Can I retire at age 71 with 662,000?

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 $662,000?

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$54,667$54,180$53,705$53,242$52,789$52,303
2 years$27,063$26,559$26,071$25,597$25,138$24,648
3 years$17,863$17,357$16,869$16,400$15,948$15,470
4 years$13,264$12,759$12,277$11,815$11,374$10,912
5 years$10,505$10,003$9,527$9,075$8,647$8,200
6 years$8,666$8,168$7,699$7,258$6,842$6,413
7 years$7,353$6,860$6,398$5,967$5,564$5,152
8 years$6,369$5,880$5,426$5,005$4,616$4,221
9 years$5,604$5,120$4,674$4,264$3,887$3,510
10 years$4,993$4,513$4,075$3,675$3,312$2,952
11 years$4,492$4,017$3,587$3,199$2,849$2,505
12 years$4,076$3,606$3,183$2,806$2,469$2,141
13 years$3,724$3,259$2,844$2,477$2,153$1,841
14 years$3,422$2,962$2,556$2,199$1,887$1,591
15 years$3,161$2,706$2,307$1,961$1,661$1,381
16 years$2,933$2,483$2,092$1,756$1,468$1,202
17 years$2,732$2,286$1,904$1,578$1,302$1,050
18 years$2,553$2,113$1,738$1,422$1,158$919
19 years$2,393$1,958$1,591$1,285$1,032$807
20 years$2,250$1,819$1,460$1,163$922$709
21 years$2,120$1,695$1,343$1,056$825$625
22 years$2,003$1,582$1,238$960$739$551
23 years$1,895$1,480$1,143$874$664$486
24 years$1,797$1,386$1,057$797$597$430
25 years$1,707$1,301$979$728$537$380
26 years$1,624$1,223$908$666$483$337
27 years$1,547$1,151$843$610$436$298
28 years$1,475$1,084$784$558$393$265
29 years$1,409$1,023$729$512$355$235
30 years$1,348$966$679$470$321$208
31 years$1,290$913$633$432$290$185
32 years$1,236$864$591$397$262$165
33 years$1,186$818$552$365$238$146
34 years$1,138$776$515$336$215$130
35 years$1,093$736$482$309$195$116
36 years$1,051$698$451$285$176$103
37 years$1,012$663$422$262$160$91
38 years$974$630$395$242$145$81
39 years$939$599$370$223$131$72
40 years$905$570$347$206$119$64
41 years$873$543$325$190$108$57
42 years$843$517$305$175$98$51
43 years$814$492$286$162$89$46
44 years$787$469$269$149$81$41
45 years$760$448$252$138$73$36
46 years$735$427$237$127$67$32
47 years$712$408$223$118$61$29
48 years$689$389$209$109$55$26
49 years$667$372$197$100$50$23
50 years$646$355$185$93$45$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $662,000, adding $5,804 every year, while hoping to spend $52,044 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: 60/18/22 Blend
70$662,000$662,000$662,000$662,000
71$735,511$700,425$690,164$775,033
72$755,159$679,371$657,910$781,464
73$775,066$655,542$622,831$782,287
74$795,205$628,745$584,778$782,030
75$815,542$598,780$543,594$780,598
76$836,039$565,432$499,116$777,889
77$856,652$528,475$451,174$773,793
78$877,331$487,671$399,588$768,189
79$898,017$442,766$344,174$760,951
80$918,647$393,493$284,736$751,941
81$939,146$339,571$221,071$741,011
82$959,429$280,700$152,967$728,000
83$979,403$216,567$80,203$712,737
84$998,960$146,837$2,549$695,035
85$1,017,982$71,160$0$674,696
86$1,036,333$0$0$670,357
87$1,053,864$0$0$666,941
88$1,070,405$0$0$676,937
89$1,085,768$0$0$686,125
90$1,099,744$0$0$694,364
91$1,112,096$0$0$701,498
92$1,122,564$0$0$707,354
93$1,130,856$0$0$711,738
94$1,136,648$0$0$714,434
95$1,139,580$0$0$715,204
96$1,139,251$0$0$713,781
97$1,135,218$0$0$709,869
98$1,126,985$0$0$703,143
99$1,114,006$0$0$693,237
100$1,095,672$0$0$679,750