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%16.9%
1 years$586,311$581,089$575,993$571,020$566,164$550,247
2 years$290,253$284,847$279,608$274,529$269,602$253,687
3 years$191,580$186,151$180,925$175,893$171,047$155,632
4 years$142,253$136,841$131,667$126,721$121,992$107,196
5 years$112,665$107,285$102,179$97,334$92,736$78,600
6 years$92,945$87,606$82,576$77,839$73,379$59,916
7 years$78,866$73,571$68,621$63,996$59,677$46,887
8 years$68,311$63,064$58,196$53,684$49,508$37,383
9 years$60,106$54,909$50,124$45,727$41,693$30,222
10 years$53,546$48,399$43,699$39,417$35,524$24,693
11 years$48,182$43,087$38,472$34,305$30,552$20,342
12 years$43,715$38,673$34,143$30,090$26,476$16,868
13 years$39,939$34,949$30,505$26,565$23,087$14,061
14 years$36,704$31,768$27,409$23,581$20,238$11,771
15 years$33,904$29,020$24,746$21,030$17,819$9,888
16 years$31,456$26,625$22,436$18,830$15,749$8,331
17 years$29,298$24,521$20,416$16,919$13,964$7,035
18 years$27,382$22,659$18,637$15,247$12,416$5,953
19 years$25,670$21,000$17,061$13,777$11,067$5,046
20 years$24,131$19,514$15,658$12,478$9,885$4,283
21 years$22,740$18,177$14,402$11,325$8,846$3,639
22 years$21,477$16,967$13,274$10,297$7,929$3,096
23 years$20,326$15,869$12,256$9,377$7,118$2,635
24 years$19,273$14,868$11,335$8,553$6,398$2,245
25 years$18,305$13,953$10,498$7,811$5,757$1,914
26 years$17,413$13,114$9,737$7,142$5,186$1,632
27 years$16,589$12,341$9,041$6,537$4,675$1,393
28 years$15,824$11,629$8,405$5,989$4,218$1,189
29 years$15,114$10,971$7,822$5,492$3,809$1,015
30 years$14,453$10,361$7,286$5,041$3,442$867
31 years$13,835$9,794$6,792$4,629$3,112$741
32 years$13,257$9,268$6,337$4,255$2,815$633
33 years$12,715$8,777$5,917$3,912$2,547$541
34 years$12,206$8,318$5,529$3,600$2,306$462
35 years$11,728$7,890$5,169$3,314$2,089$395
36 years$11,276$7,488$4,835$3,052$1,893$338
37 years$10,851$7,112$4,526$2,812$1,715$289
38 years$10,448$6,759$4,238$2,592$1,555$247
39 years$10,068$6,427$3,971$2,390$1,410$211
40 years$9,707$6,115$3,722$2,204$1,279$181
41 years$9,364$5,821$3,490$2,034$1,161$154
42 years$9,039$5,544$3,274$1,877$1,053$132
43 years$8,730$5,282$3,072$1,733$956$113
44 years$8,436$5,035$2,883$1,600$867$97
45 years$8,155$4,801$2,707$1,477$788$83
46 years$7,888$4,580$2,543$1,365$715$71
47 years$7,633$4,371$2,389$1,261$649$60
48 years$7,389$4,173$2,245$1,165$590$52
49 years$7,155$3,985$2,110$1,077$536$44
50 years$6,932$3,806$1,984$995$486$38

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 $4,941 every year, while hoping to spend $32,946 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: 72/19/9 Blend
70$7,100,000$7,100,000$7,100,000$7,100,000
71$7,829,297$7,452,997$7,342,947$8,380,101
72$8,592,831$7,783,139$7,553,881$9,074,784
73$9,433,141$8,128,355$7,770,778$9,830,594
74$10,358,024$8,489,346$7,993,801$10,657,224
75$11,376,070$8,866,852$8,223,121$11,561,654
76$12,496,745$9,261,644$8,458,911$12,551,564
77$13,730,478$9,674,530$8,701,351$13,635,408
78$15,088,763$10,106,358$8,950,622$14,822,490
79$16,584,263$10,558,016$9,206,914$16,123,053
80$18,230,933$11,030,433$9,470,420$17,548,371
81$20,044,147$11,524,583$9,741,338$19,110,858
82$22,040,849$12,041,487$10,019,873$20,824,178
83$24,239,709$12,582,214$10,306,232$22,703,379
84$26,661,300$13,147,883$10,600,631$24,765,026
85$29,328,291$13,739,667$10,903,291$27,027,362
86$32,265,663$14,358,797$11,214,437$29,510,471
87$35,500,942$15,006,559$11,534,302$32,236,475
88$39,064,461$15,684,304$11,863,124$35,229,731
89$42,989,646$16,393,444$12,201,148$38,517,065
90$47,313,328$17,135,461$12,548,625$42,128,020
91$52,076,096$17,911,908$12,905,813$46,095,134
92$57,322,676$18,724,409$13,272,976$50,454,242
93$63,102,354$19,574,670$13,650,386$55,244,817
94$69,469,442$20,464,476$14,038,321$60,510,331
95$76,483,787$21,395,698$14,437,067$66,298,672
96$84,211,343$22,370,297$14,846,918$72,662,586
97$92,724,784$23,390,326$15,268,174$79,660,176
98$102,104,199$24,457,939$15,701,145$87,355,443
99$112,437,842$25,575,392$16,146,147$95,818,892
100$123,822,964$26,745,049$16,603,506$105,128,188