Can I retire at age 71 with 505,000?

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 $505,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$41,702$41,331$40,969$40,615$40,269$39,783
2 years$20,645$20,260$19,888$19,526$19,176$18,686
3 years$13,626$13,240$12,869$12,511$12,166$11,688
4 years$10,118$9,733$9,365$9,013$8,677$8,215
5 years$8,013$7,631$7,268$6,923$6,596$6,151
6 years$6,611$6,231$5,873$5,536$5,219$4,792
7 years$5,609$5,233$4,881$4,552$4,245$3,835
8 years$4,859$4,486$4,139$3,818$3,521$3,130
9 years$4,275$3,905$3,565$3,252$2,965$2,592
10 years$3,809$3,442$3,108$2,804$2,527$2,170
11 years$3,427$3,065$2,736$2,440$2,173$1,834
12 years$3,109$2,751$2,428$2,140$1,883$1,560
13 years$2,841$2,486$2,170$1,889$1,642$1,336
14 years$2,611$2,260$1,949$1,677$1,439$1,149
15 years$2,411$2,064$1,760$1,496$1,267$992
16 years$2,237$1,894$1,596$1,339$1,120$860
17 years$2,084$1,744$1,452$1,203$993$747
18 years$1,948$1,612$1,326$1,085$883$651
19 years$1,826$1,494$1,214$980$787$568
20 years$1,716$1,388$1,114$888$703$497
21 years$1,617$1,293$1,024$805$629$436
22 years$1,528$1,207$944$732$564$382
23 years$1,446$1,129$872$667$506$336
24 years$1,371$1,058$806$608$455$295
25 years$1,302$992$747$556$409$260
26 years$1,239$933$693$508$369$229
27 years$1,180$878$643$465$333$201
28 years$1,126$827$598$426$300$178
29 years$1,075$780$556$391$271$157
30 years$1,028$737$518$359$245$138
31 years$984$697$483$329$221$122
32 years$943$659$451$303$200$108
33 years$904$624$421$278$181$95
34 years$868$592$393$256$164$84
35 years$834$561$368$236$149$75
36 years$802$533$344$217$135$66
37 years$772$506$322$200$122$58
38 years$743$481$301$184$111$52
39 years$716$457$282$170$100$46
40 years$690$435$265$157$91$40
41 years$666$414$248$145$83$36
42 years$643$394$233$133$75$32
43 years$621$376$218$123$68$28
44 years$600$358$205$114$62$25
45 years$580$341$193$105$56$22
46 years$561$326$181$97$51$19
47 years$543$311$170$90$46$17
48 years$526$297$160$83$42$15
49 years$509$283$150$77$38$13
50 years$493$271$141$71$35$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $505,000, adding $4,373 every year, while hoping to spend $37,229 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: 65/29/6 Blend
70$505,000$505,000$505,000$505,000
71$561,021$534,256$526,428$596,657
72$578,633$520,823$504,452$607,465
73$596,795$505,484$480,492$614,425
74$615,522$488,107$454,443$621,043
75$634,831$468,550$426,193$627,283
76$654,741$446,666$395,627$633,104
77$675,269$422,297$362,625$638,465
78$696,433$395,276$327,060$643,320
79$718,254$365,429$288,800$647,622
80$740,749$332,569$247,709$651,319
81$763,941$296,500$203,642$654,358
82$787,848$257,013$156,449$656,680
83$812,492$213,891$105,974$658,225
84$837,895$166,900$52,053$658,927
85$864,079$115,797$0$658,718
86$891,066$60,322$0$657,875
87$918,880$203$0$659,549
88$947,543$0$0$660,332
89$977,081$0$0$680,844
90$1,007,518$0$0$702,046
91$1,038,879$0$0$723,891
92$1,071,189$0$0$746,397
93$1,104,475$0$0$769,581
94$1,138,762$0$0$793,462
95$1,174,079$0$0$818,059
96$1,210,451$0$0$843,390
97$1,247,907$0$0$869,474
98$1,286,474$0$0$896,331
99$1,326,180$0$0$923,980
100$1,367,053$0$0$952,440