Can I retire at age 71 with 494,000?

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 $494,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$40,794$40,431$40,076$39,730$39,392$39,013
2 years$20,195$19,819$19,454$19,101$18,758$18,377
3 years$13,330$12,952$12,588$12,238$11,901$11,528
4 years$9,898$9,521$9,161$8,817$8,488$8,127
5 years$7,839$7,465$7,109$6,772$6,452$6,105
6 years$6,467$6,095$5,745$5,416$5,106$4,771
7 years$5,487$5,119$4,774$4,453$4,152$3,831
8 years$4,753$4,388$4,049$3,735$3,445$3,137
9 years$4,182$3,820$3,488$3,182$2,901$2,607
10 years$3,726$3,368$3,040$2,743$2,472$2,191
11 years$3,352$2,998$2,677$2,387$2,126$1,858
12 years$3,042$2,691$2,376$2,094$1,842$1,587
13 years$2,779$2,432$2,122$1,848$1,606$1,364
14 years$2,554$2,210$1,907$1,641$1,408$1,178
15 years$2,359$2,019$1,722$1,463$1,240$1,021
16 years$2,189$1,853$1,561$1,310$1,096$889
17 years$2,038$1,706$1,420$1,177$972$776
18 years$1,905$1,577$1,297$1,061$864$679
19 years$1,786$1,461$1,187$959$770$595
20 years$1,679$1,358$1,089$868$688$523
21 years$1,582$1,265$1,002$788$615$460
22 years$1,494$1,181$924$716$552$406
23 years$1,414$1,104$853$652$495$358
24 years$1,341$1,034$789$595$445$316
25 years$1,274$971$730$543$401$279
26 years$1,212$912$677$497$361$247
27 years$1,154$859$629$455$325$219
28 years$1,101$809$585$417$294$194
29 years$1,052$763$544$382$265$172
30 years$1,006$721$507$351$239$153
31 years$963$681$473$322$217$135
32 years$922$645$441$296$196$120
33 years$885$611$412$272$177$107
34 years$849$579$385$250$160$95
35 years$816$549$360$231$145$84
36 years$785$521$336$212$132$75
37 years$755$495$315$196$119$67
38 years$727$470$295$180$108$59
39 years$700$447$276$166$98$53
40 years$675$425$259$153$89$47
41 years$652$405$243$141$81$42
42 years$629$386$228$131$73$37
43 years$607$368$214$121$66$33
44 years$587$350$201$111$60$29
45 years$567$334$188$103$55$26
46 years$549$319$177$95$50$23
47 years$531$304$166$88$45$21
48 years$514$290$156$81$41$18
49 years$498$277$147$75$37$16
50 years$482$265$138$69$34$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $494,000, adding $6,779 every year, while hoping to spend $32,810 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: 28/49/23 Blend
70$494,000$494,000$494,000$494,000
71$551,381$525,199$517,542$562,692
72$572,712$516,024$499,970$562,907
73$595,119$505,300$480,709$559,796
74$618,678$492,916$459,670$555,767
75$643,469$478,755$436,755$550,762
76$669,583$462,694$411,866$544,720
77$697,115$444,600$384,898$537,580
78$726,171$424,336$355,743$529,277
79$756,867$401,755$324,286$519,744
80$789,327$376,701$290,409$508,911
81$823,689$349,009$253,989$496,708
82$860,101$318,507$214,894$483,060
83$898,729$285,011$172,990$467,891
84$939,750$248,328$128,136$451,123
85$983,359$208,251$80,183$432,677
86$1,029,771$164,564$28,979$412,470
87$1,079,220$117,039$0$390,420
88$1,131,961$65,435$0$372,738
89$1,188,275$9,496$0$361,041
90$1,248,471$0$0$348,165
91$1,312,885$0$0$361,591
92$1,381,886$0$0$381,512
93$1,455,881$0$0$402,930
94$1,535,314$0$0$425,981
95$1,620,674$0$0$450,816
96$1,712,497$0$0$477,597
97$1,811,370$0$0$506,505
98$1,917,941$0$0$537,737
99$2,032,920$0$0$571,512
100$2,157,085$0$0$608,068