Can I retire at age 71 with 493,000?

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 $493,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$40,711$40,349$39,995$39,650$39,313$37,827
2 years$20,154$19,779$19,415$19,062$18,720$17,241
3 years$13,303$12,926$12,563$12,213$11,877$10,451
4 years$9,878$9,502$9,143$8,799$8,471$7,108
5 years$7,823$7,449$7,095$6,759$6,439$5,144
6 years$6,454$6,083$5,734$5,405$5,095$3,867
7 years$5,476$5,109$4,765$4,444$4,144$2,984
8 years$4,743$4,379$4,041$3,728$3,438$2,344
9 years$4,174$3,813$3,480$3,175$2,895$1,866
10 years$3,718$3,361$3,034$2,737$2,467$1,501
11 years$3,346$2,992$2,671$2,382$2,121$1,217
12 years$3,035$2,685$2,371$2,089$1,838$992
13 years$2,773$2,427$2,118$1,845$1,603$813
14 years$2,549$2,206$1,903$1,637$1,405$669
15 years$2,354$2,015$1,718$1,460$1,237$552
16 years$2,184$1,849$1,558$1,308$1,094$457
17 years$2,034$1,703$1,418$1,175$970$379
18 years$1,901$1,573$1,294$1,059$862$315
19 years$1,782$1,458$1,185$957$768$262
20 years$1,676$1,355$1,087$866$686$218
21 years$1,579$1,262$1,000$786$614$182
22 years$1,491$1,178$922$715$551$151
23 years$1,411$1,102$851$651$494$126
24 years$1,338$1,032$787$594$444$106
25 years$1,271$969$729$542$400$88
26 years$1,209$911$676$496$360$74
27 years$1,152$857$628$454$325$62
28 years$1,099$808$584$416$293$52
29 years$1,049$762$543$381$264$43
30 years$1,004$719$506$350$239$36
31 years$961$680$472$321$216$30
32 years$921$644$440$295$195$25
33 years$883$609$411$272$177$21
34 years$848$578$384$250$160$18
35 years$814$548$359$230$145$15
36 years$783$520$336$212$131$12
37 years$753$494$314$195$119$10
38 years$726$469$294$180$108$9
39 years$699$446$276$166$98$7
40 years$674$425$258$153$89$6
41 years$650$404$242$141$81$5
42 years$628$385$227$130$73$4
43 years$606$367$213$120$66$4
44 years$586$350$200$111$60$3
45 years$566$333$188$103$55$3
46 years$548$318$177$95$50$2
47 years$530$303$166$88$45$2
48 years$513$290$156$81$41$1
49 years$497$277$147$75$37$1
50 years$481$264$138$69$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $493,000, adding $6,794 every year, while hoping to spend $25,576 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: 57/16/27 Blend
70$493,000$493,000$493,000$493,000
71$550,294$524,165$516,524$577,245
72$579,211$522,636$506,614$594,955
73$610,221$520,176$495,516$610,988
74$643,510$516,710$483,162$627,935
75$679,281$512,163$469,482$645,892
76$717,761$506,452$454,402$664,967
77$759,195$499,491$437,848$685,279
78$803,855$491,188$419,737$706,959
79$852,038$481,445$399,987$730,156
80$904,069$470,160$378,511$755,032
81$960,310$457,223$355,217$781,770
82$1,021,154$442,520$330,009$810,572
83$1,087,035$425,927$302,788$841,661
84$1,158,431$407,315$273,449$875,287
85$1,235,865$386,547$241,883$911,726
86$1,319,914$363,479$207,978$951,284
87$1,411,213$337,958$171,613$994,301
88$1,510,460$309,821$132,665$1,041,153
89$1,618,422$278,897$91,004$1,092,259
90$1,735,943$245,005$46,496$1,148,080
91$1,863,954$207,955$0$1,209,128
92$2,003,477$167,544$0$1,276,261
93$2,155,637$123,560$0$1,364,131
94$2,321,673$75,775$0$1,460,070
95$2,502,950$23,954$0$1,564,893
96$2,700,967$0$0$1,679,501
97$2,917,377$0$0$1,810,548
98$3,154,000$0$0$1,958,489
99$3,412,838$0$0$2,120,361
100$3,696,098$0$0$2,297,552