Can I retire at age 71 with 498,000?

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 $498,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$41,124$40,758$40,401$40,052$39,711$39,494
2 years$20,359$19,979$19,612$19,256$18,910$18,691
3 years$13,438$13,057$12,690$12,337$11,997$11,783
4 years$9,978$9,598$9,235$8,888$8,557$8,349
5 years$7,902$7,525$7,167$6,827$6,505$6,304
6 years$6,519$6,145$5,792$5,460$5,147$4,953
7 years$5,532$5,160$4,813$4,489$4,186$4,000
8 years$4,791$4,423$4,082$3,765$3,473$3,294
9 years$4,216$3,851$3,516$3,207$2,924$2,753
10 years$3,756$3,395$3,065$2,765$2,492$2,328
11 years$3,380$3,022$2,698$2,406$2,143$1,986
12 years$3,066$2,713$2,395$2,111$1,857$1,708
13 years$2,801$2,451$2,140$1,863$1,619$1,477
14 years$2,574$2,228$1,922$1,654$1,420$1,284
15 years$2,378$2,036$1,736$1,475$1,250$1,121
16 years$2,206$1,868$1,574$1,321$1,105$982
17 years$2,055$1,720$1,432$1,187$979$863
18 years$1,921$1,589$1,307$1,069$871$760
19 years$1,800$1,473$1,197$966$776$672
20 years$1,693$1,369$1,098$875$693$594
21 years$1,595$1,275$1,010$794$620$527
22 years$1,506$1,190$931$722$556$468
23 years$1,426$1,113$860$658$499$416
24 years$1,352$1,043$795$600$449$370
25 years$1,284$979$736$548$404$330
26 years$1,221$920$683$501$364$294
27 years$1,164$866$634$459$328$262
28 years$1,110$816$590$420$296$234
29 years$1,060$770$549$385$267$209
30 years$1,014$727$511$354$241$187
31 years$970$687$476$325$218$168
32 years$930$650$445$298$197$150
33 years$892$616$415$274$179$134
34 years$856$583$388$252$162$120
35 years$823$553$363$232$147$108
36 years$791$525$339$214$133$97
37 years$761$499$317$197$120$87
38 years$733$474$297$182$109$78
39 years$706$451$279$168$99$70
40 years$681$429$261$155$90$62
41 years$657$408$245$143$81$56
42 years$634$389$230$132$74$50
43 years$612$370$215$122$67$45
44 years$592$353$202$112$61$41
45 years$572$337$190$104$55$36
46 years$553$321$178$96$50$33
47 years$535$307$168$88$46$29
48 years$518$293$157$82$41$26
49 years$502$279$148$76$38$24
50 years$486$267$139$70$34$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $498,000, adding $4,129 every year, while hoping to spend $40,685 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: 62/26/12 Blend
70$498,000$498,000$498,000$498,000
71$553,055$526,661$518,942$585,529
72$566,178$509,179$493,038$590,319
73$579,276$489,477$464,903$590,514
74$592,304$467,402$434,418$589,726
75$605,209$442,795$401,462$587,861
76$617,934$415,486$365,905$584,817
77$630,414$385,296$327,613$580,484
78$642,574$352,033$286,446$574,742
79$654,332$315,498$242,257$567,462
80$665,595$275,479$194,894$558,505
81$676,260$231,751$144,197$547,717
82$686,209$184,078$89,998$534,935
83$695,314$132,209$32,125$519,981
84$703,430$75,881$0$502,660
85$710,395$14,814$0$486,559
86$716,030$0$0$472,291
87$720,135$0$0$470,190
88$722,487$0$0$471,110
89$722,839$0$0$470,641
90$720,917$0$0$468,596
91$716,415$0$0$464,765
92$708,997$0$0$458,918
93$698,286$0$0$450,797
94$683,867$0$0$440,117
95$665,280$0$0$426,563
96$642,015$0$0$409,785
97$613,505$0$0$389,398
98$579,127$0$0$364,971
99$538,189$0$0$336,033
100$489,924$0$0$302,059