Can I retire at age 71 with 741,000?

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 $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%14.2%
1 years$61,191$60,646$60,114$59,595$59,088$58,062
2 years$30,293$29,728$29,182$28,652$28,137$27,106
3 years$19,994$19,428$18,882$18,357$17,851$16,848
4 years$14,846$14,282$13,742$13,225$12,732$11,764
5 years$11,758$11,197$10,664$10,158$9,679$8,749
6 years$9,700$9,143$8,618$8,124$7,658$6,768
7 years$8,231$7,678$7,162$6,679$6,228$5,378
8 years$7,129$6,582$6,074$5,603$5,167$4,356
9 years$6,273$5,731$5,231$4,772$4,351$3,579
10 years$5,588$5,051$4,561$4,114$3,708$2,973
11 years$5,029$4,497$4,015$3,580$3,189$2,492
12 years$4,562$4,036$3,563$3,140$2,763$2,103
13 years$4,168$3,647$3,184$2,772$2,410$1,785
14 years$3,831$3,315$2,861$2,461$2,112$1,522
15 years$3,538$3,029$2,583$2,195$1,860$1,303
16 years$3,283$2,779$2,342$1,965$1,644$1,119
17 years$3,058$2,559$2,131$1,766$1,457$964
18 years$2,858$2,365$1,945$1,591$1,296$832
19 years$2,679$2,192$1,781$1,438$1,155$719
20 years$2,518$2,037$1,634$1,302$1,032$623
21 years$2,373$1,897$1,503$1,182$923$540
22 years$2,242$1,771$1,385$1,075$828$469
23 years$2,121$1,656$1,279$979$743$408
24 years$2,011$1,552$1,183$893$668$355
25 years$1,910$1,456$1,096$815$601$309
26 years$1,817$1,369$1,016$745$541$270
27 years$1,731$1,288$944$682$488$235
28 years$1,652$1,214$877$625$440$205
29 years$1,577$1,145$816$573$398$179
30 years$1,508$1,081$760$526$359$156
31 years$1,444$1,022$709$483$325$137
32 years$1,384$967$661$444$294$119
33 years$1,327$916$618$408$266$104
34 years$1,274$868$577$376$241$91
35 years$1,224$823$539$346$218$80
36 years$1,177$782$505$319$198$70
37 years$1,132$742$472$293$179$61
38 years$1,090$705$442$270$162$53
39 years$1,051$671$414$249$147$47
40 years$1,013$638$388$230$134$41
41 years$977$608$364$212$121$36
42 years$943$579$342$196$110$31
43 years$911$551$321$181$100$27
44 years$880$525$301$167$91$24
45 years$851$501$283$154$82$21
46 years$823$478$265$142$75$18
47 years$797$456$249$132$68$16
48 years$771$435$234$122$62$14
49 years$747$416$220$112$56$12
50 years$723$397$207$104$51$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $741,000, adding $2,840 every year, while hoping to spend $42,834 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: 48/39/13 Blend
70$741,000$741,000$741,000$741,000
71$819,511$780,238$768,753$855,766
72$857,527$772,895$748,931$873,720
73$897,984$763,756$727,010$888,540
74$941,086$752,689$702,873$903,676
75$987,058$739,552$676,400$919,173
76$1,036,144$724,195$647,465$935,081
77$1,088,611$706,461$615,935$951,460
78$1,144,753$686,181$581,673$968,378
79$1,204,892$663,179$544,534$985,915
80$1,269,382$637,265$504,366$1,004,158
81$1,338,610$608,242$461,014$1,023,212
82$1,413,001$575,899$414,311$1,043,193
83$1,493,022$540,014$364,085$1,064,234
84$1,579,187$500,351$310,159$1,086,486
85$1,672,057$456,661$252,342$1,110,119
86$1,772,252$408,682$190,440$1,135,328
87$1,880,450$356,136$124,249$1,162,331
88$1,997,399$298,729$53,554$1,191,374
89$2,123,918$236,152$0$1,222,734
90$2,260,910$168,076$0$1,259,760
91$2,409,366$94,155$0$1,307,890
92$2,570,377$14,024$0$1,360,116
93$2,745,141$0$0$1,416,913
94$2,934,978$0$0$1,510,014
95$3,141,338$0$0$1,617,832
96$3,365,817$0$0$1,735,192
97$3,610,171$0$0$1,863,022
98$3,876,331$0$0$2,002,342
99$4,166,425$0$0$2,154,275
100$4,482,791$0$0$2,320,058