Can I retire at age 71 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$602,827$597,458$592,219$587,105$582,112$574,125
2 years$298,429$292,871$287,485$282,262$277,196$269,163
3 years$196,977$191,395$186,022$180,848$175,865$168,035
4 years$146,260$140,695$135,376$130,291$125,428$117,863
5 years$115,838$110,307$105,057$100,076$95,349$88,070
6 years$95,564$90,074$84,902$80,031$75,446$68,462
7 years$81,087$75,644$70,554$65,798$61,358$54,672
8 years$70,235$64,841$59,835$55,197$50,902$44,513
9 years$61,799$56,456$51,536$47,015$42,867$36,771
10 years$55,054$49,763$44,930$40,528$36,525$30,718
11 years$49,539$44,301$39,556$35,271$31,413$25,890
12 years$44,947$39,762$35,105$30,938$27,221$21,976
13 years$41,064$35,933$31,364$27,313$23,738$18,762
14 years$37,738$32,662$28,181$24,246$20,808$16,096
15 years$34,859$29,838$25,443$21,623$18,321$13,863
16 years$32,342$27,376$23,068$19,361$16,192$11,980
17 years$30,123$25,212$20,991$17,396$14,357$10,383
18 years$28,153$23,297$19,162$15,677$12,766$9,020
19 years$26,393$21,591$17,542$14,165$11,378$7,852
20 years$24,810$20,064$16,099$12,830$10,163$6,848
21 years$23,381$18,689$14,808$11,644$9,095$5,981
22 years$22,082$17,445$13,648$10,587$8,153$5,231
23 years$20,899$16,316$12,602$9,642$7,318$4,580
24 years$19,816$15,287$11,654$8,794$6,578$4,014
25 years$18,821$14,346$10,794$8,031$5,919$3,521
26 years$17,904$13,483$10,011$7,343$5,332$3,091
27 years$17,056$12,689$9,296$6,721$4,807$2,715
28 years$16,270$11,957$8,642$6,158$4,337$2,387
29 years$15,540$11,280$8,042$5,647$3,916$2,099
30 years$14,860$10,653$7,491$5,183$3,539$1,846
31 years$14,225$10,070$6,984$4,760$3,199$1,625
32 years$13,630$9,529$6,516$4,374$2,894$1,431
33 years$13,073$9,024$6,084$4,023$2,619$1,260
34 years$12,550$8,552$5,684$3,701$2,371$1,110
35 years$12,058$8,112$5,314$3,407$2,148$978
36 years$11,594$7,699$4,972$3,138$1,946$862
37 years$11,156$7,313$4,653$2,891$1,764$760
38 years$10,743$6,950$4,358$2,665$1,599$670
39 years$10,351$6,608$4,083$2,457$1,450$591
40 years$9,980$6,287$3,827$2,266$1,315$521
41 years$9,628$5,985$3,588$2,091$1,193$459
42 years$9,294$5,700$3,366$1,930$1,083$405
43 years$8,976$5,431$3,158$1,781$983$357
44 years$8,673$5,177$2,965$1,645$892$315
45 years$8,385$4,936$2,784$1,519$810$278
46 years$8,110$4,709$2,615$1,403$735$245
47 years$7,848$4,494$2,456$1,296$668$216
48 years$7,597$4,290$2,308$1,198$606$191
49 years$7,357$4,097$2,170$1,107$551$168
50 years$7,127$3,913$2,040$1,023$500$149

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,300,000, adding $6,560 every year, while hoping to spend $44,806 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: 68/27/5 Blend
70$7,300,000$7,300,000$7,300,000$7,300,000
71$8,051,367$7,664,467$7,551,317$8,593,823
72$8,824,933$7,992,352$7,756,613$9,281,566
73$9,675,901$8,334,803$7,967,284$10,027,252
74$10,612,119$8,692,484$8,183,464$10,841,424
75$11,642,233$9,066,094$8,405,288$11,730,766
76$12,775,771$9,456,363$8,632,896$12,702,630
77$14,023,230$9,864,054$8,866,428$13,765,107
78$15,396,176$10,289,970$9,106,030$14,927,099
79$16,907,353$10,734,946$9,351,849$16,198,401
80$18,570,805$11,199,860$9,604,038$17,589,792
81$20,402,005$11,685,630$9,862,750$19,113,135
82$22,418,001$12,193,218$10,128,144$20,781,488
83$24,637,581$12,723,630$10,400,382$22,609,222
84$27,081,447$13,277,920$10,679,626$24,612,156
85$29,772,407$13,857,191$10,966,047$26,807,706
86$32,735,599$14,462,599$11,259,815$29,215,042
87$35,998,717$15,095,354$11,561,107$31,855,273
88$39,592,283$15,756,723$11,870,100$34,751,635
89$43,549,925$16,448,032$12,186,978$37,929,716
90$47,908,703$17,170,671$12,511,927$41,417,689
91$52,709,452$17,926,095$12,845,138$45,246,577
92$57,997,170$18,715,827$13,186,804$49,450,541
93$63,821,443$19,541,464$13,537,123$54,067,201
94$70,236,911$20,404,677$13,896,298$59,137,988
95$77,303,786$21,307,217$14,264,535$64,708,526
96$85,088,418$22,250,916$14,642,042$70,829,068
97$93,663,921$23,237,696$15,029,035$77,554,957
98$103,110,865$24,269,566$15,425,732$84,947,149
99$113,518,034$25,348,635$15,832,354$93,072,786
100$124,983,264$26,477,109$16,249,129$102,005,818