Can I retire at age 71 with 7,000,000?

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$578,053$572,904$567,881$562,978$558,190$549,622
2 years$286,165$280,836$275,670$270,662$265,805$257,193
3 years$188,882$183,529$178,377$173,416$168,637$160,250
4 years$140,249$134,913$129,813$124,936$120,274$112,176
5 years$111,078$105,774$100,740$95,963$91,430$83,645
6 years$91,636$86,372$81,413$76,743$72,346$64,882
7 years$77,755$72,535$67,655$63,094$58,836$51,697
8 years$67,349$62,176$57,376$52,928$48,810$41,994
9 years$59,259$54,135$49,418$45,083$41,105$34,608
10 years$52,792$47,718$43,084$38,862$35,024$28,841
11 years$47,503$42,480$37,930$33,822$30,122$24,247
12 years$43,099$38,128$33,662$29,666$26,103$20,529
13 years$39,376$34,457$30,075$26,191$22,762$17,481
14 years$36,187$31,320$27,023$23,249$19,953$14,956
15 years$33,426$28,611$24,398$20,734$17,568$12,847
16 years$31,013$26,250$22,120$18,565$15,527$11,071
17 years$28,885$24,176$20,128$16,681$13,767$9,568
18 years$26,996$22,339$18,375$15,033$12,241$8,288
19 years$25,308$20,704$16,821$13,583$10,911$7,194
20 years$23,791$19,239$15,438$12,302$9,746$6,255
21 years$22,420$17,921$14,200$11,165$8,721$5,447
22 years$21,175$16,728$13,087$10,152$7,817$4,749
23 years$20,040$15,645$12,084$9,245$7,017$4,145
24 years$19,001$14,659$11,175$8,432$6,307$3,622
25 years$18,047$13,757$10,351$7,701$5,676$3,167
26 years$17,168$12,929$9,600$7,041$5,112$2,771
27 years$16,355$12,168$8,914$6,445$4,609$2,427
28 years$15,601$11,466$8,287$5,905$4,159$2,126
29 years$14,901$10,816$7,712$5,415$3,756$1,864
30 years$14,249$10,215$7,183$4,970$3,393$1,634
31 years$13,640$9,657$6,697$4,564$3,068$1,434
32 years$13,070$9,137$6,248$4,195$2,775$1,258
33 years$12,536$8,653$5,834$3,857$2,512$1,104
34 years$12,034$8,201$5,451$3,549$2,274$969
35 years$11,562$7,779$5,096$3,267$2,060$851
36 years$11,118$7,383$4,767$3,009$1,866$748
37 years$10,698$7,012$4,462$2,772$1,691$657
38 years$10,301$6,664$4,179$2,555$1,533$577
39 years$9,926$6,337$3,915$2,356$1,390$507
40 years$9,570$6,029$3,669$2,173$1,261$446
41 years$9,233$5,739$3,441$2,005$1,144$392
42 years$8,912$5,466$3,228$1,850$1,038$344
43 years$8,607$5,208$3,029$1,708$942$303
44 years$8,317$4,964$2,843$1,577$855$266
45 years$8,041$4,734$2,669$1,457$776$234
46 years$7,777$4,516$2,507$1,345$705$206
47 years$7,525$4,309$2,355$1,243$640$181
48 years$7,285$4,114$2,213$1,149$581$159
49 years$7,055$3,928$2,080$1,062$528$140
50 years$6,834$3,753$1,956$981$480$123

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,000,000, adding $4,607 every year, while hoping to spend $50,093 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: 74/21/5 Blend
70$7,000,000$7,000,000$7,000,000$7,000,000
71$7,718,752$7,347,752$7,239,252$8,286,797
72$8,452,766$7,654,493$7,428,469$8,967,797
73$9,259,971$7,974,586$7,622,345$9,706,735
74$10,147,779$8,308,632$7,820,984$10,514,727
75$11,124,357$8,657,259$8,024,491$11,398,579
76$12,198,703$9,021,126$8,232,974$12,365,777
77$13,380,732$9,400,923$8,446,539$13,424,566
78$14,681,367$9,797,369$8,665,299$14,584,017
79$16,112,645$10,211,218$8,889,365$15,854,117
80$17,687,827$10,643,260$9,118,851$17,245,862
81$19,421,526$11,094,320$9,353,873$18,771,356
82$21,329,842$11,565,263$9,594,549$20,443,925
83$23,430,518$12,056,993$9,840,998$22,278,243
84$25,743,101$12,570,456$10,093,342$24,290,465
85$28,289,132$13,106,643$10,351,703$26,498,383
86$31,092,345$13,666,590$10,616,207$28,921,586
87$34,178,895$14,251,383$10,886,980$31,581,648
88$37,577,598$14,862,157$11,164,151$34,502,327
89$41,320,212$15,500,102$11,447,849$37,709,788
90$45,441,729$16,166,462$11,738,206$41,232,848
91$49,980,705$16,862,539$12,035,357$45,103,243
92$54,979,631$17,589,697$12,339,435$49,355,931
93$60,485,326$18,349,364$12,650,578$54,029,413
94$66,549,381$19,143,035$12,968,925$59,166,099
95$73,228,648$19,972,274$13,294,614$64,812,701
96$80,585,774$20,838,720$13,627,787$71,020,676
97$88,689,793$21,744,087$13,968,588$77,846,704
98$97,616,777$22,690,171$14,317,160$85,353,225
99$107,450,552$23,678,854$14,673,649$93,609,019
100$118,283,494$24,712,103$15,038,202$102,689,858