Can I retire at age 71 with 650,000?

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 $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$53,676$53,198$52,732$52,276$51,832$50,334
2 years$26,572$26,078$25,598$25,133$24,682$23,185
3 years$17,539$17,042$16,564$16,103$15,659$14,210
4 years$13,023$12,528$12,054$11,601$11,168$9,777
5 years$10,314$9,822$9,354$8,911$8,490$7,162
6 years$8,509$8,020$7,560$7,126$6,718$5,453
7 years$7,220$6,735$6,282$5,859$5,463$4,263
8 years$6,254$5,773$5,328$4,915$4,532$3,395
9 years$5,503$5,027$4,589$4,186$3,817$2,741
10 years$4,902$4,431$4,001$3,609$3,252$2,237
11 years$4,411$3,945$3,522$3,141$2,797$1,840
12 years$4,002$3,540$3,126$2,755$2,424$1,524
13 years$3,656$3,200$2,793$2,432$2,114$1,269
14 years$3,360$2,908$2,509$2,159$1,853$1,061
15 years$3,104$2,657$2,266$1,925$1,631$890
16 years$2,880$2,438$2,054$1,724$1,442$748
17 years$2,682$2,245$1,869$1,549$1,278$631
18 years$2,507$2,074$1,706$1,396$1,137$533
19 years$2,350$1,923$1,562$1,261$1,013$451
20 years$2,209$1,786$1,433$1,142$905$382
21 years$2,082$1,664$1,319$1,037$810$325
22 years$1,966$1,553$1,215$943$726$276
23 years$1,861$1,453$1,122$858$652$234
24 years$1,764$1,361$1,038$783$586$199
25 years$1,676$1,277$961$715$527$170
26 years$1,594$1,201$891$654$475$144
27 years$1,519$1,130$828$598$428$123
28 years$1,449$1,065$769$548$386$105
29 years$1,384$1,004$716$503$349$89
30 years$1,323$949$667$461$315$76
31 years$1,267$897$622$424$285$65
32 years$1,214$848$580$390$258$55
33 years$1,164$803$542$358$233$47
34 years$1,117$762$506$330$211$40
35 years$1,074$722$473$303$191$34
36 years$1,032$686$443$279$173$29
37 years$993$651$414$257$157$25
38 years$957$619$388$237$142$21
39 years$922$588$364$219$129$18
40 years$889$560$341$202$117$16
41 years$857$533$319$186$106$13
42 years$828$508$300$172$96$11
43 years$799$484$281$159$87$10
44 years$772$461$264$146$79$8
45 years$747$440$248$135$72$7
46 years$722$419$233$125$65$6
47 years$699$400$219$115$59$5
48 years$676$382$206$107$54$4
49 years$655$365$193$99$49$4
50 years$635$348$182$91$45$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $650,000, adding $4,313 every year, while hoping to spend $21,738 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: 65/19/16 Blend
70$650,000$650,000$650,000$650,000
71$720,749$686,299$676,224$764,519
72$771,136$696,798$675,748$804,858
73$825,934$707,084$674,528$846,017
74$885,571$717,122$672,516$890,464
75$950,514$726,877$669,661$938,518
76$1,021,283$736,310$665,910$990,534
77$1,098,445$745,380$661,210$1,046,902
78$1,182,627$754,044$655,501$1,108,054
79$1,274,518$762,255$648,723$1,174,462
80$1,374,876$769,963$640,813$1,246,650
81$1,484,538$777,116$631,704$1,325,196
82$1,604,421$783,655$621,327$1,410,734
83$1,735,540$789,521$609,609$1,503,966
84$1,879,007$794,651$596,473$1,605,665
85$2,036,052$798,974$581,841$1,716,683
86$2,208,024$802,419$565,627$1,837,961
87$2,396,413$804,908$547,746$1,970,534
88$2,602,857$806,359$528,106$2,115,546
89$2,829,163$806,684$506,611$2,274,255
90$3,077,316$805,791$483,162$2,448,052
91$3,349,509$803,580$457,654$2,638,468
92$3,648,151$799,948$429,978$2,847,192
93$3,975,901$794,784$400,020$3,076,085
94$4,335,683$787,969$367,661$3,327,201
95$4,730,722$779,378$332,777$3,602,804
96$5,164,568$768,880$295,237$3,905,388
97$5,641,132$756,334$254,906$4,237,706
98$6,164,724$741,591$211,642$4,602,790
99$6,740,091$724,493$165,297$5,003,986
100$7,372,462$704,875$115,716$5,444,981