Can I retire at age 71 with 582,000?

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 $582,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$48,061$47,633$47,215$46,808$46,409$45,887
2 years$23,793$23,349$22,920$22,504$22,100$21,573
3 years$15,704$15,259$14,831$14,418$14,021$13,507
4 years$11,661$11,217$10,793$10,388$10,000$9,503
5 years$9,235$8,794$8,376$7,979$7,602$7,123
6 years$7,619$7,181$6,769$6,381$6,015$5,555
7 years$6,465$6,031$5,625$5,246$4,892$4,451
8 years$5,600$5,169$4,770$4,401$4,058$3,637
9 years$4,927$4,501$4,109$3,748$3,418$3,015
10 years$4,389$3,967$3,582$3,231$2,912$2,528
11 years$3,950$3,532$3,154$2,812$2,504$2,138
12 years$3,583$3,170$2,799$2,467$2,170$1,822
13 years$3,274$2,865$2,501$2,178$1,893$1,562
14 years$3,009$2,604$2,247$1,933$1,659$1,345
15 years$2,779$2,379$2,028$1,724$1,461$1,163
16 years$2,578$2,183$1,839$1,544$1,291$1,009
17 years$2,402$2,010$1,674$1,387$1,145$879
18 years$2,245$1,857$1,528$1,250$1,018$767
19 years$2,104$1,721$1,399$1,129$907$670
20 years$1,978$1,600$1,284$1,023$810$587
21 years$1,864$1,490$1,181$928$725$515
22 years$1,761$1,391$1,088$844$650$453
23 years$1,666$1,301$1,005$769$583$398
24 years$1,580$1,219$929$701$524$350
25 years$1,500$1,144$861$640$472$309
26 years$1,427$1,075$798$585$425$272
27 years$1,360$1,012$741$536$383$240
28 years$1,297$953$689$491$346$212
29 years$1,239$899$641$450$312$188
30 years$1,185$849$597$413$282$166
31 years$1,134$803$557$379$255$147
32 years$1,087$760$519$349$231$130
33 years$1,042$719$485$321$209$115
34 years$1,001$682$453$295$189$102
35 years$961$647$424$272$171$90
36 years$924$614$396$250$155$80
37 years$889$583$371$230$141$71
38 years$856$554$347$212$127$63
39 years$825$527$325$196$116$56
40 years$796$501$305$181$105$49
41 years$768$477$286$167$95$44
42 years$741$454$268$154$86$39
43 years$716$433$252$142$78$34
44 years$691$413$236$131$71$30
45 years$669$394$222$121$65$27
46 years$647$375$208$112$59$24
47 years$626$358$196$103$53$21
48 years$606$342$184$95$48$19
49 years$587$327$173$88$44$17
50 years$568$312$163$82$40$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $582,000, adding $3,697 every year, while hoping to spend $21,448 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: 67/17/16 Blend
70$582,000$582,000$582,000$582,000
71$645,177$614,331$605,310$685,695
72$688,165$621,613$602,768$720,498
73$734,819$628,533$599,421$755,683
74$785,489$635,050$595,221$793,624
75$840,563$641,122$590,115$834,589
76$900,466$646,702$584,049$878,874
77$965,665$651,742$576,967$926,808
78$1,036,675$656,190$568,807$978,750
79$1,114,063$659,989$559,509$1,035,099
80$1,198,450$663,082$549,005$1,096,294
81$1,290,524$665,405$537,229$1,162,818
82$1,391,039$666,891$524,108$1,235,205
83$1,500,826$667,470$509,566$1,314,045
84$1,620,801$667,067$493,527$1,399,986
85$1,751,970$665,600$475,908$1,493,743
86$1,895,442$662,986$456,622$1,596,108
87$2,052,439$659,134$435,581$1,707,950
88$2,224,305$653,949$412,690$1,830,229
89$2,412,520$647,329$387,851$1,964,005
90$2,618,716$639,166$360,963$2,110,445
91$2,844,687$629,348$331,917$2,270,838
92$3,092,412$617,752$300,603$2,446,603
93$3,364,067$604,252$266,903$2,639,307
94$3,662,053$588,711$230,695$2,850,676
95$3,989,011$570,987$191,852$3,082,616
96$4,347,852$550,927$150,241$3,337,224
97$4,741,782$528,371$105,723$3,616,819
98$5,174,331$503,149$58,152$3,923,951
99$5,649,391$475,081$7,378$4,261,437
100$6,171,246$443,977$0$4,632,381