Can I retire at age 71 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$48,722$48,288$47,864$47,451$47,047$46,751
2 years$24,120$23,670$23,235$22,813$22,404$22,104
3 years$15,920$15,469$15,035$14,616$14,214$13,921
4 years$11,821$11,371$10,941$10,530$10,137$9,854
5 years$9,362$8,915$8,491$8,088$7,706$7,433
6 years$7,724$7,280$6,862$6,468$6,098$5,834
7 years$6,554$6,114$5,702$5,318$4,959$4,706
8 years$5,677$5,241$4,836$4,461$4,114$3,871
9 years$4,995$4,563$4,165$3,800$3,465$3,232
10 years$4,450$4,022$3,631$3,276$2,952$2,729
11 years$4,004$3,580$3,197$2,851$2,539$2,326
12 years$3,633$3,214$2,837$2,500$2,200$1,997
13 years$3,319$2,904$2,535$2,208$1,919$1,725
14 years$3,050$2,640$2,278$1,960$1,682$1,497
15 years$2,817$2,412$2,056$1,748$1,481$1,305
16 years$2,614$2,213$1,864$1,565$1,309$1,142
17 years$2,435$2,038$1,697$1,406$1,160$1,002
18 years$2,275$1,883$1,549$1,267$1,032$882
19 years$2,133$1,745$1,418$1,145$920$778
20 years$2,005$1,622$1,301$1,037$821$687
21 years$1,890$1,510$1,197$941$735$609
22 years$1,785$1,410$1,103$856$659$539
23 years$1,689$1,319$1,018$779$591$479
24 years$1,602$1,236$942$711$532$426
25 years$1,521$1,159$872$649$478$379
26 years$1,447$1,090$809$593$431$337
27 years$1,378$1,026$751$543$389$300
28 years$1,315$966$698$498$351$268
29 years$1,256$912$650$456$317$239
30 years$1,201$861$605$419$286$213
31 years$1,150$814$564$385$259$191
32 years$1,102$770$527$354$234$170
33 years$1,057$729$492$325$212$152
34 years$1,014$691$459$299$192$136
35 years$975$656$430$275$174$122
36 years$937$622$402$254$157$109
37 years$902$591$376$234$143$98
38 years$868$562$352$215$129$87
39 years$837$534$330$199$117$78
40 years$807$508$309$183$106$70
41 years$778$484$290$169$96$63
42 years$751$461$272$156$88$56
43 years$725$439$255$144$79$50
44 years$701$418$240$133$72$45
45 years$678$399$225$123$65$40
46 years$655$381$211$113$59$36
47 years$634$363$199$105$54$32
48 years$614$347$187$97$49$29
49 years$595$331$175$89$45$26
50 years$576$316$165$83$40$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $590,000, adding $4,192 every year, while hoping to spend $43,682 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: 21/49/30 Blend
70$590,000$590,000$590,000$590,000
71$654,504$623,234$614,089$661,972
72$674,786$607,295$588,184$653,260
73$695,673$589,111$559,947$640,073
74$717,180$568,526$529,253$625,037
75$739,323$545,375$495,974$608,029
76$762,118$519,482$459,973$588,922
77$785,581$490,663$421,109$567,581
78$809,727$458,723$379,233$543,862
79$834,573$423,454$334,191$517,616
80$860,134$384,638$285,821$488,683
81$886,426$342,043$233,954$456,896
82$913,464$295,426$178,414$422,079
83$941,263$244,528$119,017$384,045
84$969,839$189,077$55,571$342,599
85$999,206$128,785$0$297,533
86$1,029,377$63,347$0$252,515
87$1,060,365$0$0$222,665
88$1,092,183$0$0$194,080
89$1,124,842$0$0$199,790
90$1,158,351$0$0$205,638
91$1,192,720$0$0$211,625
92$1,227,955$0$0$217,751
93$1,264,062$0$0$224,014
94$1,301,043$0$0$230,415
95$1,338,901$0$0$236,949
96$1,377,632$0$0$243,616
97$1,417,231$0$0$250,412
98$1,457,691$0$0$257,332
99$1,498,999$0$0$264,371
100$1,541,138$0$0$271,523