Can I retire at age 71 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$55,658$55,163$54,679$54,207$53,746$53,362
2 years$27,554$27,040$26,543$26,061$25,593$25,207
3 years$18,187$17,671$17,175$16,697$16,237$15,859
4 years$13,504$12,990$12,499$12,030$11,581$11,214
5 years$10,695$10,184$9,700$9,240$8,803$8,450
6 years$8,823$8,316$7,839$7,389$6,966$6,626
7 years$7,487$6,984$6,514$6,075$5,665$5,338
8 years$6,485$5,987$5,525$5,096$4,700$4,386
9 years$5,706$5,212$4,758$4,341$3,958$3,658
10 years$5,083$4,595$4,148$3,742$3,372$3,085
11 years$4,574$4,090$3,652$3,257$2,900$2,626
12 years$4,150$3,671$3,241$2,856$2,513$2,252
13 years$3,791$3,318$2,896$2,522$2,192$1,943
14 years$3,484$3,016$2,602$2,239$1,921$1,684
15 years$3,218$2,755$2,349$1,996$1,692$1,466
16 years$2,986$2,528$2,130$1,788$1,495$1,281
17 years$2,781$2,328$1,938$1,606$1,326$1,123
18 years$2,599$2,151$1,769$1,447$1,179$987
19 years$2,437$1,993$1,620$1,308$1,051$869
20 years$2,291$1,852$1,486$1,185$938$767
21 years$2,159$1,725$1,367$1,075$840$678
22 years$2,039$1,611$1,260$977$753$600
23 years$1,930$1,506$1,163$890$676$532
24 years$1,830$1,411$1,076$812$607$472
25 years$1,738$1,325$997$741$546$419
26 years$1,653$1,245$924$678$492$373
27 years$1,575$1,172$858$621$444$331
28 years$1,502$1,104$798$569$400$295
29 years$1,435$1,041$743$521$362$263
30 years$1,372$984$692$479$327$234
31 years$1,313$930$645$439$295$209
32 years$1,258$880$602$404$267$186
33 years$1,207$833$562$371$242$166
34 years$1,159$790$525$342$219$149
35 years$1,113$749$491$315$198$133
36 years$1,070$711$459$290$180$118
37 years$1,030$675$430$267$163$106
38 years$992$642$402$246$148$95
39 years$956$610$377$227$134$85
40 years$921$581$353$209$121$76
41 years$889$553$331$193$110$68
42 years$858$526$311$178$100$60
43 years$829$501$292$164$91$54
44 years$801$478$274$152$82$48
45 years$774$456$257$140$75$43
46 years$749$435$241$130$68$39
47 years$725$415$227$120$62$35
48 years$701$396$213$111$56$31
49 years$679$378$200$102$51$28
50 years$658$361$188$94$46$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $674,000, adding $4,452 every year, while hoping to spend $32,337 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: 79/13/8 Blend
70$674,000$674,000$674,000$674,000
71$747,340$711,618$701,171$805,224
72$789,163$712,081$690,254$844,290
73$834,167$711,483$677,888$882,463
74$882,644$709,738$663,989$923,379
75$934,913$706,754$648,471$967,296
76$991,323$702,434$631,244$1,014,499
77$1,052,260$696,675$612,213$1,065,301
78$1,118,148$689,369$591,279$1,120,048
79$1,189,450$680,400$568,338$1,179,119
80$1,266,679$669,644$543,282$1,242,935
81$1,350,396$656,972$515,998$1,311,958
82$1,441,219$642,247$486,367$1,386,698
83$1,539,828$625,322$454,265$1,467,715
84$1,646,971$606,044$419,564$1,555,630
85$1,763,471$584,248$382,128$1,651,126
86$1,890,231$559,762$341,815$1,754,954
87$2,028,247$532,404$298,479$1,867,944
88$2,178,616$501,979$251,965$1,991,012
89$2,342,542$468,283$202,113$2,125,166
90$2,521,352$431,100$148,755$2,271,516
91$2,716,507$390,201$91,715$2,431,291
92$2,929,614$345,344$30,811$2,605,839
93$3,162,442$296,273$0$2,796,653
94$3,416,941$242,720$0$3,008,293
95$3,695,254$184,398$0$3,242,648
96$3,999,743$121,007$0$3,499,101
97$4,333,008$52,228$0$3,779,872
98$4,697,913$0$0$4,087,407
99$5,097,611$0$0$4,427,591
100$5,535,575$0$0$4,808,549