Can I retire at age 71 with 507,000?

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 $507,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$41,868$41,495$41,131$40,776$40,429$40,057
2 years$20,727$20,341$19,966$19,604$19,252$18,877
3 years$13,680$13,293$12,920$12,560$12,214$11,848
4 years$10,158$9,772$9,402$9,049$8,711$8,357
5 years$8,045$7,661$7,296$6,950$6,622$6,280
6 years$6,637$6,256$5,897$5,558$5,240$4,911
7 years$5,632$5,254$4,900$4,570$4,261$3,946
8 years$4,878$4,503$4,156$3,834$3,535$3,233
9 years$4,292$3,921$3,579$3,265$2,977$2,688
10 years$3,824$3,456$3,121$2,815$2,537$2,261
11 years$3,441$3,077$2,747$2,450$2,182$1,918
12 years$3,122$2,762$2,438$2,149$1,891$1,640
13 years$2,852$2,496$2,178$1,897$1,649$1,410
14 years$2,621$2,268$1,957$1,684$1,445$1,218
15 years$2,421$2,072$1,767$1,502$1,272$1,057
16 years$2,246$1,901$1,602$1,345$1,125$921
17 years$2,092$1,751$1,458$1,208$997$804
18 years$1,955$1,618$1,331$1,089$887$704
19 years$1,833$1,500$1,218$984$790$618
20 years$1,723$1,393$1,118$891$706$543
21 years$1,624$1,298$1,028$809$632$478
22 years$1,534$1,212$948$735$566$422
23 years$1,451$1,133$875$670$508$372
24 years$1,376$1,062$809$611$457$329
25 years$1,307$996$750$558$411$291
26 years$1,243$936$695$510$370$258
27 years$1,185$881$646$467$334$229
28 years$1,130$830$600$428$301$203
29 years$1,079$783$559$392$272$180
30 years$1,032$740$520$360$246$160
31 years$988$699$485$331$222$142
32 years$947$662$453$304$201$126
33 years$908$627$423$279$182$112
34 years$872$594$395$257$165$100
35 years$837$563$369$237$149$89
36 years$805$535$345$218$135$79
37 years$775$508$323$201$122$70
38 years$746$483$303$185$111$62
39 years$719$459$284$171$101$55
40 years$693$437$266$157$91$49
41 years$669$416$249$145$83$44
42 years$645$396$234$134$75$39
43 years$623$377$219$124$68$35
44 years$602$360$206$114$62$31
45 years$582$343$193$105$56$28
46 years$563$327$182$97$51$25
47 years$545$312$171$90$46$22
48 years$528$298$160$83$42$20
49 years$511$285$151$77$38$17
50 years$495$272$142$71$35$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $507,000, adding $3,442 every year, while hoping to spend $48,530 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: 36/48/16 Blend
70$507,000$507,000$507,000$507,000
71$562,264$535,393$527,535$579,643
72$567,980$509,992$493,572$567,125
73$572,652$481,720$456,844$548,776
74$576,122$450,384$417,209$527,930
75$578,216$415,783$374,515$504,392
76$578,739$377,700$328,606$477,950
77$577,473$335,911$279,317$448,376
78$574,180$290,174$226,478$415,427
79$568,590$240,237$169,910$378,840
80$560,410$185,833$109,425$338,332
81$549,311$126,678$44,830$293,598
82$534,930$62,474$0$244,311
83$516,864$0$0$194,233
84$494,667$0$0$151,048
85$467,846$0$0$138,984
86$435,856$0$0$124,825
87$398,091$0$0$108,328
88$353,885$0$0$89,228
89$302,497$0$0$67,230
90$243,113$0$0$42,008
91$174,829$0$0$13,204
92$96,648$0$0$0
93$7,468$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0