Can I retire at age 71 with 6,100,000?

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 $6,100,000?

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$503,732$499,245$494,868$490,595$486,423$481,945
2 years$249,372$244,728$240,227$235,863$231,630$227,118
3 years$164,597$159,933$155,443$151,120$146,955$142,550
4 years$122,217$117,567$113,123$108,873$104,810$100,544
5 years$96,796$92,174$87,788$83,625$79,675$75,562
6 years$79,855$75,267$70,946$66,876$63,044$59,089
7 years$67,758$63,209$58,956$54,982$51,272$47,476
8 years$58,690$54,182$49,999$46,123$42,535$38,898
9 years$51,640$47,175$43,064$39,287$35,820$32,342
10 years$46,004$41,583$37,545$33,866$30,521$27,199
11 years$41,396$37,019$33,054$29,473$26,249$23,080
12 years$37,558$33,226$29,334$25,852$22,747$19,729
13 years$34,313$30,026$26,208$22,823$19,836$16,965
14 years$31,535$27,293$23,548$20,260$17,388$14,660
15 years$29,129$24,933$21,261$18,068$15,310$12,721
16 years$27,025$22,875$19,276$16,178$13,531$11,077
17 years$25,171$21,067$17,540$14,536$11,997$9,675
18 years$23,525$19,467$16,012$13,100$10,667$8,471
19 years$22,054$18,042$14,658$11,837$9,508$7,434
20 years$20,732$16,766$13,453$10,721$8,493$6,535
21 years$19,537$15,616$12,374$9,730$7,600$5,755
22 years$18,452$14,577$11,405$8,846$6,812$5,075
23 years$17,463$13,634$10,530$8,057$6,115$4,481
24 years$16,558$12,774$9,739$7,348$5,496$3,961
25 years$15,727$11,988$9,020$6,711$4,946$3,505
26 years$14,960$11,267$8,365$6,136$4,455$3,104
27 years$14,252$10,603$7,768$5,616$4,017$2,750
28 years$13,596$9,991$7,221$5,146$3,624$2,439
29 years$12,985$9,426$6,720$4,719$3,273$2,164
30 years$12,417$8,902$6,260$4,331$2,957$1,921
31 years$11,886$8,415$5,836$3,977$2,673$1,706
32 years$11,390$7,962$5,445$3,655$2,418$1,516
33 years$10,924$7,540$5,084$3,361$2,189$1,347
34 years$10,487$7,147$4,750$3,093$1,982$1,198
35 years$10,076$6,778$4,441$2,847$1,795$1,065
36 years$9,688$6,434$4,154$2,622$1,626$947
37 years$9,322$6,111$3,888$2,416$1,474$843
38 years$8,977$5,807$3,641$2,227$1,336$750
39 years$8,650$5,522$3,412$2,053$1,212$668
40 years$8,340$5,254$3,198$1,894$1,099$594
41 years$8,046$5,001$2,998$1,747$997$529
42 years$7,766$4,763$2,813$1,613$905$471
43 years$7,501$4,538$2,639$1,489$821$420
44 years$7,248$4,326$2,477$1,374$745$374
45 years$7,007$4,125$2,326$1,269$677$333
46 years$6,777$3,935$2,185$1,172$614$296
47 years$6,558$3,755$2,053$1,083$558$264
48 years$6,348$3,585$1,929$1,001$507$235
49 years$6,148$3,423$1,813$925$460$210
50 years$5,956$3,270$1,704$855$418$187

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,100,000, adding $3,320 every year, while hoping to spend $24,271 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: 67/18/15 Blend
70$6,100,000$6,100,000$6,100,000$6,100,000
71$6,725,625$6,402,325$6,307,775$7,152,266
72$7,385,814$6,690,214$6,493,261$7,725,228
73$8,112,530$6,991,397$6,684,147$8,348,320
74$8,912,531$7,306,499$6,880,590$9,029,013
75$9,793,267$7,636,175$7,082,747$9,772,955
76$10,762,945$7,981,113$7,290,784$10,586,363
77$11,830,610$8,342,031$7,504,870$11,476,075
78$13,006,226$8,719,685$7,725,177$12,449,620
79$14,300,775$9,114,864$7,951,885$13,515,281
80$15,726,358$9,528,396$8,185,177$14,682,178
81$17,296,308$9,961,149$8,425,241$15,960,349
82$19,025,317$10,414,031$8,672,272$17,360,843
83$20,929,576$10,887,995$8,926,470$18,895,825
84$23,026,925$11,384,039$9,188,039$20,578,689
85$25,337,023$11,903,209$9,457,191$22,424,179
86$27,881,534$12,446,601$9,734,141$24,448,530
87$30,684,329$13,015,363$10,019,114$26,669,621
88$33,771,715$13,610,699$10,312,338$29,107,136
89$37,172,677$14,233,871$10,614,048$31,782,752
90$40,919,159$14,886,200$10,924,488$34,720,342
91$45,046,361$15,569,071$11,243,906$37,946,195
92$49,593,071$16,283,937$11,572,558$41,489,264
93$54,602,033$17,032,319$11,910,708$45,381,436
94$60,120,349$17,815,811$12,258,625$49,657,832
95$66,199,924$18,636,085$12,616,588$54,357,135
96$72,897,955$19,494,892$12,984,883$59,521,950
97$80,277,473$20,394,068$13,363,803$65,199,209
98$88,407,935$21,335,538$13,753,650$71,440,604
99$97,365,883$22,321,317$14,154,736$78,303,078
100$107,235,662$23,353,521$14,567,379$85,849,356