Can I retire at age 71 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$61,521$60,973$60,439$59,917$59,407$58,885
2 years$30,456$29,889$29,339$28,806$28,289$27,763
3 years$20,102$19,533$18,984$18,456$17,948$17,434
4 years$14,927$14,359$13,816$13,297$12,801$12,303
5 years$11,822$11,257$10,722$10,213$9,731$9,251
6 years$9,753$9,192$8,665$8,168$7,700$7,238
7 years$8,275$7,720$7,200$6,715$6,262$5,819
8 years$7,168$6,617$6,106$5,633$5,195$4,770
9 years$6,307$5,762$5,260$4,798$4,375$3,968
10 years$5,619$5,079$4,585$4,136$3,728$3,339
11 years$5,056$4,521$4,037$3,600$3,206$2,835
12 years$4,587$4,058$3,583$3,157$2,778$2,425
13 years$4,191$3,667$3,201$2,787$2,423$2,087
14 years$3,851$3,333$2,876$2,474$2,124$1,804
15 years$3,558$3,045$2,597$2,207$1,870$1,567
16 years$3,301$2,794$2,354$1,976$1,653$1,365
17 years$3,074$2,573$2,142$1,775$1,465$1,193
18 years$2,873$2,378$1,956$1,600$1,303$1,046
19 years$2,694$2,203$1,790$1,446$1,161$918
20 years$2,532$2,048$1,643$1,309$1,037$808
21 years$2,386$1,907$1,511$1,188$928$712
22 years$2,254$1,780$1,393$1,080$832$628
23 years$2,133$1,665$1,286$984$747$555
24 years$2,022$1,560$1,189$897$671$491
25 years$1,921$1,464$1,102$820$604$435
26 years$1,827$1,376$1,022$749$544$385
27 years$1,741$1,295$949$686$491$342
28 years$1,660$1,220$882$628$443$303
29 years$1,586$1,151$821$576$400$269
30 years$1,516$1,087$764$529$361$239
31 years$1,452$1,028$713$486$327$213
32 years$1,391$972$665$446$295$189
33 years$1,334$921$621$411$267$168
34 years$1,281$873$580$378$242$150
35 years$1,231$828$542$348$219$133
36 years$1,183$786$507$320$199$119
37 years$1,139$746$475$295$180$106
38 years$1,096$709$445$272$163$94
39 years$1,056$674$417$251$148$84
40 years$1,019$642$391$231$134$75
41 years$983$611$366$213$122$67
42 years$948$582$343$197$110$59
43 years$916$554$322$182$100$53
44 years$885$528$303$168$91$47
45 years$856$504$284$155$83$42
46 years$828$481$267$143$75$37
47 years$801$459$251$132$68$33
48 years$775$438$236$122$62$30
49 years$751$418$221$113$56$27
50 years$727$399$208$104$51$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $745,000, adding $3,164 every year, while hoping to spend $42,564 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: 38/40/22 Blend
70$745,000$745,000$745,000$745,000
71$824,254$784,769$773,221$850,046
72$863,040$777,935$753,836$862,204
73$904,355$769,339$732,375$871,113
74$948,414$758,851$708,724$879,882
75$995,448$746,331$682,763$888,521
76$1,045,715$731,632$654,366$897,049
77$1,099,493$714,597$623,403$905,488
78$1,157,092$695,062$589,737$913,866
79$1,218,846$672,852$553,224$922,218
80$1,285,128$647,781$513,716$930,588
81$1,356,341$619,653$471,057$939,027
82$1,432,933$588,260$425,082$947,599
83$1,515,392$553,385$375,622$956,378
84$1,604,255$514,794$322,498$965,450
85$1,700,112$472,242$265,525$974,919
86$1,803,612$425,470$204,508$984,902
87$1,915,466$374,204$139,245$995,537
88$2,036,458$318,154$69,525$1,006,982
89$2,167,448$257,015$0$1,019,419
90$2,309,382$190,463$0$1,034,202
91$2,463,301$118,157$0$1,067,914
92$2,630,347$39,737$0$1,104,546
93$2,811,779$0$0$1,144,463
94$3,008,982$0$0$1,207,962
95$3,223,476$0$0$1,296,144
96$3,456,938$0$0$1,392,216
97$3,711,210$0$0$1,496,949
98$3,988,320$0$0$1,611,192
99$4,290,500$0$0$1,735,875
100$4,620,206$0$0$1,872,028