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%12.2%
1 years$61,109$60,564$60,033$59,515$59,009$58,465
2 years$30,252$29,688$29,142$28,613$28,099$27,552
3 years$19,967$19,402$18,857$18,333$17,827$17,293
4 years$14,826$14,262$13,723$13,208$12,715$12,197
5 years$11,743$11,182$10,650$10,145$9,665$9,167
6 years$9,687$9,131$8,607$8,113$7,648$7,168
7 years$8,220$7,668$7,152$6,670$6,220$5,759
8 years$7,120$6,573$6,066$5,595$5,160$4,719
9 years$6,265$5,723$5,224$4,766$4,345$3,923
10 years$5,581$5,044$4,555$4,108$3,703$3,300
11 years$5,022$4,491$4,010$3,575$3,184$2,800
12 years$4,556$4,031$3,559$3,136$2,759$2,393
13 years$4,163$3,643$3,179$2,769$2,406$2,058
14 years$3,826$3,311$2,857$2,458$2,109$1,778
15 years$3,534$3,025$2,579$2,192$1,857$1,543
16 years$3,278$2,775$2,338$1,963$1,641$1,344
17 years$3,054$2,556$2,128$1,763$1,455$1,174
18 years$2,854$2,362$1,942$1,589$1,294$1,028
19 years$2,675$2,189$1,778$1,436$1,153$902
20 years$2,515$2,034$1,632$1,301$1,030$793
21 years$2,370$1,894$1,501$1,180$922$698
22 years$2,238$1,768$1,383$1,073$826$616
23 years$2,119$1,654$1,277$977$742$544
24 years$2,009$1,550$1,181$891$667$481
25 years$1,908$1,454$1,094$814$600$425
26 years$1,815$1,367$1,015$744$540$377
27 years$1,729$1,286$942$681$487$334
28 years$1,649$1,212$876$624$440$296
29 years$1,575$1,143$815$572$397$263
30 years$1,506$1,080$759$525$359$233
31 years$1,442$1,021$708$483$324$207
32 years$1,382$966$661$443$293$184
33 years$1,325$915$617$408$266$163
34 years$1,272$867$576$375$240$145
35 years$1,222$822$539$345$218$129
36 years$1,175$780$504$318$197$115
37 years$1,131$741$472$293$179$102
38 years$1,089$704$442$270$162$91
39 years$1,049$670$414$249$147$81
40 years$1,012$637$388$230$133$72
41 years$976$607$364$212$121$64
42 years$942$578$341$196$110$57
43 years$910$551$320$181$100$51
44 years$879$525$301$167$90$45
45 years$850$500$282$154$82$40
46 years$822$477$265$142$75$36
47 years$796$456$249$131$68$32
48 years$770$435$234$121$61$29
49 years$746$415$220$112$56$25
50 years$722$397$207$104$51$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $740,000, adding $6,538 every year, while hoping to spend $20,258 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: 88/7/5 Blend
70$740,000$740,000$740,000$740,000
71$822,224$783,004$771,534$894,085
72$884,536$799,817$775,826$958,654
73$952,526$816,774$779,583$1,026,091
74$1,026,750$833,863$782,765$1,099,556
75$1,107,822$851,066$785,332$1,179,642
76$1,196,419$868,367$787,239$1,266,999
77$1,293,284$885,747$788,442$1,362,346
78$1,399,236$903,186$788,892$1,466,473
79$1,515,177$920,661$788,539$1,580,251
80$1,642,101$938,150$787,331$1,704,638
81$1,781,101$955,625$785,212$1,840,691
82$1,933,382$973,059$782,125$1,989,573
83$2,100,269$990,421$778,009$2,152,563
84$2,283,224$1,007,679$772,799$2,331,074
85$2,483,855$1,024,797$766,430$2,526,659
86$2,703,934$1,041,738$758,831$2,741,031
87$2,945,413$1,058,461$749,930$2,976,075
88$3,210,442$1,074,923$739,650$3,233,870
89$3,501,389$1,091,075$727,910$3,516,703
90$3,820,862$1,106,869$714,626$3,827,098
91$4,171,734$1,122,251$699,710$4,167,831
92$4,557,172$1,137,162$683,071$4,541,965
93$4,980,662$1,151,541$664,613$4,952,870
94$5,446,045$1,165,322$644,233$5,404,262
95$5,957,554$1,178,436$621,828$5,900,236
96$6,519,852$1,190,806$597,286$6,445,302
97$7,138,075$1,202,353$570,493$7,044,428
98$7,817,882$1,212,992$541,328$7,703,092
99$8,565,509$1,222,632$509,665$8,427,327
100$9,387,825$1,231,175$475,373$9,223,780