Can I retire at age 78 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$58,631$58,109$57,599$57,102$56,616$55,315
2 years$29,025$28,485$27,961$27,453$26,960$25,656
3 years$19,158$18,615$18,093$17,589$17,105$15,839
4 years$14,225$13,684$13,167$12,672$12,199$10,981
5 years$11,266$10,728$10,218$9,733$9,274$8,107
6 years$9,295$8,761$8,258$7,784$7,338$6,224
7 years$7,887$7,357$6,862$6,400$5,968$4,907
8 years$6,831$6,306$5,820$5,368$4,951$3,942
9 years$6,011$5,491$5,012$4,573$4,169$3,212
10 years$5,355$4,840$4,370$3,942$3,552$2,646
11 years$4,818$4,309$3,847$3,430$3,055$2,198
12 years$4,372$3,867$3,414$3,009$2,648$1,838
13 years$3,994$3,495$3,050$2,656$2,309$1,545
14 years$3,670$3,177$2,741$2,358$2,024$1,305
15 years$3,390$2,902$2,475$2,103$1,782$1,107
16 years$3,146$2,663$2,244$1,883$1,575$941
17 years$2,930$2,452$2,042$1,692$1,396$802
18 years$2,738$2,266$1,864$1,525$1,242$685
19 years$2,567$2,100$1,706$1,378$1,107$587
20 years$2,413$1,951$1,566$1,248$989$503
21 years$2,274$1,818$1,440$1,132$885$432
22 years$2,148$1,697$1,327$1,030$793$371
23 years$2,033$1,587$1,226$938$712$319
24 years$1,927$1,487$1,133$855$640$275
25 years$1,830$1,395$1,050$781$576$236
26 years$1,741$1,311$974$714$519$204
27 years$1,659$1,234$904$654$468$176
28 years$1,582$1,163$841$599$422$152
29 years$1,511$1,097$782$549$381$131
30 years$1,445$1,036$729$504$344$113
31 years$1,383$979$679$463$311$98
32 years$1,326$927$634$425$281$84
33 years$1,272$878$592$391$255$73
34 years$1,221$832$553$360$231$63
35 years$1,173$789$517$331$209$54
36 years$1,128$749$484$305$189$47
37 years$1,085$711$453$281$172$41
38 years$1,045$676$424$259$156$35
39 years$1,007$643$397$239$141$30
40 years$971$612$372$220$128$26
41 years$936$582$349$203$116$23
42 years$904$554$327$188$105$20
43 years$873$528$307$173$96$17
44 years$844$503$288$160$87$15
45 years$816$480$271$148$79$13
46 years$789$458$254$136$72$11
47 years$763$437$239$126$65$9
48 years$739$417$225$117$59$8
49 years$716$398$211$108$54$7
50 years$693$381$198$100$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 78 starting with $710,000, adding $2,260 every year, while hoping to spend $20,981 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: 49/22/29 Blend
77$710,000$710,000$710,000$710,000
78$784,751$747,121$736,116$816,631
79$842,472$761,407$738,452$853,534
80$905,378$775,689$740,164$891,360
81$973,974$789,945$741,207$932,055
82$1,048,819$804,152$741,537$975,900
83$1,130,526$818,283$741,107$1,023,207
84$1,219,772$832,311$739,865$1,074,319
85$1,317,299$846,205$737,762$1,129,616
86$1,423,927$859,933$734,740$1,189,515
87$1,540,558$873,459$730,744$1,254,479
88$1,668,184$886,748$725,713$1,325,016
89$1,807,897$899,758$719,583$1,401,690
90$1,960,903$912,446$712,290$1,485,120
91$2,128,526$924,767$703,762$1,575,990
92$2,312,227$936,671$693,929$1,675,057
93$2,513,613$948,107$682,714$1,783,153
94$2,734,454$959,017$670,038$1,901,198
95$2,976,702$969,342$655,818$2,030,207
96$3,242,504$979,018$639,966$2,171,298
97$3,534,226$987,977$622,392$2,325,706
98$3,854,475$996,146$603,000$2,494,794
99$4,206,122$1,003,447$581,691$2,680,064
100$4,592,329$1,009,799$558,360$2,883,174