Can I retire at age 71 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$51,364$50,907$50,460$50,025$49,599$48,939
2 years$25,428$24,954$24,495$24,050$23,619$22,954
3 years$16,783$16,308$15,850$15,409$14,985$14,337
4 years$12,462$11,988$11,535$11,101$10,687$10,061
5 years$9,870$9,399$8,951$8,527$8,124$7,522
6 years$8,143$7,675$7,234$6,819$6,428$5,851
7 years$6,909$6,445$6,012$5,606$5,228$4,675
8 years$5,984$5,525$5,098$4,703$4,337$3,808
9 years$5,266$4,810$4,391$4,006$3,653$3,148
10 years$4,691$4,240$3,828$3,453$3,112$2,631
11 years$4,221$3,775$3,370$3,005$2,677$2,219
12 years$3,830$3,388$2,991$2,636$2,319$1,885
13 years$3,499$3,062$2,672$2,327$2,023$1,610
14 years$3,215$2,783$2,401$2,066$1,773$1,382
15 years$2,970$2,542$2,168$1,842$1,561$1,191
16 years$2,756$2,333$1,966$1,650$1,380$1,030
17 years$2,567$2,148$1,789$1,482$1,223$894
18 years$2,399$1,985$1,633$1,336$1,088$777
19 years$2,249$1,840$1,495$1,207$970$677
20 years$2,114$1,710$1,372$1,093$866$591
21 years$1,992$1,592$1,262$992$775$516
22 years$1,882$1,486$1,163$902$695$452
23 years$1,781$1,390$1,074$822$624$396
24 years$1,688$1,303$993$749$560$347
25 years$1,604$1,222$920$684$504$305
26 years$1,525$1,149$853$626$454$268
27 years$1,453$1,081$792$573$410$235
28 years$1,386$1,019$736$525$370$207
29 years$1,324$961$685$481$334$182
30 years$1,266$908$638$442$302$161
31 years$1,212$858$595$406$273$141
32 years$1,161$812$555$373$247$125
33 years$1,114$769$518$343$223$110
34 years$1,069$729$484$315$202$97
35 years$1,027$691$453$290$183$85
36 years$988$656$424$267$166$75
37 years$951$623$396$246$150$66
38 years$915$592$371$227$136$59
39 years$882$563$348$209$124$52
40 years$850$536$326$193$112$46
41 years$820$510$306$178$102$40
42 years$792$486$287$164$92$36
43 years$765$463$269$152$84$31
44 years$739$441$253$140$76$28
45 years$714$421$237$129$69$24
46 years$691$401$223$120$63$22
47 years$669$383$209$110$57$19
48 years$647$366$197$102$52$17
49 years$627$349$185$94$47$15
50 years$607$333$174$87$43$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $622,000, adding $2,824 every year, while hoping to spend $35,471 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: 45/43/12 Blend
70$622,000$622,000$622,000$622,000
71$688,357$655,391$645,750$716,863
72$720,828$649,764$629,642$731,315
73$755,423$642,673$611,805$743,145
74$792,320$634,008$592,144$755,182
75$831,716$623,653$570,560$767,461
76$873,826$611,487$546,949$780,019
77$918,884$597,378$521,200$792,902
78$967,151$581,190$493,200$806,161
79$1,018,908$562,776$462,831$819,857
80$1,074,468$541,984$429,967$834,060
81$1,134,171$518,648$394,478$848,847
82$1,198,393$492,598$356,229$864,312
83$1,267,544$463,650$315,077$880,558
84$1,342,076$431,612$270,875$897,704
85$1,422,485$396,278$223,467$915,884
86$1,509,317$357,435$172,692$935,252
87$1,603,171$314,852$118,380$955,981
88$1,704,705$268,290$60,356$978,267
89$1,814,642$217,494$0$1,002,332
90$1,933,779$162,195$0$1,028,625
91$2,062,991$102,108$0$1,065,487
92$2,203,238$36,934$0$1,105,524
93$2,355,581$0$0$1,149,118
94$2,521,182$0$0$1,212,614
95$2,701,322$0$0$1,300,760
96$2,897,411$0$0$1,396,777
97$3,110,998$0$0$1,501,434
98$3,343,790$0$0$1,615,574
99$3,597,664$0$0$1,740,127
100$3,874,686$0$0$1,876,118