Can I retire at age 71 with 719,000?

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 $719,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$59,374$58,845$58,329$57,826$57,334$57,045
2 years$29,393$28,846$28,315$27,801$27,302$27,010
3 years$19,401$18,851$18,322$17,812$17,321$17,036
4 years$14,406$13,858$13,334$12,833$12,354$12,077
5 years$11,409$10,864$10,347$9,857$9,391$9,123
6 years$9,412$8,872$8,362$7,883$7,431$7,173
7 years$7,987$7,450$6,949$6,481$6,043$5,795
8 years$6,918$6,386$5,893$5,436$5,014$4,775
9 years$6,087$5,560$5,076$4,631$4,222$3,994
10 years$5,422$4,901$4,425$3,992$3,597$3,379
11 years$4,879$4,363$3,896$3,474$3,094$2,885
12 years$4,427$3,916$3,458$3,047$2,681$2,481
13 years$4,044$3,539$3,089$2,690$2,338$2,147
14 years$3,717$3,217$2,776$2,388$2,049$1,868
15 years$3,433$2,939$2,506$2,130$1,805$1,632
16 years$3,185$2,696$2,272$1,907$1,595$1,431
17 years$2,967$2,483$2,067$1,713$1,414$1,258
18 years$2,773$2,295$1,887$1,544$1,257$1,109
19 years$2,600$2,127$1,728$1,395$1,121$980
20 years$2,444$1,976$1,586$1,264$1,001$868
21 years$2,303$1,841$1,459$1,147$896$770
22 years$2,175$1,718$1,344$1,043$803$684
23 years$2,058$1,607$1,241$950$721$609
24 years$1,952$1,506$1,148$866$648$542
25 years$1,854$1,413$1,063$791$583$484
26 years$1,763$1,328$986$723$525$432
27 years$1,680$1,250$916$662$473$386
28 years$1,602$1,178$851$607$427$345
29 years$1,531$1,111$792$556$386$308
30 years$1,464$1,049$738$510$349$276
31 years$1,401$992$688$469$315$247
32 years$1,342$939$642$431$285$221
33 years$1,288$889$599$396$258$198
34 years$1,236$842$560$365$234$178
35 years$1,188$799$523$336$212$159
36 years$1,142$758$490$309$192$143
37 years$1,099$720$458$285$174$128
38 years$1,058$684$429$262$157$115
39 years$1,020$651$402$242$143$103
40 years$983$619$377$223$130$93
41 years$948$589$353$206$118$83
42 years$915$561$332$190$107$75
43 years$884$535$311$175$97$67
44 years$854$510$292$162$88$60
45 years$826$486$274$150$80$54
46 years$799$464$258$138$72$49
47 years$773$443$242$128$66$44
48 years$748$423$227$118$60$39
49 years$725$404$214$109$54$35
50 years$702$385$201$101$49$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $719,000, adding $4,118 every year, while hoping to spend $39,257 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: 58/13/29 Blend
70$719,000$719,000$719,000$719,000
71$796,586$758,479$747,334$836,247
72$836,068$753,875$730,601$859,302
73$878,262$747,730$711,991$879,954
74$923,403$739,927$691,401$901,673
75$971,748$730,341$668,721$924,574
76$1,023,581$718,842$643,837$948,786
77$1,079,210$705,290$616,630$974,452
78$1,138,978$689,537$586,975$1,001,732
79$1,203,257$671,428$554,742$1,030,806
80$1,272,458$650,796$519,794$1,061,871
81$1,347,030$627,467$481,990$1,095,150
82$1,427,470$601,256$441,179$1,130,889
83$1,514,321$571,966$397,207$1,169,362
84$1,608,180$539,391$349,912$1,210,875
85$1,709,704$503,310$299,123$1,255,766
86$1,819,613$463,492$244,664$1,304,412
87$1,938,703$419,692$186,349$1,357,231
88$2,067,844$371,651$123,985$1,414,688
89$2,207,997$319,095$57,372$1,477,298
90$2,360,216$261,734$0$1,545,634
91$2,525,663$199,263$0$1,624,574
92$2,705,613$131,359$0$1,729,799
93$2,901,471$57,682$0$1,844,387
94$3,114,783$0$0$1,969,277
95$3,347,250$0$0$2,108,670
96$3,600,744$0$0$2,269,724
97$3,877,324$0$0$2,445,504
98$4,179,258$0$0$2,637,457
99$4,509,043$0$0$2,847,179
100$4,869,426$0$0$3,076,425