Can I retire at age 71 with 710,000?

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 $710,000?

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$58,631$58,109$57,599$57,102$56,616$56,330
2 years$29,025$28,485$27,961$27,453$26,960$26,672
3 years$19,158$18,615$18,093$17,589$17,105$16,822
4 years$14,225$13,684$13,167$12,672$12,199$11,925
5 years$11,266$10,728$10,218$9,733$9,274$9,009
6 years$9,295$8,761$8,258$7,784$7,338$7,083
7 years$7,887$7,357$6,862$6,400$5,968$5,723
8 years$6,831$6,306$5,820$5,368$4,951$4,715
9 years$6,011$5,491$5,012$4,573$4,169$3,944
10 years$5,355$4,840$4,370$3,942$3,552$3,336
11 years$4,818$4,309$3,847$3,430$3,055$2,849
12 years$4,372$3,867$3,414$3,009$2,648$2,450
13 years$3,994$3,495$3,050$2,656$2,309$2,121
14 years$3,670$3,177$2,741$2,358$2,024$1,844
15 years$3,390$2,902$2,475$2,103$1,782$1,611
16 years$3,146$2,663$2,244$1,883$1,575$1,413
17 years$2,930$2,452$2,042$1,692$1,396$1,242
18 years$2,738$2,266$1,864$1,525$1,242$1,095
19 years$2,567$2,100$1,706$1,378$1,107$968
20 years$2,413$1,951$1,566$1,248$989$857
21 years$2,274$1,818$1,440$1,132$885$761
22 years$2,148$1,697$1,327$1,030$793$676
23 years$2,033$1,587$1,226$938$712$601
24 years$1,927$1,487$1,133$855$640$536
25 years$1,830$1,395$1,050$781$576$478
26 years$1,741$1,311$974$714$519$426
27 years$1,659$1,234$904$654$468$381
28 years$1,582$1,163$841$599$422$340
29 years$1,511$1,097$782$549$381$304
30 years$1,445$1,036$729$504$344$272
31 years$1,383$979$679$463$311$244
32 years$1,326$927$634$425$281$218
33 years$1,272$878$592$391$255$196
34 years$1,221$832$553$360$231$176
35 years$1,173$789$517$331$209$157
36 years$1,128$749$484$305$189$141
37 years$1,085$711$453$281$172$127
38 years$1,045$676$424$259$156$114
39 years$1,007$643$397$239$141$102
40 years$971$612$372$220$128$92
41 years$936$582$349$203$116$82
42 years$904$554$327$188$105$74
43 years$873$528$307$173$96$66
44 years$844$503$288$160$87$60
45 years$816$480$271$148$79$54
46 years$789$458$254$136$72$48
47 years$763$437$239$126$65$43
48 years$739$417$225$117$59$39
49 years$716$398$211$108$54$35
50 years$693$381$198$100$49$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $710,000, adding $5,152 every year, while hoping to spend $51,544 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: 31/47/22 Blend
70$710,000$710,000$710,000$710,000
71$787,734$750,104$739,099$806,649
72$813,241$732,017$709,017$803,336
73$839,621$711,316$676,199$794,787
74$866,911$687,818$640,500$784,519
75$895,146$661,332$601,766$772,413
76$924,365$631,651$559,839$758,346
77$954,608$598,560$514,552$742,187
78$985,919$561,830$465,731$723,799
79$1,018,343$521,220$413,193$703,037
80$1,051,928$476,474$356,749$679,749
81$1,086,724$427,321$296,200$653,772
82$1,122,786$373,475$231,338$624,938
83$1,160,170$314,636$161,948$593,069
84$1,198,938$250,484$87,804$557,976
85$1,239,154$180,681$8,669$519,462
86$1,280,886$104,873$0$477,320
87$1,324,208$22,684$0$449,120
88$1,369,198$0$0$420,171
89$1,415,940$0$0$422,539
90$1,464,522$0$0$437,209
91$1,515,041$0$0$452,479
92$1,567,598$0$0$468,383
93$1,622,304$0$0$484,957
94$1,679,277$0$0$502,239
95$1,738,643$0$0$520,269
96$1,800,538$0$0$539,093
97$1,865,111$0$0$558,758
98$1,932,519$0$0$579,316
99$2,002,933$0$0$600,823
100$2,076,538$0$0$623,341