Can I retire at age 71 with 614,000?

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 $614,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$50,704$50,252$49,811$49,381$48,961$47,855
2 years$25,101$24,633$24,180$23,741$23,315$22,207
3 years$16,568$16,098$15,646$15,211$14,792$13,716
4 years$12,302$11,834$11,386$10,959$10,550$9,514
5 years$9,743$9,278$8,836$8,417$8,020$7,028
6 years$8,038$7,576$7,141$6,731$6,346$5,398
7 years$6,820$6,362$5,934$5,534$5,161$4,258
8 years$5,907$5,454$5,033$4,643$4,281$3,423
9 years$5,198$4,748$4,335$3,954$3,606$2,791
10 years$4,631$4,186$3,779$3,409$3,072$2,300
11 years$4,167$3,726$3,327$2,967$2,642$1,912
12 years$3,780$3,344$2,953$2,602$2,290$1,600
13 years$3,454$3,022$2,638$2,297$1,997$1,346
14 years$3,174$2,747$2,370$2,039$1,750$1,138
15 years$2,932$2,510$2,140$1,819$1,541$965
16 years$2,720$2,303$1,940$1,628$1,362$821
17 years$2,534$2,121$1,766$1,463$1,208$701
18 years$2,368$1,959$1,612$1,319$1,074$599
19 years$2,220$1,816$1,475$1,191$957$513
20 years$2,087$1,688$1,354$1,079$855$440
21 years$1,967$1,572$1,246$979$765$378
22 years$1,857$1,467$1,148$890$686$325
23 years$1,758$1,372$1,060$811$616$280
24 years$1,667$1,286$980$740$553$241
25 years$1,583$1,207$908$675$498$208
26 years$1,506$1,134$842$618$448$179
27 years$1,435$1,067$782$565$404$155
28 years$1,368$1,006$727$518$365$134
29 years$1,307$949$676$475$329$115
30 years$1,250$896$630$436$298$100
31 years$1,196$847$587$400$269$86
32 years$1,146$801$548$368$243$74
33 years$1,100$759$512$338$220$64
34 years$1,056$719$478$311$199$56
35 years$1,014$682$447$287$181$48
36 years$975$648$418$264$164$42
37 years$938$615$391$243$148$36
38 years$904$585$367$224$134$31
39 years$871$556$343$207$122$27
40 years$839$529$322$191$111$23
41 years$810$503$302$176$100$20
42 years$782$479$283$162$91$17
43 years$755$457$266$150$83$15
44 years$730$435$249$138$75$13
45 years$705$415$234$128$68$11
46 years$682$396$220$118$62$10
47 years$660$378$207$109$56$8
48 years$639$361$194$101$51$7
49 years$619$345$182$93$46$6
50 years$599$329$172$86$42$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $614,000, adding $3,572 every year, while hoping to spend $50,429 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: 71/5/24 Blend
70$614,000$614,000$614,000$614,000
71$680,313$647,771$638,254$724,273
72$696,048$625,855$605,979$732,184
73$711,699$601,176$570,933$734,582
74$727,203$573,544$532,970$735,991
75$742,489$542,760$491,936$736,309
76$757,480$508,612$447,673$735,422
77$772,087$470,877$400,014$733,208
78$786,210$429,320$348,784$729,535
79$799,737$383,691$293,803$724,257
80$812,545$333,726$234,879$717,216
81$824,493$279,147$171,816$708,239
82$835,424$219,659$104,405$697,137
83$845,167$154,951$32,432$683,704
84$853,525$84,695$0$667,716
85$860,284$8,545$0$660,292
86$865,203$0$0$659,400
87$868,015$0$0$660,562
88$868,422$0$0$660,295
89$866,094$0$0$657,870
90$860,665$0$0$652,999
91$851,729$0$0$645,365
92$838,835$0$0$634,613
93$821,482$0$0$620,352
94$799,118$0$0$602,149
95$771,129$0$0$579,522
96$736,836$0$0$551,940
97$695,486$0$0$518,813
98$646,250$0$0$479,491
99$588,205$0$0$433,252
100$520,336$0$0$379,300