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%11.6%
1 years$61,191$60,646$60,114$59,595$59,088$58,691
2 years$30,293$29,728$29,182$28,652$28,137$27,737
3 years$19,994$19,428$18,882$18,357$17,851$17,460
4 years$14,846$14,282$13,742$13,225$12,732$12,352
5 years$11,758$11,197$10,664$10,158$9,679$9,312
6 years$9,700$9,143$8,618$8,124$7,658$7,306
7 years$8,231$7,678$7,162$6,679$6,228$5,889
8 years$7,129$6,582$6,074$5,603$5,167$4,842
9 years$6,273$5,731$5,231$4,772$4,351$4,040
10 years$5,588$5,051$4,561$4,114$3,708$3,410
11 years$5,029$4,497$4,015$3,580$3,189$2,904
12 years$4,562$4,036$3,563$3,140$2,763$2,492
13 years$4,168$3,647$3,184$2,772$2,410$2,151
14 years$3,831$3,315$2,861$2,461$2,112$1,866
15 years$3,538$3,029$2,583$2,195$1,860$1,626
16 years$3,283$2,779$2,342$1,965$1,644$1,422
17 years$3,058$2,559$2,131$1,766$1,457$1,247
18 years$2,858$2,365$1,945$1,591$1,296$1,096
19 years$2,679$2,192$1,781$1,438$1,155$966
20 years$2,518$2,037$1,634$1,302$1,032$853
21 years$2,373$1,897$1,503$1,182$923$755
22 years$2,242$1,771$1,385$1,075$828$668
23 years$2,121$1,656$1,279$979$743$593
24 years$2,011$1,552$1,183$893$668$527
25 years$1,910$1,456$1,096$815$601$468
26 years$1,817$1,369$1,016$745$541$416
27 years$1,731$1,288$944$682$488$371
28 years$1,652$1,214$877$625$440$330
29 years$1,577$1,145$816$573$398$295
30 years$1,508$1,081$760$526$359$263
31 years$1,444$1,022$709$483$325$235
32 years$1,384$967$661$444$294$209
33 years$1,327$916$618$408$266$187
34 years$1,274$868$577$376$241$167
35 years$1,224$823$539$346$218$149
36 years$1,177$782$505$319$198$134
37 years$1,132$742$472$293$179$119
38 years$1,090$705$442$270$162$107
39 years$1,051$671$414$249$147$96
40 years$1,013$638$388$230$134$85
41 years$977$608$364$212$121$76
42 years$943$579$342$196$110$68
43 years$911$551$321$181$100$61
44 years$880$525$301$167$91$55
45 years$851$501$283$154$82$49
46 years$823$478$265$142$75$44
47 years$797$456$249$132$68$39
48 years$771$435$234$122$62$35
49 years$747$416$220$112$56$32
50 years$723$397$207$104$51$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $741,000, adding $4,274 every year, while hoping to spend $29,181 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: 66/19/15 Blend
70$741,000$741,000$741,000$741,000
71$820,991$781,718$770,232$871,972
72$873,683$788,973$764,987$913,825
73$930,773$795,607$758,587$955,757
74$992,676$801,556$750,965$1,000,867
75$1,059,853$806,757$742,046$1,049,465
76$1,132,809$811,139$731,756$1,101,893
77$1,212,099$814,628$720,013$1,158,528
78$1,298,335$817,146$706,735$1,219,786
79$1,392,189$818,610$691,834$1,286,125
80$1,494,400$818,930$675,219$1,358,053
81$1,605,784$818,012$656,793$1,436,128
82$1,727,236$815,757$636,458$1,520,966
83$1,859,742$812,057$614,108$1,613,247
84$2,004,388$806,801$589,633$1,713,721
85$2,162,370$799,868$562,919$1,823,217
86$2,335,001$791,131$533,847$1,942,647
87$2,523,732$780,457$502,291$2,073,018
88$2,730,155$767,702$468,120$2,215,442
89$2,956,027$752,716$431,199$2,371,143
90$3,203,281$735,338$391,383$2,541,476
91$3,474,046$715,400$348,525$2,727,930
92$3,770,666$692,722$302,468$2,932,151
93$4,095,723$667,114$253,049$3,155,955
94$4,452,059$638,375$200,098$3,401,342
95$4,842,807$606,293$143,439$3,670,521
96$5,271,415$570,643$82,886$3,965,926
97$5,741,682$531,187$18,246$4,290,245
98$6,257,793$487,675$0$4,646,438
99$6,824,357$439,840$0$5,045,893
100$7,446,450$387,401$0$5,487,736