Can I retire at age 71 with 6,700,000?

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$553,280$548,351$543,543$538,850$534,267$529,128
2 years$273,901$268,800$263,856$259,063$254,413$249,236
3 years$180,787$175,664$170,732$165,984$161,410$156,356
4 years$134,239$129,131$124,249$119,582$115,119$110,226
5 years$106,317$101,241$96,423$91,850$87,512$82,795
6 years$87,709$82,671$77,924$73,454$69,245$64,710
7 years$74,423$69,427$64,755$60,390$56,315$51,964
8 years$64,463$59,511$54,917$50,660$46,718$42,551
9 years$56,720$51,815$47,300$43,151$39,344$35,359
10 years$50,529$45,673$41,238$37,197$33,523$29,717
11 years$45,467$40,660$36,305$32,372$28,831$25,202
12 years$41,252$36,494$32,220$28,395$24,984$21,529
13 years$37,689$32,980$28,786$25,068$21,787$18,500
14 years$34,636$29,978$25,864$22,253$19,098$15,977
15 years$31,994$27,385$23,352$19,846$16,815$13,854
16 years$29,684$25,125$21,172$17,770$14,862$12,056
17 years$27,647$23,140$19,266$15,966$13,177$10,522
18 years$25,839$21,382$17,587$14,388$11,717$9,206
19 years$24,224$19,817$16,100$13,001$10,443$8,073
20 years$22,771$18,415$14,776$11,775$9,328$7,092
21 years$21,459$17,152$13,591$10,687$8,348$6,241
22 years$20,267$16,011$12,526$9,717$7,482$5,500
23 years$19,181$14,975$11,566$8,849$6,717$4,852
24 years$18,187$14,031$10,696$8,071$6,037$4,286
25 years$17,274$13,167$9,907$7,371$5,432$3,789
26 years$16,432$12,375$9,188$6,739$4,893$3,353
27 years$15,654$11,646$8,532$6,169$4,412$2,969
28 years$14,933$10,974$7,932$5,652$3,981$2,631
29 years$14,263$10,353$7,381$5,183$3,595$2,332
30 years$13,638$9,777$6,875$4,757$3,248$2,069
31 years$13,055$9,243$6,410$4,369$2,936$1,836
32 years$12,510$8,745$5,980$4,015$2,656$1,629
33 years$11,999$8,282$5,584$3,692$2,404$1,447
34 years$11,519$7,850$5,217$3,397$2,176$1,285
35 years$11,067$7,445$4,878$3,127$1,971$1,142
36 years$10,641$7,067$4,563$2,880$1,786$1,015
37 years$10,239$6,712$4,271$2,654$1,619$902
38 years$9,860$6,378$3,999$2,446$1,468$802
39 years$9,500$6,065$3,747$2,255$1,331$713
40 years$9,160$5,771$3,512$2,080$1,207$635
41 years$8,837$5,493$3,293$1,919$1,095$564
42 years$8,530$5,231$3,089$1,771$994$502
43 years$8,238$4,984$2,899$1,635$902$447
44 years$7,961$4,751$2,721$1,510$819$398
45 years$7,696$4,531$2,555$1,394$743$354
46 years$7,444$4,322$2,400$1,288$675$315
47 years$7,203$4,125$2,254$1,190$613$280
48 years$6,972$3,938$2,119$1,099$556$249
49 years$6,752$3,760$1,991$1,016$505$222
50 years$6,542$3,592$1,872$939$459$198

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,700,000, adding $6,054 every year, while hoping to spend $24,787 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: 58/18/24 Blend
70$6,700,000$6,700,000$6,700,000$6,700,000
71$7,389,645$7,034,545$6,930,695$7,770,043
72$8,117,015$7,352,864$7,136,500$8,348,582
73$8,917,747$7,685,951$7,348,369$8,975,886
74$9,799,296$8,034,501$7,566,478$9,659,315
75$10,769,880$8,399,247$7,791,010$10,404,305
76$11,838,551$8,780,954$8,022,153$11,216,832
77$13,015,286$9,180,423$8,260,098$12,103,474
78$14,311,078$9,598,497$8,505,044$13,071,463
79$15,738,040$10,036,056$8,757,195$14,128,760
80$17,309,520$10,494,022$9,016,761$15,284,121
81$19,040,227$10,973,365$9,283,958$16,547,186
82$20,946,367$11,475,097$9,559,008$17,928,558
83$23,045,801$12,000,281$9,842,139$19,439,911
84$25,358,208$12,550,030$10,133,586$21,094,093
85$27,905,276$13,125,512$10,433,592$22,905,244
86$30,710,901$13,727,949$10,742,404$24,888,932
87$33,801,418$14,358,624$11,060,279$27,062,294
88$37,205,844$15,018,878$11,387,481$29,444,196
89$40,956,158$15,710,120$11,724,278$32,055,409
90$45,087,596$16,433,826$12,070,952$34,918,805
91$49,638,988$17,191,542$12,427,786$38,059,565
92$54,653,125$17,984,887$12,795,078$41,505,417
93$60,177,160$18,815,563$13,173,128$45,286,896
94$66,263,052$19,685,347$13,562,250$49,437,627
95$72,968,062$20,596,108$13,962,764$53,994,639
96$80,355,288$21,549,801$14,375,000$58,998,715
97$88,494,262$22,548,475$14,799,297$64,494,766
98$97,461,607$23,594,281$15,236,004$70,532,262
99$107,341,761$24,689,471$15,685,480$77,165,684
100$118,227,771$25,836,406$16,148,095$84,455,044