Can I retire at age 71 with 708,000?

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 $708,000?

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$58,466$57,945$57,437$56,941$56,457$55,751
2 years$28,944$28,405$27,882$27,376$26,884$26,174
3 years$19,104$18,563$18,042$17,540$17,056$16,364
4 years$14,185$13,646$13,130$12,636$12,165$11,496
5 years$11,235$10,698$10,189$9,706$9,248$8,603
6 years$9,268$8,736$8,234$7,762$7,317$6,699
7 years$7,864$7,336$6,843$6,382$5,951$5,358
8 years$6,812$6,289$5,803$5,353$4,937$4,370
9 years$5,994$5,475$4,998$4,560$4,158$3,617
10 years$5,339$4,826$4,358$3,931$3,542$3,027
11 years$4,805$4,297$3,836$3,421$3,047$2,556
12 years$4,359$3,856$3,405$3,001$2,640$2,174
13 years$3,983$3,485$3,042$2,649$2,302$1,859
14 years$3,660$3,168$2,733$2,351$2,018$1,598
15 years$3,381$2,894$2,468$2,097$1,777$1,379
16 years$3,137$2,655$2,237$1,878$1,570$1,195
17 years$2,922$2,445$2,036$1,687$1,392$1,037
18 years$2,730$2,259$1,858$1,520$1,238$903
19 years$2,560$2,094$1,701$1,374$1,104$788
20 years$2,406$1,946$1,561$1,244$986$689
21 years$2,268$1,813$1,436$1,129$882$603
22 years$2,142$1,692$1,324$1,027$791$528
23 years$2,027$1,582$1,222$935$710$464
24 years$1,922$1,483$1,130$853$638$407
25 years$1,825$1,391$1,047$779$574$358
26 years$1,736$1,308$971$712$517$315
27 years$1,654$1,231$902$652$466$278
28 years$1,578$1,160$838$597$421$245
29 years$1,507$1,094$780$548$380$216
30 years$1,441$1,033$727$503$343$190
31 years$1,380$977$677$462$310$168
32 years$1,322$924$632$424$281$148
33 years$1,268$875$590$390$254$131
34 years$1,217$829$551$359$230$115
35 years$1,169$787$515$330$208$102
36 years$1,124$747$482$304$189$90
37 years$1,082$709$451$280$171$80
38 years$1,042$674$423$258$155$70
39 years$1,004$641$396$238$141$62
40 years$968$610$371$220$128$55
41 years$934$580$348$203$116$49
42 years$901$553$326$187$105$43
43 years$871$527$306$173$95$38
44 years$841$502$288$160$87$34
45 years$813$479$270$147$79$30
46 years$787$457$254$136$71$26
47 years$761$436$238$126$65$23
48 years$737$416$224$116$59$21
49 years$714$397$210$107$53$18
50 years$691$380$198$99$49$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $708,000, adding $4,710 every year, while hoping to spend $42,551 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: 38/37/25 Blend
70$708,000$708,000$708,000$708,000
71$785,074$747,550$736,576$808,900
72$819,878$738,906$715,978$818,069
73$856,806$728,413$693,263$823,684
74$896,029$715,934$668,316$828,916
75$937,735$701,326$641,016$833,757
76$982,130$684,437$611,237$838,201
77$1,029,439$665,107$578,845$842,245
78$1,079,909$643,163$543,703$845,892
79$1,133,808$618,427$505,665$849,146
80$1,191,433$590,707$464,582$852,019
81$1,253,108$559,800$420,294$854,527
82$1,319,189$525,494$372,638$856,693
83$1,390,065$487,562$321,440$858,550
84$1,466,165$445,766$266,522$860,136
85$1,547,958$399,853$207,694$861,503
86$1,635,959$349,555$144,761$862,711
87$1,730,735$294,591$77,519$863,836
88$1,832,907$234,663$5,753$864,968
89$1,943,158$169,457$0$866,212
90$2,062,239$98,638$0$886,589
91$2,190,974$21,858$0$910,215
92$2,330,268$0$0$935,791
93$2,481,119$0$0$988,521
94$2,644,622$0$0$1,055,399
95$2,821,980$0$0$1,128,030
96$3,014,518$0$0$1,206,965
97$3,223,693$0$0$1,292,814
98$3,451,107$0$0$1,386,247
99$3,698,524$0$0$1,487,998
100$3,967,882$0$0$1,598,879