Can I retire at age 71 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$511,990$507,430$502,980$498,637$494,397$479,724
2 years$253,460$248,740$244,165$239,729$235,427$220,766
3 years$167,295$162,554$157,991$153,597$149,365$135,174
4 years$124,221$119,495$114,977$110,658$106,528$92,918
5 years$98,383$93,685$89,227$84,996$80,981$67,987
6 years$81,164$76,501$72,109$67,972$64,077$51,712
7 years$68,869$64,245$59,923$55,883$52,112$40,375
8 years$59,652$55,070$50,819$46,879$43,232$32,116
9 years$52,487$47,949$43,770$39,931$36,408$25,901
10 years$46,758$42,264$38,160$34,421$31,021$21,109
11 years$42,074$37,625$33,596$29,956$26,679$17,345
12 years$38,174$33,771$29,815$26,276$23,120$14,345
13 years$34,876$30,519$26,638$23,198$20,161$11,925
14 years$32,052$27,741$23,934$20,592$17,673$9,956
15 years$29,606$25,342$21,609$18,365$15,561$8,340
16 years$27,468$23,250$19,592$16,443$13,752$7,006
17 years$25,584$21,413$17,828$14,774$12,194$5,899
18 years$23,911$19,786$16,275$13,315$10,842$4,977
19 years$22,416$18,338$14,899$12,031$9,664$4,206
20 years$21,072$17,040$13,673$10,896$8,632$3,559
21 years$19,857$15,872$12,577$9,889$7,725$3,015
22 years$18,755$14,816$11,591$8,991$6,924$2,557
23 years$17,750$13,857$10,703$8,189$6,215$2,170
24 years$16,830$12,984$9,898$7,469$5,587$1,843
25 years$15,985$12,184$9,168$6,821$5,027$1,566
26 years$15,206$11,451$8,503$6,237$4,528$1,331
27 years$14,486$10,777$7,895$5,708$4,083$1,132
28 years$13,818$10,155$7,340$5,230$3,684$963
29 years$13,198$9,580$6,830$4,796$3,326$820
30 years$12,621$9,048$6,362$4,402$3,006$698
31 years$12,081$8,553$5,931$4,043$2,717$594
32 years$11,576$8,093$5,534$3,715$2,458$506
33 years$11,103$7,664$5,167$3,416$2,224$431
34 years$10,659$7,264$4,828$3,143$2,014$367
35 years$10,241$6,890$4,514$2,894$1,824$313
36 years$9,847$6,539$4,222$2,665$1,653$267
37 years$9,475$6,211$3,952$2,455$1,498$227
38 years$9,124$5,902$3,701$2,263$1,358$194
39 years$8,791$5,613$3,467$2,087$1,232$165
40 years$8,476$5,340$3,250$1,925$1,117$141
41 years$8,177$5,083$3,047$1,776$1,013$120
42 years$7,894$4,841$2,859$1,639$920$102
43 years$7,624$4,612$2,682$1,513$835$87
44 years$7,366$4,397$2,518$1,397$758$74
45 years$7,122$4,193$2,364$1,290$688$63
46 years$6,888$4,000$2,221$1,192$624$54
47 years$6,665$3,817$2,086$1,101$567$46
48 years$6,452$3,644$1,960$1,017$515$39
49 years$6,248$3,480$1,843$940$468$33
50 years$6,053$3,324$1,732$869$425$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,200,000, adding $4,237 every year, while hoping to spend $32,751 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: 74/16/10 Blend
70$6,200,000$6,200,000$6,200,000$6,200,000
71$6,836,770$6,508,170$6,412,070$7,329,890
72$7,499,274$6,792,224$6,592,028$7,939,821
73$8,228,256$7,089,098$6,776,916$8,603,322
74$9,030,461$7,399,388$6,966,866$9,329,313
75$9,913,323$7,723,713$7,162,012$10,123,974
76$10,885,033$8,062,726$7,362,490$10,994,107
77$11,954,614$8,417,107$7,568,441$11,947,201
78$13,132,011$8,787,571$7,780,010$12,991,501
79$14,428,180$9,174,866$7,997,345$14,136,080
80$15,855,195$9,579,775$8,220,596$15,390,933
81$17,426,358$10,003,118$8,449,919$16,767,062
82$19,156,329$10,445,753$8,685,474$18,276,581
83$21,061,260$10,908,580$8,927,423$19,932,830
84$23,158,950$11,392,542$9,175,933$21,750,500
85$25,469,012$11,898,625$9,431,176$23,745,767
86$28,013,058$12,427,864$9,693,326$25,936,449
87$30,814,901$12,981,341$9,962,564$28,342,164
88$33,900,785$13,560,191$10,239,074$30,984,524
89$37,299,626$14,165,601$10,523,044$33,887,327
90$41,043,289$14,798,817$10,814,667$37,076,789
91$45,166,887$15,461,141$11,114,141$40,581,782
92$49,709,114$16,153,941$11,421,669$44,434,111
93$54,712,607$16,878,648$11,737,458$48,668,808
94$60,224,350$17,636,759$12,061,720$53,324,461
95$66,296,120$18,429,846$12,394,674$58,443,578
96$72,984,970$19,259,554$12,736,541$64,072,986
97$80,353,772$20,127,608$13,087,551$70,264,268
98$88,471,808$21,035,812$13,447,935$77,074,250
99$97,415,426$21,986,060$13,817,934$84,565,533
100$107,268,757$22,980,335$14,197,792$92,807,084