Can I retire at age 71 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$586,311$581,089$575,993$571,020$566,164$553,602
2 years$290,253$284,847$279,608$274,529$269,602$257,011
3 years$191,580$186,151$180,925$175,893$171,047$158,820
4 years$142,253$136,841$131,667$126,721$121,992$110,224
5 years$112,665$107,285$102,179$97,334$92,736$81,460
6 years$92,945$87,606$82,576$77,839$73,379$62,606
7 years$78,866$73,571$68,621$63,996$59,677$49,410
8 years$68,311$63,064$58,196$53,684$49,508$39,742
9 years$60,106$54,909$50,124$45,727$41,693$32,422
10 years$53,546$48,399$43,699$39,417$35,524$26,738
11 years$48,182$43,087$38,472$34,305$30,552$22,239
12 years$43,715$38,673$34,143$30,090$26,476$18,623
13 years$39,939$34,949$30,505$26,565$23,087$15,681
14 years$36,704$31,768$27,409$23,581$20,238$13,263
15 years$33,904$29,020$24,746$21,030$17,819$11,259
16 years$31,456$26,625$22,436$18,830$15,749$9,588
17 years$29,298$24,521$20,416$16,919$13,964$8,185
18 years$27,382$22,659$18,637$15,247$12,416$7,003
19 years$25,670$21,000$17,061$13,777$11,067$6,003
20 years$24,131$19,514$15,658$12,478$9,885$5,153
21 years$22,740$18,177$14,402$11,325$8,846$4,430
22 years$21,477$16,967$13,274$10,297$7,929$3,812
23 years$20,326$15,869$12,256$9,377$7,118$3,284
24 years$19,273$14,868$11,335$8,553$6,398$2,831
25 years$18,305$13,953$10,498$7,811$5,757$2,443
26 years$17,413$13,114$9,737$7,142$5,186$2,109
27 years$16,589$12,341$9,041$6,537$4,675$1,821
28 years$15,824$11,629$8,405$5,989$4,218$1,574
29 years$15,114$10,971$7,822$5,492$3,809$1,360
30 years$14,453$10,361$7,286$5,041$3,442$1,176
31 years$13,835$9,794$6,792$4,629$3,112$1,017
32 years$13,257$9,268$6,337$4,255$2,815$880
33 years$12,715$8,777$5,917$3,912$2,547$762
34 years$12,206$8,318$5,529$3,600$2,306$659
35 years$11,728$7,890$5,169$3,314$2,089$571
36 years$11,276$7,488$4,835$3,052$1,893$494
37 years$10,851$7,112$4,526$2,812$1,715$428
38 years$10,448$6,759$4,238$2,592$1,555$370
39 years$10,068$6,427$3,971$2,390$1,410$321
40 years$9,707$6,115$3,722$2,204$1,279$278
41 years$9,364$5,821$3,490$2,034$1,161$241
42 years$9,039$5,544$3,274$1,877$1,053$209
43 years$8,730$5,282$3,072$1,733$956$181
44 years$8,436$5,035$2,883$1,600$867$156
45 years$8,155$4,801$2,707$1,477$788$136
46 years$7,888$4,580$2,543$1,365$715$117
47 years$7,633$4,371$2,389$1,261$649$102
48 years$7,389$4,173$2,245$1,165$590$88
49 years$7,155$3,985$2,110$1,077$536$76
50 years$6,932$3,806$1,984$995$486$66

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,100,000, adding $3,675 every year, while hoping to spend $34,101 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: 65/26/9 Blend
70$7,100,000$7,100,000$7,100,000$7,100,000
71$7,827,991$7,451,691$7,341,641$8,322,136
72$8,590,163$7,780,540$7,551,303$8,980,560
73$9,428,933$8,124,361$7,766,845$9,695,287
74$10,352,079$8,483,849$7,988,429$10,475,291
75$11,368,170$8,859,737$8,216,221$11,326,924
76$12,486,648$9,252,789$8,450,389$12,257,175
77$13,717,917$9,663,806$8,691,107$13,273,730
78$15,073,440$10,093,628$8,938,555$14,385,047
79$16,565,851$10,543,136$9,192,916$15,600,432
80$18,209,067$11,013,248$9,454,378$16,930,122
81$20,018,426$11,504,932$9,723,134$18,385,387
82$22,010,829$12,019,197$9,999,383$19,978,625
83$24,204,899$12,557,103$10,283,328$21,723,485
84$26,621,156$13,119,759$10,575,177$23,634,987
85$29,282,213$13,708,326$10,875,144$25,729,665
86$32,212,988$14,324,023$11,183,450$28,025,722
87$35,440,937$14,968,125$11,500,320$30,543,193
88$38,996,317$15,641,967$11,825,986$33,304,136
89$42,912,469$16,346,951$12,160,683$36,332,839
90$47,226,131$17,084,542$12,504,657$39,656,040
91$51,977,790$17,856,278$12,858,157$43,303,181
92$57,212,058$18,663,769$13,221,438$47,306,682
93$62,978,096$19,508,702$13,594,764$51,702,241
94$69,330,078$20,392,844$13,978,405$56,529,170
95$76,327,700$21,318,048$14,372,636$61,830,763
96$84,036,748$22,286,255$14,777,741$67,654,694
97$92,529,712$23,299,498$15,194,012$74,053,474
98$101,886,478$24,359,908$15,621,746$81,084,930
99$112,195,073$25,469,718$16,061,249$88,812,757
100$123,552,505$26,631,268$16,512,835$97,307,108