Can I retire at age 71 with 6,500,000?

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 $6,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$536,764$531,983$527,318$522,765$518,319$507,854
2 years$265,725$260,776$255,980$251,329$246,819$236,321
3 years$175,390$170,420$165,636$161,029$156,592$146,389
4 years$130,232$125,277$120,540$116,012$111,683$101,854
5 years$103,144$98,218$93,544$89,109$84,899$75,472
6 years$85,091$80,203$75,598$71,261$67,178$58,162
7 years$72,201$67,354$62,822$58,588$54,634$46,032
8 years$62,538$57,735$53,278$49,148$45,324$37,133
9 years$55,027$50,269$45,888$41,863$38,169$30,384
10 years$49,021$44,309$40,007$36,086$32,522$25,135
11 years$44,110$39,446$35,221$31,406$27,970$20,972
12 years$40,021$35,405$31,258$27,547$24,238$17,619
13 years$36,563$31,995$27,927$24,320$21,136$14,885
14 years$33,602$29,083$25,092$21,589$18,528$12,633
15 years$31,039$26,568$22,655$19,253$16,313$10,762
16 years$28,797$24,375$20,540$17,239$14,418$9,196
17 years$26,822$22,449$18,691$15,489$12,784$7,880
18 years$25,068$20,744$17,062$13,959$11,367$6,766
19 years$23,500$19,225$15,620$12,613$10,132$5,821
20 years$22,091$17,865$14,335$11,424$9,050$5,017
21 years$20,818$16,640$13,185$10,368$8,098$4,329
22 years$19,662$15,533$12,152$9,427$7,259$3,740
23 years$18,609$14,528$11,221$8,585$6,516$3,234
24 years$17,644$13,612$10,377$7,830$5,857$2,799
25 years$16,758$12,774$9,611$7,151$5,270$2,424
26 years$15,941$12,005$8,914$6,538$4,747$2,101
27 years$15,187$11,299$8,277$5,985$4,280$1,822
28 years$14,487$10,647$7,695$5,483$3,862$1,581
29 years$13,837$10,044$7,161$5,028$3,487$1,372
30 years$13,231$9,485$6,670$4,615$3,151$1,192
31 years$12,666$8,967$6,218$4,238$2,849$1,035
32 years$12,137$8,484$5,802$3,895$2,577$899
33 years$11,641$8,035$5,417$3,582$2,332$781
34 years$11,175$7,615$5,061$3,296$2,111$679
35 years$10,736$7,223$4,732$3,034$1,912$590
36 years$10,324$6,856$4,427$2,794$1,733$513
37 years$9,934$6,511$4,143$2,574$1,570$446
38 years$9,565$6,188$3,880$2,373$1,424$388
39 years$9,217$5,884$3,635$2,188$1,291$338
40 years$8,887$5,598$3,407$2,018$1,171$294
41 years$8,573$5,329$3,195$1,862$1,062$255
42 years$8,275$5,075$2,997$1,718$964$222
43 years$7,992$4,836$2,812$1,586$875$193
44 years$7,723$4,609$2,640$1,465$794$168
45 years$7,466$4,395$2,479$1,353$721$146
46 years$7,221$4,193$2,328$1,249$655$127
47 years$6,988$4,002$2,187$1,154$594$111
48 years$6,764$3,820$2,055$1,067$540$96
49 years$6,551$3,648$1,932$986$490$84
50 years$6,346$3,485$1,816$911$445$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,500,000, adding $4,115 every year, while hoping to spend $48,194 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: 44/42/14 Blend
70$6,500,000$6,500,000$6,500,000$6,500,000
71$7,167,245$6,822,745$6,721,995$7,453,526
72$7,847,026$7,105,781$6,895,903$7,936,896
73$8,594,529$7,401,071$7,074,023$8,455,330
74$9,416,611$7,709,164$7,256,443$9,016,192
75$10,320,828$8,030,635$7,443,256$9,623,413
76$11,315,501$8,366,085$7,634,554$10,281,306
77$12,409,803$8,716,144$7,830,432$10,994,610
78$13,613,837$9,081,470$8,030,986$11,768,527
79$14,938,737$9,462,750$8,236,313$12,608,775
80$16,396,770$9,860,707$8,446,511$13,521,632
81$18,001,453$10,276,093$8,661,681$14,514,000
82$19,767,677$10,709,698$8,881,924$15,593,461
83$21,711,854$11,162,347$9,107,342$16,768,352
84$23,852,065$11,634,904$9,338,040$18,047,835
85$26,208,234$12,128,273$9,574,123$19,441,986
86$28,802,315$12,643,399$9,815,697$20,961,881
87$31,658,498$13,181,273$10,062,870$22,619,703
88$34,803,441$13,742,931$10,315,751$24,428,847
89$38,266,514$14,329,457$10,574,451$26,404,051
90$42,080,084$14,941,986$10,839,081$28,561,524
91$46,279,815$15,581,706$11,109,753$30,919,099
92$50,905,008$16,249,860$11,386,581$33,496,397
93$55,998,966$16,947,751$11,669,679$36,315,004
94$61,609,410$17,676,740$11,959,163$39,398,677
95$67,788,923$18,438,254$12,255,148$42,773,557
96$74,595,451$19,233,786$12,557,753$46,468,417
97$82,092,844$20,064,899$12,867,095$50,514,922
98$90,351,464$20,933,229$13,183,293$54,947,927
99$99,448,845$21,840,489$13,506,465$59,805,800
100$109,470,428$22,788,473$13,836,732$65,130,776