Can I retire at age 71 with 599,000?

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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$49,465$49,024$48,594$48,175$47,765$47,306
2 years$24,488$24,031$23,590$23,161$22,745$22,282
3 years$16,163$15,705$15,264$14,839$14,431$13,979
4 years$12,001$11,545$11,108$10,691$10,292$9,855
5 years$9,505$9,051$8,620$8,212$7,824$7,402
6 years$7,841$7,391$6,967$6,567$6,191$5,785
7 years$6,654$6,207$5,789$5,399$5,035$4,646
8 years$5,763$5,320$4,910$4,529$4,177$3,804
9 years$5,071$4,632$4,229$3,858$3,517$3,161
10 years$4,517$4,083$3,687$3,325$2,997$2,657
11 years$4,065$3,635$3,246$2,894$2,578$2,253
12 years$3,688$3,263$2,881$2,539$2,234$1,925
13 years$3,369$2,949$2,574$2,241$1,948$1,654
14 years$3,097$2,680$2,312$1,989$1,707$1,428
15 years$2,860$2,448$2,088$1,774$1,503$1,239
16 years$2,654$2,246$1,893$1,589$1,329$1,078
17 years$2,472$2,069$1,722$1,427$1,178$941
18 years$2,310$1,912$1,572$1,286$1,047$823
19 years$2,166$1,772$1,439$1,162$934$722
20 years$2,036$1,646$1,321$1,053$834$634
21 years$1,918$1,533$1,215$955$746$558
22 years$1,812$1,431$1,120$869$669$492
23 years$1,715$1,339$1,034$791$600$434
24 years$1,626$1,254$956$722$540$383
25 years$1,544$1,177$886$659$486$339
26 years$1,469$1,106$821$603$437$300
27 years$1,400$1,041$763$552$394$265
28 years$1,335$981$709$505$356$235
29 years$1,275$926$660$463$321$208
30 years$1,219$874$615$425$290$185
31 years$1,167$826$573$391$263$164
32 years$1,118$782$535$359$237$146
33 years$1,073$740$499$330$215$129
34 years$1,030$702$466$304$195$115
35 years$989$666$436$280$176$102
36 years$951$632$408$257$160$91
37 years$915$600$382$237$145$81
38 years$881$570$358$219$131$72
39 years$849$542$335$202$119$64
40 years$819$516$314$186$108$57
41 years$790$491$294$172$98$50
42 years$763$468$276$158$89$45
43 years$737$446$259$146$81$40
44 years$712$425$243$135$73$36
45 years$688$405$228$125$66$32
46 years$665$386$215$115$60$28
47 years$644$369$202$106$55$25
48 years$623$352$189$98$50$22
49 years$604$336$178$91$45$20
50 years$585$321$167$84$41$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $599,000, adding $3,822 every year, while hoping to spend $20,989 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: 54/25/21 Blend
70$599,000$599,000$599,000$599,000
71$664,040$632,293$623,009$695,898
72$709,440$640,944$621,548$726,820
73$758,768$649,314$619,334$757,940
74$812,401$657,369$616,320$791,369
75$870,756$665,071$612,457$827,332
76$934,291$672,378$607,693$866,080
77$1,003,511$679,246$601,972$907,890
78$1,078,969$685,629$595,239$953,068
79$1,161,277$691,478$587,433$1,001,950
80$1,251,107$696,740$578,491$1,054,910
81$1,349,197$701,358$568,347$1,112,358
82$1,456,363$705,272$556,935$1,174,749
83$1,573,500$708,418$544,180$1,242,583
84$1,701,596$710,730$530,009$1,316,415
85$1,841,737$712,133$514,343$1,396,853
86$1,995,119$712,553$497,098$1,484,574
87$2,163,061$711,908$478,191$1,580,321
88$2,347,012$710,111$457,529$1,684,914
89$2,548,572$707,070$435,020$1,799,261
90$2,769,498$702,688$410,566$1,924,362
91$3,011,729$696,863$384,062$2,061,321
92$3,277,400$689,483$355,403$2,211,355
93$3,568,861$680,435$324,475$2,375,810
94$3,888,702$669,593$291,162$2,556,168
95$4,239,776$656,829$255,342$2,754,066
96$4,625,222$642,003$216,885$2,971,310
97$5,048,504$624,970$175,660$3,209,893
98$5,513,433$605,575$131,526$3,472,011
99$6,024,209$583,654$84,338$3,760,091
100$6,585,459$559,034$33,944$4,076,807