Can I retire at age 71 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$61,109$60,564$60,033$59,515$59,009$57,912
2 years$30,252$29,688$29,142$28,613$28,099$26,999
3 years$19,967$19,402$18,857$18,333$17,827$16,757
4 years$14,826$14,262$13,723$13,208$12,715$11,683
5 years$11,743$11,182$10,650$10,145$9,665$8,675
6 years$9,687$9,131$8,607$8,113$7,648$6,700
7 years$8,220$7,668$7,152$6,670$6,220$5,314
8 years$7,120$6,573$6,066$5,595$5,160$4,297
9 years$6,265$5,723$5,224$4,766$4,345$3,524
10 years$5,581$5,044$4,555$4,108$3,703$2,923
11 years$5,022$4,491$4,010$3,575$3,184$2,445
12 years$4,556$4,031$3,559$3,136$2,759$2,059
13 years$4,163$3,643$3,179$2,769$2,406$1,744
14 years$3,826$3,311$2,857$2,458$2,109$1,484
15 years$3,534$3,025$2,579$2,192$1,857$1,268
16 years$3,278$2,775$2,338$1,963$1,641$1,087
17 years$3,054$2,556$2,128$1,763$1,455$934
18 years$2,854$2,362$1,942$1,589$1,294$804
19 years$2,675$2,189$1,778$1,436$1,153$694
20 years$2,515$2,034$1,632$1,301$1,030$600
21 years$2,370$1,894$1,501$1,180$922$519
22 years$2,238$1,768$1,383$1,073$826$450
23 years$2,119$1,654$1,277$977$742$390
24 years$2,009$1,550$1,181$891$667$339
25 years$1,908$1,454$1,094$814$600$294
26 years$1,815$1,367$1,015$744$540$256
27 years$1,729$1,286$942$681$487$223
28 years$1,649$1,212$876$624$440$194
29 years$1,575$1,143$815$572$397$169
30 years$1,506$1,080$759$525$359$147
31 years$1,442$1,021$708$483$324$128
32 years$1,382$966$661$443$293$112
33 years$1,325$915$617$408$266$97
34 years$1,272$867$576$375$240$85
35 years$1,222$822$539$345$218$74
36 years$1,175$780$504$318$197$65
37 years$1,131$741$472$293$179$56
38 years$1,089$704$442$270$162$49
39 years$1,049$670$414$249$147$43
40 years$1,012$637$388$230$133$37
41 years$976$607$364$212$121$33
42 years$942$578$341$196$110$29
43 years$910$551$320$181$100$25
44 years$879$525$301$167$90$22
45 years$850$500$282$154$82$19
46 years$822$477$265$142$75$17
47 years$796$456$249$131$68$14
48 years$770$435$234$121$61$13
49 years$746$415$220$112$56$11
50 years$722$397$207$104$51$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $740,000, adding $3,419 every year, while hoping to spend $37,174 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: 45/34/21 Blend
70$740,000$740,000$740,000$740,000
71$819,007$779,787$768,317$850,770
72$862,993$778,443$754,502$872,104
73$910,219$775,788$738,980$891,294
74$960,977$771,718$721,651$911,342
75$1,015,588$766,123$702,417$932,345
76$1,074,401$758,886$681,171$954,414
77$1,137,802$749,884$657,803$977,670
78$1,206,215$738,986$632,197$1,002,253
79$1,280,106$726,053$604,233$1,028,318
80$1,359,986$710,938$573,783$1,056,039
81$1,446,417$693,486$540,717$1,085,610
82$1,540,016$673,532$504,896$1,117,250
83$1,641,464$650,902$466,176$1,151,201
84$1,751,507$625,409$424,407$1,187,736
85$1,870,967$596,860$379,431$1,227,158
86$2,000,747$565,048$331,083$1,269,806
87$2,141,841$529,753$279,192$1,316,059
88$2,295,343$490,745$223,579$1,366,336
89$2,462,456$447,780$164,057$1,421,107
90$2,644,503$400,598$100,429$1,480,893
91$2,842,941$348,926$32,493$1,546,277
92$3,059,375$292,477$0$1,617,904
93$3,295,568$230,945$0$1,705,456
94$3,553,463$164,009$0$1,809,120
95$3,835,198$91,327$0$1,922,546
96$4,143,128$12,541$0$2,046,774
97$4,479,843$0$0$2,182,953
98$4,848,199$0$0$2,359,564
99$5,251,336$0$0$2,558,073
100$5,692,715$0$0$2,775,502