Can I retire at age 71 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$58,796$58,273$57,762$57,263$56,776$56,206
2 years$29,107$28,565$28,040$27,530$27,036$26,462
3 years$19,212$18,668$18,143$17,639$17,153$16,593
4 years$14,265$13,723$13,204$12,708$12,234$11,692
5 years$11,298$10,759$10,247$9,761$9,300$8,777
6 years$9,321$8,785$8,281$7,806$7,359$6,856
7 years$7,909$7,378$6,881$6,418$5,984$5,503
8 years$6,850$6,324$5,836$5,384$4,965$4,503
9 years$6,028$5,506$5,027$4,586$4,181$3,740
10 years$5,370$4,854$4,382$3,953$3,562$3,141
11 years$4,832$4,321$3,858$3,440$3,064$2,663
12 years$4,384$3,878$3,424$3,017$2,655$2,273
13 years$4,005$3,505$3,059$2,664$2,315$1,952
14 years$3,681$3,186$2,749$2,365$2,030$1,685
15 years$3,400$2,910$2,482$2,109$1,787$1,460
16 years$3,154$2,670$2,250$1,888$1,579$1,269
17 years$2,938$2,459$2,047$1,697$1,400$1,107
18 years$2,746$2,272$1,869$1,529$1,245$968
19 years$2,574$2,106$1,711$1,382$1,110$848
20 years$2,420$1,957$1,570$1,251$991$745
21 years$2,280$1,823$1,444$1,136$887$655
22 years$2,154$1,701$1,331$1,033$795$577
23 years$2,038$1,591$1,229$940$714$508
24 years$1,933$1,491$1,137$858$642$449
25 years$1,836$1,399$1,053$783$577$396
26 years$1,746$1,315$976$716$520$350
27 years$1,664$1,238$907$656$469$310
28 years$1,587$1,166$843$601$423$274
29 years$1,516$1,100$784$551$382$243
30 years$1,449$1,039$731$505$345$215
31 years$1,387$982$681$464$312$191
32 years$1,329$929$636$427$282$169
33 years$1,275$880$593$392$255$150
34 years$1,224$834$554$361$231$133
35 years$1,176$791$518$332$209$118
36 years$1,131$751$485$306$190$105
37 years$1,088$713$454$282$172$93
38 years$1,048$678$425$260$156$83
39 years$1,010$645$398$240$141$74
40 years$973$613$373$221$128$66
41 years$939$584$350$204$116$58
42 years$906$556$328$188$106$52
43 years$875$530$308$174$96$46
44 years$846$505$289$160$87$41
45 years$818$481$272$148$79$36
46 years$791$459$255$137$72$32
47 years$765$438$240$126$65$29
48 years$741$418$225$117$59$26
49 years$718$400$212$108$54$23
50 years$695$382$199$100$49$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $712,000, adding $2,947 every year, while hoping to spend $59,947 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: 79/10/11 Blend
70$712,000$712,000$712,000$712,000
71$787,664$749,928$738,892$848,122
72$804,222$722,891$699,862$861,222
73$820,461$692,521$657,515$867,538
74$836,283$658,589$611,677$872,727
75$851,581$620,858$562,165$876,649
76$866,235$579,072$508,790$879,152
77$880,109$532,964$451,353$880,066
78$893,052$482,251$389,645$879,208
79$904,895$426,633$323,449$876,374
80$915,449$365,794$252,540$871,342
81$924,505$299,398$176,680$863,867
82$931,829$227,093$95,623$853,680
83$937,160$148,505$9,111$840,486
84$940,209$63,240$0$823,962
85$940,654$0$0$813,519
86$938,137$0$0$803,980
87$932,262$0$0$798,464
88$922,588$0$0$789,628
89$908,627$0$0$777,047
90$889,839$0$0$760,250
91$865,623$0$0$738,713
92$835,315$0$0$711,859
93$798,179$0$0$679,046
94$753,402$0$0$639,565
95$700,083$0$0$592,632
96$637,225$0$0$537,379
97$563,726$0$0$472,845
98$478,368$0$0$397,969
99$379,803$0$0$311,578
100$266,542$0$0$212,375