Can I retire at age 71 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$569,796$564,720$559,768$554,935$550,216$538,227
2 years$282,077$276,824$271,732$266,796$262,007$249,989
3 years$186,183$180,907$175,829$170,939$166,228$154,556
4 years$138,246$132,986$127,958$123,152$118,555$107,319
5 years$109,491$104,263$99,301$94,592$90,124$79,355
6 years$90,327$85,138$80,250$75,646$71,312$61,022
7 years$76,644$71,499$66,688$62,193$57,996$48,186
8 years$66,387$61,288$56,557$52,172$48,113$38,781
9 years$58,413$53,362$48,712$44,439$40,518$31,656
10 years$52,037$47,036$42,468$38,307$34,524$26,123
11 years$46,825$41,873$37,389$33,338$29,691$21,741
12 years$42,484$37,583$33,181$29,242$25,730$18,218
13 years$38,814$33,964$29,645$25,817$22,437$15,350
14 years$35,670$30,873$26,637$22,917$19,668$12,992
15 years$32,949$28,203$24,049$20,438$17,317$11,037
16 years$30,570$25,875$21,804$18,300$15,305$9,405
17 years$28,473$23,830$19,841$16,442$13,571$8,035
18 years$26,611$22,020$18,112$14,818$12,066$6,880
19 years$24,947$20,408$16,581$13,389$10,755$5,901
20 years$23,451$18,964$15,217$12,127$9,607$5,070
21 years$22,099$17,665$13,997$11,006$8,597$4,362
22 years$20,872$16,489$12,900$10,007$7,706$3,757
23 years$19,754$15,422$11,911$9,113$6,917$3,238
24 years$18,730$14,449$11,016$8,312$6,217$2,794
25 years$17,789$13,560$10,203$7,591$5,595$2,412
26 years$16,922$12,744$9,463$6,941$5,039$2,084
27 years$16,121$11,994$8,787$6,353$4,543$1,802
28 years$15,379$11,302$8,168$5,821$4,100$1,558
29 years$14,688$10,662$7,601$5,338$3,702$1,348
30 years$14,045$10,069$7,080$4,899$3,345$1,167
31 years$13,445$9,519$6,601$4,499$3,024$1,010
32 years$12,883$9,006$6,159$4,135$2,736$874
33 years$12,357$8,529$5,750$3,802$2,476$757
34 years$11,862$8,084$5,373$3,498$2,241$656
35 years$11,397$7,667$5,023$3,220$2,030$568
36 years$10,959$7,277$4,699$2,966$1,839$492
37 years$10,545$6,912$4,398$2,733$1,667$427
38 years$10,154$6,569$4,119$2,519$1,511$370
39 years$9,784$6,246$3,859$2,322$1,371$321
40 years$9,433$5,943$3,617$2,142$1,243$278
41 years$9,101$5,657$3,392$1,976$1,128$241
42 years$8,785$5,388$3,181$1,824$1,023$209
43 years$8,484$5,133$2,985$1,684$929$181
44 years$8,198$4,893$2,802$1,555$843$157
45 years$7,926$4,666$2,631$1,436$765$136
46 years$7,666$4,451$2,471$1,326$695$118
47 years$7,418$4,248$2,322$1,225$631$102
48 years$7,180$4,055$2,182$1,132$573$89
49 years$6,954$3,872$2,051$1,046$520$77
50 years$6,737$3,699$1,928$967$473$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,900,000, adding $3,016 every year, while hoping to spend $39,409 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: 44/28/28 Blend
70$6,900,000$6,900,000$6,900,000$6,900,000
71$7,606,911$7,241,211$7,134,261$7,879,628
72$8,340,885$7,554,099$7,331,328$8,387,509
73$9,148,404$7,880,999$7,533,676$8,933,720
74$10,036,927$8,222,553$7,741,440$9,525,084
75$11,014,674$8,579,439$7,954,758$10,165,824
76$12,090,701$8,952,363$8,173,774$10,860,581
77$13,274,989$9,342,064$8,398,631$11,614,452
78$14,578,531$9,749,318$8,629,478$12,433,040
79$16,013,443$10,174,937$8,866,468$13,322,501
80$17,593,076$10,619,770$9,109,756$14,289,604
81$19,332,138$11,084,708$9,359,501$15,341,788
82$21,246,838$11,570,681$9,615,867$16,487,234
83$23,355,037$12,078,665$9,879,020$17,734,936
84$25,676,414$12,609,683$10,149,130$19,094,787
85$28,232,655$13,164,805$10,426,373$20,577,666
86$31,047,657$13,745,151$10,710,927$22,195,542
87$34,147,749$14,351,894$11,002,975$23,961,579
88$37,561,948$14,986,265$11,302,702$25,890,261
89$41,322,225$15,649,551$11,610,302$27,997,525
90$45,463,813$16,343,100$11,925,968$30,300,907
91$50,025,534$17,068,325$12,249,900$32,819,704
92$55,050,170$17,826,704$12,582,303$35,575,153
93$60,584,863$18,619,788$12,923,386$38,590,630
94$66,681,562$19,449,200$13,273,362$41,891,860
95$73,397,510$20,316,640$13,632,449$45,507,163
96$80,795,790$21,223,889$14,000,869$49,467,715
97$88,945,913$22,172,813$14,378,852$53,807,834
98$97,924,482$23,165,366$14,766,628$58,565,305
99$107,815,906$24,203,596$15,164,437$63,781,727
100$118,713,204$25,289,647$15,572,521$69,502,902