Can I retire at age 71 with 12,300,000?

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 $12,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$1,015,723$1,006,675$997,848$989,232$980,819$955,945
2 years$502,833$493,468$484,392$475,592$467,057$442,158
3 years$331,892$322,487$313,434$304,717$296,320$272,175
4 years$246,438$237,062$228,100$219,531$211,338$188,133
5 years$195,180$185,859$177,015$168,621$160,656$138,455
6 years$161,018$151,768$143,054$134,848$127,121$105,947
7 years$136,627$127,455$118,879$110,866$103,384$83,237
8 years$118,342$109,252$100,818$93,002$85,767$66,639
9 years$104,127$95,124$86,835$79,217$72,228$54,103
10 years$92,762$83,847$75,705$68,286$61,542$44,398
11 years$83,470$74,644$66,649$59,429$52,928$36,740
12 years$75,732$66,996$59,149$52,128$45,866$30,605
13 years$69,189$60,545$52,846$46,021$39,996$25,632
14 years$63,586$55,034$47,482$40,852$35,061$21,561
15 years$58,735$50,274$42,870$36,433$30,870$18,202
16 years$54,494$46,126$38,868$32,622$27,283$15,412
17 years$50,755$42,480$35,369$29,310$24,191$13,082
18 years$47,436$39,254$32,287$26,415$21,510$11,127
19 years$44,470$36,380$29,557$23,868$19,172$9,481
20 years$41,804$33,806$27,126$21,617$17,125$8,090
21 years$39,395$31,489$24,951$19,619$15,325$6,912
22 years$37,207$29,394$22,996$17,838$13,736$5,911
23 years$35,213$27,491$21,233$16,245$12,331$5,060
24 years$33,388$25,758$19,637$14,817$11,083$4,335
25 years$31,711$24,172$18,187$13,531$9,973$3,716
26 years$30,166$22,718$16,868$12,372$8,983$3,187
27 years$28,738$21,380$15,663$11,325$8,099$2,735
28 years$27,414$20,147$14,561$10,376$7,308$2,348
29 years$26,184$19,006$13,550$9,515$6,599$2,016
30 years$25,037$17,949$12,622$8,732$5,963$1,732
31 years$23,967$16,968$11,767$8,020$5,391$1,488
32 years$22,966$16,055$10,979$7,371$4,876$1,279
33 years$22,027$15,204$10,251$6,778$4,413$1,100
34 years$21,146$14,410$9,578$6,236$3,996$945
35 years$20,317$13,668$8,955$5,741$3,619$813
36 years$19,535$12,973$8,377$5,287$3,279$699
37 years$18,798$12,321$7,841$4,871$2,972$601
38 years$18,101$11,710$7,342$4,490$2,694$517
39 years$17,441$11,135$6,879$4,140$2,443$445
40 years$16,816$10,594$6,448$3,819$2,216$383
41 years$16,223$10,084$6,046$3,523$2,010$329
42 years$15,660$9,604$5,671$3,251$1,824$283
43 years$15,124$9,151$5,322$3,001$1,656$244
44 years$14,614$8,722$4,995$2,771$1,503$210
45 years$14,128$8,318$4,690$2,559$1,364$180
46 years$13,665$7,935$4,405$2,364$1,239$155
47 years$13,223$7,572$4,139$2,184$1,125$134
48 years$12,800$7,229$3,889$2,018$1,022$115
49 years$12,396$6,903$3,656$1,865$928$99
50 years$12,009$6,594$3,437$1,724$843$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $12,300,000, adding $5,133 every year, while hoping to spend $28,211 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: 37/38/25 Blend
70$12,300,000$12,300,000$12,300,000$12,300,000
71$13,559,895$12,907,995$12,717,345$13,959,797
72$14,912,988$13,510,470$13,113,359$14,856,273
73$16,403,151$14,141,521$13,521,695$15,820,986
74$18,044,335$14,802,519$13,942,735$16,862,499
75$19,851,914$15,494,899$14,376,873$17,987,753
76$21,842,828$16,220,168$14,824,518$19,204,363
77$24,035,746$16,979,905$15,286,088$20,520,677
78$26,451,236$17,775,765$15,762,017$21,945,854
79$29,111,968$18,609,484$16,252,750$23,489,945
80$32,042,920$19,482,879$16,758,748$25,163,977
81$35,271,617$20,397,860$17,280,485$26,980,058
82$38,828,391$21,356,424$17,818,451$28,951,478
83$42,746,667$22,360,669$18,373,149$31,092,831
84$47,063,277$23,412,792$18,945,099$33,420,147
85$51,818,810$24,515,097$19,534,839$35,951,031
86$57,057,991$25,670,000$20,142,919$38,704,827
87$62,830,110$26,880,033$20,769,910$41,702,788
88$69,189,479$28,147,853$21,416,400$44,968,269
89$76,195,951$29,476,243$22,082,995$48,526,943
90$83,915,481$30,868,122$22,770,318$52,407,026
91$92,420,751$32,326,550$23,479,014$56,639,540
92$101,791,854$33,854,737$24,209,747$61,258,592
93$112,117,051$35,456,048$24,963,202$66,301,690
94$123,493,605$37,134,008$25,740,084$71,810,079
95$136,028,696$38,892,319$26,541,120$77,829,124
96$149,840,438$40,734,857$27,367,062$84,408,724
97$165,058,986$42,665,689$28,218,683$91,603,769
98$181,827,774$44,689,078$29,096,780$99,474,650
99$200,304,860$46,809,496$30,002,175$108,087,806
100$220,664,425$49,031,631$30,935,717$117,516,348