Can I retire at age 71 with 718,000?

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 $718,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$59,292$58,764$58,248$57,745$57,254$56,704
2 years$29,352$28,806$28,276$27,762$27,264$26,709
3 years$19,374$18,825$18,296$17,788$17,297$16,756
4 years$14,386$13,838$13,315$12,815$12,337$11,812
5 years$11,393$10,849$10,333$9,843$9,378$8,873
6 years$9,399$8,859$8,351$7,872$7,421$6,935
7 years$7,975$7,440$6,939$6,472$6,035$5,569
8 years$6,908$6,377$5,885$5,429$5,007$4,560
9 years$6,078$5,553$5,069$4,624$4,216$3,789
10 years$5,415$4,894$4,419$3,986$3,592$3,185
11 years$4,872$4,357$3,891$3,469$3,090$2,701
12 years$4,421$3,911$3,453$3,043$2,677$2,307
13 years$4,039$3,534$3,085$2,686$2,335$1,983
14 years$3,712$3,213$2,772$2,385$2,047$1,712
15 years$3,429$2,935$2,503$2,127$1,802$1,485
16 years$3,181$2,693$2,269$1,904$1,593$1,292
17 years$2,963$2,480$2,065$1,711$1,412$1,128
18 years$2,769$2,291$1,885$1,542$1,256$987
19 years$2,596$2,124$1,725$1,393$1,119$865
20 years$2,440$1,973$1,583$1,262$1,000$760
21 years$2,300$1,838$1,456$1,145$895$669
22 years$2,172$1,716$1,342$1,041$802$589
23 years$2,056$1,605$1,239$948$720$520
24 years$1,949$1,504$1,146$865$647$459
25 years$1,851$1,411$1,062$790$582$406
26 years$1,761$1,326$985$722$524$359
27 years$1,678$1,248$914$661$473$318
28 years$1,600$1,176$850$606$427$282
29 years$1,528$1,109$791$555$385$250
30 years$1,462$1,048$737$510$348$222
31 years$1,399$990$687$468$315$197
32 years$1,341$937$641$430$285$175
33 years$1,286$888$598$396$258$155
34 years$1,234$841$559$364$233$138
35 years$1,186$798$523$335$211$122
36 years$1,140$757$489$309$191$109
37 years$1,097$719$458$284$173$97
38 years$1,057$684$429$262$157$86
39 years$1,018$650$402$242$143$76
40 years$982$618$376$223$129$68
41 years$947$589$353$206$117$60
42 years$914$561$331$190$106$54
43 years$883$534$311$175$97$48
44 years$853$509$292$162$88$43
45 years$825$486$274$149$80$38
46 years$798$463$257$138$72$34
47 years$772$442$242$128$66$30
48 years$747$422$227$118$60$27
49 years$724$403$213$109$54$24
50 years$701$385$201$101$49$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $718,000, adding $6,989 every year, while hoping to spend $45,407 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: 66/13/21 Blend
70$718,000$718,000$718,000$718,000
71$798,445$760,391$749,262$846,454
72$831,574$749,338$726,050$868,486
73$866,560$736,221$700,538$886,729
74$903,545$720,891$672,602$905,602
75$942,683$703,191$642,110$925,167
76$984,142$682,954$608,927$945,494
77$1,028,108$660,002$572,909$966,664
78$1,074,782$634,148$533,908$988,763
79$1,124,382$605,194$491,767$1,011,892
80$1,177,152$572,931$446,324$1,036,163
81$1,233,353$537,137$397,407$1,061,699
82$1,293,275$497,576$344,840$1,088,640
83$1,357,234$454,002$288,437$1,117,142
84$1,425,576$406,153$228,004$1,147,380
85$1,498,681$353,750$163,338$1,179,548
86$1,576,965$296,503$94,229$1,213,864
87$1,660,884$234,101$20,455$1,250,568
88$1,750,941$166,218$0$1,289,933
89$1,847,683$92,509$0$1,345,315
90$1,951,714$12,609$0$1,409,731
91$2,063,698$0$0$1,479,024
92$2,184,360$0$0$1,564,232
93$2,314,499$0$0$1,658,114
94$2,454,995$0$0$1,759,503
95$2,606,809$0$0$1,869,100
96$2,771,003$0$0$1,987,674
97$2,948,742$0$0$2,116,074
98$3,141,305$0$0$2,255,228
99$3,350,101$0$0$2,406,160
100$3,576,678$0$0$2,569,995