Can I retire at age 71 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$53,016$52,544$52,083$51,633$51,194$50,914
2 years$26,245$25,757$25,283$24,824$24,378$24,096
3 years$17,323$16,832$16,360$15,905$15,466$15,190
4 years$12,863$12,373$11,906$11,458$11,031$10,763
5 years$10,187$9,701$9,239$8,801$8,385$8,127
6 years$8,404$7,922$7,467$7,038$6,635$6,386
7 years$7,131$6,653$6,205$5,787$5,396$5,156
8 years$6,177$5,702$5,262$4,854$4,477$4,246
9 years$5,435$4,965$4,532$4,135$3,770$3,549
10 years$4,842$4,376$3,951$3,564$3,212$3,001
11 years$4,357$3,896$3,479$3,102$2,763$2,561
12 years$3,953$3,497$3,087$2,721$2,394$2,201
13 years$3,611$3,160$2,758$2,402$2,088$1,904
14 years$3,319$2,873$2,478$2,132$1,830$1,655
15 years$3,066$2,624$2,238$1,902$1,611$1,445
16 years$2,844$2,408$2,029$1,703$1,424$1,266
17 years$2,649$2,217$1,846$1,530$1,263$1,112
18 years$2,476$2,049$1,685$1,379$1,123$980
19 years$2,321$1,899$1,543$1,246$1,001$866
20 years$2,182$1,765$1,416$1,128$894$766
21 years$2,056$1,644$1,302$1,024$800$679
22 years$1,942$1,534$1,200$931$717$603
23 years$1,838$1,435$1,108$848$644$536
24 years$1,743$1,344$1,025$773$578$477
25 years$1,655$1,262$949$706$521$425
26 years$1,575$1,186$880$646$469$379
27 years$1,500$1,116$818$591$423$338
28 years$1,431$1,052$760$542$381$302
29 years$1,367$992$707$497$344$270
30 years$1,307$937$659$456$311$242
31 years$1,251$886$614$419$281$216
32 years$1,199$838$573$385$255$193
33 years$1,150$794$535$354$230$173
34 years$1,104$752$500$326$209$155
35 years$1,060$713$467$300$189$139
36 years$1,020$677$437$276$171$125
37 years$981$643$409$254$155$112
38 years$945$611$383$234$141$100
39 years$910$581$359$216$128$90
40 years$878$553$337$199$116$81
41 years$847$526$316$184$105$72
42 years$817$501$296$170$95$65
43 years$789$478$278$157$86$58
44 years$763$455$261$145$78$52
45 years$737$434$245$134$71$47
46 years$713$414$230$123$65$42
47 years$690$395$216$114$59$38
48 years$668$377$203$105$53$34
49 years$647$360$191$97$48$30
50 years$627$344$179$90$44$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $642,000, adding $4,167 every year, while hoping to spend $20,328 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: 56/24/20 Blend
70$642,000$642,000$642,000$642,000
71$711,782$677,756$667,805$747,597
72$762,755$689,337$668,548$784,083
73$818,246$700,805$668,634$821,284
74$878,694$712,131$668,020$861,365
75$944,583$723,288$666,661$904,609
76$1,016,445$734,244$664,509$951,326
77$1,094,866$744,965$661,513$1,001,860
78$1,180,490$755,415$657,621$1,056,587
79$1,274,027$765,558$652,779$1,115,924
80$1,376,258$775,350$646,927$1,180,333
81$1,488,043$784,750$640,006$1,250,320
82$1,610,330$793,709$631,953$1,326,445
83$1,744,161$802,178$622,701$1,409,325
84$1,890,685$810,104$612,181$1,499,641
85$2,051,165$817,430$600,319$1,598,144
86$2,226,995$824,095$587,041$1,705,663
87$2,419,708$830,035$572,266$1,823,111
88$2,630,993$835,182$555,912$1,951,496
89$2,862,710$839,461$537,890$2,091,930
90$3,116,907$842,796$518,111$2,245,638
91$3,395,842$845,103$496,478$2,413,974
92$3,702,000$846,295$472,892$2,598,428
93$4,038,120$846,279$447,249$2,800,645
94$4,407,216$844,955$419,441$3,022,440
95$4,812,613$842,219$389,353$3,265,812
96$5,257,970$837,958$356,866$3,532,968
97$5,747,319$832,054$321,858$3,826,341
98$6,285,103$824,381$284,197$4,148,614
99$6,876,214$814,807$243,748$4,502,744
100$7,526,044$803,189$200,370$4,891,996