Can I retire at age 71 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$57,062$56,554$56,058$55,574$55,101$54,823
2 years$28,249$27,722$27,213$26,718$26,239$25,958
3 years$18,645$18,117$17,608$17,119$16,647$16,372
4 years$13,845$13,318$12,814$12,333$11,873$11,606
5 years$10,965$10,441$9,944$9,473$9,025$8,768
6 years$9,046$8,526$8,037$7,576$7,142$6,893
7 years$7,676$7,160$6,678$6,228$5,808$5,569
8 years$6,648$6,138$5,664$5,225$4,818$4,589
9 years$5,850$5,344$4,878$4,450$4,058$3,838
10 years$5,211$4,710$4,253$3,836$3,457$3,247
11 years$4,689$4,193$3,744$3,339$2,973$2,772
12 years$4,255$3,764$3,323$2,928$2,577$2,385
13 years$3,887$3,401$2,969$2,585$2,247$2,064
14 years$3,572$3,092$2,668$2,295$1,970$1,795
15 years$3,300$2,824$2,408$2,047$1,734$1,568
16 years$3,061$2,591$2,184$1,833$1,533$1,375
17 years$2,851$2,386$1,987$1,647$1,359$1,209
18 years$2,665$2,205$1,814$1,484$1,208$1,066
19 years$2,498$2,044$1,660$1,341$1,077$942
20 years$2,348$1,899$1,524$1,214$962$835
21 years$2,213$1,769$1,402$1,102$861$740
22 years$2,090$1,651$1,292$1,002$772$658
23 years$1,978$1,544$1,193$913$693$585
24 years$1,876$1,447$1,103$832$623$521
25 years$1,782$1,358$1,022$760$560$465
26 years$1,695$1,276$948$695$505$415
27 years$1,614$1,201$880$636$455$371
28 years$1,540$1,132$818$583$411$331
29 years$1,471$1,068$761$535$371$296
30 years$1,407$1,008$709$491$335$265
31 years$1,346$953$661$451$303$237
32 years$1,290$902$617$414$274$213
33 years$1,237$854$576$381$248$191
34 years$1,188$810$538$350$224$171
35 years$1,141$768$503$323$203$153
36 years$1,097$729$471$297$184$137
37 years$1,056$692$440$274$167$123
38 years$1,017$658$412$252$151$111
39 years$980$626$386$233$137$99
40 years$945$595$362$215$124$89
41 years$911$567$340$198$113$80
42 years$880$540$319$183$102$72
43 years$850$514$299$169$93$65
44 years$821$490$281$156$84$58
45 years$794$467$264$144$77$52
46 years$768$446$247$133$70$47
47 years$743$425$233$123$63$42
48 years$719$406$218$113$57$38
49 years$696$388$205$105$52$34
50 years$675$370$193$97$47$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $691,000, adding $4,543 every year, while hoping to spend $48,118 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: 63/27/10 Blend
70$691,000$691,000$691,000$691,000
71$766,168$729,545$718,835$812,462
72$793,120$714,096$691,718$828,513
73$821,208$696,276$662,081$840,034
74$850,498$675,921$629,787$851,400
75$881,060$652,851$594,696$862,596
76$912,969$626,882$556,659$873,605
77$946,306$597,814$515,522$884,414
78$981,161$565,439$471,124$895,006
79$1,017,629$529,534$423,296$905,369
80$1,055,813$489,867$371,862$915,490
81$1,095,824$446,189$316,638$925,357
82$1,137,785$398,239$257,432$934,961
83$1,181,827$345,740$194,043$944,295
84$1,228,092$288,401$126,263$953,353
85$1,276,737$225,912$53,872$962,134
86$1,327,930$157,947$0$970,639
87$1,381,855$84,163$0$981,369
88$1,438,712$4,195$0$998,136
89$1,498,720$0$0$1,015,228
90$1,562,117$0$0$1,057,160
91$1,629,161$0$0$1,102,844
92$1,700,137$0$0$1,151,231
93$1,775,353$0$0$1,202,534
94$1,855,149$0$0$1,256,987
95$1,939,893$0$0$1,314,846
96$2,029,990$0$0$1,376,390
97$2,125,881$0$0$1,441,926
98$2,228,052$0$0$1,511,789
99$2,337,032$0$0$1,586,345
100$2,453,403$0$0$1,665,997