Can I retire at age 71 with 500,000?

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 $500,000?

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$41,290$40,922$40,563$40,213$39,871$39,703
2 years$20,440$20,060$19,691$19,333$18,986$18,816
3 years$13,492$13,109$12,741$12,387$12,046$11,880
4 years$10,018$9,637$9,272$8,924$8,591$8,430
5 years$7,934$7,555$7,196$6,855$6,531$6,375
6 years$6,545$6,169$5,815$5,482$5,168$5,017
7 years$5,554$5,181$4,832$4,507$4,203$4,058
8 years$4,811$4,441$4,098$3,781$3,486$3,348
9 years$4,233$3,867$3,530$3,220$2,936$2,803
10 years$3,771$3,408$3,077$2,776$2,502$2,374
11 years$3,393$3,034$2,709$2,416$2,152$2,030
12 years$3,079$2,723$2,404$2,119$1,864$1,748
13 years$2,813$2,461$2,148$1,871$1,626$1,515
14 years$2,585$2,237$1,930$1,661$1,425$1,319
15 years$2,388$2,044$1,743$1,481$1,255$1,154
16 years$2,215$1,875$1,580$1,326$1,109$1,013
17 years$2,063$1,727$1,438$1,191$983$892
18 years$1,928$1,596$1,312$1,074$874$788
19 years$1,808$1,479$1,202$970$779$697
20 years$1,699$1,374$1,103$879$696$618
21 years$1,601$1,280$1,014$798$623$549
22 years$1,512$1,195$935$725$558$489
23 years$1,431$1,118$863$660$501$436
24 years$1,357$1,047$798$602$451$389
25 years$1,289$983$739$550$405$347
26 years$1,226$923$686$503$365$310
27 years$1,168$869$637$460$329$277
28 years$1,114$819$592$422$297$248
29 years$1,064$773$551$387$268$223
30 years$1,018$730$513$355$242$199
31 years$974$690$478$326$219$179
32 years$934$653$446$300$198$161
33 years$895$618$417$276$179$144
34 years$860$586$389$254$162$129
35 years$826$556$364$233$147$116
36 years$794$527$341$215$133$104
37 years$764$501$319$198$121$94
38 years$736$476$298$183$110$84
39 years$709$453$280$168$99$76
40 years$684$431$262$155$90$68
41 years$659$410$246$143$82$61
42 years$637$390$231$132$74$55
43 years$615$372$216$122$67$50
44 years$594$355$203$113$61$45
45 years$574$338$191$104$55$40
46 years$555$323$179$96$50$36
47 years$538$308$168$89$46$33
48 years$520$294$158$82$42$29
49 years$504$281$149$76$38$26
50 years$488$268$140$70$34$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $500,000, adding $2,077 every year, while hoping to spend $31,090 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: 78/7/15 Blend
70$500,000$500,000$500,000$500,000
71$553,142$526,642$518,892$594,383
72$576,483$519,368$503,196$614,579
73$601,163$510,696$485,931$632,571
74$627,286$500,524$467,014$651,440
75$654,964$488,744$446,354$671,260
76$684,321$475,244$423,858$692,117
77$715,494$459,903$399,429$714,102
78$748,629$442,593$372,965$737,317
79$783,889$423,180$344,359$761,875
80$821,451$401,521$313,500$787,902
81$861,509$377,465$280,272$815,534
82$904,275$350,853$244,553$844,923
83$949,982$321,516$206,217$876,239
84$998,886$289,276$165,131$909,667
85$1,051,266$253,944$121,157$945,413
86$1,107,429$215,322$74,150$983,703
87$1,167,713$173,199$23,960$1,024,788
88$1,232,486$127,352$0$1,068,945
89$1,302,155$77,547$0$1,121,219
90$1,377,165$23,537$0$1,181,610
91$1,458,004$0$0$1,246,680
92$1,545,211$0$0$1,319,563
93$1,639,375$0$0$1,400,231
94$1,741,145$0$0$1,487,428
95$1,851,235$0$0$1,581,767
96$1,970,427$0$0$1,683,921
97$2,099,583$0$0$1,794,630
98$2,239,651$0$0$1,914,709
99$2,391,671$0$0$2,045,052
100$2,556,791$0$0$2,186,644