Can I retire at age 71 with 638,000?

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 $638,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$52,685$52,216$51,758$51,311$50,875$50,281
2 years$26,082$25,596$25,125$24,669$24,226$23,628
3 years$17,215$16,727$16,258$15,806$15,370$14,787
4 years$12,783$12,296$11,832$11,387$10,962$10,398
5 years$10,124$9,641$9,182$8,746$8,333$7,790
6 years$8,352$7,872$7,420$6,995$6,594$6,072
7 years$7,087$6,611$6,166$5,751$5,363$4,862
8 years$6,138$5,667$5,229$4,824$4,449$3,970
9 years$5,401$4,934$4,504$4,109$3,746$3,289
10 years$4,812$4,349$3,927$3,542$3,192$2,756
11 years$4,330$3,872$3,457$3,083$2,745$2,330
12 years$3,928$3,475$3,068$2,704$2,379$1,984
13 years$3,589$3,140$2,741$2,387$2,075$1,700
14 years$3,298$2,855$2,463$2,119$1,819$1,463
15 years$3,047$2,608$2,224$1,890$1,601$1,264
16 years$2,827$2,393$2,016$1,692$1,415$1,096
17 years$2,633$2,203$1,835$1,520$1,255$954
18 years$2,461$2,036$1,675$1,370$1,116$831
19 years$2,307$1,887$1,533$1,238$994$726
20 years$2,168$1,754$1,407$1,121$888$636
21 years$2,043$1,633$1,294$1,018$795$557
22 years$1,930$1,525$1,193$925$713$489
23 years$1,827$1,426$1,101$843$640$430
24 years$1,732$1,336$1,019$769$575$378
25 years$1,645$1,254$943$702$517$333
26 years$1,565$1,178$875$642$466$294
27 years$1,491$1,109$812$587$420$259
28 years$1,422$1,045$755$538$379$229
29 years$1,358$986$703$494$342$202
30 years$1,299$931$655$453$309$178
31 years$1,243$880$610$416$280$158
32 years$1,191$833$569$382$253$139
33 years$1,143$789$532$352$229$123
34 years$1,097$747$497$323$207$109
35 years$1,054$709$464$298$188$96
36 years$1,013$673$435$274$170$85
37 years$975$639$407$253$154$76
38 years$939$607$381$233$140$67
39 years$905$578$357$215$127$59
40 years$872$549$334$198$115$52
41 years$841$523$314$183$104$46
42 years$812$498$294$169$95$41
43 years$784$475$276$156$86$36
44 years$758$452$259$144$78$32
45 years$733$431$243$133$71$29
46 years$709$412$229$123$64$25
47 years$686$393$215$113$58$22
48 years$664$375$202$105$53$20
49 years$643$358$190$97$48$18
50 years$623$342$178$89$44$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $638,000, adding $2,069 every year, while hoping to spend $38,136 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: 32/47/21 Blend
70$638,000$638,000$638,000$638,000
71$705,210$671,396$661,507$723,140
72$736,565$663,718$643,091$729,093
73$769,840$654,386$622,780$731,898
74$805,191$643,278$600,470$734,128
75$842,788$630,265$576,053$735,757
76$882,816$615,213$549,415$736,757
77$925,481$597,975$520,438$737,106
78$971,005$578,401$488,997$736,778
79$1,019,632$556,328$454,964$735,754
80$1,071,632$531,585$418,202$734,013
81$1,127,297$503,992$378,571$731,540
82$1,186,951$473,357$335,923$728,322
83$1,250,946$439,477$290,103$724,350
84$1,319,671$402,140$240,950$719,622
85$1,393,552$361,119$188,296$714,139
86$1,473,056$316,176$131,965$707,911
87$1,558,695$267,056$71,774$700,954
88$1,651,035$213,495$7,531$693,294
89$1,750,694$155,210$0$684,968
90$1,858,353$91,903$0$689,697
91$1,974,759$23,261$0$696,559
92$2,100,735$0$0$703,990
93$2,237,184$0$0$738,539
94$2,385,098$0$0$789,112
95$2,545,571$0$0$844,065
96$2,719,805$0$0$903,817
97$2,909,119$0$0$968,836
98$3,114,968$0$0$1,039,629
99$3,338,951$0$0$1,116,762
100$3,582,827$0$0$1,200,850