Can I retire at age 71 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$49,217$48,779$48,351$47,934$47,526$45,749
2 years$24,365$23,911$23,471$23,045$22,631$20,861
3 years$16,082$15,626$15,188$14,765$14,358$12,651
4 years$11,941$11,487$11,053$10,637$10,240$8,609
5 years$9,457$9,006$8,577$8,171$7,785$6,233
6 years$7,802$7,354$6,932$6,534$6,160$4,689
7 years$6,620$6,176$5,760$5,372$5,009$3,620
8 years$5,734$5,294$4,885$4,506$4,156$2,845
9 years$5,046$4,609$4,208$3,839$3,500$2,267
10 years$4,495$4,063$3,668$3,309$2,982$1,824
11 years$4,045$3,617$3,230$2,880$2,565$1,480
12 years$3,670$3,246$2,866$2,526$2,222$1,208
13 years$3,353$2,934$2,561$2,230$1,938$990
14 years$3,081$2,667$2,301$1,980$1,699$815
15 years$2,846$2,436$2,077$1,765$1,496$673
16 years$2,641$2,235$1,883$1,581$1,322$558
17 years$2,459$2,058$1,714$1,420$1,172$463
18 years$2,299$1,902$1,564$1,280$1,042$385
19 years$2,155$1,763$1,432$1,157$929$320
20 years$2,026$1,638$1,314$1,047$830$267
21 years$1,909$1,526$1,209$951$743$222
22 years$1,803$1,424$1,114$864$666$186
23 years$1,706$1,332$1,029$787$597$155
24 years$1,618$1,248$951$718$537$130
25 years$1,537$1,171$881$656$483$108
26 years$1,462$1,101$817$600$435$91
27 years$1,393$1,036$759$549$392$76
28 years$1,328$976$706$503$354$64
29 years$1,269$921$657$461$320$53
30 years$1,213$870$612$423$289$45
31 years$1,161$822$570$389$261$37
32 years$1,113$778$532$357$236$31
33 years$1,067$737$497$328$214$26
34 years$1,025$698$464$302$194$22
35 years$984$662$434$278$175$18
36 years$947$629$406$256$159$15
37 years$911$597$380$236$144$13
38 years$877$567$356$218$131$11
39 years$845$540$333$201$118$9
40 years$815$513$312$185$107$8
41 years$786$489$293$171$97$6
42 years$759$465$275$158$88$5
43 years$733$443$258$145$80$4
44 years$708$423$242$134$73$4
45 years$685$403$227$124$66$3
46 years$662$384$213$115$60$3
47 years$641$367$201$106$55$2
48 years$620$350$188$98$49$2
49 years$601$334$177$90$45$2
50 years$582$320$167$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $596,000, adding $3,694 every year, while hoping to spend $36,647 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: 79/7/14 Blend
70$596,000$596,000$596,000$596,000
71$660,602$629,014$619,776$710,633
72$688,992$620,844$601,547$735,907
73$719,048$611,045$581,478$758,560
74$750,904$599,499$559,470$782,373
75$784,702$586,080$535,418$807,447
76$820,600$570,656$509,213$833,894
77$858,768$553,085$480,739$861,836
78$899,395$533,220$449,877$891,409
79$942,687$510,901$416,501$922,761
80$988,869$485,963$380,481$956,058
81$1,038,187$458,228$341,681$991,483
82$1,090,912$427,511$299,957$1,029,235
83$1,147,340$393,614$255,160$1,069,538
84$1,207,796$356,328$207,135$1,112,636
85$1,272,636$315,433$155,720$1,158,801
86$1,342,252$270,697$100,743$1,208,330
87$1,417,072$221,872$42,029$1,261,555
88$1,497,569$168,698$0$1,318,840
89$1,584,258$110,902$0$1,383,668
90$1,677,709$48,193$0$1,460,304
91$1,778,546$0$0$1,542,982
92$1,887,454$0$0$1,633,796
93$2,005,186$0$0$1,735,996
94$2,132,572$0$0$1,846,590
95$2,270,520$0$0$1,966,371
96$2,420,033$0$0$2,096,210
97$2,582,211$0$0$2,237,064
98$2,758,264$0$0$2,389,986
99$2,949,523$0$0$2,556,137
100$3,157,453$0$0$2,736,789