Can I retire at age 71 with 356,000?

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 $356,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$29,398$29,136$28,881$28,631$28,388$28,245
2 years$14,554$14,282$14,020$13,765$13,518$13,373
3 years$9,606$9,334$9,072$8,819$8,576$8,435
4 years$7,133$6,861$6,602$6,354$6,117$5,979
5 years$5,649$5,379$5,123$4,880$4,650$4,517
6 years$4,660$4,393$4,140$3,903$3,679$3,551
7 years$3,954$3,689$3,441$3,209$2,992$2,869
8 years$3,425$3,162$2,918$2,692$2,482$2,364
9 years$3,014$2,753$2,513$2,293$2,091$1,977
10 years$2,685$2,427$2,191$1,976$1,781$1,673
11 years$2,416$2,160$1,929$1,720$1,532$1,428
12 years$2,192$1,939$1,712$1,509$1,328$1,229
13 years$2,003$1,752$1,530$1,332$1,158$1,063
14 years$1,840$1,593$1,374$1,182$1,015$925
15 years$1,700$1,455$1,241$1,054$893$808
16 years$1,577$1,335$1,125$944$790$708
17 years$1,469$1,230$1,024$848$700$623
18 years$1,373$1,136$934$765$623$549
19 years$1,287$1,053$855$691$555$485
20 years$1,210$978$785$626$496$430
21 years$1,140$911$722$568$444$381
22 years$1,077$851$666$516$398$339
23 years$1,019$796$615$470$357$301
24 years$966$746$568$429$321$269
25 years$918$700$526$392$289$239
26 years$873$658$488$358$260$214
27 years$832$619$453$328$234$191
28 years$793$583$421$300$212$171
29 years$758$550$392$275$191$153
30 years$725$520$365$253$173$137
31 years$694$491$341$232$156$122
32 years$665$465$318$213$141$110
33 years$638$440$297$196$128$98
34 years$612$417$277$180$116$88
35 years$588$396$259$166$105$79
36 years$565$375$242$153$95$71
37 years$544$357$227$141$86$64
38 years$524$339$213$130$78$57
39 years$505$322$199$120$71$51
40 years$487$307$187$111$64$46
41 years$470$292$175$102$58$41
42 years$453$278$164$94$53$37
43 years$438$265$154$87$48$33
44 years$423$252$145$80$43$30
45 years$409$241$136$74$39$27
46 years$396$230$128$68$36$24
47 years$383$219$120$63$33$22
48 years$370$209$113$58$30$19
49 years$359$200$106$54$27$18
50 years$348$191$99$50$24$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $356,000, adding $3,713 every year, while hoping to spend $21,872 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: 60/20/20 Blend
70$356,000$356,000$356,000$356,000
71$396,142$377,274$371,756$417,626
72$413,277$372,489$360,938$427,821
73$431,426$366,736$349,025$436,209
74$450,671$359,945$335,956$444,866
75$471,099$352,042$321,670$453,822
76$492,805$342,946$306,101$463,111
77$515,896$332,576$289,180$472,770
78$540,486$320,841$270,836$482,842
79$566,702$307,647$250,995$493,375
80$594,680$292,897$229,578$504,424
81$624,573$276,485$206,505$516,049
82$656,546$258,299$181,689$528,320
83$690,781$238,222$155,042$541,314
84$727,476$216,131$126,472$555,117
85$766,851$191,893$95,881$569,826
86$809,144$165,371$63,168$585,549
87$854,621$136,418$28,227$602,409
88$903,568$104,878$0$620,542
89$956,304$70,589$0$642,032
90$1,013,177$33,378$0$671,669
91$1,074,570$0$0$703,639
92$1,140,904$0$0$739,705
93$1,212,641$0$0$786,675
94$1,290,288$0$0$837,540
95$1,374,406$0$0$892,667
96$1,465,607$0$0$952,463
97$1,564,568$0$0$1,017,373
98$1,672,032$0$0$1,087,888
99$1,788,814$0$0$1,164,549
100$1,915,815$0$0$1,247,948