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

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 $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%17%
1 years$677,148$671,117$665,232$659,488$653,880$635,240
2 years$335,222$328,979$322,928$317,062$311,371$292,737
3 years$221,261$214,991$208,956$203,144$197,547$179,502
4 years$164,292$158,041$152,066$146,354$140,892$123,575
5 years$130,120$123,906$118,010$112,414$107,104$90,562
6 years$107,345$101,179$95,369$89,898$84,748$68,996
7 years$91,085$84,970$79,252$73,910$68,922$53,962
8 years$78,894$72,835$67,212$62,002$57,178$42,999
9 years$69,418$63,416$57,890$52,812$48,152$34,742
10 years$61,842$55,898$50,470$45,524$41,028$28,368
11 years$55,647$49,763$44,433$39,620$35,285$23,354
12 years$50,488$44,664$39,433$34,752$30,578$19,353
13 years$46,126$40,363$35,231$30,681$26,664$16,121
14 years$42,391$36,689$31,655$27,235$23,374$13,486
15 years$39,156$33,516$28,580$24,289$20,580$11,321
16 years$36,329$30,751$25,912$21,748$18,189$9,531
17 years$33,837$28,320$23,579$19,540$16,127$8,043
18 years$31,624$26,169$21,525$17,610$14,340$6,801
19 years$29,647$24,253$19,705$15,912$12,781$5,760
20 years$27,869$22,537$18,084$14,411$11,416$4,885
21 years$26,263$20,993$16,634$13,079$10,216$4,148
22 years$24,805$19,596$15,331$11,892$9,158$3,526
23 years$23,475$18,328$14,155$10,830$8,220$2,999
24 years$22,259$17,172$13,091$9,878$7,389$2,553
25 years$21,141$16,115$12,125$9,021$6,649$2,175
26 years$20,111$15,145$11,245$8,248$5,989$1,853
27 years$19,159$14,254$10,442$7,550$5,400$1,580
28 years$18,276$13,431$9,707$6,917$4,872$1,348
29 years$17,456$12,671$9,034$6,343$4,399$1,150
30 years$16,692$11,966$8,414$5,822$3,975$981
31 years$15,978$11,312$7,845$5,347$3,594$837
32 years$15,311$10,703$7,319$4,914$3,251$715
33 years$14,685$10,136$6,834$4,519$2,942$611
34 years$14,097$9,607$6,385$4,157$2,664$521
35 years$13,544$9,112$5,970$3,827$2,413$445
36 years$13,023$8,649$5,585$3,525$2,186$380
37 years$12,532$8,214$5,227$3,248$1,981$325
38 years$12,067$7,806$4,895$2,993$1,796$278
39 years$11,627$7,423$4,586$2,760$1,629$237
40 years$11,211$7,062$4,298$2,546$1,477$203
41 years$10,815$6,723$4,031$2,349$1,340$173
42 years$10,440$6,403$3,781$2,168$1,216$148
43 years$10,083$6,100$3,548$2,001$1,104$126
44 years$9,743$5,815$3,330$1,848$1,002$108
45 years$9,419$5,545$3,127$1,706$910$92
46 years$9,110$5,290$2,937$1,576$826$79
47 years$8,815$5,048$2,759$1,456$750$67
48 years$8,533$4,819$2,593$1,346$681$58
49 years$8,264$4,602$2,437$1,244$619$49
50 years$8,006$4,396$2,291$1,149$562$42

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 $3,125 every year, while hoping to spend $38,438 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: 49/44/7 Blend
70$8,200,000$8,200,000$8,200,000$8,200,000
71$9,039,623$8,605,023$8,477,923$9,466,048
72$9,920,767$8,985,772$8,721,036$10,138,434
73$10,890,500$9,383,889$8,971,005$10,864,004
74$11,957,816$9,800,184$9,228,019$11,651,170
75$13,132,627$10,235,508$9,492,272$12,505,692
76$14,425,856$10,690,748$9,763,963$13,433,890
77$15,849,535$11,166,837$10,043,298$14,442,708
78$17,416,925$11,664,750$10,330,486$15,539,772
79$19,142,638$12,185,508$10,625,744$16,733,459
80$21,042,772$12,730,184$10,929,291$18,032,972
81$23,135,069$13,299,897$11,241,357$19,448,426
82$25,439,077$13,895,823$11,562,173$20,990,935
83$27,976,338$14,519,193$11,891,981$22,672,717
84$30,770,586$15,171,295$12,231,024$24,507,202
85$33,847,979$15,853,482$12,579,557$26,509,155
86$37,237,339$16,567,168$12,937,837$28,694,813
87$40,970,424$17,313,836$13,306,131$31,082,027
88$45,082,232$18,095,039$13,684,712$33,690,433
89$49,611,329$18,912,405$14,073,859$36,541,628
90$54,600,211$19,767,639$14,473,860$39,659,365
91$60,095,707$20,662,528$14,885,009$43,069,780
92$66,149,422$21,598,945$15,307,609$46,801,622
93$72,818,220$22,578,851$15,741,971$50,886,525
94$80,164,765$23,604,300$16,188,414$55,359,300
95$88,258,108$24,677,449$16,647,263$60,258,249
96$97,174,344$25,800,552$17,118,855$65,625,529
97$106,997,323$26,975,976$17,603,533$71,507,535
98$117,819,450$28,206,198$18,101,650$77,955,331
99$129,742,547$29,493,815$18,613,570$85,025,126
100$142,878,825$30,841,549$19,139,662$92,778,793