Can I retire at age 71 with 793,000?

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 $793,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$65,485$64,902$64,333$63,777$63,235$62,316
2 years$32,418$31,815$31,230$30,662$30,112$29,188
3 years$21,398$20,791$20,208$19,646$19,104$18,204
4 years$15,888$15,284$14,706$14,154$13,625$12,756
5 years$12,584$11,983$11,412$10,871$10,358$9,521
6 years$10,381$9,785$9,223$8,694$8,196$7,393
7 years$8,809$8,217$7,664$7,148$6,665$5,898
8 years$7,630$7,044$6,500$5,996$5,530$4,796
9 years$6,713$6,133$5,598$5,107$4,657$3,957
10 years$5,981$5,406$4,881$4,403$3,968$3,302
11 years$5,381$4,812$4,297$3,832$3,412$2,779
12 years$4,883$4,319$3,813$3,361$2,957$2,356
13 years$4,461$3,903$3,407$2,967$2,579$2,009
14 years$4,100$3,548$3,061$2,634$2,260$1,721
15 years$3,787$3,241$2,764$2,349$1,990$1,480
16 years$3,513$2,974$2,506$2,103$1,759$1,278
17 years$3,272$2,739$2,280$1,890$1,560$1,106
18 years$3,058$2,531$2,082$1,703$1,387$959
19 years$2,867$2,345$1,906$1,539$1,236$834
20 years$2,695$2,180$1,749$1,394$1,104$726
21 years$2,540$2,030$1,609$1,265$988$633
22 years$2,399$1,895$1,483$1,150$886$553
23 years$2,270$1,772$1,369$1,047$795$483
24 years$2,153$1,661$1,266$955$715$423
25 years$2,044$1,558$1,173$872$643$370
26 years$1,945$1,465$1,088$798$579$325
27 years$1,853$1,378$1,010$730$522$285
28 years$1,767$1,299$939$669$471$250
29 years$1,688$1,225$874$613$425$219
30 years$1,614$1,157$814$563$384$193
31 years$1,545$1,094$759$517$348$169
32 years$1,481$1,035$708$475$314$149
33 years$1,420$980$661$437$285$131
34 years$1,363$929$617$402$258$115
35 years$1,310$881$577$370$233$101
36 years$1,259$836$540$341$211$89
37 years$1,212$794$505$314$192$78
38 years$1,167$755$473$289$174$69
39 years$1,124$718$443$267$158$61
40 years$1,084$683$416$246$143$53
41 years$1,046$650$390$227$130$47
42 years$1,010$619$366$210$118$41
43 years$975$590$343$194$107$36
44 years$942$562$322$179$97$32
45 years$911$536$302$165$88$28
46 years$881$512$284$152$80$25
47 years$852$488$267$141$73$22
48 years$825$466$251$130$66$19
49 years$799$445$236$120$60$17
50 years$774$425$222$111$54$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $793,000, adding $6,684 every year, while hoping to spend $51,738 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: 76/5/19 Blend
70$793,000$793,000$793,000$793,000
71$880,781$838,752$826,460$943,356
72$915,571$824,802$799,098$971,738
73$952,177$808,434$769,085$995,793
74$990,727$789,476$736,277$1,020,798
75$1,031,365$767,743$700,526$1,046,832
76$1,074,244$743,043$661,674$1,073,984
77$1,119,535$715,170$619,557$1,102,353
78$1,167,420$683,905$574,005$1,132,047
79$1,218,100$649,020$524,838$1,163,189
80$1,271,795$610,272$471,869$1,195,912
81$1,328,745$567,402$414,904$1,230,366
82$1,389,212$520,139$353,737$1,266,716
83$1,453,481$468,196$288,157$1,305,146
84$1,521,867$411,268$217,942$1,345,857
85$1,594,713$349,035$142,858$1,389,076
86$1,672,394$281,158$62,663$1,435,051
87$1,755,321$207,278$0$1,484,060
88$1,843,945$127,016$0$1,541,054
89$1,938,761$39,973$0$1,615,586
90$2,040,311$0$0$1,695,369
91$2,149,188$0$0$1,783,864
92$2,266,044$0$0$1,881,226
93$2,391,596$0$0$1,985,854
94$2,526,628$0$0$2,098,405
95$2,672,002$0$0$2,219,602
96$2,828,666$0$0$2,350,236
97$2,997,660$0$0$2,491,178
98$3,180,125$0$0$2,643,385
99$3,377,318$0$0$2,807,907
100$3,590,619$0$0$2,985,900