Can I retire at age 71 with 687,000?

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 $687,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$56,732$56,226$55,733$55,252$54,782$54,460
2 years$28,085$27,562$27,055$26,564$26,087$25,762
3 years$18,537$18,012$17,506$17,020$16,551$16,232
4 years$13,764$13,241$12,740$12,262$11,804$11,496
5 years$10,901$10,381$9,887$9,418$8,973$8,675
6 years$8,993$8,477$7,990$7,532$7,100$6,813
7 years$7,631$7,119$6,640$6,192$5,774$5,499
8 years$6,610$6,102$5,631$5,195$4,790$4,526
9 years$5,816$5,313$4,850$4,425$4,034$3,781
10 years$5,181$4,683$4,228$3,814$3,437$3,195
11 years$4,662$4,169$3,723$3,319$2,956$2,724
12 years$4,230$3,742$3,304$2,912$2,562$2,340
13 years$3,864$3,382$2,952$2,570$2,234$2,023
14 years$3,552$3,074$2,652$2,282$1,958$1,757
15 years$3,281$2,808$2,394$2,035$1,724$1,533
16 years$3,044$2,576$2,171$1,822$1,524$1,342
17 years$2,835$2,373$1,975$1,637$1,351$1,179
18 years$2,649$2,192$1,803$1,475$1,201$1,038
19 years$2,484$2,032$1,651$1,333$1,071$916
20 years$2,335$1,888$1,515$1,207$956$810
21 years$2,200$1,759$1,394$1,096$856$718
22 years$2,078$1,642$1,284$996$767$637
23 years$1,967$1,535$1,186$907$689$566
24 years$1,865$1,439$1,097$828$619$503
25 years$1,771$1,350$1,016$756$557$448
26 years$1,685$1,269$942$691$502$399
27 years$1,605$1,194$875$633$452$356
28 years$1,531$1,125$813$580$408$318
29 years$1,462$1,062$757$531$369$284
30 years$1,398$1,003$705$488$333$253
31 years$1,339$948$657$448$301$227
32 years$1,283$897$613$412$272$203
33 years$1,230$849$573$379$246$181
34 years$1,181$805$535$348$223$162
35 years$1,135$763$500$321$202$145
36 years$1,091$725$468$295$183$130
37 years$1,050$688$438$272$166$116
38 years$1,011$654$410$251$150$104
39 years$974$622$384$231$136$94
40 years$939$592$360$213$124$84
41 years$906$563$338$197$112$75
42 years$875$536$317$182$102$67
43 years$845$511$297$168$92$60
44 years$816$487$279$155$84$54
45 years$789$465$262$143$76$49
46 years$763$443$246$132$69$44
47 years$739$423$231$122$63$39
48 years$715$404$217$113$57$35
49 years$692$386$204$104$52$31
50 years$671$368$192$96$47$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $687,000, adding $4,911 every year, while hoping to spend $55,467 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: 56/29/15 Blend
70$687,000$687,000$687,000$687,000
71$762,140$725,729$715,080$801,574
72$780,861$702,273$680,019$805,450
73$799,634$675,809$641,924$803,220
74$818,403$646,130$600,635$799,521
75$837,110$613,020$555,986$794,221
76$855,683$576,246$507,800$787,182
77$874,047$535,567$455,895$778,254
78$892,113$490,723$400,081$767,274
79$909,783$441,442$340,158$754,068
80$926,945$387,437$275,917$738,448
81$943,475$328,403$207,142$720,210
82$959,234$264,019$133,606$699,137
83$974,065$193,945$55,071$674,991
84$987,794$117,823$0$647,517
85$1,000,226$35,273$0$621,042
86$1,011,144$0$0$600,371
87$1,020,306$0$0$593,670
88$1,027,442$0$0$596,941
89$1,032,253$0$0$598,740
90$1,034,404$0$0$598,862
91$1,033,527$0$0$597,076
92$1,029,208$0$0$593,128
93$1,020,992$0$0$586,735
94$1,008,373$0$0$577,582
95$990,788$0$0$565,322
96$967,616$0$0$549,569
97$938,168$0$0$529,898
98$901,679$0$0$505,834
99$857,304$0$0$476,855
100$804,108$0$0$442,382