Can I retire at age 71 with 498,000?

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 $498,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$41,124$40,758$40,401$40,052$39,711$39,544
2 years$20,359$19,979$19,612$19,256$18,910$18,741
3 years$13,438$13,057$12,690$12,337$11,997$11,832
4 years$9,978$9,598$9,235$8,888$8,557$8,396
5 years$7,902$7,525$7,167$6,827$6,505$6,350
6 years$6,519$6,145$5,792$5,460$5,147$4,997
7 years$5,532$5,160$4,813$4,489$4,186$4,042
8 years$4,791$4,423$4,082$3,765$3,473$3,334
9 years$4,216$3,851$3,516$3,207$2,924$2,792
10 years$3,756$3,395$3,065$2,765$2,492$2,365
11 years$3,380$3,022$2,698$2,406$2,143$2,022
12 years$3,066$2,713$2,395$2,111$1,857$1,741
13 years$2,801$2,451$2,140$1,863$1,619$1,509
14 years$2,574$2,228$1,922$1,654$1,420$1,314
15 years$2,378$2,036$1,736$1,475$1,250$1,149
16 years$2,206$1,868$1,574$1,321$1,105$1,009
17 years$2,055$1,720$1,432$1,187$979$889
18 years$1,921$1,589$1,307$1,069$871$785
19 years$1,800$1,473$1,197$966$776$694
20 years$1,693$1,369$1,098$875$693$616
21 years$1,595$1,275$1,010$794$620$547
22 years$1,506$1,190$931$722$556$487
23 years$1,426$1,113$860$658$499$434
24 years$1,352$1,043$795$600$449$387
25 years$1,284$979$736$548$404$346
26 years$1,221$920$683$501$364$309
27 years$1,164$866$634$459$328$276
28 years$1,110$816$590$420$296$247
29 years$1,060$770$549$385$267$222
30 years$1,014$727$511$354$241$199
31 years$970$687$476$325$218$178
32 years$930$650$445$298$197$160
33 years$892$616$415$274$179$144
34 years$856$583$388$252$162$129
35 years$823$553$363$232$147$116
36 years$791$525$339$214$133$104
37 years$761$499$317$197$120$93
38 years$733$474$297$182$109$84
39 years$706$451$279$168$99$76
40 years$681$429$261$155$90$68
41 years$657$408$245$143$81$61
42 years$634$389$230$132$74$55
43 years$612$370$215$122$67$49
44 years$592$353$202$112$61$45
45 years$572$337$190$104$55$40
46 years$553$321$178$96$50$36
47 years$535$307$168$88$46$32
48 years$518$293$157$82$41$29
49 years$502$279$148$76$38$26
50 years$486$267$139$70$34$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $498,000, adding $3,815 every year, while hoping to spend $43,145 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: 57/27/16 Blend
70$498,000$498,000$498,000$498,000
71$552,731$526,337$518,618$581,724
72$563,204$506,222$490,086$581,711
73$573,299$483,675$459,152$576,662
74$582,931$458,531$425,690$570,172
75$592,008$430,617$389,568$562,113
76$600,424$399,748$350,650$552,342
77$608,061$365,729$308,790$540,708
78$614,789$328,355$263,840$527,045
79$620,460$287,408$215,642$511,174
80$624,914$242,658$164,033$492,900
81$627,969$193,862$108,841$472,014
82$629,424$140,763$49,889$448,287
83$629,055$83,090$0$421,471
84$626,614$20,558$0$393,521
85$621,827$0$0$371,155
86$614,387$0$0$359,569
87$603,957$0$0$352,187
88$590,159$0$0$342,664
89$572,580$0$0$330,738
90$550,757$0$0$316,119
91$524,181$0$0$298,486
92$492,287$0$0$277,483
93$454,452$0$0$252,718
94$409,984$0$0$223,754
95$358,119$0$0$190,112
96$298,013$0$0$151,260
97$228,732$0$0$106,610
98$149,245$0$0$55,513
99$58,411$0$0$0
100$0$0$0$0