Can I retire at age 71 with 795,000?

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 $795,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$65,650$65,066$64,495$63,938$63,394$61,365
2 years$32,500$31,895$31,308$30,740$30,188$28,162
3 years$21,452$20,844$20,259$19,695$19,152$17,194
4 years$15,928$15,322$14,743$14,189$13,660$11,783
5 years$12,615$12,013$11,441$10,899$10,384$8,594
6 years$10,407$9,809$9,246$8,716$8,216$6,516
7 years$8,831$8,238$7,684$7,166$6,682$5,070
8 years$7,649$7,061$6,516$6,011$5,543$4,018
9 years$6,730$6,148$5,613$5,120$4,668$3,229
10 years$5,996$5,419$4,893$4,414$3,978$2,622
11 years$5,395$4,825$4,308$3,841$3,421$2,146
12 years$4,895$4,330$3,823$3,369$2,965$1,768
13 years$4,472$3,913$3,416$2,975$2,585$1,464
14 years$4,110$3,557$3,069$2,640$2,266$1,217
15 years$3,796$3,249$2,771$2,355$1,995$1,015
16 years$3,522$2,981$2,512$2,108$1,763$849
17 years$3,281$2,746$2,286$1,894$1,564$712
18 years$3,066$2,537$2,087$1,707$1,390$598
19 years$2,874$2,351$1,910$1,543$1,239$503
20 years$2,702$2,185$1,753$1,397$1,107$424
21 years$2,546$2,035$1,613$1,268$990$357
22 years$2,405$1,900$1,486$1,153$888$301
23 years$2,276$1,777$1,372$1,050$797$255
24 years$2,158$1,665$1,269$958$716$215
25 years$2,050$1,562$1,176$875$645$182
26 years$1,950$1,468$1,090$800$581$154
27 years$1,857$1,382$1,012$732$523$130
28 years$1,772$1,302$941$671$472$110
29 years$1,692$1,228$876$615$427$93
30 years$1,618$1,160$816$564$385$79
31 years$1,549$1,097$761$518$348$67
32 years$1,484$1,038$710$476$315$57
33 years$1,424$983$663$438$285$48
34 years$1,367$931$619$403$258$41
35 years$1,313$883$579$371$234$35
36 years$1,263$838$541$342$212$29
37 years$1,215$796$507$315$192$25
38 years$1,170$757$475$290$174$21
39 years$1,127$720$445$268$158$18
40 years$1,087$685$417$247$143$15
41 years$1,049$652$391$228$130$13
42 years$1,012$621$367$210$118$11
43 years$978$591$344$194$107$9
44 years$945$564$323$179$97$8
45 years$913$538$303$165$88$7
46 years$883$513$285$153$80$6
47 years$855$489$268$141$73$5
48 years$827$467$251$130$66$4
49 years$801$446$236$121$60$3
50 years$776$426$222$111$54$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $795,000, adding $3,480 every year, while hoping to spend $36,585 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: 68/21/11 Blend
70$795,000$795,000$795,000$795,000
71$879,680$837,545$825,222$937,216
72$930,481$839,658$813,941$978,010
73$985,237$840,649$801,056$1,017,898
74$1,044,315$840,424$786,474$1,060,566
75$1,108,113$838,883$770,099$1,106,282
76$1,177,073$835,920$751,830$1,155,340
77$1,251,679$831,425$731,560$1,208,068
78$1,332,462$825,277$709,180$1,264,825
79$1,420,009$817,351$684,573$1,326,009
80$1,514,962$807,514$657,619$1,392,058
81$1,618,029$795,623$628,189$1,463,458
82$1,729,988$781,528$596,153$1,540,743
83$1,851,694$765,070$561,372$1,624,505
84$1,984,090$746,082$523,701$1,715,395
85$2,128,211$724,383$482,989$1,814,134
86$2,285,197$699,787$439,078$1,921,516
87$2,456,303$672,092$391,803$2,038,418
88$2,642,909$641,088$340,992$2,165,810
89$2,846,536$606,551$286,464$2,304,760
90$3,068,854$568,244$228,033$2,456,448
91$3,311,706$525,917$165,501$2,622,177
92$3,577,119$479,306$98,664$2,803,385
93$3,867,324$428,131$27,308$3,001,657
94$4,184,778$372,096$0$3,218,745
95$4,532,186$310,890$0$3,462,314
96$4,912,528$244,182$0$3,732,556
97$5,329,083$171,624$0$4,028,644
98$5,785,465$92,849$0$4,353,204
99$6,285,651$7,467$0$4,709,131
100$6,834,023$0$0$5,099,619