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%13.6%
1 years$61,191$60,646$60,114$59,595$59,088$58,205
2 years$30,293$29,728$29,182$28,652$28,137$27,250
3 years$19,994$19,428$18,882$18,357$17,851$16,987
4 years$14,846$14,282$13,742$13,225$12,732$11,897
5 years$11,758$11,197$10,664$10,158$9,679$8,876
6 years$9,700$9,143$8,618$8,124$7,658$6,888
7 years$8,231$7,678$7,162$6,679$6,228$5,492
8 years$7,129$6,582$6,074$5,603$5,167$4,463
9 years$6,273$5,731$5,231$4,772$4,351$3,681
10 years$5,588$5,051$4,561$4,114$3,708$3,069
11 years$5,029$4,497$4,015$3,580$3,189$2,582
12 years$4,562$4,036$3,563$3,140$2,763$2,187
13 years$4,168$3,647$3,184$2,772$2,410$1,864
14 years$3,831$3,315$2,861$2,461$2,112$1,596
15 years$3,538$3,029$2,583$2,195$1,860$1,372
16 years$3,283$2,779$2,342$1,965$1,644$1,183
17 years$3,058$2,559$2,131$1,766$1,457$1,023
18 years$2,858$2,365$1,945$1,591$1,296$887
19 years$2,679$2,192$1,781$1,438$1,155$770
20 years$2,518$2,037$1,634$1,302$1,032$670
21 years$2,373$1,897$1,503$1,182$923$584
22 years$2,242$1,771$1,385$1,075$828$510
23 years$2,121$1,656$1,279$979$743$445
24 years$2,011$1,552$1,183$893$668$389
25 years$1,910$1,456$1,096$815$601$341
26 years$1,817$1,369$1,016$745$541$298
27 years$1,731$1,288$944$682$488$261
28 years$1,652$1,214$877$625$440$229
29 years$1,577$1,145$816$573$398$201
30 years$1,508$1,081$760$526$359$176
31 years$1,444$1,022$709$483$325$155
32 years$1,384$967$661$444$294$136
33 years$1,327$916$618$408$266$120
34 years$1,274$868$577$376$241$105
35 years$1,224$823$539$346$218$92
36 years$1,177$782$505$319$198$81
37 years$1,132$742$472$293$179$71
38 years$1,090$705$442$270$162$63
39 years$1,051$671$414$249$147$55
40 years$1,013$638$388$230$134$49
41 years$977$608$364$212$121$43
42 years$943$579$342$196$110$38
43 years$911$551$321$181$100$33
44 years$880$525$301$167$91$29
45 years$851$501$283$154$82$26
46 years$823$478$265$142$75$23
47 years$797$456$249$132$68$20
48 years$771$435$234$122$62$17
49 years$747$416$220$112$56$15
50 years$723$397$207$104$51$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $741,000, adding $2,103 every year, while hoping to spend $20,449 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: 53/36/11 Blend
70$741,000$741,000$741,000$741,000
71$818,751$779,478$767,993$859,708
72$880,506$795,915$771,963$904,239
73$947,875$812,472$775,381$950,279
74$1,021,408$829,133$778,206$999,893
75$1,101,713$845,882$780,397$1,053,425
76$1,189,456$862,699$781,909$1,111,251
77$1,285,374$879,564$782,696$1,173,790
78$1,390,274$896,455$782,708$1,241,499
79$1,505,049$913,348$781,896$1,314,883
80$1,630,680$930,217$780,205$1,394,502
81$1,768,246$947,035$777,579$1,480,967
82$1,918,938$963,771$773,959$1,574,957
83$2,084,066$980,392$769,283$1,677,218
84$2,265,073$996,864$763,486$1,788,571
85$2,463,549$1,013,148$756,501$1,909,923
86$2,681,243$1,029,204$748,256$2,042,273
87$2,920,084$1,044,990$738,677$2,186,723
88$3,182,196$1,060,457$727,686$2,344,485
89$3,469,917$1,075,557$715,201$2,516,900
90$3,785,825$1,090,235$701,136$2,705,440
91$4,132,757$1,104,435$685,402$2,911,734
92$4,513,841$1,118,095$667,906$3,137,572
93$4,932,521$1,131,151$648,549$3,384,932
94$5,392,593$1,143,531$627,230$3,655,992
95$5,898,235$1,155,162$603,840$3,953,153
96$6,454,054$1,165,964$578,268$4,279,063
97$7,065,124$1,175,853$550,396$4,636,639
98$7,737,035$1,184,738$520,103$5,029,099
99$8,475,946$1,192,524$487,260$5,459,989
100$9,288,643$1,199,107$451,733$5,933,220