Can I retire at age 71 with 626,000?

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 $626,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$51,694$51,234$50,785$50,346$49,918$49,274
2 years$25,591$25,115$24,653$24,205$23,771$23,122
3 years$16,891$16,413$15,952$15,508$15,081$14,449
4 years$12,542$12,065$11,609$11,173$10,756$10,145
5 years$9,934$9,459$9,009$8,582$8,176$7,589
6 years$8,195$7,724$7,281$6,863$6,470$5,905
7 years$6,954$6,487$6,050$5,642$5,262$4,721
8 years$6,023$5,560$5,131$4,733$4,365$3,848
9 years$5,299$4,841$4,419$4,032$3,676$3,183
10 years$4,721$4,267$3,853$3,475$3,132$2,662
11 years$4,248$3,799$3,392$3,025$2,694$2,246
12 years$3,854$3,410$3,010$2,653$2,334$1,909
13 years$3,521$3,081$2,690$2,342$2,036$1,632
14 years$3,236$2,801$2,417$2,079$1,784$1,402
15 years$2,989$2,559$2,182$1,854$1,571$1,209
16 years$2,773$2,348$1,978$1,660$1,389$1,047
17 years$2,583$2,162$1,800$1,492$1,231$908
18 years$2,414$1,998$1,643$1,344$1,095$790
19 years$2,263$1,852$1,504$1,215$976$689
20 years$2,128$1,721$1,381$1,100$872$602
21 years$2,005$1,603$1,270$998$780$526
22 years$1,894$1,496$1,170$908$699$461
23 years$1,792$1,399$1,081$827$628$404
24 years$1,699$1,311$999$754$564$355
25 years$1,614$1,230$926$689$508$312
26 years$1,535$1,156$858$630$457$274
27 years$1,463$1,088$797$576$412$241
28 years$1,395$1,025$741$528$372$212
29 years$1,333$967$690$484$336$187
30 years$1,274$914$642$444$303$165
31 years$1,220$864$599$408$274$145
32 years$1,169$817$559$375$248$128
33 years$1,121$774$522$345$225$113
34 years$1,076$733$487$317$203$100
35 years$1,034$696$456$292$184$88
36 years$994$660$426$269$167$78
37 years$957$627$399$248$151$69
38 years$921$596$374$229$137$61
39 years$888$567$350$211$124$54
40 years$856$539$328$194$113$47
41 years$826$513$308$179$102$42
42 years$797$489$289$165$93$37
43 years$770$466$271$153$84$33
44 years$744$444$254$141$76$29
45 years$719$423$239$130$69$25
46 years$695$404$224$120$63$22
47 years$673$385$211$111$57$20
48 years$651$368$198$103$52$18
49 years$631$351$186$95$47$16
50 years$611$336$175$88$43$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $626,000, adding $5,934 every year, while hoping to spend $34,324 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: 62/26/12 Blend
70$626,000$626,000$626,000$626,000
71$695,973$662,795$653,092$736,794
72$730,442$658,751$638,450$760,837
73$767,276$653,359$622,167$782,606
74$806,681$646,516$604,152$805,523
75$848,880$638,114$584,310$829,701
76$894,122$628,038$562,540$855,265
77$942,676$616,165$538,739$882,353
78$994,839$602,368$512,797$911,120
79$1,050,938$586,508$484,600$941,737
80$1,111,328$568,442$454,029$974,394
81$1,176,405$548,017$420,960$1,009,303
82$1,246,598$525,070$385,263$1,046,697
83$1,322,383$499,429$346,800$1,086,839
84$1,404,279$470,915$305,431$1,130,015
85$1,492,859$439,334$261,007$1,176,548
86$1,588,754$404,484$213,374$1,226,792
87$1,692,653$366,150$162,368$1,281,141
88$1,805,319$324,106$107,823$1,340,034
89$1,927,586$278,113$49,560$1,403,953
90$2,060,376$227,916$0$1,473,436
91$2,204,700$173,250$0$1,550,694
92$2,361,672$113,831$0$1,641,646
93$2,532,515$49,362$0$1,740,695
94$2,718,578$0$0$1,848,677
95$2,921,344$0$0$1,972,371
96$3,142,444$0$0$2,122,691
97$3,383,674$0$0$2,286,743
98$3,647,012$0$0$2,465,874
99$3,934,634$0$0$2,661,573
100$4,248,935$0$0$2,875,474