Can I retire at age 71 with 408,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $408,000?

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$33,692$33,392$33,099$32,814$32,534$32,370
2 years$16,679$16,369$16,068$15,776$15,493$15,327
3 years$11,009$10,697$10,397$10,108$9,829$9,667
4 years$8,175$7,864$7,566$7,282$7,010$6,853
5 years$6,474$6,165$5,872$5,593$5,329$5,177
6 years$5,341$5,034$4,745$4,473$4,217$4,070
7 years$4,532$4,228$3,943$3,677$3,429$3,288
8 years$3,925$3,624$3,344$3,085$2,845$2,710
9 years$3,454$3,155$2,880$2,628$2,396$2,266
10 years$3,077$2,781$2,511$2,265$2,041$1,917
11 years$2,769$2,476$2,211$1,971$1,756$1,637
12 years$2,512$2,222$1,962$1,729$1,521$1,408
13 years$2,295$2,008$1,753$1,527$1,327$1,219
14 years$2,109$1,826$1,575$1,355$1,163$1,060
15 years$1,948$1,668$1,422$1,209$1,024$926
16 years$1,808$1,530$1,289$1,082$905$812
17 years$1,684$1,409$1,173$972$802$714
18 years$1,573$1,302$1,071$876$713$630
19 years$1,475$1,207$980$792$636$556
20 years$1,387$1,121$900$717$568$493
21 years$1,307$1,045$828$651$508$437
22 years$1,234$975$763$592$456$388
23 years$1,168$912$704$539$409$346
24 years$1,108$854$651$491$368$308
25 years$1,052$802$603$449$331$274
26 years$1,001$754$560$410$298$245
27 years$953$709$520$376$269$219
28 years$909$668$483$344$242$196
29 years$869$630$449$316$219$175
30 years$831$595$419$290$198$157
31 years$795$563$390$266$179$140
32 years$762$533$364$244$162$126
33 years$731$504$340$225$146$113
34 years$701$478$318$207$133$101
35 years$674$453$297$190$120$90
36 years$648$430$278$175$109$81
37 years$624$409$260$162$99$73
38 years$600$388$244$149$89$65
39 years$579$369$228$137$81$59
40 years$558$351$214$127$74$53
41 years$538$335$201$117$67$47
42 years$519$319$188$108$61$42
43 years$502$304$177$100$55$38
44 years$485$289$166$92$50$34
45 years$469$276$156$85$45$31
46 years$453$263$146$78$41$28
47 years$439$251$137$72$37$25
48 years$425$240$129$67$34$22
49 years$411$229$121$62$31$20
50 years$398$219$114$57$28$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $408,000, adding $2,225 every year, while hoping to spend $25,553 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: 35/42/23 Blend
70$408,000$408,000$408,000$408,000
71$451,911$430,287$423,963$464,509
72$470,818$424,183$410,978$467,912
73$490,797$416,923$396,701$469,081
74$511,930$408,425$381,062$469,826
75$534,307$398,598$363,989$470,128
76$558,028$387,350$345,403$469,963
77$583,198$374,582$325,225$469,312
78$609,935$360,187$303,371$468,152
79$638,368$344,056$279,754$466,463
80$668,637$326,070$254,281$464,227
81$700,896$306,106$226,858$461,424
82$735,313$284,030$197,383$458,039
83$772,073$259,706$165,753$454,057
84$811,377$232,985$131,859$449,464
85$853,449$203,712$95,587$444,251
86$898,529$171,723$56,818$438,412
87$946,886$136,844$15,429$431,942
88$998,812$98,892$0$424,844
89$1,054,627$57,674$0$424,178
90$1,114,684$12,986$0$427,401
91$1,179,371$0$0$430,778
92$1,249,112$0$0$450,726
93$1,324,374$0$0$478,777
94$1,405,669$0$0$509,123
95$1,493,563$0$0$541,983
96$1,588,674$0$0$577,594
97$1,691,684$0$0$616,217
98$1,803,341$0$0$658,141
99$1,924,468$0$0$703,681
100$2,055,972$0$0$753,187