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%11.9%
1 years$511,990$507,430$502,980$498,637$494,397$490,459
2 years$253,460$248,740$244,165$239,729$235,427$231,458
3 years$167,295$162,554$157,991$153,597$149,365$145,487
4 years$124,221$119,495$114,977$110,658$106,528$102,771
5 years$98,383$93,685$89,227$84,996$80,981$77,357
6 years$81,164$76,501$72,109$67,972$64,077$60,590
7 years$68,869$64,245$59,923$55,883$52,112$48,763
8 years$59,652$55,070$50,819$46,879$43,232$40,021
9 years$52,487$47,949$43,770$39,931$36,408$33,335
10 years$46,758$42,264$38,160$34,421$31,021$28,084
11 years$42,074$37,625$33,596$29,956$26,679$23,876
12 years$38,174$33,771$29,815$26,276$23,120$20,447
13 years$34,876$30,519$26,638$23,198$20,161$17,616
14 years$32,052$27,741$23,934$20,592$17,673$15,253
15 years$29,606$25,342$21,609$18,365$15,561$13,263
16 years$27,468$23,250$19,592$16,443$13,752$11,572
17 years$25,584$21,413$17,828$14,774$12,194$10,128
18 years$23,911$19,786$16,275$13,315$10,842$8,887
19 years$22,416$18,338$14,899$12,031$9,664$7,815
20 years$21,072$17,040$13,673$10,896$8,632$6,886
21 years$19,857$15,872$12,577$9,889$7,725$6,078
22 years$18,755$14,816$11,591$8,991$6,924$5,372
23 years$17,750$13,857$10,703$8,189$6,215$4,754
24 years$16,830$12,984$9,898$7,469$5,587$4,212
25 years$15,985$12,184$9,168$6,821$5,027$3,735
26 years$15,206$11,451$8,503$6,237$4,528$3,316
27 years$14,486$10,777$7,895$5,708$4,083$2,945
28 years$13,818$10,155$7,340$5,230$3,684$2,618
29 years$13,198$9,580$6,830$4,796$3,326$2,328
30 years$12,621$9,048$6,362$4,402$3,006$2,072
31 years$12,081$8,553$5,931$4,043$2,717$1,845
32 years$11,576$8,093$5,534$3,715$2,458$1,643
33 years$11,103$7,664$5,167$3,416$2,224$1,464
34 years$10,659$7,264$4,828$3,143$2,014$1,305
35 years$10,241$6,890$4,514$2,894$1,824$1,163
36 years$9,847$6,539$4,222$2,665$1,653$1,037
37 years$9,475$6,211$3,952$2,455$1,498$925
38 years$9,124$5,902$3,701$2,263$1,358$825
39 years$8,791$5,613$3,467$2,087$1,232$737
40 years$8,476$5,340$3,250$1,925$1,117$657
41 years$8,177$5,083$3,047$1,776$1,013$587
42 years$7,894$4,841$2,859$1,639$920$524
43 years$7,624$4,612$2,682$1,513$835$468
44 years$7,366$4,397$2,518$1,397$758$418
45 years$7,122$4,193$2,364$1,290$688$373
46 years$6,888$4,000$2,221$1,192$624$333
47 years$6,665$3,817$2,086$1,101$567$297
48 years$6,452$3,644$1,960$1,017$515$266
49 years$6,248$3,480$1,843$940$468$237
50 years$6,053$3,324$1,732$869$425$212

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 $6,598 every year, while hoping to spend $40,498 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: 72/5/23 Blend
70$6,200,000$6,200,000$6,200,000$6,200,000
71$6,839,206$6,510,606$6,414,506$7,292,172
72$7,493,715$6,786,536$6,586,302$7,870,966
73$8,213,627$7,074,629$6,762,496$8,499,280
74$9,005,570$7,375,439$6,943,193$9,186,486
75$9,876,847$7,689,545$7,128,499$9,938,436
76$10,835,505$8,017,551$7,318,523$10,761,571
77$11,890,409$8,360,094$7,513,376$11,662,987
78$13,051,329$8,717,836$7,713,172$12,650,495
79$14,329,027$9,091,473$7,918,026$13,732,700
80$15,735,364$9,481,731$8,128,056$14,919,080
81$17,283,407$9,889,373$8,343,382$16,220,070
82$18,987,557$10,315,195$8,564,128$17,647,167
83$20,863,680$10,760,031$8,790,418$19,213,034
84$22,929,257$11,224,754$9,022,379$20,931,619
85$25,203,555$11,710,280$9,260,142$22,818,285
86$27,707,799$12,217,566$9,503,838$24,889,958
87$30,465,381$12,747,613$9,753,603$27,165,280
88$33,502,075$13,301,471$10,009,574$29,664,790
89$36,846,282$13,880,239$10,271,890$32,411,115
90$40,529,299$14,485,066$10,540,694$35,429,179
91$44,585,611$15,117,158$10,816,132$38,746,444
92$49,053,220$15,777,776$11,098,349$42,393,162
93$53,974,002$16,468,241$11,387,497$46,402,665
94$59,394,100$17,189,934$11,683,728$50,811,674
95$65,364,363$17,944,305$11,987,197$55,660,647
96$71,940,822$18,732,871$12,298,063$60,994,159
97$79,185,223$19,557,219$12,616,485$66,861,323
98$87,165,606$20,419,013$12,942,628$73,316,251
99$95,956,948$21,319,994$13,276,656$80,418,564
100$105,641,871$22,261,988$13,618,738$88,233,953