Can I retire at age 71 with 5,900,000?

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 $5,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$487,216$482,877$478,642$474,510$470,474$466,143
2 years$241,196$236,704$232,351$228,130$224,035$219,672
3 years$159,200$154,689$150,346$146,165$142,137$137,876
4 years$118,210$113,713$109,414$105,304$101,373$97,248
5 years$93,623$89,152$84,909$80,883$77,063$73,084
6 years$77,236$72,799$68,619$64,683$60,977$57,151
7 years$65,536$61,137$57,023$53,179$49,591$45,919
8 years$56,765$52,406$48,360$44,611$41,140$37,623
9 years$49,947$45,628$41,653$37,999$34,646$31,282
10 years$44,496$40,219$36,314$32,755$29,520$26,307
11 years$40,038$35,805$31,970$28,507$25,388$22,324
12 years$36,327$32,136$28,373$25,004$22,001$19,082
13 years$33,188$29,042$25,349$22,075$19,185$16,408
14 years$30,501$26,398$22,776$19,596$16,818$14,179
15 years$28,174$24,115$20,564$17,476$14,808$12,304
16 years$26,139$22,125$18,644$15,648$13,087$10,714
17 years$24,346$20,377$16,965$14,059$11,604$9,357
18 years$22,754$18,829$15,487$12,670$10,318$8,193
19 years$21,331$17,450$14,178$11,449$9,196$7,190
20 years$20,052$16,216$13,012$10,369$8,214$6,321
21 years$18,897$15,104$11,968$9,411$7,351$5,567
22 years$17,847$14,099$11,031$8,556$6,589$4,909
23 years$16,891$13,187$10,185$7,792$5,915$4,335
24 years$16,015$12,355$9,419$7,107$5,316$3,831
25 years$15,211$11,595$8,724$6,491$4,784$3,390
26 years$14,470$10,897$8,091$5,935$4,309$3,002
27 years$13,785$10,256$7,513$5,432$3,885$2,660
28 years$13,150$9,664$6,985$4,977$3,506$2,359
29 years$12,560$9,117$6,500$4,564$3,165$2,093
30 years$12,010$8,610$6,054$4,189$2,860$1,858
31 years$11,497$8,139$5,644$3,847$2,586$1,650
32 years$11,016$7,701$5,266$3,535$2,339$1,466
33 years$10,566$7,293$4,917$3,251$2,117$1,303
34 years$10,143$6,912$4,594$2,991$1,917$1,158
35 years$9,745$6,556$4,295$2,754$1,736$1,030
36 years$9,371$6,223$4,018$2,536$1,573$916
37 years$9,017$5,910$3,761$2,337$1,426$815
38 years$8,682$5,617$3,522$2,154$1,292$726
39 years$8,366$5,341$3,300$1,986$1,172$646
40 years$8,066$5,082$3,093$1,832$1,063$575
41 years$7,782$4,837$2,900$1,690$964$512
42 years$7,512$4,607$2,720$1,560$875$456
43 years$7,255$4,389$2,553$1,440$794$406
44 years$7,010$4,184$2,396$1,329$721$361
45 years$6,777$3,990$2,250$1,228$654$322
46 years$6,555$3,806$2,113$1,134$594$287
47 years$6,343$3,632$1,985$1,048$540$255
48 years$6,140$3,467$1,866$968$490$227
49 years$5,946$3,311$1,754$895$445$203
50 years$5,760$3,163$1,649$827$404$181

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $5,900,000, adding $6,406 every year, while hoping to spend $28,532 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: 69/8/23 Blend
70$5,900,000$5,900,000$5,900,000$5,900,000
71$6,508,408$6,195,708$6,104,258$6,919,278
72$7,141,908$6,468,940$6,278,393$7,468,332
73$7,839,068$6,754,604$6,457,405$8,065,042
74$8,606,352$7,053,279$6,641,427$8,717,359
75$9,450,882$7,365,571$6,830,597$9,430,780
76$10,380,505$7,692,117$7,025,055$10,211,360
77$11,403,866$8,033,581$7,224,944$11,065,762
78$12,530,494$8,390,659$7,430,413$12,001,326
79$13,770,886$8,764,083$7,641,613$13,026,131
80$15,136,610$9,154,616$7,858,700$14,149,074
81$16,640,412$9,563,060$8,081,835$15,379,952
82$18,296,337$9,990,254$8,311,180$16,729,555
83$20,119,863$10,437,076$8,546,904$18,209,764
84$22,128,044$10,904,447$8,789,179$19,833,667
85$24,339,671$11,393,332$9,038,184$21,615,675
86$26,775,453$11,904,741$9,294,099$23,571,662
87$29,458,209$12,439,733$9,557,111$25,719,113
88$32,413,084$12,999,417$9,827,411$28,077,286
89$35,667,785$13,584,955$10,105,196$30,667,393
90$39,252,845$14,197,564$10,390,666$33,512,802
91$43,201,910$14,838,520$10,684,028$36,639,252
92$47,552,056$15,509,158$10,985,495$40,075,097
93$52,344,139$16,210,880$11,295,282$43,851,573
94$57,623,179$16,945,152$11,613,612$48,003,089
95$63,438,791$17,713,511$11,940,715$52,567,554
96$69,845,643$18,517,569$12,276,825$57,586,727
97$76,903,981$19,359,012$12,622,181$63,106,618
98$84,680,193$20,239,609$12,977,030$69,177,914
99$93,247,436$21,161,214$13,341,624$75,856,457
100$102,686,330$22,125,769$13,716,224$83,203,774