Can I retire at age 71 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$61,521$60,973$60,439$59,917$59,407$58,762
2 years$30,456$29,889$29,339$28,806$28,289$27,640
3 years$20,102$19,533$18,984$18,456$17,948$17,314
4 years$14,927$14,359$13,816$13,297$12,801$12,188
5 years$11,822$11,257$10,722$10,213$9,731$9,140
6 years$9,753$9,192$8,665$8,168$7,700$7,132
7 years$8,275$7,720$7,200$6,715$6,262$5,718
8 years$7,168$6,617$6,106$5,633$5,195$4,674
9 years$6,307$5,762$5,260$4,798$4,375$3,877
10 years$5,619$5,079$4,585$4,136$3,728$3,253
11 years$5,056$4,521$4,037$3,600$3,206$2,753
12 years$4,587$4,058$3,583$3,157$2,778$2,348
13 years$4,191$3,667$3,201$2,787$2,423$2,013
14 years$3,851$3,333$2,876$2,474$2,124$1,735
15 years$3,558$3,045$2,597$2,207$1,870$1,502
16 years$3,301$2,794$2,354$1,976$1,653$1,304
17 years$3,074$2,573$2,142$1,775$1,465$1,136
18 years$2,873$2,378$1,956$1,600$1,303$992
19 years$2,694$2,203$1,790$1,446$1,161$868
20 years$2,532$2,048$1,643$1,309$1,037$761
21 years$2,386$1,907$1,511$1,188$928$668
22 years$2,254$1,780$1,393$1,080$832$587
23 years$2,133$1,665$1,286$984$747$517
24 years$2,022$1,560$1,189$897$671$455
25 years$1,921$1,464$1,102$820$604$402
26 years$1,827$1,376$1,022$749$544$355
27 years$1,741$1,295$949$686$491$313
28 years$1,660$1,220$882$628$443$277
29 years$1,586$1,151$821$576$400$245
30 years$1,516$1,087$764$529$361$217
31 years$1,452$1,028$713$486$327$192
32 years$1,391$972$665$446$295$170
33 years$1,334$921$621$411$267$150
34 years$1,281$873$580$378$242$133
35 years$1,231$828$542$348$219$118
36 years$1,183$786$507$320$199$105
37 years$1,139$746$475$295$180$93
38 years$1,096$709$445$272$163$82
39 years$1,056$674$417$251$148$73
40 years$1,019$642$391$231$134$65
41 years$983$611$366$213$122$58
42 years$948$582$343$197$110$51
43 years$916$554$322$182$100$45
44 years$885$528$303$168$91$40
45 years$856$504$284$155$83$36
46 years$828$481$267$143$75$32
47 years$801$459$251$132$68$28
48 years$775$438$236$122$62$25
49 years$751$418$221$113$56$22
50 years$727$399$208$104$51$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $745,000, adding $6,085 every year, while hoping to spend $49,043 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: 68/23/9 Blend
70$745,000$745,000$745,000$745,000
71$827,267$787,782$776,234$881,665
72$859,467$774,202$750,057$904,973
73$893,307$758,312$721,358$923,966
74$928,904$739,949$690,003$943,436
75$966,382$718,937$655,849$963,420
76$1,005,880$695,092$618,747$983,965
77$1,047,545$668,217$578,540$1,005,119
78$1,091,541$638,106$535,068$1,026,940
79$1,138,045$604,539$488,159$1,049,492
80$1,187,250$567,286$437,636$1,072,847
81$1,239,367$526,100$383,315$1,097,088
82$1,294,627$480,724$325,000$1,122,308
83$1,353,282$430,883$262,491$1,148,609
84$1,415,608$376,287$195,576$1,176,111
85$1,481,906$316,632$124,034$1,204,944
86$1,552,507$251,593$47,635$1,235,257
87$1,627,772$180,830$0$1,267,217
88$1,708,096$103,982$0$1,304,264
89$1,793,914$20,669$0$1,348,446
90$1,885,700$0$0$1,395,443
91$1,983,976$0$0$1,463,136
92$2,089,313$0$0$1,541,328
93$2,202,338$0$0$1,625,258
94$2,323,738$0$0$1,715,441
95$2,454,270$0$0$1,812,441
96$2,594,761$0$0$1,916,879
97$2,746,123$0$0$2,029,436
98$2,909,354$0$0$2,150,860
99$3,085,553$0$0$2,281,974
100$3,275,927$0$0$2,423,681