Can I retire at age 71 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$47,896$47,469$47,053$46,647$46,250$45,559
2 years$23,711$23,269$22,841$22,426$22,024$21,329
3 years$15,650$15,207$14,780$14,369$13,973$13,296
4 years$11,621$11,179$10,756$10,352$9,966$9,312
5 years$9,204$8,764$8,347$7,951$7,576$6,947
6 years$7,593$7,157$6,746$6,359$5,994$5,392
7 years$6,443$6,010$5,606$5,228$4,875$4,298
8 years$5,580$5,152$4,754$4,385$4,044$3,494
9 years$4,910$4,486$4,095$3,735$3,406$2,881
10 years$4,374$3,954$3,570$3,220$2,902$2,402
11 years$3,936$3,520$3,143$2,802$2,496$2,021
12 years$3,571$3,159$2,789$2,458$2,163$1,712
13 years$3,263$2,855$2,492$2,170$1,886$1,459
14 years$2,998$2,595$2,239$1,926$1,653$1,249
15 years$2,770$2,371$2,022$1,718$1,456$1,074
16 years$2,570$2,175$1,833$1,538$1,287$926
17 years$2,393$2,003$1,668$1,382$1,141$801
18 years$2,237$1,851$1,522$1,246$1,014$694
19 years$2,097$1,715$1,394$1,125$904$603
20 years$1,971$1,594$1,279$1,019$808$525
21 years$1,858$1,485$1,177$925$723$457
22 years$1,754$1,386$1,084$841$648$399
23 years$1,660$1,296$1,001$766$581$348
24 years$1,574$1,215$926$699$523$305
25 years$1,495$1,140$858$638$470$267
26 years$1,422$1,071$795$583$424$234
27 years$1,355$1,008$739$534$382$205
28 years$1,293$950$687$489$345$179
29 years$1,235$896$639$449$311$157
30 years$1,181$846$595$412$281$138
31 years$1,130$800$555$378$254$121
32 years$1,083$757$518$348$230$107
33 years$1,039$717$483$320$208$94
34 years$997$680$452$294$188$82
35 years$958$645$422$271$171$72
36 years$921$612$395$249$155$64
37 years$886$581$370$230$140$56
38 years$854$552$346$212$127$49
39 years$822$525$324$195$115$43
40 years$793$500$304$180$104$38
41 years$765$476$285$166$95$33
42 years$738$453$267$153$86$29
43 years$713$431$251$142$78$26
44 years$689$411$236$131$71$23
45 years$666$392$221$121$64$20
46 years$644$374$208$111$58$18
47 years$624$357$195$103$53$16
48 years$604$341$183$95$48$14
49 years$585$326$172$88$44$12
50 years$566$311$162$81$40$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $580,000, adding $4,855 every year, while hoping to spend $29,976 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: 74/9/17 Blend
70$580,000$580,000$580,000$580,000
71$644,168$613,428$604,438$688,988
72$677,979$611,592$592,792$717,499
73$714,234$608,661$579,752$744,582
74$753,150$604,550$565,238$773,469
75$794,968$599,169$549,170$804,330
76$839,947$592,421$531,460$837,356
77$888,378$584,206$512,020$872,756
78$940,575$574,414$490,755$910,762
79$996,886$562,933$467,568$951,628
80$1,057,693$549,641$442,356$995,637
81$1,123,414$534,410$415,011$1,043,099
82$1,194,511$517,105$385,423$1,094,359
83$1,271,490$497,581$353,473$1,149,794
84$1,354,907$475,688$319,040$1,209,823
85$1,445,375$451,265$281,995$1,274,909
86$1,543,568$424,141$242,206$1,345,560
87$1,650,225$394,137$199,533$1,422,339
88$1,766,161$361,063$153,831$1,505,868
89$1,892,273$324,718$104,948$1,596,831
90$2,029,546$284,891$52,725$1,695,984
91$2,179,065$241,356$0$1,804,163
92$2,342,023$193,876$0$1,922,833
93$2,519,736$142,202$0$2,062,707
94$2,713,648$86,070$0$2,215,366
95$2,925,352$25,198$0$2,382,080
96$3,156,599$0$0$2,564,250
97$3,409,318$0$0$2,767,452
98$3,685,633$0$0$2,992,379
99$3,987,883$0$0$3,238,442
100$4,318,640$0$0$3,507,740