Can I retire at age 71 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$56,980$56,472$55,977$55,494$55,022$54,357
2 years$28,208$27,682$27,173$26,680$26,201$25,531
3 years$18,618$18,091$17,583$17,094$16,623$15,970
4 years$13,825$13,299$12,796$12,315$11,856$11,224
5 years$10,949$10,426$9,930$9,459$9,012$8,405
6 years$9,033$8,514$8,025$7,565$7,131$6,548
7 years$7,664$7,150$6,669$6,219$5,800$5,240
8 years$6,639$6,129$5,656$5,217$4,811$4,276
9 years$5,841$5,336$4,871$4,444$4,052$3,541
10 years$5,204$4,704$4,247$3,831$3,452$2,965
11 years$4,682$4,187$3,739$3,334$2,969$2,505
12 years$4,248$3,758$3,318$2,924$2,573$2,132
13 years$3,881$3,396$2,965$2,582$2,244$1,825
14 years$3,567$3,087$2,664$2,292$1,967$1,570
15 years$3,295$2,820$2,405$2,044$1,732$1,356
16 years$3,057$2,588$2,180$1,830$1,531$1,175
17 years$2,847$2,383$1,984$1,644$1,357$1,021
18 years$2,661$2,202$1,811$1,482$1,207$890
19 years$2,495$2,041$1,658$1,339$1,075$777
20 years$2,345$1,896$1,522$1,213$961$679
21 years$2,210$1,766$1,400$1,101$860$595
22 years$2,087$1,649$1,290$1,001$771$522
23 years$1,975$1,542$1,191$911$692$459
24 years$1,873$1,445$1,102$831$622$403
25 years$1,779$1,356$1,020$759$559$355
26 years$1,692$1,274$946$694$504$312
27 years$1,612$1,199$879$635$454$275
28 years$1,538$1,130$817$582$410$243
29 years$1,469$1,066$760$534$370$214
30 years$1,405$1,007$708$490$334$189
31 years$1,345$952$660$450$302$167
32 years$1,288$901$616$413$274$147
33 years$1,236$853$575$380$248$130
34 years$1,186$808$537$350$224$115
35 years$1,140$767$502$322$203$102
36 years$1,096$728$470$297$184$90
37 years$1,055$691$440$273$167$80
38 years$1,015$657$412$252$151$70
39 years$978$625$386$232$137$62
40 years$943$594$362$214$124$55
41 years$910$566$339$198$113$49
42 years$878$539$318$182$102$43
43 years$848$513$299$168$93$38
44 years$820$489$280$155$84$34
45 years$793$467$263$144$77$30
46 years$767$445$247$133$69$27
47 years$742$425$232$123$63$23
48 years$718$406$218$113$57$21
49 years$695$387$205$105$52$18
50 years$674$370$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 $690,000, adding $5,829 every year, while hoping to spend $24,323 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: 70/25/5 Blend
70$690,000$690,000$690,000$690,000
71$766,393$729,823$719,128$819,239
72$818,685$739,704$717,339$864,798
73$875,496$749,255$714,675$911,059
74$937,261$758,433$711,081$960,997
75$1,004,459$767,193$706,499$1,014,968
76$1,077,616$775,488$700,869$1,073,362
77$1,157,313$783,267$694,128$1,136,610
78$1,244,186$790,474$686,209$1,205,187
79$1,338,939$797,053$677,043$1,279,614
80$1,442,343$802,942$666,556$1,360,469
81$1,555,250$808,074$654,674$1,448,387
82$1,678,596$812,380$641,316$1,544,067
83$1,813,412$815,785$626,398$1,648,280
84$1,960,832$818,210$609,835$1,761,878
85$2,122,106$819,572$591,534$1,885,797
86$2,298,610$819,780$571,399$2,021,071
87$2,491,859$818,740$549,332$2,168,837
88$2,703,521$816,351$525,227$2,330,352
89$2,935,434$812,506$498,976$2,506,999
90$3,189,621$807,092$470,464$2,700,304
91$3,468,310$799,987$439,573$2,911,946
92$3,773,956$791,065$406,177$3,143,782
93$4,109,262$780,190$370,146$3,397,852
94$4,477,206$767,218$331,345$3,676,410
95$4,881,067$751,998$289,632$3,981,939
96$5,324,458$734,368$244,857$4,317,176
97$5,811,359$714,158$196,866$4,685,138
98$6,346,154$691,189$145,497$5,089,152
99$6,933,673$665,267$90,582$5,532,884
100$7,579,234$636,193$31,943$6,020,376