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%12.8%
1 years$569,796$564,720$559,768$554,935$550,216$543,791
2 years$282,077$276,824$271,732$266,796$262,007$255,541
3 years$186,183$180,907$175,829$170,939$166,228$159,921
4 years$138,246$132,986$127,958$123,152$118,555$112,455
5 years$109,491$104,263$99,301$94,592$90,124$84,249
6 years$90,327$85,138$80,250$75,646$71,312$65,669
7 years$76,644$71,499$66,688$62,193$57,996$52,587
8 years$66,387$61,288$56,557$52,172$48,113$42,939
9 years$58,413$53,362$48,712$44,439$40,518$35,576
10 years$52,037$47,036$42,468$38,307$34,524$29,810
11 years$46,825$41,873$37,389$33,338$29,691$25,203
12 years$42,484$37,583$33,181$29,242$25,730$21,461
13 years$38,814$33,964$29,645$25,817$22,437$18,382
14 years$35,670$30,873$26,637$22,917$19,668$15,822
15 years$32,949$28,203$24,049$20,438$17,317$13,674
16 years$30,570$25,875$21,804$18,300$15,305$11,858
17 years$28,473$23,830$19,841$16,442$13,571$10,313
18 years$26,611$22,020$18,112$14,818$12,066$8,992
19 years$24,947$20,408$16,581$13,389$10,755$7,856
20 years$23,451$18,964$15,217$12,127$9,607$6,877
21 years$22,099$17,665$13,997$11,006$8,597$6,029
22 years$20,872$16,489$12,900$10,007$7,706$5,293
23 years$19,754$15,422$11,911$9,113$6,917$4,652
24 years$18,730$14,449$11,016$8,312$6,217$4,093
25 years$17,789$13,560$10,203$7,591$5,595$3,604
26 years$16,922$12,744$9,463$6,941$5,039$3,177
27 years$16,121$11,994$8,787$6,353$4,543$2,802
28 years$15,379$11,302$8,168$5,821$4,100$2,473
29 years$14,688$10,662$7,601$5,338$3,702$2,183
30 years$14,045$10,069$7,080$4,899$3,345$1,929
31 years$13,445$9,519$6,601$4,499$3,024$1,704
32 years$12,883$9,006$6,159$4,135$2,736$1,507
33 years$12,357$8,529$5,750$3,802$2,476$1,333
34 years$11,862$8,084$5,373$3,498$2,241$1,179
35 years$11,397$7,667$5,023$3,220$2,030$1,043
36 years$10,959$7,277$4,699$2,966$1,839$923
37 years$10,545$6,912$4,398$2,733$1,667$817
38 years$10,154$6,569$4,119$2,519$1,511$723
39 years$9,784$6,246$3,859$2,322$1,371$641
40 years$9,433$5,943$3,617$2,142$1,243$567
41 years$9,101$5,657$3,392$1,976$1,128$502
42 years$8,785$5,388$3,181$1,824$1,023$445
43 years$8,484$5,133$2,985$1,684$929$394
44 years$8,198$4,893$2,802$1,555$843$349
45 years$7,926$4,666$2,631$1,436$765$309
46 years$7,666$4,451$2,471$1,326$695$274
47 years$7,418$4,248$2,322$1,225$631$243
48 years$7,180$4,055$2,182$1,132$573$215
49 years$6,954$3,872$2,051$1,046$520$191
50 years$6,737$3,699$1,928$967$473$169

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 $2,019 every year, while hoping to spend $55,169 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: 61/19/20 Blend
70$6,900,000$6,900,000$6,900,000$6,900,000
71$7,605,883$7,240,183$7,133,233$8,030,143
72$8,322,983$7,536,252$7,313,497$8,613,218
73$9,111,379$7,844,980$7,497,950$9,242,997
74$9,978,284$8,166,928$7,686,676$9,929,074
75$10,931,646$8,502,685$7,879,756$10,676,927
76$11,980,222$8,852,864$8,077,276$11,492,580
77$13,133,658$9,218,109$8,279,319$12,382,667
78$14,402,587$9,599,091$8,485,971$13,354,483
79$15,798,719$9,996,515$8,697,319$14,416,061
80$17,334,959$10,411,115$8,913,450$15,576,241
81$19,025,525$10,843,660$9,134,452$16,844,750
82$20,886,085$11,294,956$9,360,412$18,232,301
83$22,933,901$11,765,844$9,591,421$19,750,683
84$25,187,994$12,257,205$9,827,568$21,412,877
85$27,669,321$12,769,959$10,068,944$23,233,174
86$30,400,976$13,305,072$10,315,638$25,227,309
87$33,408,405$13,863,550$10,567,742$27,412,607
88$36,719,648$14,446,450$10,825,347$29,808,146
89$40,365,601$15,054,875$11,088,544$32,434,934
90$44,380,308$15,689,980$11,357,427$35,316,106
91$48,801,285$16,352,973$11,632,085$38,477,140
92$53,669,867$17,045,120$11,912,611$41,946,096
93$59,031,607$17,767,744$12,199,097$45,753,877
94$64,936,697$18,522,231$12,491,633$49,934,518
95$71,440,449$19,310,028$12,790,312$54,525,509
96$78,603,810$20,132,655$13,095,222$59,568,141
97$86,493,941$20,991,698$13,406,455$65,107,898
98$95,184,851$21,888,819$13,724,099$71,194,877
99$104,758,092$22,825,758$14,048,243$77,884,267
100$115,303,532$23,804,334$14,378,974$85,236,859