Can I retire at age 71 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$57,640$57,127$56,626$56,137$55,660$54,314
2 years$28,535$28,003$27,488$26,989$26,505$25,157
3 years$18,834$18,300$17,787$17,292$16,816$15,508
4 years$13,985$13,453$12,944$12,458$11,993$10,736
5 years$11,076$10,547$10,045$9,569$9,117$7,913
6 years$9,137$8,613$8,118$7,652$7,214$6,065
7 years$7,753$7,233$6,746$6,291$5,867$4,773
8 years$6,716$6,200$5,721$5,278$4,867$3,828
9 years$5,909$5,398$4,928$4,495$4,099$3,114
10 years$5,264$4,758$4,296$3,875$3,492$2,560
11 years$4,737$4,236$3,782$3,373$3,004$2,122
12 years$4,298$3,802$3,357$2,958$2,603$1,772
13 years$3,926$3,436$2,999$2,612$2,270$1,487
14 years$3,608$3,123$2,695$2,318$1,990$1,253
15 years$3,333$2,853$2,433$2,067$1,752$1,060
16 years$3,092$2,618$2,206$1,851$1,548$900
17 years$2,880$2,411$2,007$1,663$1,373$765
18 years$2,692$2,228$1,832$1,499$1,221$652
19 years$2,524$2,064$1,677$1,354$1,088$557
20 years$2,372$1,918$1,539$1,227$972$476
21 years$2,236$1,787$1,416$1,113$870$408
22 years$2,111$1,668$1,305$1,012$780$350
23 years$1,998$1,560$1,205$922$700$300
24 years$1,895$1,462$1,114$841$629$258
25 years$1,800$1,372$1,032$768$566$221
26 years$1,712$1,289$957$702$510$190
27 years$1,631$1,213$889$643$460$164
28 years$1,556$1,143$826$589$415$141
29 years$1,486$1,079$769$540$374$121
30 years$1,421$1,019$716$496$338$104
31 years$1,360$963$668$455$306$90
32 years$1,303$911$623$418$277$78
33 years$1,250$863$582$385$250$67
34 years$1,200$818$544$354$227$58
35 years$1,153$776$508$326$205$50
36 years$1,109$736$475$300$186$43
37 years$1,067$699$445$276$169$37
38 years$1,027$664$417$255$153$32
39 years$990$632$390$235$139$27
40 years$954$601$366$217$126$24
41 years$921$572$343$200$114$20
42 years$889$545$322$185$104$18
43 years$858$519$302$170$94$15
44 years$829$495$283$157$85$13
45 years$802$472$266$145$77$11
46 years$775$450$250$134$70$10
47 years$750$430$235$124$64$8
48 years$726$410$221$115$58$7
49 years$703$392$207$106$53$6
50 years$681$374$195$98$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $698,000, adding $4,327 every year, while hoping to spend $38,604 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: 33/45/22 Blend
70$698,000$698,000$698,000$698,000
71$773,659$736,665$725,846$793,846
72$811,498$731,688$709,088$804,319
73$851,903$725,172$690,474$811,786
74$895,094$717,003$669,902$819,043
75$941,314$707,056$647,264$826,096
76$990,829$695,203$622,448$832,955
77$1,043,929$681,303$595,336$839,632
78$1,100,935$665,212$565,805$846,147
79$1,162,197$646,774$533,726$852,527
80$1,228,100$625,825$498,965$858,802
81$1,299,067$602,191$461,381$865,012
82$1,375,562$575,689$420,827$871,207
83$1,458,095$546,124$377,151$877,446
84$1,547,227$513,290$330,192$883,798
85$1,643,573$476,970$279,782$890,347
86$1,747,810$436,934$225,747$897,191
87$1,860,682$392,939$167,905$904,445
88$1,983,007$344,728$106,065$912,241
89$2,115,683$292,030$40,028$920,733
90$2,259,701$234,557$0$930,098
91$2,416,147$172,007$0$947,687
92$2,586,218$104,059$0$977,078
93$2,771,231$30,377$0$1,009,182
94$2,972,633$0$0$1,044,359
95$3,192,019$0$0$1,107,470
96$3,431,141$0$0$1,192,749
97$3,691,931$0$0$1,285,854
98$3,976,511$0$0$1,387,557
99$4,287,221$0$0$1,498,706
100$4,626,634$0$0$1,620,235