Can I retire at age 71 with 747,000?

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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$61,687$61,137$60,601$60,078$59,567$59,191
2 years$30,538$29,969$29,418$28,884$28,365$27,986
3 years$20,156$19,585$19,035$18,506$17,996$17,626
4 years$14,967$14,397$13,853$13,333$12,835$12,476
5 years$11,854$11,288$10,750$10,241$9,757$9,410
6 years$9,779$9,217$8,688$8,190$7,720$7,387
7 years$8,298$7,741$7,220$6,733$6,279$5,958
8 years$7,187$6,635$6,123$5,648$5,209$4,901
9 years$6,324$5,777$5,274$4,811$4,387$4,092
10 years$5,634$5,092$4,598$4,147$3,738$3,455
11 years$5,069$4,533$4,048$3,609$3,214$2,945
12 years$4,599$4,069$3,592$3,166$2,786$2,528
13 years$4,202$3,677$3,209$2,795$2,429$2,184
14 years$3,862$3,342$2,884$2,481$2,129$1,896
15 years$3,567$3,053$2,604$2,213$1,875$1,653
16 years$3,309$2,801$2,361$1,981$1,657$1,446
17 years$3,082$2,580$2,148$1,780$1,469$1,269
18 years$2,881$2,384$1,961$1,604$1,306$1,117
19 years$2,701$2,209$1,795$1,450$1,164$985
20 years$2,539$2,053$1,647$1,313$1,040$870
21 years$2,392$1,912$1,515$1,191$931$770
22 years$2,260$1,785$1,397$1,083$834$683
23 years$2,139$1,670$1,289$987$749$606
24 years$2,028$1,564$1,193$900$673$539
25 years$1,926$1,468$1,105$822$606$479
26 years$1,832$1,380$1,024$751$546$427
27 years$1,745$1,298$951$688$492$380
28 years$1,665$1,224$884$630$444$339
29 years$1,590$1,154$823$578$401$303
30 years$1,521$1,090$767$530$362$270
31 years$1,456$1,030$715$487$327$241
32 years$1,395$975$667$448$296$216
33 years$1,338$923$623$412$268$193
34 years$1,284$875$582$379$243$172
35 years$1,234$830$544$349$220$154
36 years$1,186$788$509$321$199$138
37 years$1,142$748$476$296$180$123
38 years$1,099$711$446$273$164$111
39 years$1,059$676$418$251$148$99
40 years$1,021$643$392$232$135$89
41 years$985$612$367$214$122$79
42 years$951$583$344$197$111$71
43 years$919$556$323$182$101$64
44 years$888$530$303$168$91$57
45 years$858$505$285$155$83$51
46 years$830$482$268$144$75$46
47 years$803$460$251$133$68$41
48 years$777$439$236$123$62$37
49 years$753$419$222$113$56$33
50 years$729$400$209$105$51$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $747,000, adding $5,440 every year, while hoping to spend $58,728 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: 55/30/15 Blend
70$747,000$747,000$747,000$747,000
71$828,805$789,214$777,636$870,832
72$850,857$765,400$741,201$876,219
73$873,190$738,450$701,576$875,280
74$895,771$708,149$658,594$872,921
75$918,561$674,269$612,078$869,020
76$941,515$636,569$561,844$863,444
77$964,581$594,794$507,698$856,053
78$987,703$548,673$449,440$846,695
79$1,010,811$497,921$386,859$835,208
80$1,033,832$442,236$319,736$821,417
81$1,056,678$381,301$247,842$805,133
82$1,079,252$314,777$170,938$786,155
83$1,101,444$242,310$88,773$764,267
84$1,123,132$163,524$1,087$739,234
85$1,144,175$78,021$0$710,806
86$1,164,420$0$0$693,515
87$1,183,691$0$0$678,242
88$1,201,794$0$0$687,980
89$1,218,510$0$0$696,838
90$1,233,596$0$0$704,668
91$1,246,781$0$0$711,304
92$1,257,763$0$0$716,563
93$1,266,204$0$0$720,238
94$1,271,732$0$0$722,101
95$1,273,930$0$0$721,899
96$1,272,334$0$0$719,350
97$1,266,433$0$0$714,141
98$1,255,655$0$0$705,925
99$1,239,370$0$0$694,318
100$1,216,876$0$0$678,893