Can I retire at age 71 with 797,000?

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 $797,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$65,816$65,229$64,657$64,099$63,554$63,048
2 years$32,582$31,975$31,387$30,817$30,264$29,754
3 years$21,506$20,896$20,309$19,745$19,201$18,702
4 years$15,968$15,361$14,780$14,225$13,694$13,211
5 years$12,647$12,043$11,470$10,926$10,410$9,944
6 years$10,433$9,834$9,269$8,738$8,237$7,789
7 years$8,853$8,259$7,703$7,184$6,699$6,268
8 years$7,668$7,079$6,533$6,026$5,557$5,145
9 years$6,747$6,164$5,627$5,133$4,680$4,285
10 years$6,011$5,433$4,905$4,425$3,988$3,610
11 years$5,409$4,837$4,319$3,851$3,430$3,069
12 years$4,907$4,341$3,833$3,378$2,972$2,628
13 years$4,483$3,923$3,424$2,982$2,592$2,265
14 years$4,120$3,566$3,077$2,647$2,272$1,961
15 years$3,806$3,258$2,778$2,361$2,000$1,705
16 years$3,531$2,989$2,519$2,114$1,768$1,488
17 years$3,289$2,753$2,292$1,899$1,568$1,302
18 years$3,074$2,544$2,092$1,712$1,394$1,142
19 years$2,882$2,357$1,915$1,547$1,242$1,005
20 years$2,709$2,191$1,758$1,401$1,110$885
21 years$2,553$2,040$1,617$1,271$993$781
22 years$2,411$1,905$1,490$1,156$890$691
23 years$2,282$1,781$1,376$1,053$799$611
24 years$2,163$1,669$1,272$960$718$541
25 years$2,055$1,566$1,178$877$646$480
26 years$1,955$1,472$1,093$802$582$426
27 years$1,862$1,385$1,015$734$525$379
28 years$1,776$1,305$944$672$474$337
29 years$1,697$1,232$878$617$428$299
30 years$1,622$1,163$818$566$386$266
31 years$1,553$1,099$762$520$349$237
32 years$1,488$1,040$711$478$316$211
33 years$1,427$985$664$439$286$188
34 years$1,370$934$621$404$259$168
35 years$1,316$886$580$372$234$150
36 years$1,266$841$543$343$212$133
37 years$1,218$798$508$316$193$119
38 years$1,173$759$476$291$175$106
39 years$1,130$721$446$268$158$95
40 years$1,090$686$418$247$144$85
41 years$1,051$653$392$228$130$75
42 years$1,015$622$367$211$118$67
43 years$980$593$345$194$107$60
44 years$947$565$324$180$97$54
45 years$915$539$304$166$88$48
46 years$885$514$285$153$80$43
47 years$857$491$268$142$73$38
48 years$829$468$252$131$66$34
49 years$803$447$237$121$60$31
50 years$778$427$223$112$55$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $797,000, adding $6,183 every year, while hoping to spend $29,693 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: 58/34/8 Blend
70$797,000$797,000$797,000$797,000
71$884,672$842,431$830,077$934,038
72$943,315$852,117$826,292$977,643
73$1,006,945$861,282$821,384$1,021,254
74$1,076,039$869,870$815,286$1,068,055
75$1,151,121$877,820$807,924$1,118,355
76$1,232,769$885,067$799,224$1,172,492
77$1,321,619$891,543$789,105$1,230,843
78$1,418,370$897,174$777,485$1,293,821
79$1,523,790$901,882$764,278$1,361,883
80$1,638,727$905,585$749,391$1,435,532
81$1,764,111$908,193$732,731$1,515,326
82$1,900,970$909,613$714,196$1,601,878
83$2,050,431$909,747$693,684$1,695,866
84$2,213,737$908,486$671,084$1,798,036
85$2,392,256$905,721$646,284$1,909,215
86$2,587,496$901,330$619,164$2,030,313
87$2,801,113$895,188$589,598$2,162,334
88$3,034,934$887,160$557,458$2,306,387
89$3,290,971$877,104$522,606$2,463,696
90$3,571,438$864,870$484,901$2,635,610
91$3,878,772$850,296$444,193$2,823,619
92$4,215,661$833,215$400,328$3,029,367
93$4,585,062$813,446$353,142$3,254,667
94$4,990,234$790,800$302,467$3,501,519
95$5,434,763$765,075$248,126$3,772,131
96$5,922,604$736,059$189,933$4,068,939
97$6,458,110$703,526$127,696$4,394,628
98$7,046,076$667,238$61,213$4,752,163
99$7,691,787$626,943$0$5,144,813
100$8,401,060$582,374$0$5,577,016