Can I retire at age 71 with 557,000?

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 $557,000?

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$45,997$45,587$45,187$44,797$44,416$43,879
2 years$22,771$22,346$21,935$21,537$21,150$20,610
3 years$15,030$14,604$14,194$13,799$13,419$12,892
4 years$11,160$10,735$10,329$9,941$9,570$9,061
5 years$8,839$8,417$8,016$7,636$7,275$6,785
6 years$7,292$6,873$6,478$6,107$5,757$5,286
7 years$6,187$5,772$5,383$5,021$4,682$4,230
8 years$5,359$4,947$4,566$4,212$3,884$3,452
9 years$4,715$4,308$3,932$3,587$3,271$2,859
10 years$4,201$3,797$3,428$3,092$2,787$2,394
11 years$3,780$3,380$3,018$2,691$2,397$2,023
12 years$3,429$3,034$2,679$2,361$2,077$1,721
13 years$3,133$2,742$2,393$2,084$1,811$1,473
14 years$2,879$2,492$2,150$1,850$1,588$1,267
15 years$2,660$2,277$1,941$1,650$1,398$1,094
16 years$2,468$2,089$1,760$1,477$1,236$948
17 years$2,298$1,924$1,602$1,327$1,095$824
18 years$2,148$1,778$1,462$1,196$974$718
19 years$2,014$1,647$1,338$1,081$868$627
20 years$1,893$1,531$1,228$979$775$548
21 years$1,784$1,426$1,130$888$694$480
22 years$1,685$1,331$1,041$808$622$421
23 years$1,595$1,245$962$736$558$370
24 years$1,512$1,166$889$671$502$325
25 years$1,436$1,095$824$613$452$286
26 years$1,366$1,029$764$560$407$252
27 years$1,301$968$709$513$367$222
28 years$1,241$912$659$470$331$196
29 years$1,186$861$614$431$299$173
30 years$1,134$813$572$395$270$153
31 years$1,085$768$533$363$244$135
32 years$1,040$727$497$334$221$119
33 years$998$689$464$307$200$105
34 years$958$653$434$282$181$93
35 years$920$619$406$260$164$82
36 years$885$587$379$239$148$73
37 years$851$558$355$221$135$64
38 years$820$530$332$203$122$57
39 years$790$504$312$187$111$50
40 years$762$480$292$173$100$45
41 years$735$457$274$160$91$39
42 years$709$435$257$147$83$35
43 years$685$414$241$136$75$31
44 years$662$395$226$125$68$27
45 years$640$377$212$116$62$24
46 years$619$359$199$107$56$21
47 years$599$343$187$99$51$19
48 years$580$327$176$91$46$17
49 years$561$313$166$84$42$15
50 years$544$299$156$78$38$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $557,000, adding $3,166 every year, while hoping to spend $28,457 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: 48/39/13 Blend
70$557,000$557,000$557,000$557,000
71$617,080$587,559$578,925$644,332
72$649,744$586,071$568,041$661,968
73$684,786$583,557$555,839$677,905
74$722,418$579,935$542,244$694,574
75$762,875$575,122$527,179$712,054
76$806,411$569,026$510,562$730,432
77$853,308$561,551$492,309$749,807
78$903,875$552,597$472,331$770,288
79$958,451$542,054$450,534$791,998
80$1,017,408$529,811$426,823$815,075
81$1,081,157$515,745$401,095$839,673
82$1,150,147$499,728$373,244$865,963
83$1,224,874$481,627$343,159$894,137
84$1,305,882$461,297$310,725$924,409
85$1,393,768$438,587$275,821$957,018
86$1,489,191$413,337$238,320$992,228
87$1,592,876$385,377$198,091$1,030,336
88$1,705,617$354,529$154,995$1,071,671
89$1,828,292$320,602$108,889$1,116,600
90$1,961,863$283,397$59,622$1,165,531
91$2,107,392$242,703$7,038$1,218,917
92$2,266,045$198,294$0$1,277,262
93$2,439,108$149,937$0$1,347,935
94$2,627,994$97,381$0$1,426,233
95$2,834,259$40,362$0$1,511,895
96$3,059,617$0$0$1,605,714
97$3,305,953$0$0$1,717,749
98$3,575,345$0$0$1,859,271
99$3,870,079$0$0$2,014,167
100$4,192,672$0$0$2,183,768