Can I retire at age 71 with 6,800,000?

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 $6,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$561,538$556,536$551,656$546,893$542,242$525,305
2 years$277,989$272,812$267,794$262,929$258,210$241,298
3 years$183,485$178,285$173,280$168,461$163,819$147,461
4 years$136,242$131,059$126,104$121,367$116,837$101,159
5 years$107,904$102,752$97,862$93,221$88,818$73,862
6 years$89,018$83,904$79,087$74,550$70,279$56,057
7 years$75,534$70,463$65,722$61,292$57,155$43,668
8 years$65,425$60,400$55,737$51,416$47,416$34,654
9 years$57,566$52,589$48,006$43,795$39,931$27,880
10 years$51,283$46,354$41,853$37,752$34,023$22,665
11 years$46,146$41,267$36,847$32,855$29,261$18,576
12 years$41,868$37,039$32,701$28,819$25,357$15,322
13 years$38,251$33,472$29,216$25,442$22,112$12,703
14 years$35,153$30,425$26,250$22,585$19,383$10,575
15 years$32,471$27,794$23,701$20,142$17,066$8,834
16 years$30,127$25,500$21,488$18,035$15,083$7,400
17 years$28,060$23,485$19,553$16,204$13,374$6,213
18 years$26,225$21,701$17,850$14,603$11,891$5,226
19 years$24,585$20,112$16,341$13,195$10,599$4,403
20 years$23,111$18,689$14,997$11,951$9,467$3,714
21 years$21,779$17,408$13,794$10,846$8,472$3,137
22 years$20,570$16,250$12,713$9,862$7,594$2,652
23 years$19,467$15,198$11,738$8,981$6,817$2,243
24 years$18,458$14,240$10,856$8,191$6,127$1,899
25 years$17,531$13,364$10,055$7,481$5,514$1,609
26 years$16,677$12,560$9,325$6,840$4,966$1,363
27 years$15,888$11,820$8,659$6,261$4,478$1,156
28 years$15,156$11,138$8,050$5,736$4,040$980
29 years$14,476$10,507$7,491$5,260$3,648$831
30 years$13,842$9,923$6,978$4,828$3,296$705
31 years$13,250$9,381$6,505$4,434$2,980$599
32 years$12,697$8,876$6,070$4,075$2,696$508
33 years$12,178$8,406$5,667$3,747$2,440$431
34 years$11,690$7,967$5,295$3,448$2,209$366
35 years$11,232$7,556$4,950$3,174$2,001$311
36 years$10,800$7,172$4,631$2,923$1,813$264
37 years$10,392$6,812$4,335$2,693$1,643$224
38 years$10,007$6,474$4,059$2,482$1,489$190
39 years$9,642$6,156$3,803$2,289$1,351$162
40 years$9,297$5,857$3,565$2,111$1,225$137
41 years$8,969$5,575$3,342$1,948$1,111$117
42 years$8,657$5,309$3,135$1,798$1,009$99
43 years$8,361$5,059$2,942$1,659$915$84
44 years$8,079$4,822$2,762$1,532$831$72
45 years$7,811$4,598$2,593$1,415$754$61
46 years$7,555$4,387$2,435$1,307$685$52
47 years$7,310$4,186$2,288$1,208$622$44
48 years$7,076$3,996$2,150$1,116$565$37
49 years$6,853$3,816$2,021$1,031$513$32
50 years$6,639$3,645$1,900$953$466$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,800,000, adding $6,947 every year, while hoping to spend $27,766 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: 47/47/6 Blend
70$6,800,000$6,800,000$6,800,000$6,800,000
71$7,500,766$7,140,366$7,034,966$7,841,076
72$8,236,301$7,460,701$7,241,094$8,395,435
73$9,045,930$7,795,802$7,453,198$8,993,210
74$9,937,182$8,146,363$7,671,446$9,641,266
75$10,918,351$8,513,111$7,896,016$10,344,268
76$11,998,578$8,896,809$8,127,088$11,107,339
77$13,187,935$9,298,254$8,364,847$11,936,099
78$14,497,519$9,718,284$8,609,485$12,836,722
79$15,939,560$10,157,774$8,861,196$13,815,984
80$17,527,533$10,617,642$9,120,184$14,881,332
81$19,276,287$11,098,852$9,386,656$16,040,944
82$21,202,183$11,602,411$9,660,824$17,303,803
83$23,323,251$12,129,375$9,942,907$18,679,783
84$25,659,360$12,680,851$10,233,132$20,179,733
85$28,232,402$13,257,999$10,531,728$21,815,581
86$31,066,501$13,862,036$10,838,935$23,600,433
87$34,188,241$14,494,233$11,154,997$25,548,704
88$37,626,917$15,155,926$11,480,165$27,676,238
89$41,414,810$15,848,513$11,814,698$30,000,462
90$45,587,491$16,573,461$12,158,861$32,540,538
91$50,184,160$17,332,305$12,512,927$35,317,543
92$55,248,010$18,126,654$12,877,176$38,354,662
93$60,826,644$18,958,197$13,251,898$41,677,397
94$66,972,513$19,828,700$13,637,388$45,313,807
95$73,743,419$20,740,016$14,033,951$49,294,762
96$81,203,059$21,694,088$14,441,899$53,654,229
97$89,421,623$22,692,950$14,861,555$58,429,587
98$98,476,460$23,738,736$15,293,248$63,661,970
99$108,452,806$24,833,681$15,737,319$69,396,649
100$119,444,589$25,980,129$16,194,116$75,683,449