Can I retire at age 71 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$61,191$60,646$60,114$59,595$59,088$58,253
2 years$30,293$29,728$29,182$28,652$28,137$27,298
3 years$19,994$19,428$18,882$18,357$17,851$17,033
4 years$14,846$14,282$13,742$13,225$12,732$11,942
5 years$11,758$11,197$10,664$10,158$9,679$8,918
6 years$9,700$9,143$8,618$8,124$7,658$6,929
7 years$8,231$7,678$7,162$6,679$6,228$5,530
8 years$7,129$6,582$6,074$5,603$5,167$4,500
9 years$6,273$5,731$5,231$4,772$4,351$3,715
10 years$5,588$5,051$4,561$4,114$3,708$3,102
11 years$5,029$4,497$4,015$3,580$3,189$2,613
12 years$4,562$4,036$3,563$3,140$2,763$2,216
13 years$4,168$3,647$3,184$2,772$2,410$1,891
14 years$3,831$3,315$2,861$2,461$2,112$1,621
15 years$3,538$3,029$2,583$2,195$1,860$1,395
16 years$3,283$2,779$2,342$1,965$1,644$1,205
17 years$3,058$2,559$2,131$1,766$1,457$1,044
18 years$2,858$2,365$1,945$1,591$1,296$906
19 years$2,679$2,192$1,781$1,438$1,155$788
20 years$2,518$2,037$1,634$1,302$1,032$687
21 years$2,373$1,897$1,503$1,182$923$599
22 years$2,242$1,771$1,385$1,075$828$524
23 years$2,121$1,656$1,279$979$743$458
24 years$2,011$1,552$1,183$893$668$401
25 years$1,910$1,456$1,096$815$601$352
26 years$1,817$1,369$1,016$745$541$309
27 years$1,731$1,288$944$682$488$271
28 years$1,652$1,214$877$625$440$238
29 years$1,577$1,145$816$573$398$209
30 years$1,508$1,081$760$526$359$184
31 years$1,444$1,022$709$483$325$162
32 years$1,384$967$661$444$294$142
33 years$1,327$916$618$408$266$125
34 years$1,274$868$577$376$241$110
35 years$1,224$823$539$346$218$97
36 years$1,177$782$505$319$198$85
37 years$1,132$742$472$293$179$75
38 years$1,090$705$442$270$162$66
39 years$1,051$671$414$249$147$58
40 years$1,013$638$388$230$134$51
41 years$977$608$364$212$121$45
42 years$943$579$342$196$110$40
43 years$911$551$321$181$100$35
44 years$880$525$301$167$91$31
45 years$851$501$283$154$82$27
46 years$823$478$265$142$75$24
47 years$797$456$249$132$68$21
48 years$771$435$234$122$62$19
49 years$747$416$220$112$56$16
50 years$723$397$207$104$51$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $741,000, adding $5,179 every year, while hoping to spend $45,810 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: 52/35/13 Blend
70$741,000$741,000$741,000$741,000
71$821,924$782,651$771,166$861,558
72$857,019$772,260$748,258$878,807
73$894,158$759,823$723,048$892,250
74$933,502$745,194$695,410$905,829
75$975,225$728,215$665,212$919,569
76$1,019,518$708,718$632,317$933,499
77$1,066,592$686,528$596,582$947,655
78$1,116,674$661,457$557,857$962,080
79$1,170,015$633,309$515,986$976,824
80$1,226,889$601,874$470,804$991,946
81$1,287,597$566,931$422,141$1,007,513
82$1,352,467$528,246$369,818$1,023,605
83$1,421,860$485,571$313,649$1,040,311
84$1,496,172$438,646$253,438$1,057,738
85$1,575,836$387,194$188,983$1,076,004
86$1,661,328$330,924$120,070$1,095,247
87$1,753,170$269,525$46,479$1,115,623
88$1,851,935$202,674$0$1,137,310
89$1,958,252$130,025$0$1,164,956
90$2,072,812$51,214$0$1,201,513
91$2,196,375$0$0$1,240,821
92$2,329,772$0$0$1,296,356
93$2,473,922$0$0$1,377,741
94$2,629,830$0$0$1,465,825
95$2,798,603$0$0$1,561,242
96$2,981,457$0$0$1,664,687
97$3,179,731$0$0$1,776,926
98$3,394,894$0$0$1,898,799
99$3,628,566$0$0$2,031,234
100$3,882,525$0$0$2,175,248