Can I retire at age 71 with 422,000?

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 $422,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$34,848$34,538$34,235$33,940$33,651$32,535
2 years$17,252$16,930$16,619$16,317$16,024$14,910
3 years$11,387$11,064$10,754$10,455$10,166$9,090
4 years$8,455$8,133$7,826$7,532$7,251$6,220
5 years$6,696$6,377$6,073$5,785$5,512$4,530
6 years$5,524$5,207$4,908$4,626$4,361$3,428
7 years$4,688$4,373$4,079$3,804$3,547$2,663
8 years$4,060$3,748$3,459$3,191$2,943$2,107
9 years$3,572$3,264$2,979$2,718$2,478$1,690
10 years$3,183$2,877$2,597$2,343$2,111$1,370
11 years$2,864$2,561$2,287$2,039$1,816$1,119
12 years$2,598$2,299$2,029$1,788$1,574$920
13 years$2,374$2,077$1,813$1,579$1,372$760
14 years$2,182$1,888$1,629$1,402$1,203$631
15 years$2,015$1,725$1,471$1,250$1,059$525
16 years$1,870$1,583$1,334$1,119$936$438
17 years$1,741$1,457$1,213$1,006$830$366
18 years$1,627$1,347$1,108$906$738$307
19 years$1,526$1,248$1,014$819$658$258
20 years$1,434$1,160$931$742$588$217
21 years$1,352$1,080$856$673$526$182
22 years$1,277$1,008$789$612$471$153
23 years$1,208$943$728$557$423$129
24 years$1,146$884$674$508$380$109
25 years$1,088$829$624$464$342$92
26 years$1,035$779$579$424$308$78
27 years$986$734$537$389$278$66
28 years$941$691$500$356$251$55
29 years$898$652$465$326$226$47
30 years$859$616$433$300$205$40
31 years$822$582$404$275$185$33
32 years$788$551$377$253$167$28
33 years$756$522$352$233$151$24
34 years$725$494$329$214$137$20
35 years$697$469$307$197$124$17
36 years$670$445$287$181$112$14
37 years$645$423$269$167$102$12
38 years$621$402$252$154$92$10
39 years$598$382$236$142$84$9
40 years$577$363$221$131$76$7
41 years$557$346$207$121$69$6
42 years$537$329$195$112$63$5
43 years$519$314$183$103$57$4
44 years$501$299$171$95$52$4
45 years$485$285$161$88$47$3
46 years$469$272$151$81$42$3
47 years$454$260$142$75$39$2
48 years$439$248$133$69$35$2
49 years$425$237$125$64$32$2
50 years$412$226$118$59$29$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $422,000, adding $2,284 every year, while hoping to spend $27,983 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: 78/15/7 Blend
70$422,000$422,000$422,000$422,000
71$467,400$445,034$438,493$503,297
72$485,301$437,067$423,409$519,207
73$504,090$427,772$406,881$532,783
74$523,828$417,053$388,833$546,843
75$544,582$404,812$369,182$561,423
76$566,423$390,942$347,843$576,563
77$589,430$375,330$324,728$592,305
78$613,689$357,858$299,743$608,698
79$639,293$338,400$272,792$625,795
80$666,342$316,824$243,773$643,655
81$694,949$292,988$212,579$662,344
82$725,234$266,745$179,100$681,935
83$757,329$237,936$143,221$702,509
84$791,379$206,397$104,821$724,153
85$827,541$171,952$63,774$746,969
86$865,988$134,415$19,948$771,064
87$906,908$93,591$0$796,562
88$950,509$49,274$0$825,600
89$997,017$1,244$0$858,045
90$1,046,680$0$0$892,582
91$1,099,769$0$0$937,780
92$1,156,583$0$0$986,378
93$1,217,448$0$0$1,038,450
94$1,282,722$0$0$1,094,304
95$1,352,799$0$0$1,154,279
96$1,428,109$0$0$1,218,744
97$1,509,127$0$0$1,288,106
98$1,596,373$0$0$1,362,813
99$1,690,416$0$0$1,443,354
100$1,791,886$0$0$1,530,269