Can I retire at age 71 with 7,400,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$611,085$605,642$600,331$595,148$590,086$568,021
2 years$302,517$296,883$291,423$286,129$280,994$259,015
3 years$199,675$194,016$188,570$183,325$178,274$157,075
4 years$148,264$142,623$137,231$132,076$127,146$106,888
5 years$117,425$111,818$106,497$101,447$96,655$77,389
6 years$96,873$91,308$86,065$81,128$76,480$58,220
7 years$82,198$76,680$71,520$66,700$62,198$44,940
8 years$71,197$65,729$60,655$55,953$51,600$35,327
9 years$62,646$57,229$52,242$47,659$43,454$28,145
10 years$55,808$50,444$45,546$41,083$37,025$22,651
11 years$50,218$44,908$40,098$35,754$31,843$18,372
12 years$45,562$40,307$35,586$31,361$27,594$14,994
13 years$41,626$36,426$31,794$27,687$24,063$12,296
14 years$38,255$33,110$28,567$24,578$21,093$10,123
15 years$35,336$30,246$25,792$21,919$18,572$8,361
16 years$32,785$27,751$23,384$19,626$16,414$6,923
17 years$30,536$25,557$21,279$17,634$14,554$5,744
18 years$28,539$23,616$19,425$15,892$12,941$4,774
19 years$26,754$21,887$17,782$14,360$11,534$3,974
20 years$25,150$20,339$16,320$13,005$10,303$3,312
21 years$23,701$18,945$15,011$11,803$9,220$2,762
22 years$22,385$17,684$13,835$10,732$8,264$2,306
23 years$21,185$16,540$12,774$9,774$7,418$1,926
24 years$20,087$15,496$11,814$8,914$6,668$1,610
25 years$19,078$14,543$10,942$8,141$6,000$1,347
26 years$18,149$13,668$10,148$7,444$5,405$1,126
27 years$17,289$12,863$9,423$6,813$4,873$943
28 years$16,493$12,121$8,760$6,242$4,397$789
29 years$15,753$11,434$8,152$5,724$3,970$661
30 years$15,063$10,799$7,594$5,254$3,587$553
31 years$14,419$10,208$7,079$4,825$3,243$463
32 years$13,817$9,659$6,605$4,434$2,934$388
33 years$13,252$9,147$6,167$4,078$2,655$325
34 years$12,722$8,670$5,762$3,752$2,404$272
35 years$12,223$8,223$5,387$3,454$2,177$228
36 years$11,753$7,805$5,040$3,181$1,973$191
37 years$11,309$7,413$4,717$2,931$1,788$160
38 years$10,890$7,045$4,417$2,701$1,621$134
39 years$10,493$6,699$4,139$2,491$1,470$113
40 years$10,117$6,373$3,879$2,297$1,333$94
41 years$9,760$6,067$3,637$2,120$1,210$79
42 years$9,421$5,778$3,412$1,956$1,098$66
43 years$9,099$5,505$3,202$1,806$996$56
44 years$8,792$5,248$3,005$1,667$904$47
45 years$8,500$5,004$2,822$1,540$821$39
46 years$8,221$4,774$2,650$1,422$745$33
47 years$7,955$4,556$2,490$1,314$677$27
48 years$7,701$4,349$2,340$1,214$615$23
49 years$7,458$4,153$2,199$1,122$558$19
50 years$7,225$3,967$2,068$1,037$507$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,400,000, adding $4,175 every year, while hoping to spend $24,439 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: 76/10/14 Blend
70$7,400,000$7,400,000$7,400,000$7,400,000
71$8,159,107$7,766,907$7,652,207$8,754,986
72$8,965,332$8,121,482$7,882,553$9,503,380
73$9,852,974$8,492,613$8,119,796$10,320,128
74$10,830,311$8,881,084$8,364,142$11,214,845
75$11,906,464$9,287,718$8,615,803$12,195,290
76$13,091,486$9,713,379$8,874,995$13,270,002
77$14,396,453$10,158,970$9,141,942$14,448,386
78$15,833,570$10,625,439$9,416,876$15,740,796
79$17,416,287$11,113,777$9,700,034$17,158,636
80$19,159,422$11,625,027$9,991,660$18,714,461
81$21,079,308$12,160,278$10,292,005$20,422,100
82$23,193,940$12,720,674$10,601,329$22,296,782
83$25,523,147$13,307,412$10,919,899$24,355,280
84$28,088,781$13,921,748$11,247,988$26,616,065
85$30,914,921$14,564,998$11,585,881$29,099,484
86$34,028,102$15,238,542$11,933,866$31,827,947
87$37,457,562$15,943,825$12,292,245$34,826,137
88$41,235,524$16,682,362$12,661,325$38,121,243
89$45,397,492$17,455,743$13,041,424$41,743,216
90$49,982,593$18,265,631$13,432,869$45,725,046
91$55,033,942$19,113,772$13,835,996$50,103,076
92$60,599,054$20,001,996$14,251,150$54,917,339
93$66,730,283$20,932,220$14,678,690$60,211,940
94$73,485,326$21,906,453$15,118,981$66,035,464
95$80,927,764$22,926,804$15,572,401$72,441,436
96$89,127,659$23,995,480$16,039,339$79,488,823
97$98,162,218$25,114,797$16,520,195$87,242,589
98$108,116,524$26,287,182$17,015,381$95,774,306
99$119,084,335$27,515,179$17,525,322$105,162,827
100$131,168,970$28,801,456$18,050,453$115,495,027