Can I retire at age 71 with 8,200,000?

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 $8,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$677,148$671,117$665,232$659,488$653,880$629,678
2 years$335,222$328,979$322,928$317,062$311,371$287,262
3 years$221,261$214,991$208,956$203,144$197,547$174,288
4 years$164,292$158,041$152,066$146,354$140,892$118,661
5 years$130,120$123,906$118,010$112,414$107,104$85,958
6 years$107,345$101,179$95,369$89,898$84,748$64,703
7 years$91,085$84,970$79,252$73,910$68,922$49,973
8 years$78,894$72,835$67,212$62,002$57,178$39,307
9 years$69,418$63,416$57,890$52,812$48,152$31,334
10 years$61,842$55,898$50,470$45,524$41,028$25,234
11 years$55,647$49,763$44,433$39,620$35,285$20,481
12 years$50,488$44,664$39,433$34,752$30,578$16,725
13 years$46,126$40,363$35,231$30,681$26,664$13,726
14 years$42,391$36,689$31,655$27,235$23,374$11,308
15 years$39,156$33,516$28,580$24,289$20,580$9,346
16 years$36,329$30,751$25,912$21,748$18,189$7,744
17 years$33,837$28,320$23,579$19,540$16,127$6,430
18 years$31,624$26,169$21,525$17,610$14,340$5,349
19 years$29,647$24,253$19,705$15,912$12,781$4,455
20 years$27,869$22,537$18,084$14,411$11,416$3,716
21 years$26,263$20,993$16,634$13,079$10,216$3,102
22 years$24,805$19,596$15,331$11,892$9,158$2,592
23 years$23,475$18,328$14,155$10,830$8,220$2,167
24 years$22,259$17,172$13,091$9,878$7,389$1,812
25 years$21,141$16,115$12,125$9,021$6,649$1,517
26 years$20,111$15,145$11,245$8,248$5,989$1,270
27 years$19,159$14,254$10,442$7,550$5,400$1,064
28 years$18,276$13,431$9,707$6,917$4,872$891
29 years$17,456$12,671$9,034$6,343$4,399$747
30 years$16,692$11,966$8,414$5,822$3,975$626
31 years$15,978$11,312$7,845$5,347$3,594$524
32 years$15,311$10,703$7,319$4,914$3,251$440
33 years$14,685$10,136$6,834$4,519$2,942$369
34 years$14,097$9,607$6,385$4,157$2,664$309
35 years$13,544$9,112$5,970$3,827$2,413$259
36 years$13,023$8,649$5,585$3,525$2,186$217
37 years$12,532$8,214$5,227$3,248$1,981$182
38 years$12,067$7,806$4,895$2,993$1,796$153
39 years$11,627$7,423$4,586$2,760$1,629$128
40 years$11,211$7,062$4,298$2,546$1,477$108
41 years$10,815$6,723$4,031$2,349$1,340$90
42 years$10,440$6,403$3,781$2,168$1,216$76
43 years$10,083$6,100$3,548$2,001$1,104$63
44 years$9,743$5,815$3,330$1,848$1,002$53
45 years$9,419$5,545$3,127$1,706$910$45
46 years$9,110$5,290$2,937$1,576$826$37
47 years$8,815$5,048$2,759$1,456$750$31
48 years$8,533$4,819$2,593$1,346$681$26
49 years$8,264$4,602$2,437$1,244$619$22
50 years$8,006$4,396$2,291$1,149$562$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,200,000, adding $4,854 every year, while hoping to spend $20,135 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: 52/29/19 Blend
70$8,200,000$8,200,000$8,200,000$8,200,000
71$9,041,407$8,606,807$8,479,707$9,464,114
72$9,942,207$9,007,117$8,742,354$10,155,607
73$10,934,214$9,426,367$9,013,124$10,904,826
74$12,026,709$9,865,465$9,292,269$11,719,313
75$13,229,921$10,325,360$9,580,048$12,605,269
76$14,555,120$10,807,050$9,876,726$13,569,507
77$16,014,725$11,311,578$10,182,580$14,619,517
78$17,622,422$11,840,040$10,497,891$15,763,529
79$19,393,291$12,393,584$10,822,952$17,010,592
80$21,343,950$12,973,414$11,158,065$18,370,654
81$23,492,712$13,580,790$11,503,539$19,854,653
82$25,859,755$14,217,035$11,859,694$21,474,618
83$28,467,316$14,883,536$12,226,860$23,243,777
84$31,339,900$15,581,746$12,605,377$25,176,682
85$34,504,508$16,313,190$12,995,595$27,289,339
86$37,990,895$17,079,464$13,397,876$29,599,355
87$41,831,853$17,882,245$13,812,591$32,126,103
88$46,063,514$18,723,286$14,240,124$34,890,899
89$50,725,695$19,604,431$14,680,872$37,917,198
90$55,862,276$20,527,608$15,135,241$41,230,810
91$61,521,609$21,494,841$15,603,652$44,860,143
92$67,756,977$22,508,252$16,086,539$48,836,459
93$74,627,098$23,570,066$16,584,347$53,194,172
94$82,196,677$24,682,614$17,097,537$57,971,160
95$90,537,018$25,848,342$17,626,585$63,209,120
96$99,726,697$27,069,813$18,171,978$68,953,954
97$109,852,302$28,349,716$18,734,221$75,256,200
98$121,009,253$29,690,869$19,313,834$82,171,495
99$133,302,702$31,096,227$19,911,353$89,761,100
100$146,848,524$32,568,888$20,527,329$98,092,467