Can I retire at age 71 with 5,600,000?

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 $5,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$462,443$458,324$454,305$450,382$446,552$431,395
2 years$228,932$224,668$220,536$216,530$212,644$197,525
3 years$151,105$146,823$142,702$138,733$134,910$120,305
4 years$112,200$107,931$103,850$99,949$96,219$82,238
5 years$88,862$84,619$80,592$76,771$73,144$59,826
6 years$73,309$69,098$65,130$61,394$57,876$45,231
7 years$62,204$58,028$54,124$50,475$47,069$35,094
8 years$53,879$49,741$45,901$42,343$39,048$27,735
9 years$47,408$43,308$39,535$36,066$32,884$22,218
10 years$42,233$38,174$34,467$31,090$28,019$17,983
11 years$38,003$33,984$30,344$27,057$24,097$14,672
12 years$34,480$30,502$26,930$23,733$20,882$12,046
13 years$31,501$27,565$24,060$20,953$18,210$9,939
14 years$28,950$25,056$21,618$18,599$15,963$8,234
15 years$26,741$22,889$19,518$16,587$14,055$6,844
16 years$24,810$21,000$17,696$14,852$12,422$5,704
17 years$23,108$19,341$16,103$13,345$11,014$4,765
18 years$21,597$17,872$14,700$12,026$9,793$3,987
19 years$20,247$16,563$13,457$10,867$8,729$3,341
20 years$19,033$15,391$12,350$9,842$7,797$2,804
21 years$17,936$14,336$11,360$8,932$6,977$2,355
22 years$16,940$13,383$10,470$8,121$6,254$1,980
23 years$16,032$12,516$9,667$7,396$5,614$1,666
24 years$15,201$11,727$8,940$6,746$5,046$1,402
25 years$14,438$11,005$8,280$6,161$4,541$1,181
26 years$13,734$10,343$7,680$5,633$4,090$995
27 years$13,084$9,734$7,131$5,156$3,687$839
28 years$12,481$9,172$6,629$4,724$3,327$707
29 years$11,921$8,653$6,169$4,332$3,004$597
30 years$11,399$8,172$5,746$3,976$2,715$503
31 years$10,912$7,725$5,357$3,651$2,454$425
32 years$10,456$7,310$4,998$3,356$2,220$358
33 years$10,029$6,922$4,667$3,086$2,009$303
34 years$9,627$6,561$4,361$2,839$1,819$255
35 years$9,250$6,223$4,077$2,614$1,648$216
36 years$8,894$5,906$3,814$2,407$1,493$182
37 years$8,558$5,610$3,570$2,218$1,353$154
38 years$8,241$5,331$3,343$2,044$1,227$130
39 years$7,941$5,069$3,132$1,885$1,112$110
40 years$7,656$4,823$2,936$1,739$1,009$92
41 years$7,386$4,591$2,753$1,604$915$78
42 years$7,130$4,372$2,582$1,480$831$66
43 years$6,886$4,166$2,423$1,367$754$56
44 years$6,654$3,971$2,274$1,262$684$47
45 years$6,432$3,787$2,135$1,165$621$40
46 years$6,221$3,613$2,006$1,076$564$34
47 years$6,020$3,447$1,884$994$512$28
48 years$5,828$3,291$1,771$919$465$24
49 years$5,644$3,143$1,664$849$422$20
50 years$5,468$3,002$1,565$785$384$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $5,600,000, adding $2,926 every year, while hoping to spend $38,593 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: 39/35/26 Blend
70$5,600,000$5,600,000$5,600,000$5,600,000
71$6,174,218$5,877,418$5,790,618$6,367,248
72$6,762,926$6,124,349$5,943,541$6,754,909
73$7,410,388$6,382,086$6,100,294$7,170,010
74$8,122,557$6,651,118$6,260,963$7,618,122
75$8,905,992$6,931,956$6,425,639$8,102,276
76$9,767,917$7,225,136$6,594,412$8,625,799
77$10,716,293$7,531,217$6,767,374$9,192,343
78$11,759,894$7,850,786$6,944,620$9,805,919
79$12,908,385$8,184,455$7,126,246$10,470,931
80$14,172,414$8,532,867$7,312,349$11,192,218
81$15,563,716$8,896,694$7,503,029$11,975,097
82$17,095,222$9,276,638$7,698,387$12,825,411
83$18,781,177$9,673,436$7,898,525$13,749,580
84$20,637,280$10,087,858$8,103,549$14,754,662
85$22,680,829$10,520,709$8,313,564$15,848,417
86$24,930,884$10,972,834$8,528,679$17,039,374
87$27,408,448$11,445,117$8,749,004$18,336,914
88$30,136,664$11,938,482$8,974,650$19,751,355
89$33,141,034$12,453,897$9,205,730$21,294,040
90$36,449,657$12,992,377$9,442,360$22,977,452
91$40,093,500$13,554,981$9,684,657$24,815,319
92$44,106,683$14,142,821$9,932,739$26,822,745
93$48,526,806$14,757,060$10,186,727$29,016,350
94$53,395,300$15,398,916$10,446,742$31,414,421
95$58,757,821$16,069,664$10,712,909$34,037,080
96$64,664,680$16,770,638$10,985,352$36,906,474
97$71,171,316$17,503,238$11,264,200$40,046,978
98$78,338,820$18,268,927$11,549,581$43,485,419
99$86,234,513$19,069,237$11,841,624$47,251,329
100$94,932,577$19,905,774$12,140,463$51,377,215