Can I retire at age 71 with 6,000,000?

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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$495,474$491,061$486,755$482,552$478,448$469,749
2 years$245,284$240,716$236,289$231,996$227,833$219,100
3 years$161,899$157,311$152,895$148,642$144,546$136,051
4 years$120,214$115,640$111,268$107,088$103,092$94,900
5 years$95,210$90,663$86,349$82,254$78,369$70,504
6 years$78,545$74,033$69,782$65,779$62,010$54,482
7 years$66,647$62,173$57,990$54,081$50,431$43,240
8 years$57,728$53,294$49,180$45,367$41,837$34,983
9 years$50,794$46,402$42,359$38,643$35,233$28,710
10 years$45,250$40,901$36,929$33,310$30,020$23,824
11 years$40,717$36,412$32,512$28,990$25,819$19,941
12 years$36,942$32,681$28,853$25,428$22,374$16,807
13 years$33,751$29,534$25,779$22,449$19,510$14,246
14 years$31,018$26,846$23,162$19,928$17,103$12,131
15 years$28,651$24,524$20,912$17,772$15,059$10,370
16 years$26,582$22,500$18,960$15,913$13,309$8,893
17 years$24,759$20,722$17,253$14,298$11,801$7,647
18 years$23,140$19,148$15,750$12,885$10,492$6,591
19 years$21,693$17,746$14,418$11,643$9,352$5,691
20 years$20,392$16,491$13,232$10,545$8,354$4,923
21 years$19,217$15,360$12,171$9,570$7,475$4,264
22 years$18,150$14,338$11,218$8,701$6,701$3,698
23 years$17,177$13,410$10,357$7,925$6,015$3,210
24 years$16,287$12,565$9,579$7,228$5,406$2,790
25 years$15,469$11,791$8,872$6,601$4,865$2,426
26 years$14,715$11,082$8,228$6,035$4,382$2,111
27 years$14,018$10,429$7,641$5,524$3,951$1,838
28 years$13,373$9,828$7,103$5,061$3,565$1,601
29 years$12,773$9,271$6,610$4,641$3,219$1,396
30 years$12,213$8,756$6,157$4,260$2,909$1,217
31 years$11,691$8,277$5,740$3,912$2,630$1,061
32 years$11,203$7,832$5,355$3,595$2,379$926
33 years$10,745$7,417$5,000$3,306$2,153$808
34 years$10,315$7,029$4,672$3,042$1,949$705
35 years$9,911$6,667$4,368$2,800$1,765$616
36 years$9,529$6,328$4,086$2,579$1,599$537
37 years$9,170$6,010$3,825$2,376$1,450$469
38 years$8,830$5,712$3,582$2,190$1,314$410
39 years$8,508$5,432$3,356$2,020$1,192$358
40 years$8,203$5,168$3,145$1,863$1,081$313
41 years$7,914$4,919$2,949$1,719$981$273
42 years$7,639$4,685$2,766$1,586$890$239
43 years$7,378$4,464$2,596$1,464$808$209
44 years$7,129$4,255$2,437$1,352$733$182
45 years$6,892$4,057$2,288$1,248$666$159
46 years$6,666$3,871$2,149$1,153$604$139
47 years$6,450$3,694$2,019$1,065$549$122
48 years$6,244$3,526$1,897$985$498$106
49 years$6,047$3,367$1,783$910$453$93
50 years$5,858$3,217$1,677$841$411$81

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,000,000, adding $2,593 every year, while hoping to spend $38,869 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: 74/21/5 Blend
70$6,000,000$6,000,000$6,000,000$6,000,000
71$6,614,675$6,296,675$6,203,675$7,101,570
72$7,248,015$6,563,855$6,370,141$7,689,357
73$7,944,654$6,842,825$6,540,882$8,327,843
74$8,711,006$7,134,121$6,715,999$9,026,123
75$9,554,139$7,438,304$6,895,596$9,790,092
76$10,481,843$7,755,962$7,079,780$10,626,236
77$11,502,697$8,087,711$7,268,659$11,541,692
78$12,626,158$8,434,194$7,462,344$12,544,321
79$13,862,642$8,796,086$7,660,949$13,642,770
80$15,223,629$9,174,092$7,864,589$14,846,563
81$16,721,767$9,568,950$8,073,380$16,166,184
82$18,370,993$9,981,434$8,287,444$17,613,173
83$20,186,664$10,412,354$8,506,903$19,200,239
84$22,185,701$10,862,557$8,731,881$20,941,375
85$24,386,749$11,332,929$8,962,506$22,851,987
86$26,810,355$11,824,400$9,198,908$24,949,042
87$29,479,158$12,337,942$9,441,217$27,251,222
88$32,418,104$12,874,573$9,689,570$29,779,103
89$35,654,682$13,435,359$9,944,103$32,555,344
90$39,219,185$14,021,416$10,204,955$35,604,900
91$43,144,990$14,633,914$10,472,270$38,955,255
92$47,468,879$15,274,076$10,746,191$42,636,682
93$52,231,383$15,943,183$11,026,866$46,682,521
94$57,477,163$16,642,578$11,314,445$51,129,499
95$63,255,435$17,373,666$11,609,080$56,018,066
96$69,620,432$18,137,919$11,910,927$61,392,782
97$76,631,917$18,936,878$12,220,144$67,302,729
98$84,355,745$19,772,157$12,536,891$73,801,975
99$92,864,485$20,645,447$12,861,331$80,950,080
100$102,238,107$21,558,518$13,193,630$88,812,657