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%16.6%
1 years$677,148$671,117$665,232$659,488$653,880$636,266
2 years$335,222$328,979$322,928$317,062$311,371$293,752
3 years$221,261$214,991$208,956$203,144$197,547$180,473
4 years$164,292$158,041$152,066$146,354$140,892$124,494
5 years$130,120$123,906$118,010$112,414$107,104$91,428
6 years$107,345$101,179$95,369$89,898$84,748$69,809
7 years$91,085$84,970$79,252$73,910$68,922$54,721
8 years$78,894$72,835$67,212$62,002$57,178$43,707
9 years$69,418$63,416$57,890$52,812$48,152$35,399
10 years$61,842$55,898$50,470$45,524$41,028$28,977
11 years$55,647$49,763$44,433$39,620$35,285$23,917
12 years$50,488$44,664$39,433$34,752$30,578$19,872
13 years$46,126$40,363$35,231$30,681$26,664$16,598
14 years$42,391$36,689$31,655$27,235$23,374$13,923
15 years$39,156$33,516$28,580$24,289$20,580$11,721
16 years$36,329$30,751$25,912$21,748$18,189$9,896
17 years$33,837$28,320$23,579$19,540$16,127$8,376
18 years$31,624$26,169$21,525$17,610$14,340$7,103
19 years$29,647$24,253$19,705$15,912$12,781$6,034
20 years$27,869$22,537$18,084$14,411$11,416$5,133
21 years$26,263$20,993$16,634$13,079$10,216$4,372
22 years$24,805$19,596$15,331$11,892$9,158$3,728
23 years$23,475$18,328$14,155$10,830$8,220$3,181
24 years$22,259$17,172$13,091$9,878$7,389$2,717
25 years$21,141$16,115$12,125$9,021$6,649$2,321
26 years$20,111$15,145$11,245$8,248$5,989$1,985
27 years$19,159$14,254$10,442$7,550$5,400$1,698
28 years$18,276$13,431$9,707$6,917$4,872$1,453
29 years$17,456$12,671$9,034$6,343$4,399$1,243
30 years$16,692$11,966$8,414$5,822$3,975$1,064
31 years$15,978$11,312$7,845$5,347$3,594$912
32 years$15,311$10,703$7,319$4,914$3,251$781
33 years$14,685$10,136$6,834$4,519$2,942$669
34 years$14,097$9,607$6,385$4,157$2,664$573
35 years$13,544$9,112$5,970$3,827$2,413$491
36 years$13,023$8,649$5,585$3,525$2,186$421
37 years$12,532$8,214$5,227$3,248$1,981$361
38 years$12,067$7,806$4,895$2,993$1,796$309
39 years$11,627$7,423$4,586$2,760$1,629$265
40 years$11,211$7,062$4,298$2,546$1,477$227
41 years$10,815$6,723$4,031$2,349$1,340$195
42 years$10,440$6,403$3,781$2,168$1,216$167
43 years$10,083$6,100$3,548$2,001$1,104$143
44 years$9,743$5,815$3,330$1,848$1,002$123
45 years$9,419$5,545$3,127$1,706$910$105
46 years$9,110$5,290$2,937$1,576$826$90
47 years$8,815$5,048$2,759$1,456$750$77
48 years$8,533$4,819$2,593$1,346$681$66
49 years$8,264$4,602$2,437$1,244$619$57
50 years$8,006$4,396$2,291$1,149$562$49

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 $6,587 every year, while hoping to spend $55,416 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: 57/21/22 Blend
70$8,200,000$8,200,000$8,200,000$8,200,000
71$9,043,194$8,608,594$8,481,494$9,504,702
72$9,906,638$8,971,453$8,706,662$10,183,180
73$10,856,296$9,350,235$8,937,516$10,915,770
74$11,900,903$9,745,661$9,174,188$11,712,995
75$13,050,083$10,158,487$9,416,811$12,581,098
76$14,314,442$10,589,503$9,665,525$13,526,945
77$15,705,662$11,039,536$9,920,467$14,558,090
78$17,236,618$11,509,452$10,181,781$15,682,842
79$18,921,495$12,000,157$10,449,613$16,910,344
80$20,775,921$12,512,598$10,724,108$18,250,656
81$22,817,119$13,047,769$11,005,420$19,714,849
82$25,064,063$13,606,708$11,293,699$21,315,105
83$27,537,663$14,190,502$11,589,104$23,064,834
84$30,260,958$14,800,290$11,891,792$24,978,795
85$33,259,334$15,437,263$12,201,925$27,073,233
86$36,560,764$16,102,667$12,519,668$29,366,032
87$40,196,074$16,797,809$12,845,189$31,876,879
88$44,199,228$17,524,056$13,178,657$34,627,449
89$48,607,652$18,282,838$13,520,245$37,641,607
90$53,462,589$19,075,654$13,870,130$40,945,629
91$58,809,484$19,904,072$14,228,490$44,568,446
92$64,698,415$20,769,734$14,595,507$48,541,918
93$71,184,562$21,674,360$14,971,366$52,901,127
94$78,328,734$22,619,751$15,356,253$57,684,710
95$86,197,937$23,607,791$15,750,360$62,935,213
96$94,866,009$24,640,454$16,153,879$68,699,496
97$104,414,314$25,719,809$16,567,006$75,029,168
98$114,932,513$26,848,019$16,989,940$81,981,072
99$126,519,409$28,027,351$17,422,883$89,617,813
100$139,283,877$29,260,179$17,866,037$98,008,351