Can I retire at age 71 with 516,000?

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 $516,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$42,611$42,231$41,861$41,499$41,147$40,973
2 years$21,094$20,702$20,321$19,952$19,594$19,419
3 years$13,923$13,529$13,149$12,783$12,431$12,260
4 years$10,338$9,945$9,569$9,210$8,866$8,700
5 years$8,188$7,797$7,426$7,074$6,740$6,579
6 years$6,755$6,367$6,001$5,657$5,333$5,178
7 years$5,732$5,347$4,987$4,651$4,337$4,188
8 years$4,965$4,583$4,229$3,902$3,598$3,455
9 years$4,368$3,991$3,643$3,323$3,030$2,893
10 years$3,891$3,517$3,176$2,865$2,582$2,450
11 years$3,502$3,131$2,796$2,493$2,220$2,095
12 years$3,177$2,811$2,481$2,187$1,924$1,804
13 years$2,903$2,540$2,217$1,931$1,678$1,563
14 years$2,668$2,309$1,992$1,714$1,471$1,361
15 years$2,464$2,109$1,798$1,528$1,295$1,191
16 years$2,286$1,935$1,631$1,369$1,145$1,046
17 years$2,129$1,782$1,484$1,230$1,015$921
18 years$1,990$1,647$1,354$1,108$902$813
19 years$1,866$1,526$1,240$1,001$804$720
20 years$1,754$1,418$1,138$907$718$638
21 years$1,653$1,321$1,047$823$643$567
22 years$1,561$1,233$965$748$576$505
23 years$1,477$1,153$891$682$517$450
24 years$1,401$1,081$824$622$465$401
25 years$1,330$1,014$763$568$418$358
26 years$1,266$953$708$519$377$320
27 years$1,206$897$657$475$340$286
28 years$1,150$845$611$435$307$256
29 years$1,098$797$568$399$277$230
30 years$1,050$753$529$366$250$206
31 years$1,005$712$494$336$226$185
32 years$963$674$461$309$205$166
33 years$924$638$430$284$185$149
34 years$887$605$402$262$168$134
35 years$852$573$376$241$152$120
36 years$820$544$351$222$138$108
37 years$789$517$329$204$125$97
38 years$759$491$308$188$113$87
39 years$732$467$289$174$102$78
40 years$705$444$270$160$93$70
41 years$681$423$254$148$84$63
42 years$657$403$238$136$77$57
43 years$634$384$223$126$69$51
44 years$613$366$210$116$63$46
45 years$593$349$197$107$57$42
46 years$573$333$185$99$52$37
47 years$555$318$174$92$47$34
48 years$537$303$163$85$43$30
49 years$520$290$153$78$39$27
50 years$504$277$144$72$35$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $516,000, adding $4,667 every year, while hoping to spend $29,728 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: 69/21/10 Blend
70$516,000$516,000$516,000$516,000
71$573,446$546,098$538,100$611,545
72$600,307$541,226$524,496$632,553
73$628,912$535,120$509,440$651,485
74$659,406$527,686$492,852$671,407
75$691,951$518,828$474,648$692,410
76$726,722$508,443$454,740$714,596
77$763,912$496,420$433,038$738,077
78$803,731$482,646$409,445$762,980
79$846,412$466,996$383,862$789,443
80$892,209$449,341$356,184$817,620
81$941,399$429,544$326,301$847,682
82$994,290$407,460$294,101$879,817
83$1,051,218$382,935$259,463$914,235
84$1,112,550$355,807$222,263$951,168
85$1,178,693$325,904$182,372$990,873
86$1,250,091$293,045$139,652$1,033,635
87$1,327,234$257,038$93,964$1,079,768
88$1,410,658$217,679$45,159$1,129,621
89$1,500,956$174,756$0$1,183,581
90$1,598,775$128,041$0$1,242,815
91$1,704,831$77,296$0$1,312,245
92$1,819,909$22,269$0$1,387,591
93$1,944,872$0$0$1,469,451
94$2,080,670$0$0$1,567,105
95$2,228,349$0$0$1,678,924
96$2,389,057$0$0$1,800,636
97$2,564,060$0$0$1,933,203
98$2,754,750$0$0$2,077,681
99$2,962,659$0$0$2,235,236
100$3,189,472$0$0$2,407,149