Can I retire at age 71 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$56,897$56,390$55,896$55,413$54,942$54,255
2 years$28,167$27,642$27,134$26,641$26,163$25,472
3 years$18,591$18,065$17,557$17,069$16,599$15,925
4 years$13,805$13,279$12,777$12,297$11,838$11,187
5 years$10,933$10,411$9,916$9,446$8,999$8,372
6 years$9,020$8,501$8,013$7,554$7,121$6,519
7 years$7,653$7,140$6,659$6,210$5,791$5,215
8 years$6,629$6,120$5,647$5,210$4,804$4,253
9 years$5,833$5,328$4,864$4,437$4,046$3,519
10 years$5,196$4,697$4,241$3,825$3,447$2,945
11 years$4,676$4,181$3,733$3,329$2,965$2,487
12 years$4,242$3,753$3,313$2,920$2,569$2,115
13 years$3,876$3,392$2,960$2,578$2,240$1,809
14 years$3,562$3,083$2,660$2,288$1,964$1,555
15 years$3,290$2,816$2,401$2,041$1,729$1,342
16 years$3,053$2,584$2,177$1,827$1,528$1,162
17 years$2,843$2,380$1,981$1,642$1,355$1,010
18 years$2,657$2,199$1,809$1,480$1,205$879
19 years$2,491$2,038$1,656$1,337$1,074$767
20 years$2,342$1,894$1,519$1,211$959$670
21 years$2,207$1,764$1,398$1,099$858$587
22 years$2,084$1,647$1,288$999$769$514
23 years$1,973$1,540$1,189$910$691$451
24 years$1,870$1,443$1,100$830$621$397
25 years$1,776$1,354$1,019$758$559$349
26 years$1,690$1,273$945$693$503$307
27 years$1,610$1,198$877$634$454$270
28 years$1,536$1,129$816$581$409$238
29 years$1,467$1,065$759$533$370$210
30 years$1,403$1,005$707$489$334$185
31 years$1,343$950$659$449$302$163
32 years$1,286$899$615$413$273$144
33 years$1,234$852$574$380$247$127
34 years$1,185$807$537$349$224$112
35 years$1,138$766$502$322$203$99
36 years$1,094$727$469$296$184$88
37 years$1,053$690$439$273$166$77
38 years$1,014$656$411$252$151$68
39 years$977$624$385$232$137$61
40 years$942$593$361$214$124$54
41 years$909$565$339$197$113$47
42 years$877$538$318$182$102$42
43 years$847$513$298$168$93$37
44 years$819$489$280$155$84$33
45 years$791$466$263$143$76$29
46 years$765$444$247$132$69$26
47 years$741$424$232$122$63$23
48 years$717$405$218$113$57$20
49 years$694$387$205$104$52$18
50 years$673$369$193$97$47$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $689,000, adding $4,438 every year, while hoping to spend $44,313 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: 46/28/26 Blend
70$689,000$689,000$689,000$689,000
71$763,856$727,339$716,659$793,104
72$794,620$715,830$693,519$802,688
73$827,038$702,271$668,118$808,416
74$861,230$686,517$640,334$813,761
75$897,329$668,410$610,039$818,712
76$935,481$647,786$577,099$823,256
77$975,842$624,470$541,375$827,384
78$1,018,587$598,278$502,719$831,092
79$1,063,902$569,013$460,979$834,376
80$1,111,994$536,468$415,996$837,236
81$1,163,088$500,426$367,603$839,679
82$1,217,430$460,654$315,625$841,713
83$1,275,290$416,908$259,880$843,356
84$1,336,962$368,930$200,179$844,629
85$1,402,771$316,445$136,323$845,564
86$1,473,069$259,167$68,106$846,199
87$1,548,245$196,789$0$846,583
88$1,628,724$128,989$0$848,080
89$1,714,972$55,428$0$869,709
90$1,807,501$0$0$892,708
91$1,906,873$0$0$924,723
92$2,013,703$0$0$977,558
93$2,128,669$0$0$1,034,474
94$2,252,512$0$0$1,095,848
95$2,386,049$0$0$1,162,092
96$2,530,176$0$0$1,233,658
97$2,685,877$0$0$1,311,045
98$2,854,235$0$0$1,394,799
99$3,036,439$0$0$1,485,522
100$3,233,797$0$0$1,583,874