Can I retire at age 71 with 718,000?

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 $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%16%
1 years$59,292$58,764$58,248$57,745$57,254$55,848
2 years$29,352$28,806$28,276$27,762$27,264$25,855
3 years$19,374$18,825$18,296$17,788$17,297$15,931
4 years$14,386$13,838$13,315$12,815$12,337$11,023
5 years$11,393$10,849$10,333$9,843$9,378$8,121
6 years$9,399$8,859$8,351$7,872$7,421$6,221
7 years$7,975$7,440$6,939$6,472$6,035$4,893
8 years$6,908$6,377$5,885$5,429$5,007$3,922
9 years$6,078$5,553$5,069$4,624$4,216$3,188
10 years$5,415$4,894$4,419$3,986$3,592$2,619
11 years$4,872$4,357$3,891$3,469$3,090$2,170
12 years$4,421$3,911$3,453$3,043$2,677$1,810
13 years$4,039$3,534$3,085$2,686$2,335$1,518
14 years$3,712$3,213$2,772$2,385$2,047$1,279
15 years$3,429$2,935$2,503$2,127$1,802$1,081
16 years$3,181$2,693$2,269$1,904$1,593$917
17 years$2,963$2,480$2,065$1,711$1,412$779
18 years$2,769$2,291$1,885$1,542$1,256$664
19 years$2,596$2,124$1,725$1,393$1,119$566
20 years$2,440$1,973$1,583$1,262$1,000$484
21 years$2,300$1,838$1,456$1,145$895$414
22 years$2,172$1,716$1,342$1,041$802$355
23 years$2,056$1,605$1,239$948$720$304
24 years$1,949$1,504$1,146$865$647$261
25 years$1,851$1,411$1,062$790$582$224
26 years$1,761$1,326$985$722$524$193
27 years$1,678$1,248$914$661$473$165
28 years$1,600$1,176$850$606$427$142
29 years$1,528$1,109$791$555$385$122
30 years$1,462$1,048$737$510$348$105
31 years$1,399$990$687$468$315$91
32 years$1,341$937$641$430$285$78
33 years$1,286$888$598$396$258$67
34 years$1,234$841$559$364$233$58
35 years$1,186$798$523$335$211$50
36 years$1,140$757$489$309$191$43
37 years$1,097$719$458$284$173$37
38 years$1,057$684$429$262$157$32
39 years$1,018$650$402$242$143$27
40 years$982$618$376$223$129$24
41 years$947$589$353$206$117$20
42 years$914$561$331$190$106$18
43 years$883$534$311$175$97$15
44 years$853$509$292$162$88$13
45 years$825$486$274$149$80$11
46 years$798$463$257$138$72$10
47 years$772$442$242$128$66$8
48 years$747$422$227$118$60$7
49 years$724$403$213$109$54$6
50 years$701$385$201$101$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $718,000, adding $6,231 every year, while hoping to spend $27,720 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: 57/34/9 Blend
70$718,000$718,000$718,000$718,000
71$797,663$759,609$748,480$841,086
72$849,531$767,336$744,061$878,806
73$905,760$774,513$738,564$916,247
74$966,767$781,083$731,924$956,368
75$1,033,007$786,986$724,074$999,428
76$1,104,984$792,159$714,941$1,045,715
77$1,183,252$796,534$704,450$1,095,544
78$1,268,417$800,038$692,523$1,149,265
79$1,361,151$802,594$679,078$1,207,262
80$1,462,189$804,122$664,027$1,269,963
81$1,572,342$804,534$647,282$1,337,837
82$1,692,502$803,738$628,748$1,411,402
83$1,823,652$801,636$608,326$1,491,232
84$1,966,873$798,124$585,913$1,577,959
85$2,123,354$793,092$561,401$1,672,281
86$2,294,406$786,423$534,677$1,774,969
87$2,481,470$777,993$505,624$1,886,875
88$2,686,136$767,671$474,119$2,008,937
89$2,910,152$755,317$440,032$2,142,192
90$3,155,444$740,783$403,229$2,287,786
91$3,424,132$723,914$363,570$2,446,980
92$3,718,551$704,544$320,907$2,621,170
93$4,041,273$682,496$275,087$2,811,894
94$4,395,131$657,587$225,951$3,020,850
95$4,783,244$629,619$173,330$3,249,913
96$5,209,049$598,384$117,051$3,501,151
97$5,676,331$563,663$56,931$3,776,845
98$6,189,257$525,224$0$4,079,515
99$6,752,422$482,820$0$4,412,633
100$7,370,883$436,192$0$4,784,450