290
7 years$10,875$10,145$9,462$8,824$8,229$7,435
8 years$9,419$8,696$8,024$7,402$6,826$6,068
9 years$8,288$7,571$6,911$6,305$5,749$5,024
10 years$7,383$6,674$6,026$5,435$4,898$4,207
11 years$6,644$5,941$5,305$4,730$4,213$3,555
12 years$6,028$5,332$4,708$4,149$3,651$3,025
13 years$5,507$4,819$4,206$3,663$3,183$2,590
14 years$5,061$4,380$3,779$3,252$2,791$2,227
15 years$4,675$4,002$3,412$2,900$2,457$1,924
16 years$4,337$3,671$3,094$2,596$2,172$1,667
17 years$4,040$3,381$2,815$2,333$1,925$1,449
18 years$3,776$3,124$2,570$2,102$1,712$1,262
19 years$3,540$2,896$2,353$1,900$1,526$1,102
20 years$3,327$2,691$2,159$1,721$1,363$964
21 years$3,136$2,506$1,986$1,562$1,220$844
22 years$2,961$2,340$1,830$1,420$1,093$741
23 years$2,803$2,188$1,690$1,293$981$651
24 years$2,657$2,050$1,563$1,179$882$572
25 years$2,524$1,924$1,448$1,077$794$503
26 years$2,401$1,808$1,343$985$715$443
27 years$2,287$1,702$1,247$901$645$391
28 years$2,182$1,604$1,159$826$582$344
29 years$2,084$1,513$1,079$757$525$304
30 years$1,993$1,429$1,005$695$475$268
31 years$1,908$1,351$937$638$429$237
32 years$1,828$1,278$874$587$388$209
33 years$1,753$1,210$816$539$351$185
34 years$1,683$1,147$762$496$318$163
35 years$1,617$1,088$713$457$288$144
36 years$1,555$1,033$667$421$261$128
37 years$1,496$981$624$388$237$113
38 years$1,441$932$584$357$214$100
39 years$1,388$886$548$330$194$88
40 years$1,338$843$513$304$176$78
41 years$1,291$803$481$280$160$69
42 years$1,246$764$451$259$145$61
43 years$1,204$728$424$239$132$54
44 years$1,163$694$398$221$120$48
45 years$1,125$662$373$204$109$43
46 years$1,088$632$351$188$99$38
47 years$1,052$603$329$174$90$33
48 years$1,019$575$310$161$81$29
49 years$987$549$291$148$74$26
50 years$956$525$274$137$67$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $979,000, adding $4,864 every year, while hoping to spend $39,224 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: 52/25/23 Blend
70$979,000$979,000$979,000$979,000
71$1,083,875$1,031,988$1,016,814$1,133,078
72$1,152,696$1,040,822$1,009,143$1,176,421
73$1,227,223$1,048,773$999,901$1,219,112
74$1,307,995$1,055,758$988,993$1,264,736
75$1,395,607$1,061,687$976,320$1,313,586
76$1,490,713$1,066,464$961,781$1,365,987
77$1,594,031$1,069,986$945,266$1,422,299
78$1,706,352$1,072,145$926,663$1,482,920
79$1,828,547$1,072,827$905,853$1,548,290
80$1,961,572$1,071,909$882,712$1,618,897
81$2,106,481$1,069,262$857,112$1,695,279
82$2,264,433$1,064,746$828,916$1,778,032
83$2,436,704$1,058,217$797,983$1,867,816
84$2,624,696$1,049,519$764,164$1,965,358
85$2,829,957$1,038,487$727,305$2,071,465
86$3,054,187$1,024,947$687,244$2,187,028
87$3,299,259$1,008,714$643,812$2,313,031
88$3,567,235$989,593$596,831$2,450,562
89$3,860,385$967,375$546,117$2,600,825
90$4,181,209$941,841$491,477$2,765,148
91$4,532,460$912,759$432,709$2,945,000
92$4,917,168$879,882$369,602$3,142,004
93$5,338,673$842,949$301,937$3,357,951
94$5,800,649$801,685$229,484$3,594,822
95$6,307,146$755,798$152,002$3,854,804
96$6,862,623$704,980$69,242$4,140,311
97$7,471,991$648,905$0$4,454,010
98$8,140,660$587,228$0$4,803,528
99$8,874,589$519,583$0$5,205,874
100$9,680,342$445,587$0$5,647,697