Can I retire at age 71 with 5,000,000?

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 $5,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$412,895$409,217$405,629$402,127$398,707$387,498
2 years$204,404$200,597$196,907$193,330$189,860$178,653
3 years$134,915$131,092$127,412$123,869$120,455$109,600
4 years$100,178$96,367$92,723$89,240$85,910$75,490
5 years$79,341$75,553$71,957$68,545$65,307$55,352
6 years$65,455$61,694$58,152$54,816$51,675$42,194
7 years$55,539$51,811$48,325$45,067$42,026$33,019
8 years$48,106$44,411$40,983$37,806$34,865$26,326
9 years$42,328$38,668$35,299$32,202$29,361$21,283
10 years$37,708$34,084$30,774$27,759$25,017$17,389
11 years$33,931$30,343$27,093$24,158$21,515$14,326
12 years$30,785$27,234$24,044$21,190$18,645$11,879
13 years$28,126$24,612$21,482$18,708$16,259$9,902
14 years$25,848$22,371$19,302$16,607$14,252$8,289
15 years$23,876$20,437$17,427$14,810$12,549$6,963
16 years$22,152$18,750$15,800$13,261$11,091$5,867
17 years$20,632$17,268$14,377$11,915$9,834$4,954
18 years$19,283$15,957$13,125$10,738$8,744$4,192
19 years$18,077$14,789$12,015$9,702$7,793$3,553
20 years$16,993$13,742$11,027$8,787$6,961$3,016
21 years$16,014$12,800$10,143$7,975$6,230$2,563
22 years$15,125$11,949$9,348$7,251$5,584$2,180
23 years$14,314$11,175$8,631$6,604$5,012$1,856
24 years$13,572$10,471$7,982$6,023$4,505$1,581
25 years$12,891$9,826$7,393$5,501$4,054$1,348
26 years$12,263$9,235$6,857$5,029$3,652$1,150
27 years$11,682$8,691$6,367$4,604$3,292$981
28 years$11,144$8,190$5,919$4,218$2,971$837
29 years$10,644$7,726$5,508$3,868$2,683$715
30 years$10,178$7,296$5,131$3,550$2,424$611
31 years$9,743$6,898$4,783$3,260$2,191$522
32 years$9,336$6,526$4,463$2,996$1,982$446
33 years$8,954$6,181$4,167$2,755$1,794$381
34 years$8,596$5,858$3,893$2,535$1,624$326
35 years$8,259$5,556$3,640$2,334$1,471$278
36 years$7,941$5,274$3,405$2,149$1,333$238
37 years$7,641$5,009$3,187$1,980$1,208$203
38 years$7,358$4,760$2,985$1,825$1,095$174
39 years$7,090$4,526$2,796$1,683$993$149
40 years$6,836$4,306$2,621$1,552$901$127
41 years$6,595$4,099$2,458$1,432$817$109
42 years$6,366$3,904$2,305$1,322$742$93
43 years$6,148$3,720$2,163$1,220$673$80
44 years$5,941$3,546$2,031$1,127$611$68
45 years$5,743$3,381$1,907$1,040$555$58
46 years$5,555$3,225$1,791$961$504$50
47 years$5,375$3,078$1,682$888$457$43
48 years$5,203$2,938$1,581$820$415$36
49 years$5,039$2,806$1,486$758$377$31
50 years$4,882$2,680$1,397$701$343$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $5,000,000, adding $2,017 every year, while hoping to spend $44,591 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: 71/23/6 Blend
70$5,000,000$5,000,000$5,000,000$5,000,000
71$5,512,081$5,247,081$5,169,581$5,899,113
72$6,026,868$5,456,743$5,295,317$6,364,519
73$6,592,670$5,675,184$5,423,771$6,868,011
74$7,214,642$5,902,788$5,554,987$7,417,836
75$7,898,464$6,139,954$5,689,008$8,018,541
76$8,650,397$6,387,101$5,825,879$8,675,125
77$9,477,334$6,644,666$5,965,643$9,393,092
78$10,386,875$6,913,106$6,108,344$10,178,500
79$11,387,388$7,192,900$6,254,026$11,038,015
80$12,488,096$7,484,548$6,402,731$11,978,977
81$13,699,162$7,788,570$6,554,502$13,009,466
82$15,031,780$8,105,514$6,709,381$14,138,376
83$16,498,287$8,435,950$6,867,412$15,375,499
84$18,112,277$8,780,475$7,028,634$16,731,618
85$19,888,724$9,139,714$7,193,088$18,218,603
86$21,844,133$9,514,319$7,360,816$19,849,527
87$23,996,687$9,904,972$7,531,855$21,638,785
88$26,366,421$10,312,388$7,706,244$23,602,227
89$28,975,413$10,737,312$7,884,021$25,757,311
90$31,847,990$11,180,526$8,065,221$28,123,260
91$35,010,959$11,642,845$8,249,879$30,721,248
92$38,493,856$12,125,124$8,438,029$33,574,594
93$42,329,229$12,628,255$8,629,703$36,708,981
94$46,552,945$13,153,174$8,824,932$40,152,700
95$51,204,522$13,700,856$9,023,745$43,936,908
96$56,327,511$14,272,326$9,226,167$48,095,929
97$61,969,898$14,868,651$9,432,225$52,667,568
98$68,184,564$15,490,951$9,641,941$57,693,472
99$75,029,778$16,140,396$9,855,335$63,219,515
100$82,569,751$16,818,212$10,072,424$69,296,235