Can I retire at age 71 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$51,529$51,070$50,623$50,185$49,759$48,774
2 years$25,510$25,034$24,574$24,128$23,695$22,707
3 years$16,837$16,360$15,901$15,459$15,033$14,072
4 years$12,502$12,027$11,572$11,137$10,722$9,796
5 years$9,902$9,429$8,980$8,554$8,150$7,263
6 years$8,169$7,699$7,257$6,841$6,449$5,600
7 years$6,931$6,466$6,031$5,624$5,245$4,435
8 years$6,004$5,543$5,115$4,718$4,351$3,579
9 years$5,283$4,826$4,405$4,019$3,664$2,931
10 years$4,706$4,254$3,841$3,464$3,122$2,426
11 years$4,235$3,787$3,381$3,015$2,685$2,025
12 years$3,842$3,399$3,001$2,645$2,327$1,703
13 years$3,510$3,072$2,681$2,335$2,029$1,439
14 years$3,226$2,792$2,409$2,073$1,779$1,222
15 years$2,980$2,551$2,175$1,848$1,566$1,042
16 years$2,765$2,340$1,972$1,655$1,384$891
17 years$2,575$2,155$1,794$1,487$1,227$764
18 years$2,407$1,991$1,638$1,340$1,091$657
19 years$2,256$1,846$1,499$1,211$973$565
20 years$2,121$1,715$1,376$1,097$869$488
21 years$1,999$1,597$1,266$995$777$421
22 years$1,888$1,491$1,167$905$697$364
23 years$1,786$1,395$1,077$824$626$315
24 years$1,694$1,307$996$752$562$273
25 years$1,609$1,226$923$686$506$237
26 years$1,530$1,153$856$628$456$205
27 years$1,458$1,085$795$575$411$178
28 years$1,391$1,022$739$526$371$155
29 years$1,328$964$687$483$335$134
30 years$1,270$911$640$443$302$117
31 years$1,216$861$597$407$273$101
32 years$1,165$814$557$374$247$88
33 years$1,117$771$520$344$224$77
34 years$1,073$731$486$316$203$67
35 years$1,031$693$454$291$184$58
36 years$991$658$425$268$166$51
37 years$954$625$398$247$151$44
38 years$918$594$372$228$137$38
39 years$885$565$349$210$124$33
40 years$853$537$327$194$112$29
41 years$823$512$307$179$102$25
42 years$794$487$288$165$93$22
43 years$767$464$270$152$84$19
44 years$741$443$253$141$76$17
45 years$717$422$238$130$69$15
46 years$693$403$223$120$63$13
47 years$671$384$210$111$57$11
48 years$649$367$197$102$52$10
49 years$629$350$185$95$47$8
50 years$609$335$174$87$43$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $624,000, adding $3,686 every year, while hoping to spend $47,931 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: 53/38/9 Blend
70$624,000$624,000$624,000$624,000
71$691,450$658,378$648,706$726,343
72$710,980$639,640$619,440$731,706
73$730,895$618,378$587,586$732,021
74$751,185$594,417$553,009$731,229
75$771,835$567,572$515,563$729,235
76$792,828$537,649$475,101$725,938
77$814,143$504,442$431,464$721,230
78$835,758$467,731$384,489$714,992
79$857,641$427,286$334,006$707,103
80$879,761$382,863$279,836$697,427
81$902,078$334,205$221,792$685,822
82$924,548$281,039$159,680$672,136
83$947,120$223,078$93,297$656,206
84$969,734$160,016$22,430$637,856
85$992,324$91,534$0$616,898
86$1,014,814$17,292$0$598,242
87$1,037,118$0$0$579,193
88$1,059,139$0$0$583,759
89$1,080,767$0$0$595,294
90$1,101,880$0$0$606,493
91$1,122,339$0$0$617,275
92$1,141,989$0$0$627,547
93$1,160,656$0$0$637,207
94$1,178,146$0$0$646,141
95$1,194,242$0$0$654,220
96$1,208,701$0$0$661,301
97$1,221,253$0$0$667,226
98$1,231,598$0$0$671,817
99$1,239,399$0$0$674,877
100$1,244,285$0$0$676,187