Can I retire at age 71 with 796,000?

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 $796,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$65,733$65,147$64,576$64,019$63,474$62,269
2 years$32,541$31,935$31,348$30,778$30,226$29,016
3 years$21,479$20,870$20,284$19,720$19,176$18,000
4 years$15,948$15,342$14,762$14,207$13,677$12,543
5 years$12,631$12,028$11,456$10,912$10,397$9,309
6 years$10,420$9,822$9,258$8,727$8,227$7,186
7 years$8,842$8,248$7,693$7,175$6,691$5,697
8 years$7,659$7,070$6,525$6,019$5,550$4,603
9 years$6,739$6,156$5,620$5,127$4,674$3,773
10 years$6,003$5,426$4,899$4,419$3,983$3,127
11 years$5,402$4,831$4,313$3,846$3,425$2,614
12 years$4,901$4,336$3,828$3,373$2,968$2,201
13 years$4,478$3,918$3,420$2,978$2,588$1,863
14 years$4,115$3,562$3,073$2,644$2,269$1,584
15 years$3,801$3,254$2,774$2,358$1,998$1,352
16 years$3,527$2,985$2,515$2,111$1,766$1,158
17 years$3,285$2,749$2,289$1,897$1,566$994
18 years$3,070$2,540$2,089$1,709$1,392$856
19 years$2,878$2,354$1,913$1,545$1,241$738
20 years$2,705$2,188$1,755$1,399$1,108$637
21 years$2,549$2,038$1,615$1,270$992$551
22 years$2,408$1,902$1,488$1,154$889$477
23 years$2,279$1,779$1,374$1,051$798$414
24 years$2,161$1,667$1,271$959$717$359
25 years$2,052$1,564$1,177$876$645$312
26 years$1,952$1,470$1,092$801$581$271
27 years$1,860$1,384$1,014$733$524$235
28 years$1,774$1,304$942$671$473$205
29 years$1,694$1,230$877$616$427$178
30 years$1,620$1,162$817$565$386$155
31 years$1,551$1,098$761$519$349$135
32 years$1,486$1,039$710$477$316$118
33 years$1,426$984$663$439$286$102
34 years$1,368$933$620$404$259$89
35 years$1,315$885$579$372$234$78
36 years$1,264$840$542$342$212$68
37 years$1,217$797$507$315$192$59
38 years$1,171$758$475$291$174$52
39 years$1,129$721$445$268$158$45
40 years$1,088$686$417$247$143$39
41 years$1,050$653$391$228$130$34
42 years$1,013$622$367$210$118$30
43 years$979$592$344$194$107$26
44 years$946$564$323$179$97$23
45 years$914$538$304$166$88$20
46 years$884$513$285$153$80$17
47 years$856$490$268$141$73$15
48 years$828$468$252$131$66$13
49 years$802$447$237$121$60$11
50 years$777$427$222$112$55$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $796,000, adding $5,872 every year, while hoping to spend $33,928 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: 50/29/21 Blend
70$796,000$796,000$796,000$796,000
71$883,249$841,061$828,723$921,954
72$937,241$846,174$820,386$954,495
73$995,604$850,400$810,633$985,904
74$1,058,746$853,661$799,380$1,019,329
75$1,127,119$855,871$786,540$1,054,976
76$1,201,218$856,941$772,022$1,093,069
77$1,281,588$856,777$755,730$1,133,860
78$1,368,828$855,277$737,565$1,177,627
79$1,463,596$852,334$717,421$1,224,676
80$1,566,618$847,833$695,190$1,275,349
81$1,678,691$841,655$670,757$1,330,024
82$1,800,692$833,670$644,002$1,389,119
83$1,933,587$823,744$614,800$1,453,099
84$2,078,437$811,732$583,020$1,522,476
85$2,236,412$797,482$548,526$1,597,818
86$2,408,799$780,832$511,175$1,679,754
87$2,597,015$761,610$470,817$1,768,981
88$2,802,617$739,636$427,296$1,866,268
89$3,027,323$714,717$380,450$1,972,468
90$3,273,022$686,651$330,107$2,088,524
91$3,541,796$655,222$276,091$2,215,477
92$3,835,935$620,203$218,216$2,354,482
93$4,157,961$581,354$156,287$2,506,812
94$4,510,653$538,421$90,103$2,673,878
95$4,897,070$491,133$19,451$2,857,237
96$5,320,581$439,209$0$3,058,612
97$5,784,896$382,346$0$3,292,442
98$6,294,102$320,228$0$3,553,760
99$6,852,701$252,519$0$3,840,581
100$7,465,649$178,865$0$4,155,529