Can I retire at age 71 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$49,135$48,697$48,270$47,853$47,446$46,450
2 years$24,324$23,871$23,432$23,006$22,593$21,595
3 years$16,055$15,600$15,162$14,740$14,334$13,364
4 years$11,921$11,468$11,034$10,620$10,223$9,289
5 years$9,442$8,991$8,563$8,157$7,772$6,876
6 years$7,789$7,342$6,920$6,523$6,149$5,293
7 years$6,609$6,165$5,751$5,363$5,001$4,184
8 years$5,725$5,285$4,877$4,499$4,149$3,372
9 years$5,037$4,602$4,201$3,832$3,494$2,755
10 years$4,487$4,056$3,662$3,303$2,977$2,277
11 years$4,038$3,611$3,224$2,875$2,560$1,897
12 years$3,663$3,241$2,861$2,522$2,219$1,592
13 years$3,347$2,929$2,556$2,226$1,935$1,343
14 years$3,076$2,662$2,297$1,976$1,696$1,138
15 years$2,841$2,432$2,074$1,762$1,493$968
16 years$2,636$2,231$1,880$1,578$1,320$826
17 years$2,455$2,055$1,711$1,418$1,170$707
18 years$2,295$1,899$1,562$1,278$1,041$606
19 years$2,151$1,760$1,430$1,155$927$521
20 years$2,022$1,635$1,312$1,046$828$448
21 years$1,906$1,523$1,207$949$741$386
22 years$1,800$1,422$1,112$863$664$333
23 years$1,703$1,330$1,027$786$596$288
24 years$1,615$1,246$950$717$536$248
25 years$1,534$1,169$880$655$482$215
26 years$1,459$1,099$816$599$435$186
27 years$1,390$1,034$758$548$392$161
28 years$1,326$975$704$502$354$139
29 years$1,267$919$655$460$319$121
30 years$1,211$868$611$422$288$105
31 years$1,159$821$569$388$261$91
32 years$1,111$777$531$357$236$79
33 years$1,066$735$496$328$213$68
34 years$1,023$697$463$302$193$59
35 years$983$661$433$278$175$51
36 years$945$628$405$256$159$45
37 years$909$596$379$236$144$39
38 years$876$566$355$217$130$34
39 years$844$539$333$200$118$29
40 years$813$512$312$185$107$25
41 years$785$488$292$170$97$22
42 years$758$465$274$157$88$19
43 years$732$443$257$145$80$17
44 years$707$422$242$134$73$14
45 years$683$402$227$124$66$13
46 years$661$384$213$114$60$11
47 years$640$366$200$106$54$9
48 years$619$350$188$98$49$8
49 years$600$334$177$90$45$7
50 years$581$319$166$83$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $595,000, adding $2,496 every year, while hoping to spend $30,412 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: 42/42/16 Blend
70$595,000$595,000$595,000$595,000
71$658,265$626,730$617,507$682,730
72$693,049$625,081$605,835$698,576
73$730,363$622,333$592,754$712,542
74$770,431$618,398$578,182$727,017
75$813,502$613,187$562,038$742,060
76$859,847$606,601$544,234$757,742
77$909,766$598,538$524,680$774,140
78$963,586$588,890$503,281$791,343
79$1,021,668$577,542$479,937$809,450
80$1,084,407$564,371$454,544$828,574
81$1,152,240$549,249$426,995$848,841
82$1,225,645$532,038$397,175$870,395
83$1,305,147$512,594$364,966$893,394
84$1,391,324$490,763$330,245$918,019
85$1,484,812$466,384$292,882$944,472
86$1,586,311$439,285$252,741$972,978
87$1,696,589$409,285$209,683$1,003,789
88$1,816,493$376,191$163,559$1,037,190
89$1,946,953$339,802$114,215$1,073,495
90$2,088,992$299,902$61,492$1,113,058
91$2,243,738$256,267$5,221$1,156,273
92$2,412,431$208,655$0$1,203,580
93$2,596,436$156,816$0$1,264,830
94$2,797,254$100,481$0$1,332,768
95$3,016,538$39,370$0$1,407,142
96$3,256,110$0$0$1,488,664
97$3,517,972$0$0$1,590,517
98$3,804,331$0$0$1,721,866
99$4,117,616$0$0$1,865,641
100$4,460,500$0$0$2,023,076