Can I retire at age 71 with 19,700,000?

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 $19,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$1,626,808$1,612,317$1,598,179$1,584,380$1,570,906$1,537,303
2 years$805,350$790,351$775,815$761,721$748,050$714,360
3 years$531,567$516,503$502,004$488,042$474,594$441,868
4 years$394,702$379,685$365,330$351,607$338,484$306,974
5 years$312,605$297,677$283,511$270,068$257,310$227,105
6 years$257,891$243,076$229,119$215,975$203,601$174,732
7 years$218,825$204,135$190,399$177,565$165,582$138,056
8 years$189,539$174,981$161,474$148,955$137,366$111,174
9 years$166,773$152,353$139,077$126,877$115,682$90,805
10 years$148,571$134,291$121,251$109,369$98,567$74,979
11 years$133,688$119,552$106,747$95,184$84,771$62,442
12 years$121,294$107,303$94,735$83,489$73,461$52,357
13 years$110,815$96,971$84,640$73,708$64,059$44,144
14 years$101,841$88,144$76,049$65,430$56,154$37,388
15 years$94,071$80,521$68,662$58,352$49,442$31,783
16 years$87,278$73,876$62,253$52,248$43,697$27,103
17 years$81,291$68,037$56,647$46,944$38,745$23,173
18 years$75,975$62,870$51,712$42,306$34,450$19,855
19 years$71,225$58,267$47,339$38,227$30,706$17,044
20 years$66,954$54,144$43,446$34,622$27,427$14,654
21 years$63,095$50,433$39,962$31,422$24,544$12,616
22 years$59,592$47,078$36,831$28,570$22,001$10,874
23 years$56,398$44,031$34,007$26,019$19,749$9,382
24 years$53,475$41,254$31,451$23,731$17,751$8,101
25 years$50,790$38,715$29,130$21,672$15,973$7,000
26 years$48,315$36,386$27,016$19,816$14,388$6,053
27 years$46,027$34,243$25,087$18,138$12,972$5,236
28 years$43,907$32,267$23,322$16,618$11,705$4,532
29 years$41,936$30,440$21,703$15,239$10,569$3,924
30 years$40,101$28,748$20,215$13,986$9,550$3,399
31 years$38,387$27,176$18,846$12,845$8,634$2,945
32 years$36,783$25,714$17,584$11,805$7,810$2,552
33 years$35,280$24,352$16,418$10,856$7,068$2,212
34 years$33,868$23,080$15,340$9,988$6,399$1,918
35 years$32,540$21,891$14,342$9,195$5,796$1,663
36 years$31,288$20,778$13,416$8,468$5,252$1,442
37 years$30,107$19,734$12,558$7,802$4,760$1,251
38 years$28,991$18,754$11,760$7,191$4,315$1,085
39 years$27,934$17,834$11,017$6,631$3,913$941
40 years$26,933$16,967$10,327$6,116$3,549$817
41 years$25,983$16,151$9,683$5,643$3,220$709
42 years$25,081$15,382$9,083$5,208$2,922$615
43 years$24,223$14,656$8,523$4,807$2,652$534
44 years$23,406$13,970$8,001$4,439$2,407$463
45 years$22,628$13,322$7,512$4,099$2,185$402
46 years$21,886$12,708$7,056$3,787$1,984$349
47 years$21,178$12,128$6,629$3,498$1,802$303
48 years$20,501$11,577$6,229$3,233$1,636$263
49 years$19,854$11,056$5,855$2,987$1,486$228
50 years$19,234$10,561$5,505$2,761$1,350$198

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $19,700,000, adding $2,240 every year, while hoping to spend $48,191 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: 52/21/27 Blend
70$19,700,000$19,700,000$19,700,000$19,700,000
71$21,711,711$20,667,611$20,362,261$22,676,366
72$23,875,030$21,629,049$20,993,121$24,307,747
73$26,257,393$22,635,982$21,643,501$26,076,356
74$28,881,091$23,690,589$22,314,002$27,999,380
75$31,770,688$24,795,153$23,005,247$30,091,571
76$34,953,251$25,952,069$23,717,875$32,369,148
77$38,458,607$27,163,844$24,452,548$34,849,938
78$42,319,623$28,433,111$25,209,947$37,553,547
79$46,572,517$29,762,626$25,990,773$40,501,530
80$51,257,200$31,155,281$26,795,750$43,717,599
81$56,417,650$32,614,105$27,625,623$47,227,830
82$62,102,332$34,142,277$28,481,163$51,060,909
83$68,364,648$35,743,127$29,363,160$55,248,394
84$75,263,448$37,420,147$30,272,432$59,825,006
85$82,863,583$39,176,997$31,209,822$64,828,947
86$91,236,514$41,017,516$32,176,197$70,302,256
87$100,460,991$42,945,727$33,172,452$76,291,197
88$110,623,793$44,965,848$34,199,509$82,846,682
89$121,820,548$47,082,302$35,258,321$90,024,752
90$134,156,635$49,299,726$36,349,866$97,887,088
91$147,748,180$51,622,981$37,475,155$106,501,588
92$162,723,151$54,057,164$38,635,229$115,942,995
93$179,222,566$56,607,619$39,831,163$126,293,597
94$197,401,824$59,279,948$41,064,063$137,643,984
95$217,432,170$62,080,026$42,335,069$150,093,902
96$239,502,316$65,014,011$43,645,358$163,753,174
97$263,820,216$68,088,362$44,996,142$178,742,728
98$290,615,035$71,309,849$46,388,669$195,195,724
99$320,139,308$74,685,571$47,824,229$213,258,799
100$352,671,325$78,222,972$49,304,149$233,093,434