Can I retire at age 71 with 627,000?

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 $627,000?

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$51,777$51,316$50,866$50,427$49,998$49,251
2 years$25,632$25,155$24,692$24,244$23,809$23,057
3 years$16,918$16,439$15,977$15,533$15,105$14,373
4 years$12,562$12,084$11,628$11,191$10,773$10,067
5 years$9,949$9,474$9,023$8,596$8,190$7,510
6 years$8,208$7,736$7,292$6,874$6,480$5,829
7 years$6,965$6,497$6,060$5,651$5,270$4,647
8 years$6,033$5,569$5,139$4,741$4,372$3,777
9 years$5,308$4,849$4,426$4,038$3,682$3,114
10 years$4,729$4,274$3,859$3,481$3,137$2,597
11 years$4,255$3,805$3,397$3,029$2,698$2,185
12 years$3,860$3,415$3,015$2,657$2,338$1,851
13 years$3,527$3,086$2,694$2,346$2,039$1,577
14 years$3,241$2,805$2,420$2,082$1,787$1,350
15 years$2,994$2,563$2,185$1,857$1,574$1,161
16 years$2,778$2,351$1,981$1,663$1,391$1,001
17 years$2,587$2,165$1,803$1,494$1,233$866
18 years$2,418$2,001$1,646$1,346$1,096$750
19 years$2,267$1,854$1,507$1,217$977$652
20 years$2,131$1,723$1,383$1,102$873$567
21 years$2,008$1,605$1,272$1,000$781$494
22 years$1,897$1,498$1,172$909$700$431
23 years$1,795$1,401$1,082$828$629$377
24 years$1,702$1,313$1,001$755$565$329
25 years$1,617$1,232$927$690$508$288
26 years$1,538$1,158$860$631$458$252
27 years$1,465$1,090$798$577$413$221
28 years$1,397$1,027$742$529$373$194
29 years$1,335$969$691$485$336$170
30 years$1,276$915$643$445$304$149
31 years$1,222$865$600$409$275$131
32 years$1,171$818$560$376$249$115
33 years$1,123$775$523$346$225$101
34 years$1,078$735$488$318$204$89
35 years$1,036$697$456$293$184$78
36 years$996$661$427$270$167$69
37 years$958$628$400$248$151$60
38 years$923$597$374$229$137$53
39 years$889$568$351$211$125$47
40 years$857$540$329$195$113$41
41 years$827$514$308$180$102$36
42 years$798$490$289$166$93$32
43 years$771$466$271$153$84$28
44 years$745$445$255$141$77$25
45 years$720$424$239$130$70$22
46 years$697$404$225$121$63$19
47 years$674$386$211$111$57$17
48 years$652$368$198$103$52$15
49 years$632$352$186$95$47$13
50 years$612$336$175$88$43$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $627,000, adding $4,297 every year, while hoping to spend $47,583 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: 87/6/7 Blend
70$627,000$627,000$627,000$627,000
71$695,386$662,155$652,437$755,155
72$715,688$643,973$623,666$776,570
73$736,465$623,305$592,336$793,072
74$757,717$599,979$558,311$809,672
75$779,440$573,814$521,450$826,344
76$801,628$544,616$481,604$843,061
77$824,273$512,181$438,617$859,791
78$847,367$476,296$392,328$876,499
79$870,894$436,731$342,568$893,147
80$894,841$393,246$289,159$909,690
81$919,186$345,586$231,917$926,082
82$943,905$293,482$170,649$942,268
83$968,972$236,651$105,154$958,190
84$994,352$174,792$35,221$973,781
85$1,020,007$107,588$0$988,970
86$1,045,893$34,705$0$1,006,618
87$1,071,956$0$0$1,026,692
88$1,098,139$0$0$1,049,399
89$1,124,373$0$0$1,074,442
90$1,150,581$0$0$1,099,457
91$1,176,674$0$0$1,124,359
92$1,202,555$0$0$1,149,053
93$1,228,110$0$0$1,173,432
94$1,253,213$0$0$1,197,373
95$1,277,721$0$0$1,220,739
96$1,301,474$0$0$1,243,378
97$1,324,294$0$0$1,265,117
98$1,345,977$0$0$1,285,764
99$1,366,301$0$0$1,305,102
100$1,385,014$0$0$1,322,890