Can I retire at age 71 with 7,500,000?

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 $7,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$619,343$613,826$608,444$603,190$598,061$591,077
2 years$306,605$300,895$295,361$289,995$284,791$277,762
3 years$202,373$196,638$191,118$185,803$180,683$173,827
4 years$150,267$144,550$139,085$133,860$128,865$122,234
5 years$119,012$113,329$107,936$102,818$97,961$91,575
6 years$98,182$92,542$87,228$82,224$77,513$71,379
7 years$83,309$77,716$72,487$67,601$63,039$57,160
8 years$72,160$66,617$61,475$56,709$52,297$46,673
9 years$63,492$58,002$52,948$48,303$44,041$38,669
10 years$56,562$51,126$46,161$41,638$37,526$32,402
11 years$50,896$45,515$40,640$36,237$32,273$27,394
12 years$46,178$40,851$36,067$31,785$27,967$23,327
13 years$42,189$36,918$32,223$28,062$24,388$19,981
14 years$38,772$33,557$28,953$24,910$21,378$17,198
15 years$35,814$30,655$26,140$22,215$18,823$14,863
16 years$33,228$28,126$23,700$19,891$16,636$12,889
17 years$30,948$25,903$21,566$17,872$14,751$11,210
18 years$28,925$23,935$19,687$16,106$13,116$9,774
19 years$27,116$22,183$18,023$14,554$11,690$8,539
20 years$25,490$20,613$16,540$13,181$10,442$7,475
21 years$24,021$19,201$15,214$11,963$9,344$6,553
22 years$22,687$17,923$14,022$10,877$8,376$5,753
23 years$21,471$16,763$12,947$9,906$7,519$5,056
24 years$20,358$15,706$11,974$9,035$6,758$4,449
25 years$19,336$14,739$11,090$8,251$6,081$3,918
26 years$18,394$13,852$10,285$7,544$5,478$3,453
27 years$17,523$13,037$9,551$6,905$4,939$3,045
28 years$16,716$12,284$8,879$6,327$4,456$2,688
29 years$15,966$11,589$8,262$5,802$4,024$2,373
30 years$15,267$10,945$7,696$5,325$3,636$2,096
31 years$14,614$10,346$7,175$4,890$3,287$1,853
32 years$14,004$9,790$6,694$4,494$2,973$1,638
33 years$13,431$9,271$6,251$4,133$2,691$1,448
34 years$12,894$8,787$5,840$3,803$2,436$1,281
35 years$12,388$8,334$5,460$3,500$2,207$1,134
36 years$11,912$7,910$5,108$3,224$1,999$1,003
37 years$11,462$7,513$4,781$2,970$1,812$888
38 years$11,037$7,140$4,477$2,738$1,643$786
39 years$10,635$6,789$4,194$2,524$1,490$696
40 years$10,254$6,460$3,931$2,328$1,351$617
41 years$9,892$6,149$3,686$2,148$1,226$546
42 years$9,549$5,856$3,458$1,983$1,112$484
43 years$9,222$5,580$3,245$1,830$1,010$429
44 years$8,911$5,319$3,046$1,690$916$380
45 years$8,615$5,072$2,860$1,561$832$336
46 years$8,332$4,838$2,686$1,442$755$298
47 years$8,063$4,617$2,524$1,332$686$264
48 years$7,805$4,408$2,372$1,231$623$234
49 years$7,558$4,209$2,229$1,137$566$207
50 years$7,323$4,021$2,096$1,051$514$184

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,500,000, adding $6,708 every year, while hoping to spend $36,236 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: 66/6/28 Blend
70$7,500,000$7,500,000$7,500,000$7,500,000
71$8,271,919$7,874,419$7,758,169$8,756,456
72$9,077,100$8,221,711$7,979,513$9,431,613
73$9,963,195$8,584,806$8,207,058$10,164,884
74$10,938,419$8,964,439$8,440,972$10,965,868
75$12,011,824$9,361,382$8,681,430$11,841,247
76$13,193,382$9,776,443$8,928,611$12,798,378
77$14,494,085$10,210,467$9,182,698$13,845,360
78$15,926,042$10,664,339$9,443,878$14,991,110
79$17,502,595$11,138,989$9,712,345$16,245,449
80$19,238,448$11,635,387$9,988,296$17,619,187
81$21,149,801$12,154,553$10,271,935$19,124,233
82$23,254,507$12,697,552$10,563,471$20,773,696
83$25,572,236$13,265,502$10,863,118$22,582,017
84$28,124,666$13,859,573$11,171,094$24,565,100
85$30,935,682$14,480,992$11,487,625$26,740,458
86$34,031,603$15,131,042$11,812,942$29,127,383
87$37,441,434$15,811,071$12,147,283$31,747,123
88$41,197,134$16,522,486$12,490,890$34,623,082
89$45,333,920$17,266,767$12,844,014$37,781,040
90$49,890,601$18,045,459$13,206,909$41,249,394
91$54,909,940$18,860,185$13,579,839$45,059,427
92$60,439,064$19,712,644$13,963,073$49,245,597
93$66,529,899$20,604,614$14,356,887$53,845,866
94$73,239,670$21,537,962$14,761,564$58,902,053
95$80,631,435$22,514,641$15,177,395$64,460,228
96$88,774,682$23,536,699$15,604,679$70,571,147
97$97,745,983$24,606,281$16,043,719$77,290,727
98$107,629,721$25,725,635$16,494,830$84,680,571
99$118,518,879$26,897,118$16,958,334$92,808,552
100$130,515,925$28,123,197$17,434,559$101,749,447