Can I retire at age 71 with 563,000?

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 $563,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$46,492$46,078$45,674$45,279$44,894$43,863
2 years$23,016$22,587$22,172$21,769$21,378$20,344
3 years$15,191$14,761$14,347$13,948$13,563$12,560
4 years$11,280$10,851$10,441$10,048$9,673$8,708
5 years$8,934$8,507$8,102$7,718$7,354$6,429
6 years$7,370$6,947$6,548$6,172$5,819$4,935
7 years$6,254$5,834$5,441$5,075$4,732$3,891
8 years$5,417$5,001$4,615$4,257$3,926$3,126
9 years$4,766$4,354$3,975$3,626$3,306$2,547
10 years$4,246$3,838$3,465$3,126$2,817$2,098
11 years$3,821$3,417$3,051$2,720$2,423$1,743
12 years$3,466$3,067$2,707$2,386$2,099$1,457
13 years$3,167$2,771$2,419$2,106$1,831$1,226
14 years$2,910$2,519$2,173$1,870$1,605$1,035
15 years$2,688$2,301$1,962$1,668$1,413$878
16 years$2,494$2,111$1,779$1,493$1,249$746
17 years$2,323$1,944$1,619$1,342$1,107$636
18 years$2,171$1,797$1,478$1,209$985$543
19 years$2,036$1,665$1,353$1,092$878$465
20 years$1,913$1,547$1,242$989$784$399
21 years$1,803$1,441$1,142$898$701$342
22 years$1,703$1,345$1,053$816$629$294
23 years$1,612$1,258$972$744$564$253
24 years$1,528$1,179$899$678$507$218
25 years$1,452$1,106$832$619$456$188
26 years$1,381$1,040$772$566$411$162
27 years$1,315$979$717$518$371$139
28 years$1,255$922$666$475$335$120
29 years$1,198$870$620$436$302$104
30 years$1,146$822$578$400$273$90
31 years$1,097$777$539$367$247$77
32 years$1,051$735$503$337$223$67
33 years$1,008$696$469$310$202$58
34 years$968$660$438$285$183$50
35 years$930$626$410$263$166$43
36 years$894$594$383$242$150$37
37 years$860$564$359$223$136$32
38 years$829$536$336$206$123$28
39 years$798$510$315$190$112$24
40 years$770$485$295$175$101$21
41 years$743$462$277$161$92$18
42 years$717$440$260$149$84$16
43 years$692$419$244$137$76$13
44 years$669$399$229$127$69$12
45 years$647$381$215$117$62$10
46 years$625$363$202$108$57$9
47 years$605$347$189$100$51$8
48 years$586$331$178$92$47$7
49 years$567$316$167$85$42$6
50 years$550$302$157$79$39$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $563,000, adding $5,070 every year, while hoping to spend $48,427 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: 86/6/8 Blend
70$563,000$563,000$563,000$563,000
71$625,656$595,817$587,090$678,500
72$637,947$573,486$555,232$691,406
73$649,868$548,438$520,683$698,423
74$661,332$520,488$483,303$704,593
75$672,237$489,442$442,943$709,799
76$682,474$455,093$399,450$713,909
77$691,917$417,223$352,663$716,778
78$700,429$375,603$302,413$718,247
79$707,853$329,988$248,525$718,140
80$714,018$280,122$190,814$716,261
81$718,732$225,732$129,090$712,396
82$721,781$166,531$63,153$706,308
83$722,928$102,216$0$697,736
84$721,909$32,467$0$687,008
85$718,431$0$0$678,983
86$712,169$0$0$670,778
87$702,763$0$0$661,733
88$689,813$0$0$649,325
89$672,876$0$0$633,134
90$651,462$0$0$612,695
91$625,027$0$0$587,494
92$592,969$0$0$556,960
93$554,624$0$0$520,462
94$509,255$0$0$477,301
95$456,047$0$0$426,707
96$394,099$0$0$367,825
97$322,416$0$0$299,711
98$239,897$0$0$221,322
99$145,326$0$0$131,505
100$37,358$0$0$28,986