Can I retire at age 71 with 690,000?

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 $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%17.1%
1 years$56,980$56,472$55,977$55,494$55,022$53,432
2 years$28,208$27,682$27,173$26,680$26,201$24,612
3 years$18,618$18,091$17,583$17,094$16,623$15,084
4 years$13,825$13,299$12,796$12,315$11,856$10,379
5 years$10,949$10,426$9,930$9,459$9,012$7,602
6 years$9,033$8,514$8,025$7,565$7,131$5,789
7 years$7,664$7,150$6,669$6,219$5,800$4,525
8 years$6,639$6,129$5,656$5,217$4,811$3,604
9 years$5,841$5,336$4,871$4,444$4,052$2,910
10 years$5,204$4,704$4,247$3,831$3,452$2,374
11 years$4,682$4,187$3,739$3,334$2,969$1,954
12 years$4,248$3,758$3,318$2,924$2,573$1,618
13 years$3,881$3,396$2,965$2,582$2,244$1,347
14 years$3,567$3,087$2,664$2,292$1,967$1,126
15 years$3,295$2,820$2,405$2,044$1,732$944
16 years$3,057$2,588$2,180$1,830$1,531$795
17 years$2,847$2,383$1,984$1,644$1,357$670
18 years$2,661$2,202$1,811$1,482$1,207$566
19 years$2,495$2,041$1,658$1,339$1,075$479
20 years$2,345$1,896$1,522$1,213$961$406
21 years$2,210$1,766$1,400$1,101$860$344
22 years$2,087$1,649$1,290$1,001$771$293
23 years$1,975$1,542$1,191$911$692$249
24 years$1,873$1,445$1,102$831$622$212
25 years$1,779$1,356$1,020$759$559$180
26 years$1,692$1,274$946$694$504$153
27 years$1,612$1,199$879$635$454$131
28 years$1,538$1,130$817$582$410$111
29 years$1,469$1,066$760$534$370$95
30 years$1,405$1,007$708$490$334$81
31 years$1,345$952$660$450$302$69
32 years$1,288$901$616$413$274$59
33 years$1,236$853$575$380$248$50
34 years$1,186$808$537$350$224$43
35 years$1,140$767$502$322$203$37
36 years$1,096$728$470$297$184$31
37 years$1,055$691$440$273$167$27
38 years$1,015$657$412$252$151$23
39 years$978$625$386$232$137$19
40 years$943$594$362$214$124$17
41 years$910$566$339$198$113$14
42 years$878$539$318$182$102$12
43 years$848$513$299$168$93$10
44 years$820$489$280$155$84$9
45 years$793$467$263$144$77$8
46 years$767$445$247$133$69$6
47 years$742$425$232$123$63$5
48 years$718$406$218$113$57$5
49 years$695$387$205$105$52$4
50 years$674$370$193$97$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $690,000, adding $2,958 every year, while hoping to spend $48,106 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: 57/18/25 Blend
70$690,000$690,000$690,000$690,000
71$763,431$726,861$716,166$801,597
72$790,117$711,293$688,973$812,480
73$817,912$693,350$659,257$818,994
74$846,879$672,864$626,883$825,082
75$877,086$649,659$591,708$830,716
76$908,603$623,547$553,585$835,866
77$941,511$594,331$512,360$840,506
78$975,892$561,801$467,871$844,607
79$1,011,838$525,734$419,950$848,141
80$1,049,448$485,897$368,420$851,079
81$1,088,827$442,041$313,098$853,396
82$1,130,091$393,905$253,791$855,064
83$1,173,366$341,212$190,298$856,058
84$1,218,787$283,669$122,411$856,354
85$1,266,502$220,967$49,910$855,930
86$1,316,670$152,780$0$854,766
87$1,369,467$78,763$0$860,171
88$1,425,082$0$0$879,489
89$1,483,721$0$0$899,737
90$1,545,610$0$0$937,596
91$1,610,994$0$0$977,619
92$1,680,140$0$0$1,019,972
93$1,753,342$0$0$1,064,838
94$1,830,917$0$0$1,112,416
95$1,913,216$0$0$1,162,925
96$2,000,618$0$0$1,216,602
97$2,093,542$0$0$1,273,709
98$2,192,443$0$0$1,334,531
99$2,297,820$0$0$1,399,380
100$2,410,221$0$0$1,468,598