Can I retire at age 71 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$48,969$48,533$48,108$47,692$47,287$46,522
2 years$24,242$23,791$23,353$22,929$22,517$21,750
3 years$16,001$15,548$15,111$14,691$14,286$13,538
4 years$11,881$11,429$10,997$10,584$10,189$9,467
5 years$9,410$8,961$8,534$8,129$7,745$7,052
6 years$7,763$7,317$6,897$6,501$6,129$5,464
7 years$6,587$6,145$5,731$5,345$4,984$4,349
8 years$5,705$5,267$4,861$4,484$4,135$3,529
9 years$5,020$4,586$4,186$3,819$3,482$2,905
10 years$4,472$4,042$3,650$3,292$2,967$2,418
11 years$4,024$3,599$3,213$2,865$2,552$2,030
12 years$3,651$3,230$2,852$2,513$2,211$1,716
13 years$3,336$2,919$2,548$2,219$1,928$1,460
14 years$3,066$2,653$2,289$1,970$1,690$1,247
15 years$2,832$2,424$2,067$1,756$1,488$1,070
16 years$2,627$2,224$1,874$1,573$1,315$921
17 years$2,447$2,048$1,705$1,413$1,166$795
18 years$2,287$1,892$1,557$1,273$1,037$687
19 years$2,144$1,754$1,425$1,151$924$596
20 years$2,015$1,630$1,308$1,042$826$517
21 years$1,899$1,518$1,203$946$739$450
22 years$1,794$1,417$1,109$860$662$391
23 years$1,698$1,325$1,024$783$594$341
24 years$1,610$1,242$947$714$534$298
25 years$1,529$1,165$877$652$481$260
26 years$1,454$1,095$813$596$433$227
27 years$1,385$1,031$755$546$390$198
28 years$1,322$971$702$500$352$174
29 years$1,262$916$653$459$318$152
30 years$1,207$865$609$421$287$133
31 years$1,155$818$567$387$260$116
32 years$1,107$774$529$355$235$102
33 years$1,062$733$494$327$213$89
34 years$1,019$695$462$301$193$78
35 years$979$659$432$277$174$69
36 years$942$625$404$255$158$60
37 years$906$594$378$235$143$53
38 years$873$565$354$216$130$46
39 years$841$537$332$200$118$41
40 years$811$511$311$184$107$36
41 years$782$486$291$170$97$31
42 years$755$463$273$157$88$27
43 years$729$441$257$145$80$24
44 years$705$421$241$134$72$21
45 years$681$401$226$123$66$19
46 years$659$383$212$114$60$16
47 years$637$365$200$105$54$14
48 years$617$348$188$97$49$13
49 years$598$333$176$90$45$11
50 years$579$318$166$83$41$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $593,000, adding $4,576 every year, while hoping to spend $37,087 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: 64/23/13 Blend
70$593,000$593,000$593,000$593,000
71$658,206$626,777$617,586$698,036
72$685,883$618,029$598,814$716,498
73$715,140$607,609$578,171$731,945
74$746,098$595,396$555,555$747,898
75$778,893$581,263$530,858$764,406
76$813,667$565,073$503,969$781,523
77$850,582$546,682$474,773$799,313
78$889,811$525,938$443,147$817,843
79$931,543$502,681$408,965$837,194
80$975,988$476,740$372,092$857,452
81$1,023,374$447,935$332,392$878,717
82$1,073,949$416,075$289,718$901,100
83$1,127,988$380,959$243,920$924,724
84$1,185,791$342,374$194,840$949,729
85$1,247,686$300,095$142,311$976,270
86$1,314,034$253,884$86,163$1,004,521
87$1,385,231$203,490$26,215$1,034,678
88$1,461,711$148,647$0$1,066,955
89$1,543,950$89,075$0$1,106,835
90$1,632,471$24,478$0$1,153,569
91$1,727,850$0$0$1,203,849
92$1,830,716$0$0$1,269,542
93$1,941,763$0$0$1,347,181
94$2,061,753$0$0$1,431,105
95$2,191,523$0$0$1,521,904
96$2,331,993$0$0$1,620,227
97$2,484,174$0$0$1,726,786
98$2,649,178$0$0$1,842,365
99$2,828,229$0$0$1,967,825
100$3,022,671$0$0$2,104,115