Can I retire at age 71 with 627,000?

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 $627,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$51,777$51,316$50,866$50,427$49,998$49,538
2 years$25,632$25,155$24,692$24,244$23,809$23,345
3 years$16,918$16,439$15,977$15,533$15,105$14,652
4 years$12,562$12,084$11,628$11,191$10,773$10,335
5 years$9,949$9,474$9,023$8,596$8,190$7,767
6 years$8,208$7,736$7,292$6,874$6,480$6,074
7 years$6,965$6,497$6,060$5,651$5,270$4,880
8 years$6,033$5,569$5,139$4,741$4,372$3,998
9 years$5,308$4,849$4,426$4,038$3,682$3,324
10 years$4,729$4,274$3,859$3,481$3,137$2,796
11 years$4,255$3,805$3,397$3,029$2,698$2,372
12 years$3,860$3,415$3,015$2,657$2,338$2,028
13 years$3,527$3,086$2,694$2,346$2,039$1,744
14 years$3,241$2,805$2,420$2,082$1,787$1,507
15 years$2,994$2,563$2,185$1,857$1,574$1,308
16 years$2,778$2,351$1,981$1,663$1,391$1,139
17 years$2,587$2,165$1,803$1,494$1,233$994
18 years$2,418$2,001$1,646$1,346$1,096$871
19 years$2,267$1,854$1,507$1,217$977$764
20 years$2,131$1,723$1,383$1,102$873$672
21 years$2,008$1,605$1,272$1,000$781$592
22 years$1,897$1,498$1,172$909$700$522
23 years$1,795$1,401$1,082$828$629$461
24 years$1,702$1,313$1,001$755$565$407
25 years$1,617$1,232$927$690$508$360
26 years$1,538$1,158$860$631$458$319
27 years$1,465$1,090$798$577$413$283
28 years$1,397$1,027$742$529$373$251
29 years$1,335$969$691$485$336$222
30 years$1,276$915$643$445$304$197
31 years$1,222$865$600$409$275$175
32 years$1,171$818$560$376$249$156
33 years$1,123$775$523$346$225$138
34 years$1,078$735$488$318$204$123
35 years$1,036$697$456$293$184$109
36 years$996$661$427$270$167$97
37 years$958$628$400$248$151$87
38 years$923$597$374$229$137$77
39 years$889$568$351$211$125$69
40 years$857$540$329$195$113$61
41 years$827$514$308$180$102$54
42 years$798$490$289$166$93$48
43 years$771$466$271$153$84$43
44 years$745$445$255$141$77$38
45 years$720$424$239$130$70$34
46 years$697$404$225$121$63$30
47 years$674$386$211$111$57$27
48 years$652$368$198$103$52$24
49 years$632$352$186$95$47$22
50 years$612$336$175$88$43$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $627,000, adding $4,847 every year, while hoping to spend $28,899 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: 35/49/16 Blend
70$627,000$627,000$627,000$627,000
71$695,954$662,723$653,004$716,731
72$736,193$664,448$644,132$733,997
73$779,567$665,289$633,993$749,545
74$826,367$665,172$622,516$765,703
75$876,910$664,019$609,624$782,540
76$931,546$661,746$595,236$800,135
77$990,657$658,266$579,271$818,576
78$1,054,667$653,484$561,639$837,965
79$1,124,039$647,301$542,251$858,414
80$1,199,284$639,611$521,009$880,049
81$1,280,963$630,304$497,814$903,013
82$1,369,692$619,260$472,562$927,467
83$1,466,151$606,354$445,143$953,590
84$1,571,086$591,453$415,443$981,581
85$1,685,320$574,417$383,343$1,011,668
86$1,809,756$555,097$348,718$1,044,101
87$1,945,389$533,334$311,438$1,079,161
88$2,093,314$508,963$271,367$1,117,163
89$2,254,737$481,807$228,363$1,158,458
90$2,430,984$451,680$182,277$1,203,436
91$2,623,515$418,383$132,954$1,252,535
92$2,833,939$381,709$80,233$1,306,240
93$3,064,024$341,436$23,945$1,365,093
94$3,315,721$297,333$0$1,429,697
95$3,591,175$249,152$0$1,506,890
96$3,892,748$196,634$0$1,596,013
97$4,223,043$139,504$0$1,693,838
98$4,584,924$77,471$0$1,801,319
99$4,981,549$10,229$0$1,919,517
100$5,416,391$0$0$2,049,604