Can I retire at age 71 with 604,000?

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 $604,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$49,878$49,433$49,000$48,577$48,164$46,548
2 years$24,692$24,232$23,786$23,354$22,935$21,323
3 years$16,298$15,836$15,391$14,963$14,551$12,993
4 years$12,102$11,641$11,201$10,780$10,378$8,886
5 years$9,584$9,127$8,692$8,280$7,889$6,468
6 years$7,907$7,453$7,025$6,622$6,242$4,893
7 years$6,709$6,259$5,838$5,444$5,077$3,798
8 years$5,811$5,365$4,951$4,567$4,212$3,004
9 years$5,113$4,671$4,264$3,890$3,547$2,408
10 years$4,555$4,117$3,718$3,353$3,022$1,950
11 years$4,099$3,665$3,273$2,918$2,599$1,592
12 years$3,719$3,290$2,905$2,560$2,252$1,308
13 years$3,398$2,973$2,595$2,260$1,964$1,080
14 years$3,122$2,702$2,332$2,006$1,722$895
15 years$2,884$2,469$2,105$1,789$1,516$745
16 years$2,676$2,265$1,909$1,602$1,340$621
17 years$2,492$2,086$1,737$1,439$1,188$519
18 years$2,329$1,928$1,585$1,297$1,056$435
19 years$2,184$1,786$1,451$1,172$941$365
20 years$2,053$1,660$1,332$1,062$841$306
21 years$1,934$1,546$1,225$963$753$257
22 years$1,827$1,443$1,129$876$675$217
23 years$1,729$1,350$1,043$798$606$182
24 years$1,640$1,265$964$728$544$154
25 years$1,557$1,187$893$664$490$130
26 years$1,481$1,116$828$608$441$109
27 years$1,411$1,050$769$556$398$92
28 years$1,346$989$715$510$359$78
29 years$1,286$933$665$467$324$66
30 years$1,229$881$620$429$293$55
31 years$1,177$833$578$394$265$47
32 years$1,128$788$539$362$239$40
33 years$1,082$747$503$333$217$33
34 years$1,038$708$470$306$196$28
35 years$998$671$440$282$178$24
36 years$959$637$411$260$161$20
37 years$923$605$385$239$146$17
38 years$889$575$361$220$132$14
39 years$856$547$338$203$120$12
40 years$826$520$317$188$109$10
41 years$797$495$297$173$99$9
42 years$769$472$278$160$90$7
43 years$743$449$261$147$81$6
44 years$718$428$245$136$74$5
45 years$694$408$230$126$67$4
46 years$671$390$216$116$61$4
47 years$649$372$203$107$55$3
48 years$629$355$191$99$50$3
49 years$609$339$180$92$46$2
50 years$590$324$169$85$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $604,000, adding $5,919 every year, while hoping to spend $41,079 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: 40/38/22 Blend
70$604,000$604,000$604,000$604,000
71$671,713$639,701$630,339$694,002
72$696,520$627,339$607,748$698,199
73$722,481$612,994$583,023$698,395
74$749,669$596,526$556,050$697,777
75$778,166$577,786$526,708$696,294
76$808,058$556,617$494,872$693,895
77$839,441$532,852$460,411$690,524
78$872,417$506,315$423,188$686,125
79$907,098$476,819$383,059$680,642
80$943,606$444,167$339,875$674,014
81$982,074$408,151$293,481$666,183
82$1,022,644$368,550$243,712$657,086
83$1,065,476$325,131$190,398$646,662
84$1,110,740$277,647$133,362$634,848
85$1,158,624$225,840$72,417$621,580
86$1,209,330$169,433$7,371$606,795
87$1,263,084$108,138$0$590,429
88$1,320,128$41,646$0$586,985
89$1,380,730$0$0$584,630
90$1,445,180$0$0$594,321
91$1,513,798$0$0$623,222
92$1,586,933$0$0$654,072
93$1,664,967$0$0$687,039
94$1,748,321$0$0$722,304
95$1,837,453$0$0$760,070
96$1,932,866$0$0$800,557
97$2,035,113$0$0$844,007
98$2,144,800$0$0$890,685
99$2,262,592$0$0$940,883
100$2,389,217$0$0$994,921