Can I retire at age 71 with 640,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$52,851$52,380$51,921$51,472$51,034$49,580
2 years$26,164$25,676$25,204$24,746$24,302$22,848
3 years$17,269$16,780$16,309$15,855$15,418$14,010
4 years$12,823$12,335$11,869$11,423$10,996$9,645
5 years$10,156$9,671$9,211$8,774$8,359$7,068
6 years$8,378$7,897$7,443$7,016$6,614$5,385
7 years$7,109$6,632$6,186$5,769$5,379$4,212
8 years$6,158$5,685$5,246$4,839$4,463$3,356
9 years$5,418$4,950$4,518$4,122$3,758$2,712
10 years$4,827$4,363$3,939$3,553$3,202$2,214
11 years$4,343$3,884$3,468$3,092$2,754$1,823
12 years$3,941$3,486$3,078$2,712$2,387$1,510
13 years$3,600$3,150$2,750$2,395$2,081$1,258
14 years$3,309$2,864$2,471$2,126$1,824$1,053
15 years$3,056$2,616$2,231$1,896$1,606$884
16 years$2,835$2,400$2,022$1,697$1,420$744
17 years$2,641$2,210$1,840$1,525$1,259$628
18 years$2,468$2,042$1,680$1,374$1,119$531
19 years$2,314$1,893$1,538$1,242$998$450
20 years$2,175$1,759$1,411$1,125$891$381
21 years$2,050$1,638$1,298$1,021$797$324
22 years$1,936$1,529$1,197$928$715$275
23 years$1,832$1,430$1,105$845$642$234
24 years$1,737$1,340$1,022$771$577$199
25 years$1,650$1,258$946$704$519$170
26 years$1,570$1,182$878$644$467$145
27 years$1,495$1,112$815$589$421$123
28 years$1,426$1,048$758$540$380$105
29 years$1,362$989$705$495$343$90
30 years$1,303$934$657$454$310$77
31 years$1,247$883$612$417$280$65
32 years$1,195$835$571$384$254$56
33 years$1,146$791$533$353$230$48
34 years$1,100$750$498$324$208$41
35 years$1,057$711$466$299$188$35
36 years$1,016$675$436$275$171$30
37 years$978$641$408$253$155$25
38 years$942$609$382$234$140$22
39 years$908$579$358$215$127$19
40 years$875$551$335$199$115$16
41 years$844$525$315$183$105$14
42 years$815$500$295$169$95$12
43 years$787$476$277$156$86$10
44 years$760$454$260$144$78$8
45 years$735$433$244$133$71$7
46 years$711$413$229$123$64$6
47 years$688$394$215$114$59$5
48 years$666$376$202$105$53$4
49 years$645$359$190$97$48$4
50 years$625$343$179$90$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $640,000, adding $2,953 every year, while hoping to spend $37,798 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: 49/40/11 Blend
70$640,000$640,000$640,000$640,000
71$708,326$674,406$664,486$740,782
72$740,358$667,235$646,530$756,198
73$774,391$658,446$626,705$768,726
74$810,589$647,920$604,909$781,473
75$849,131$635,529$581,035$794,471
76$890,214$621,142$554,971$807,756
77$934,053$604,615$526,600$821,373
78$980,884$585,799$495,799$835,373
79$1,030,966$564,535$462,440$849,813
80$1,084,583$540,655$426,390$864,762
81$1,142,045$513,982$387,509$880,297
82$1,203,693$484,327$345,650$896,507
83$1,269,902$451,491$300,661$913,492
84$1,341,082$415,265$252,384$931,370
85$1,417,685$375,425$200,651$950,270
86$1,500,205$331,737$145,289$970,343
87$1,589,187$283,953$86,117$991,758
88$1,685,228$231,810$22,946$1,014,705
89$1,788,984$175,032$0$1,039,401
90$1,901,177$113,325$0$1,071,308
91$2,022,599$46,380$0$1,108,694
92$2,154,123$0$0$1,149,197
93$2,296,707$0$0$1,204,691
94$2,451,404$0$0$1,287,107
95$2,619,375$0$0$1,376,655
96$2,801,893$0$0$1,474,022
97$3,000,361$0$0$1,579,964
98$3,216,322$0$0$1,695,313
99$3,451,474$0$0$1,820,985
100$3,707,685$0$0$1,957,987