Can I retire at age 71 with 657,000?

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 $657,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$54,254$53,771$53,300$52,839$52,390$51,693
2 years$26,859$26,358$25,874$25,404$24,948$24,246
3 years$17,728$17,226$16,742$16,276$15,828$15,144
4 years$13,163$12,663$12,184$11,726$11,289$10,628
5 years$10,425$9,928$9,455$9,007$8,581$7,945
6 years$8,601$8,107$7,641$7,203$6,790$6,180
7 years$7,298$6,808$6,350$5,922$5,522$4,938
8 years$6,321$5,836$5,385$4,968$4,581$4,022
9 years$5,562$5,081$4,638$4,231$3,858$3,325
10 years$4,955$4,479$4,044$3,647$3,287$2,779
11 years$4,459$3,987$3,560$3,174$2,827$2,344
12 years$4,045$3,579$3,159$2,784$2,450$1,991
13 years$3,696$3,234$2,823$2,458$2,136$1,701
14 years$3,396$2,940$2,536$2,182$1,873$1,460
15 years$3,137$2,685$2,290$1,946$1,649$1,258
16 years$2,911$2,464$2,076$1,742$1,457$1,088
17 years$2,711$2,269$1,889$1,566$1,292$944
18 years$2,534$2,097$1,725$1,411$1,149$821
19 years$2,375$1,943$1,579$1,275$1,024$715
20 years$2,233$1,806$1,449$1,155$915$624
21 years$2,104$1,682$1,333$1,048$819$545
22 years$1,987$1,570$1,228$953$734$477
23 years$1,881$1,468$1,134$868$659$418
24 years$1,783$1,376$1,049$791$592$367
25 years$1,694$1,291$971$723$533$322
26 years$1,611$1,213$901$661$480$283
27 years$1,535$1,142$837$605$433$249
28 years$1,464$1,076$778$554$390$219
29 years$1,399$1,015$724$508$352$193
30 years$1,337$959$674$466$318$170
31 years$1,280$906$629$428$288$149
32 years$1,227$858$586$394$260$132
33 years$1,177$812$548$362$236$116
34 years$1,130$770$512$333$213$102
35 years$1,085$730$478$307$193$90
36 years$1,043$693$447$282$175$80
37 years$1,004$658$419$260$159$70
38 years$967$625$392$240$144$62
39 years$932$595$367$221$131$55
40 years$898$566$344$204$118$48
41 years$867$539$323$188$107$43
42 years$836$513$303$174$97$38
43 years$808$489$284$160$88$33
44 years$781$466$267$148$80$29
45 years$755$444$251$137$73$26
46 years$730$424$235$126$66$23
47 years$706$404$221$117$60$20
48 years$684$386$208$108$55$18
49 years$662$369$195$100$50$16
50 years$641$352$184$92$45$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $657,000, adding $6,741 every year, while hoping to spend $53,415 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: 43/34/23 Blend
70$657,000$657,000$657,000$657,000
71$730,967$696,146$685,963$757,246
72$748,693$673,424$652,109$753,846
73$766,436$647,799$615,332$744,494
74$784,143$619,071$575,475$733,291
75$801,750$587,031$532,379$720,092
76$819,189$551,455$485,874$704,747
77$836,380$512,110$435,784$687,092
78$853,234$468,747$381,926$666,953
79$869,651$421,102$324,108$644,143
80$885,517$368,899$262,128$618,461
81$900,708$311,843$195,777$589,694
82$915,082$249,624$124,837$557,613
83$928,480$181,916$49,079$521,972
84$940,727$108,372$0$482,507
85$951,626$28,627$0$446,733
86$960,958$0$0$419,909
87$968,477$0$0$411,308
88$973,913$0$0$412,384
89$976,962$0$0$412,282
90$977,290$0$0$410,841
91$974,522$0$0$407,883
92$968,245$0$0$403,211
93$957,999$0$0$396,604
94$943,274$0$0$387,820
95$923,505$0$0$376,589
96$898,066$0$0$362,612
97$866,264$0$0$345,559
98$827,330$0$0$325,065
99$780,416$0$0$300,725
100$724,581$0$0$272,091