Can I retire at age 71 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$685,406$679,301$673,344$667,531$661,854$636,600
2 years$339,310$332,991$326,866$320,928$315,168$290,023
3 years$223,960$217,613$211,504$205,622$199,956$175,709
4 years$166,296$159,969$153,921$148,139$142,610$119,448
5 years$131,707$125,417$119,449$113,785$108,410$86,392
6 years$108,655$102,413$96,532$90,995$85,781$64,922
7 years$92,195$86,006$80,219$74,812$69,763$50,056
8 years$79,857$73,723$68,032$62,758$57,875$39,302
9 years$70,265$64,189$58,596$53,456$48,739$31,273
10 years$62,596$56,580$51,085$46,079$41,528$25,136
11 years$56,325$50,370$44,975$40,103$35,716$20,362
12 years$51,104$45,209$39,914$35,176$30,950$16,595
13 years$46,689$40,856$35,660$31,055$26,989$13,591
14 years$42,908$37,137$32,041$27,567$23,659$11,173
15 years$39,634$33,925$28,929$24,585$20,831$9,215
16 years$36,772$31,126$26,228$22,013$18,411$7,619
17 years$34,250$28,665$23,867$19,779$16,324$6,312
18 years$32,010$26,488$21,787$17,824$14,515$5,239
19 years$30,008$24,549$19,945$16,106$12,937$4,354
20 years$28,209$22,812$18,305$14,587$11,556$3,623
21 years$26,583$21,249$16,837$13,239$10,341$3,017
22 years$25,107$19,835$15,518$12,037$9,269$2,515
23 years$23,762$18,551$14,328$10,962$8,321$2,098
24 years$22,530$17,381$13,251$9,998$7,479$1,750
25 years$21,399$16,311$12,273$9,131$6,730$1,461
26 years$20,356$15,330$11,382$8,349$6,062$1,221
27 years$19,392$14,427$10,570$7,642$5,465$1,020
28 years$18,499$13,595$9,826$7,002$4,931$852
29 years$17,669$12,825$9,144$6,421$4,453$712
30 years$16,895$12,112$8,517$5,893$4,024$596
31 years$16,173$11,450$7,940$5,412$3,638$498
32 years$15,497$10,834$7,408$4,974$3,291$416
33 years$14,864$10,260$6,917$4,574$2,978$348
34 years$14,269$9,724$6,463$4,208$2,696$291
35 years$13,710$9,223$6,042$3,874$2,442$244
36 years$13,182$8,754$5,653$3,568$2,213$204
37 years$12,685$8,314$5,291$3,287$2,005$171
38 years$12,214$7,902$4,955$3,030$1,818$143
39 years$11,769$7,514$4,642$2,794$1,649$119
40 years$11,347$7,149$4,351$2,577$1,495$100
41 years$10,947$6,805$4,080$2,377$1,357$84
42 years$10,567$6,481$3,827$2,194$1,231$70
43 years$10,206$6,175$3,591$2,025$1,117$59
44 years$9,862$5,886$3,371$1,870$1,014$49
45 years$9,534$5,613$3,165$1,727$921$41
46 years$9,221$5,354$2,973$1,595$836$34
47 years$8,923$5,110$2,793$1,474$759$29
48 years$8,637$4,878$2,624$1,362$689$24
49 years$8,365$4,658$2,467$1,259$626$20
50 years$8,104$4,450$2,319$1,163$569$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,300,000, adding $3,003 every year, while hoping to spend $42,269 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: 60/19/21 Blend
70$8,300,000$8,300,000$8,300,000$8,300,000
71$9,149,698$8,709,798$8,581,148$9,647,899
72$10,037,993$9,091,604$8,823,642$10,367,695
73$11,015,478$9,490,702$9,072,844$11,147,748
74$12,091,204$9,907,894$9,328,932$11,997,862
75$13,275,148$10,344,022$9,592,092$12,924,842
76$14,578,299$10,799,965$9,862,513$13,936,171
77$16,012,768$11,276,645$10,140,389$15,040,082
78$17,591,898$11,775,029$10,425,920$16,245,634
79$19,330,393$12,296,127$10,719,310$17,562,796
80$21,244,454$12,840,998$11,020,768$19,002,535
81$23,351,935$13,410,753$11,330,510$20,576,924
82$25,672,505$14,006,553$11,648,755$22,299,249
83$28,227,841$14,629,615$11,975,729$24,184,135
84$31,041,829$15,281,214$12,311,664$26,247,678
85$34,140,789$15,962,687$12,656,798$28,507,600
86$37,553,722$16,675,431$13,011,374$30,983,409
87$41,312,588$17,420,913$13,375,640$33,696,581
88$45,452,602$18,200,668$13,749,854$36,670,763
89$50,012,570$19,016,304$14,134,278$39,931,992
90$55,035,255$19,869,506$14,529,179$43,508,937
91$60,567,778$20,762,038$14,934,833$47,433,165
92$66,662,065$21,695,752$15,351,524$51,739,440
93$73,375,335$22,672,582$15,779,539$56,466,045
94$80,770,641$23,694,561$16,219,175$61,655,139
95$88,917,465$24,763,813$16,670,736$67,353,154
96$97,892,374$25,882,568$17,134,534$73,611,227
97$107,779,742$27,053,160$17,610,886$80,485,682
98$118,672,545$28,278,034$18,100,121$88,038,553
99$130,673,242$29,559,754$18,602,571$96,338,168
100$143,894,736$30,901,006$19,118,581$105,459,791