Can I retire at age 71 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$61,356$60,810$60,277$59,756$59,248$57,629
2 years$30,374$29,809$29,260$28,729$28,213$26,594
3 years$20,048$19,480$18,933$18,407$17,900$16,331
4 years$14,886$14,320$13,779$13,261$12,766$11,260
5 years$11,790$11,227$10,693$10,186$9,705$8,265
6 years$9,727$9,168$8,641$8,146$7,679$6,307
7 years$8,253$7,699$7,181$6,697$6,245$4,941
8 years$7,149$6,600$6,090$5,618$5,181$3,944
9 years$6,290$5,746$5,245$4,785$4,363$3,193
10 years$5,603$5,065$4,573$4,125$3,718$2,612
11 years$5,042$4,509$4,026$3,590$3,197$2,154
12 years$4,575$4,047$3,573$3,149$2,771$1,789
13 years$4,179$3,657$3,192$2,780$2,416$1,493
14 years$3,841$3,324$2,868$2,468$2,118$1,252
15 years$3,548$3,037$2,590$2,201$1,865$1,053
16 years$3,292$2,786$2,348$1,971$1,648$888
17 years$3,066$2,566$2,136$1,771$1,461$751
18 years$2,865$2,371$1,950$1,596$1,299$637
19 years$2,686$2,198$1,785$1,442$1,158$540
20 years$2,525$2,042$1,639$1,306$1,034$459
21 years$2,380$1,902$1,507$1,185$926$391
22 years$2,248$1,776$1,389$1,078$830$333
23 years$2,127$1,661$1,283$981$745$284
24 years$2,017$1,556$1,186$895$669$242
25 years$1,916$1,460$1,099$817$602$207
26 years$1,822$1,372$1,019$747$543$177
27 years$1,736$1,292$946$684$489$151
28 years$1,656$1,217$880$627$441$129
29 years$1,582$1,148$819$575$399$110
30 years$1,512$1,084$762$527$360$95
31 years$1,448$1,025$711$484$326$81
32 years$1,387$970$663$445$295$69
33 years$1,331$918$619$409$267$59
34 years$1,277$870$579$377$241$51
35 years$1,227$826$541$347$219$43
36 years$1,180$784$506$319$198$37
37 years$1,136$744$474$294$180$32
38 years$1,093$707$444$271$163$27
39 years$1,054$673$416$250$148$23
40 years$1,016$640$389$231$134$20
41 years$980$609$365$213$121$17
42 years$946$580$343$196$110$15
43 years$914$553$321$181$100$13
44 years$883$527$302$167$91$11
45 years$853$502$283$155$82$9
46 years$825$479$266$143$75$8
47 years$799$457$250$132$68$7
48 years$773$437$235$122$62$6
49 years$749$417$221$113$56$5
50 years$725$398$208$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $743,000, adding $4,825 every year, while hoping to spend $30,398 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: 50/41/9 Blend
70$743,000$743,000$743,000$743,000
71$823,763$784,384$772,867$862,769
72$875,444$790,476$766,415$896,030
73$931,377$795,847$758,728$928,520
74$991,964$800,430$749,733$963,116
75$1,057,648$804,154$739,352$1,000,024
76$1,128,913$806,943$727,505$1,039,471
77$1,206,293$808,715$714,108$1,081,709
78$1,290,377$809,383$699,072$1,127,017
79$1,381,810$808,858$682,306$1,175,702
80$1,481,303$807,041$663,712$1,228,105
81$1,589,639$803,829$643,189$1,284,605
82$1,707,679$799,113$620,632$1,345,618
83$1,836,369$792,776$595,930$1,411,606
84$1,976,753$784,696$568,968$1,483,081
85$2,129,977$774,742$539,624$1,560,606
86$2,297,306$762,775$507,773$1,644,808
87$2,480,129$748,649$473,281$1,736,377
88$2,679,978$732,209$436,012$1,836,076
89$2,898,539$713,290$395,821$1,944,752
90$3,137,666$691,718$352,557$2,063,337
91$3,399,404$667,308$306,064$2,192,863
92$3,686,002$639,865$256,177$2,334,472
93$3,999,939$609,184$202,723$2,489,424
94$4,343,944$575,044$145,525$2,659,112
95$4,721,022$537,217$84,396$2,845,076
96$5,134,482$495,456$19,139$3,049,016
97$5,587,970$449,505$0$3,272,811
98$6,085,502$399,090$0$3,523,387
99$6,631,501$343,923$0$3,800,462
100$7,230,838$283,698$0$4,104,750