Can I retire at age 71 with 12,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $12,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$990,949$982,122$973,510$965,105$956,897$918,568
2 years$490,569$481,432$472,578$463,993$455,665$417,531
3 years$323,797$314,621$305,789$297,285$289,093$252,354
4 years$240,428$231,280$222,536$214,177$206,183$171,119
5 years$190,419$181,326$172,697$164,508$156,737$123,437
6 years$157,091$148,067$139,565$131,559$124,021$92,505
7 years$133,294$124,346$115,979$108,162$100,862$71,119
8 years$115,455$106,588$98,360$90,734$83,675$55,674
9 years$101,588$92,804$84,717$77,285$70,466$44,164
10 years$90,500$81,802$73,858$66,621$60,041$35,386
11 years$81,434$72,823$65,024$57,980$51,637$28,571
12 years$73,885$65,362$57,707$50,856$44,748$23,208
13 years$67,502$59,068$51,557$44,898$39,021$18,941
14 years$62,035$53,692$46,324$39,856$34,205$15,517
15 years$57,302$49,048$41,825$35,544$30,117$12,752
16 years$53,165$45,001$37,920$31,826$26,618$10,505
17 years$49,518$41,444$34,506$28,595$23,601$8,671
18 years$46,279$38,296$31,499$25,770$20,985$7,170
19 years$43,385$35,493$28,836$23,286$18,704$5,936
20 years$40,784$32,981$26,464$21,090$16,707$4,920
21 years$38,434$30,721$24,342$19,140$14,951$4,082
22 years$36,300$28,677$22,435$17,403$13,401$3,389
23 years$34,354$26,821$20,715$15,849$12,030$2,816
24 years$32,574$25,129$19,158$14,455$10,813$2,340
25 years$30,938$23,583$17,744$13,201$9,730$1,946
26 years$29,430$22,164$16,457$12,071$8,764$1,619
27 years$28,037$20,859$15,281$11,049$7,902$1,347
28 years$26,745$19,655$14,206$10,123$7,130$1,121
29 years$25,545$18,542$13,220$9,283$6,438$933
30 years$24,427$17,511$12,314$8,519$5,817$777
31 years$23,383$16,554$11,480$7,824$5,259$647
32 years$22,406$15,663$10,711$7,191$4,757$539
33 years$21,490$14,834$10,001$6,613$4,305$449
34 years$20,630$14,059$9,344$6,084$3,898$374
35 years$19,821$13,335$8,736$5,601$3,531$312
36 years$19,059$12,656$8,172$5,158$3,199$260
37 years$18,339$12,021$7,649$4,753$2,899$216
38 years$17,659$11,424$7,163$4,381$2,629$180
39 years$17,016$10,863$6,711$4,039$2,384$150
40 years$16,406$10,335$6,290$3,725$2,162$125
41 years$15,827$9,838$5,898$3,437$1,961$104
42 years$15,278$9,370$5,533$3,172$1,780$87
43 years$14,755$8,927$5,192$2,928$1,615$72
44 years$14,258$8,510$4,873$2,704$1,466$60
45 years$13,784$8,115$4,576$2,497$1,331$50
46 years$13,332$7,741$4,298$2,307$1,209$42
47 years$12,900$7,387$4,038$2,131$1,097$35
48 years$12,488$7,052$3,794$1,969$997$29
49 years$12,094$6,735$3,567$1,820$905$24
50 years$11,716$6,433$3,353$1,682$822$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $12,000,000, adding $6,443 every year, while hoping to spend $24,046 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: 43/28/29 Blend
70$12,000,000$12,000,000$12,000,000$12,000,000
71$13,230,646$12,594,646$12,408,646$13,687,383
72$14,554,587$13,186,199$12,798,751$14,607,586
73$16,012,764$13,805,932$13,201,118$15,601,236
74$17,618,844$14,455,201$13,616,134$16,677,439
75$19,387,887$15,135,426$14,044,195$17,843,867
76$21,336,487$15,848,098$14,485,711$19,108,945
77$23,482,933$16,594,778$14,941,106$20,481,925
78$25,847,374$17,377,105$15,410,816$21,972,967
79$28,452,018$18,196,795$15,895,290$23,593,232
80$31,321,335$19,055,648$16,394,993$25,354,985
81$34,482,289$19,955,553$16,910,403$27,271,700
82$37,964,594$20,898,487$17,442,013$29,358,187
83$41,800,996$21,886,526$17,990,334$31,630,725
84$46,027,577$22,921,846$18,555,890$34,107,209
85$50,684,100$24,006,726$19,139,222$36,807,312
86$55,814,383$25,143,560$19,740,891$39,752,669
87$61,466,710$26,334,855$20,361,471$42,967,069
88$67,694,291$27,583,239$21,001,557$46,476,675
89$74,555,762$28,891,471$21,661,762$50,310,268
90$82,115,738$30,262,441$22,342,719$54,499,504
91$90,445,422$31,699,180$23,045,079$59,079,210
92$99,623,281$33,204,866$23,769,515$64,087,703
93$109,735,784$34,782,832$24,516,722$69,567,144
94$120,878,216$36,436,573$25,287,414$75,563,925
95$133,155,582$38,169,753$26,082,330$82,129,103
96$146,683,594$39,986,214$26,902,231$89,318,865
97$161,589,767$41,889,984$27,747,902$97,195,054
98$178,014,620$43,885,290$28,620,154$105,825,741
99$196,113,002$45,976,561$29,519,820$115,285,853
100$216,055,558$48,168,442$30,447,764$125,657,876