Can I retire at age 71 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$59,127$58,600$58,086$57,585$57,095$56,759
2 years$29,271$28,725$28,197$27,685$27,188$26,849
3 years$19,320$18,772$18,245$17,738$17,249$16,918
4 years$14,346$13,800$13,278$12,779$12,302$11,981
5 years$11,362$10,819$10,304$9,816$9,352$9,042
6 years$9,373$8,835$8,327$7,850$7,400$7,101
7 years$7,953$7,419$6,920$6,454$6,018$5,731
8 years$6,889$6,360$5,869$5,414$4,993$4,717
9 years$6,061$5,537$5,055$4,611$4,204$3,940
10 years$5,400$4,881$4,407$3,975$3,582$3,329
11 years$4,859$4,345$3,880$3,459$3,081$2,839
12 years$4,408$3,900$3,443$3,034$2,670$2,439
13 years$4,028$3,524$3,076$2,679$2,328$2,108
14 years$3,701$3,204$2,764$2,378$2,041$1,831
15 years$3,419$2,927$2,496$2,121$1,797$1,598
16 years$3,172$2,685$2,263$1,899$1,588$1,399
17 years$2,955$2,473$2,059$1,706$1,408$1,229
18 years$2,761$2,285$1,879$1,538$1,252$1,082
19 years$2,589$2,118$1,721$1,389$1,116$955
20 years$2,433$1,968$1,579$1,258$997$844
21 years$2,293$1,833$1,452$1,142$892$748
22 years$2,166$1,711$1,339$1,038$800$664
23 years$2,050$1,600$1,236$946$718$589
24 years$1,944$1,499$1,143$862$645$524
25 years$1,846$1,407$1,059$788$581$467
26 years$1,756$1,322$982$720$523$416
27 years$1,673$1,245$912$659$471$371
28 years$1,596$1,173$848$604$425$331
29 years$1,524$1,106$789$554$384$296
30 years$1,457$1,045$735$508$347$264
31 years$1,395$988$685$467$314$236
32 years$1,337$935$639$429$284$211
33 years$1,282$885$597$395$257$189
34 years$1,231$839$558$363$233$169
35 years$1,183$796$521$334$211$151
36 years$1,137$755$488$308$191$136
37 years$1,094$717$456$284$173$121
38 years$1,054$682$427$261$157$109
39 years$1,015$648$400$241$142$97
40 years$979$617$375$222$129$87
41 years$944$587$352$205$117$78
42 years$912$559$330$189$106$70
43 years$880$533$310$175$96$63
44 years$851$508$291$161$87$56
45 years$822$484$273$149$79$51
46 years$795$462$256$138$72$45
47 years$770$441$241$127$65$41
48 years$745$421$226$117$59$37
49 years$722$402$213$109$54$33
50 years$699$384$200$100$49$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $716,000, adding $5,317 every year, while hoping to spend $37,481 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: 31/42/27 Blend
70$716,000$716,000$716,000$716,000
71$794,516$756,568$745,470$812,436
72$835,678$753,761$730,564$823,879
73$879,781$749,559$713,902$832,522
74$927,087$743,856$695,387$841,083
75$977,882$736,537$674,914$849,580
76$1,032,479$727,481$652,377$858,037
77$1,091,223$716,559$627,663$866,483
78$1,154,492$703,634$600,654$874,956
79$1,222,702$688,563$571,227$883,499
80$1,296,308$671,193$539,253$892,165
81$1,375,811$651,362$504,598$901,016
82$1,461,764$628,898$467,122$910,126
83$1,554,770$603,621$426,677$919,581
84$1,655,496$575,338$383,111$929,482
85$1,764,674$543,847$336,262$939,944
86$1,883,108$508,932$285,964$951,100
87$2,011,683$470,368$232,042$963,105
88$2,151,372$427,914$174,313$976,135
89$2,303,247$381,316$112,586$990,390
90$2,468,484$330,306$46,664$1,006,099
91$2,648,379$274,602$0$1,023,523
92$2,844,360$213,903$0$1,049,781
93$3,057,995$147,895$0$1,093,172
94$3,291,011$76,242$0$1,140,682
95$3,545,310$0$0$1,192,804
96$3,822,984$0$0$1,250,738
97$4,126,335$0$0$1,352,628
98$4,457,901$0$0$1,464,102
99$4,820,473$0$0$1,586,111
100$5,217,126$0$0$1,719,705