Can I retire at age 71 with 793,000?

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 $793,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$65,485$64,902$64,333$63,777$63,235$62,419
2 years$32,418$31,815$31,230$30,662$30,112$29,291
3 years$21,398$20,791$20,208$19,646$19,104$18,304
4 years$15,888$15,284$14,706$14,154$13,625$12,852
5 years$12,584$11,983$11,412$10,871$10,358$9,613
6 years$10,381$9,785$9,223$8,694$8,196$7,481
7 years$8,809$8,217$7,664$7,148$6,665$5,981
8 years$7,630$7,044$6,500$5,996$5,530$4,875
9 years$6,713$6,133$5,598$5,107$4,657$4,032
10 years$5,981$5,406$4,881$4,403$3,968$3,372
11 years$5,381$4,812$4,297$3,832$3,412$2,846
12 years$4,883$4,319$3,813$3,361$2,957$2,419
13 years$4,461$3,903$3,407$2,967$2,579$2,068
14 years$4,100$3,548$3,061$2,634$2,260$1,776
15 years$3,787$3,241$2,764$2,349$1,990$1,532
16 years$3,513$2,974$2,506$2,103$1,759$1,326
17 years$3,272$2,739$2,280$1,890$1,560$1,151
18 years$3,058$2,531$2,082$1,703$1,387$1,001
19 years$2,867$2,345$1,906$1,539$1,236$873
20 years$2,695$2,180$1,749$1,394$1,104$762
21 years$2,540$2,030$1,609$1,265$988$667
22 years$2,399$1,895$1,483$1,150$886$584
23 years$2,270$1,772$1,369$1,047$795$512
24 years$2,153$1,661$1,266$955$715$449
25 years$2,044$1,558$1,173$872$643$395
26 years$1,945$1,465$1,088$798$579$347
27 years$1,853$1,378$1,010$730$522$306
28 years$1,767$1,299$939$669$471$269
29 years$1,688$1,225$874$613$425$237
30 years$1,614$1,157$814$563$384$209
31 years$1,545$1,094$759$517$348$184
32 years$1,481$1,035$708$475$314$162
33 years$1,420$980$661$437$285$143
34 years$1,363$929$617$402$258$126
35 years$1,310$881$577$370$233$112
36 years$1,259$836$540$341$211$98
37 years$1,212$794$505$314$192$87
38 years$1,167$755$473$289$174$77
39 years$1,124$718$443$267$158$68
40 years$1,084$683$416$246$143$60
41 years$1,046$650$390$227$130$53
42 years$1,010$619$366$210$118$47
43 years$975$590$343$194$107$41
44 years$942$562$322$179$97$36
45 years$911$536$302$165$88$32
46 years$881$512$284$152$80$28
47 years$852$488$267$141$73$25
48 years$825$466$251$130$66$22
49 years$799$445$236$120$60$20
50 years$774$425$222$111$54$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $793,000, adding $5,206 every year, while hoping to spend $41,933 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: 63/13/24 Blend
70$793,000$793,000$793,000$793,000
71$879,256$837,227$824,935$928,799
72$924,324$833,635$807,954$959,319
73$972,583$828,461$788,999$987,527
74$1,024,315$821,584$767,959$1,017,399
75$1,079,828$812,875$744,719$1,049,106
76$1,139,461$802,196$719,158$1,082,831
77$1,203,586$789,404$691,149$1,118,784
78$1,272,610$774,343$660,561$1,157,193
79$1,346,982$756,851$627,256$1,198,313
80$1,427,194$736,757$591,088$1,242,427
81$1,513,786$713,876$551,908$1,289,848
82$1,607,352$688,016$509,557$1,340,922
83$1,708,546$658,973$463,871$1,396,035
84$1,818,085$626,530$414,678$1,455,613
85$1,936,758$590,458$361,798$1,520,127
86$2,065,432$550,515$305,042$1,590,102
87$2,205,061$506,445$244,216$1,666,114
88$2,356,694$457,978$179,115$1,748,806
89$2,521,486$404,828$109,524$1,838,886
90$2,700,705$346,692$35,221$1,937,140
91$2,895,749$283,252$0$2,044,436
92$3,108,153$214,169$0$2,173,021
93$3,339,609$139,088$0$2,323,031
94$3,591,979$57,632$0$2,486,676
95$3,867,309$0$0$2,665,324
96$4,167,855$0$0$2,864,860
97$4,496,098$0$0$3,091,842
98$4,854,770$0$0$3,339,920
99$5,246,880$0$0$3,611,184
100$5,675,737$0$0$3,907,929