Can I retire at age 71 with 600,000?

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 $600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$49,547$49,106$48,676$48,255$47,845$47,484
2 years$24,528$24,072$23,629$23,200$22,783$22,419
3 years$16,190$15,731$15,289$14,864$14,455$14,099
4 years$12,021$11,564$11,127$10,709$10,309$9,964
5 years$9,521$9,066$8,635$8,225$7,837$7,504
6 years$7,855$7,403$6,978$6,578$6,201$5,881
7 years$6,665$6,217$5,799$5,408$5,043$4,736
8 years$5,773$5,329$4,918$4,537$4,184$3,889
9 years$5,079$4,640$4,236$3,864$3,523$3,241
10 years$4,525$4,090$3,693$3,331$3,002$2,732
11 years$4,072$3,641$3,251$2,899$2,582$2,324
12 years$3,694$3,268$2,885$2,543$2,237$1,992
13 years$3,375$2,953$2,578$2,245$1,951$1,717
14 years$3,102$2,685$2,316$1,993$1,710$1,488
15 years$2,865$2,452$2,091$1,777$1,506$1,294
16 years$2,658$2,250$1,896$1,591$1,331$1,130
17 years$2,476$2,072$1,725$1,430$1,180$990
18 years$2,314$1,915$1,575$1,289$1,049$869
19 years$2,169$1,775$1,442$1,164$935$765
20 years$2,039$1,649$1,323$1,054$835$674
21 years$1,922$1,536$1,217$957$748$596
22 years$1,815$1,434$1,122$870$670$527
23 years$1,718$1,341$1,036$792$601$467
24 years$1,629$1,256$958$723$541$414
25 years$1,547$1,179$887$660$486$367
26 years$1,472$1,108$823$604$438$326
27 years$1,402$1,043$764$552$395$290
28 years$1,337$983$710$506$356$258
29 years$1,277$927$661$464$322$230
30 years$1,221$876$616$426$291$205
31 years$1,169$828$574$391$263$182
32 years$1,120$783$536$360$238$162
33 years$1,075$742$500$331$215$145
34 years$1,032$703$467$304$195$129
35 years$991$667$437$280$177$115
36 years$953$633$409$258$160$103
37 years$917$601$382$238$145$92
38 years$883$571$358$219$131$82
39 years$851$543$336$202$119$73
40 years$820$517$315$186$108$65
41 years$791$492$295$172$98$58
42 years$764$468$277$159$89$52
43 years$738$446$260$146$81$47
44 years$713$425$244$135$73$42
45 years$689$406$229$125$67$37
46 years$667$387$215$115$60$33
47 years$645$369$202$107$55$30
48 years$624$353$190$98$50$27
49 years$605$337$178$91$45$24
50 years$586$322$168$84$41$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $600,000, adding $5,019 every year, while hoping to spend $50,125 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: 61/24/15 Blend
70$600,000$600,000$600,000$600,000
71$666,377$634,577$625,277$704,238
72$681,015$612,339$592,891$708,081
73$695,466$587,331$557,741$706,182
74$709,658$559,364$519,679$702,918
75$723,510$528,240$478,556$698,160
76$736,931$493,747$434,211$691,769
77$749,820$455,662$386,478$683,595
78$762,061$413,749$335,185$673,475
79$773,527$367,759$280,149$661,233
80$784,076$317,428$221,183$646,676
81$793,547$262,478$158,088$629,597
82$801,764$202,614$90,659$609,772
83$808,527$137,526$18,680$586,954
84$813,618$66,886$0$560,880
85$816,791$0$0$540,565
86$817,772$0$0$522,737
87$816,261$0$0$520,871
88$811,920$0$0$517,076
89$804,378$0$0$511,101
90$793,219$0$0$502,667
91$777,987$0$0$491,465
92$758,172$0$0$477,153
93$733,212$0$0$459,350
94$702,484$0$0$437,638
95$665,299$0$0$411,552
96$620,891$0$0$380,577
97$568,418$0$0$344,144
98$506,945$0$0$301,625
99$435,439$0$0$252,324
100$352,758$0$0$195,472