Can I retire at age 71 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$61,274$60,728$60,195$59,676$59,168$57,505
2 years$30,333$29,769$29,221$28,690$28,175$26,512
3 years$20,021$19,454$18,908$18,382$17,876$16,265
4 years$14,866$14,301$13,760$13,243$12,749$11,203
5 years$11,774$11,212$10,678$10,172$9,692$8,214
6 years$9,713$9,155$8,630$8,135$7,669$6,262
7 years$8,242$7,689$7,171$6,688$6,237$4,900
8 years$7,139$6,591$6,082$5,610$5,174$3,907
9 years$6,281$5,738$5,238$4,779$4,357$3,158
10 years$5,596$5,058$4,567$4,119$3,713$2,581
11 years$5,035$4,503$4,021$3,585$3,193$2,126
12 years$4,569$4,042$3,568$3,145$2,767$1,763
13 years$4,174$3,652$3,188$2,776$2,413$1,469
14 years$3,836$3,320$2,864$2,464$2,115$1,230
15 years$3,543$3,033$2,586$2,198$1,862$1,033
16 years$3,287$2,783$2,345$1,968$1,646$871
17 years$3,062$2,563$2,134$1,768$1,459$735
18 years$2,862$2,368$1,948$1,593$1,298$622
19 years$2,683$2,195$1,783$1,440$1,157$527
20 years$2,522$2,039$1,636$1,304$1,033$448
21 years$2,376$1,900$1,505$1,184$924$380
22 years$2,245$1,773$1,387$1,076$829$324
23 years$2,124$1,658$1,281$980$744$275
24 years$2,014$1,554$1,185$894$669$235
25 years$1,913$1,458$1,097$816$602$200
26 years$1,820$1,370$1,018$746$542$171
27 years$1,734$1,290$945$683$489$146
28 years$1,654$1,215$878$626$441$124
29 years$1,580$1,147$817$574$398$106
30 years$1,510$1,083$761$527$360$91
31 years$1,446$1,024$710$484$325$77
32 years$1,385$969$662$445$294$66
33 years$1,329$917$618$409$266$57
34 years$1,276$869$578$376$241$48
35 years$1,226$825$540$346$218$41
36 years$1,178$783$505$319$198$35
37 years$1,134$743$473$294$179$30
38 years$1,092$706$443$271$163$26
39 years$1,052$672$415$250$147$22
40 years$1,014$639$389$230$134$19
41 years$979$608$365$213$121$16
42 years$945$579$342$196$110$14
43 years$912$552$321$181$100$12
44 years$882$526$301$167$91$10
45 years$852$502$283$154$82$9
46 years$824$479$266$143$75$7
47 years$798$457$250$132$68$6
48 years$772$436$235$122$62$5
49 years$748$416$221$113$56$5
50 years$724$398$207$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $742,000, adding $4,271 every year, while hoping to spend $26,740 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: 52/30/18 Blend
70$742,000$742,000$742,000$742,000
71$822,090$782,764$771,263$860,579
72$877,492$792,668$768,649$897,381
73$937,648$802,161$765,051$934,237
74$1,003,017$811,195$760,408$973,744
75$1,074,099$819,718$754,657$1,016,159
76$1,151,448$827,676$747,729$1,061,771
77$1,235,672$835,008$739,554$1,110,897
78$1,327,441$841,654$730,059$1,163,886
79$1,427,490$847,545$719,167$1,221,126
80$1,536,631$852,612$706,795$1,283,043
81$1,655,756$856,778$692,861$1,350,110
82$1,785,846$859,963$677,276$1,422,847
83$1,927,984$862,083$659,946$1,501,831
84$2,083,359$863,046$640,775$1,587,697
85$2,253,282$862,756$619,662$1,681,147
86$2,439,196$861,110$596,500$1,782,955
87$2,642,690$858,000$571,178$1,893,978
88$2,865,513$853,311$543,581$2,015,161
89$3,109,592$846,920$513,588$2,147,545
90$3,377,049$838,698$481,071$2,292,284
91$3,670,220$828,506$445,899$2,450,648
92$3,991,679$816,199$407,934$2,624,040
93$4,344,261$801,623$367,029$2,814,010
94$4,731,086$784,613$323,036$3,022,266
95$5,155,595$764,997$275,796$3,250,696
96$5,621,575$742,591$225,144$3,501,382
97$6,133,198$717,201$170,908$3,776,622
98$6,695,060$688,620$112,910$4,078,952
99$7,312,226$656,632$50,962$4,411,169
100$7,990,271$621,005$0$4,776,362