Can I retire at age 71 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$57,062$56,554$56,058$55,574$55,101$53,231
2 years$28,249$27,722$27,213$26,718$26,239$24,373
3 years$18,645$18,117$17,608$17,119$16,647$14,845
4 years$13,845$13,318$12,814$12,333$11,873$10,148
5 years$10,965$10,441$9,944$9,473$9,025$7,382
6 years$9,046$8,526$8,037$7,576$7,142$5,581
7 years$7,676$7,160$6,678$6,228$5,808$4,330
8 years$6,648$6,138$5,664$5,225$4,818$3,422
9 years$5,850$5,344$4,878$4,450$4,058$2,742
10 years$5,211$4,710$4,253$3,836$3,457$2,219
11 years$4,689$4,193$3,744$3,339$2,973$1,810
12 years$4,255$3,764$3,323$2,928$2,577$1,486
13 years$3,887$3,401$2,969$2,585$2,247$1,226
14 years$3,572$3,092$2,668$2,295$1,970$1,016
15 years$3,300$2,824$2,408$2,047$1,734$845
16 years$3,061$2,591$2,184$1,833$1,533$704
17 years$2,851$2,386$1,987$1,647$1,359$588
18 years$2,665$2,205$1,814$1,484$1,208$492
19 years$2,498$2,044$1,660$1,341$1,077$412
20 years$2,348$1,899$1,524$1,214$962$346
21 years$2,213$1,769$1,402$1,102$861$291
22 years$2,090$1,651$1,292$1,002$772$244
23 years$1,978$1,544$1,193$913$693$206
24 years$1,876$1,447$1,103$832$623$173
25 years$1,782$1,358$1,022$760$560$146
26 years$1,695$1,276$948$695$505$123
27 years$1,614$1,201$880$636$455$104
28 years$1,540$1,132$818$583$411$87
29 years$1,471$1,068$761$535$371$74
30 years$1,407$1,008$709$491$335$62
31 years$1,346$953$661$451$303$52
32 years$1,290$902$617$414$274$44
33 years$1,237$854$576$381$248$37
34 years$1,188$810$538$350$224$32
35 years$1,141$768$503$323$203$27
36 years$1,097$729$471$297$184$22
37 years$1,056$692$440$274$167$19
38 years$1,017$658$412$252$151$16
39 years$980$626$386$233$137$14
40 years$945$595$362$215$124$11
41 years$911$567$340$198$113$10
42 years$880$540$319$183$102$8
43 years$850$514$299$169$93$7
44 years$821$490$281$156$84$6
45 years$794$467$264$144$77$5
46 years$768$446$247$133$70$4
47 years$743$425$233$123$63$3
48 years$719$406$218$113$57$3
49 years$696$388$205$105$52$2
50 years$675$370$193$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $691,000, adding $6,188 every year, while hoping to spend $54,681 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: 50/34/16 Blend
70$691,000$691,000$691,000$691,000
71$767,865$731,242$720,531$802,579
72$788,007$708,893$686,489$804,792
73$808,371$683,616$649,474$801,010
74$828,921$655,209$609,328$795,701
75$849,618$623,462$565,887$788,741
76$870,415$588,147$518,980$779,995
77$891,258$549,026$468,426$769,319
78$912,087$505,849$414,039$756,559
79$932,833$458,349$355,623$741,550
80$953,418$406,244$292,972$724,115
81$973,753$349,238$225,874$704,064
82$993,741$287,015$154,105$681,194
83$1,013,268$219,244$77,433$655,286
84$1,032,209$145,575$0$626,106
85$1,050,423$65,636$0$594,153
86$1,067,752$0$0$572,562
87$1,084,020$0$0$555,698
88$1,099,028$0$0$562,658
89$1,112,558$0$0$568,761
90$1,124,362$0$0$573,871
91$1,134,167$0$0$577,835
92$1,141,669$0$0$580,486
93$1,146,529$0$0$581,633
94$1,148,369$0$0$581,068
95$1,146,770$0$0$578,560
96$1,141,269$0$0$573,849
97$1,131,349$0$0$566,651
98$1,116,437$0$0$556,648
99$1,095,900$0$0$543,489
100$1,069,033$0$0$526,785