Can I retire at age 71 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$693,664$687,485$681,457$675,573$669,828$656,841
2 years$343,398$337,003$330,804$324,795$318,966$305,934
3 years$226,658$220,235$214,052$208,099$202,365$189,695
4 years$168,299$161,896$155,775$149,924$144,328$132,118
5 years$133,293$126,928$120,888$115,156$109,716$98,000
6 years$109,964$103,647$97,695$92,091$86,815$75,606
7 years$93,306$87,042$81,185$75,713$70,604$59,905
8 years$80,819$74,611$68,852$63,514$58,572$48,380
9 years$71,111$64,963$59,302$54,100$49,326$39,635
10 years$63,350$57,261$51,701$46,634$42,029$32,828
11 years$57,004$50,976$45,517$40,586$36,146$27,426
12 years$51,719$45,754$40,395$35,599$31,323$23,071
13 years$47,251$41,348$36,090$31,429$27,315$19,517
14 years$43,425$37,584$32,427$27,899$23,944$16,586
15 years$40,111$34,334$29,277$24,881$21,082$14,149
16 years$37,215$31,501$26,544$22,278$18,632$12,108
17 years$34,662$29,011$24,154$20,017$16,521$10,389
18 years$32,396$26,807$22,050$18,039$14,689$8,934
19 years$30,370$24,845$20,185$16,300$13,093$7,698
20 years$28,549$23,087$18,525$14,763$11,695$6,644
21 years$26,904$21,505$17,040$13,398$10,466$5,742
22 years$25,410$20,074$15,705$12,182$9,381$4,968
23 years$24,048$18,775$14,500$11,094$8,421$4,303
24 years$22,802$17,591$13,410$10,119$7,569$3,730
25 years$21,656$16,508$12,421$9,241$6,811$3,236
26 years$20,601$15,515$11,520$8,449$6,135$2,809
27 years$19,626$14,601$10,697$7,734$5,531$2,440
28 years$18,722$13,759$9,944$7,086$4,991$2,120
29 years$17,882$12,980$9,254$6,498$4,507$1,844
30 years$17,099$12,258$8,620$5,964$4,072$1,603
31 years$16,368$11,588$8,036$5,477$3,682$1,395
32 years$15,684$10,964$7,498$5,034$3,330$1,214
33 years$15,043$10,383$7,001$4,629$3,014$1,057
34 years$14,441$9,841$6,541$4,259$2,729$920
35 years$13,875$9,334$6,115$3,921$2,471$801
36 years$13,341$8,860$5,721$3,611$2,239$698
37 years$12,837$8,415$5,354$3,327$2,030$608
38 years$12,361$7,997$5,014$3,066$1,840$529
39 years$11,911$7,604$4,698$2,827$1,669$461
40 years$11,484$7,235$4,403$2,608$1,513$402
41 years$11,079$6,887$4,129$2,406$1,373$350
42 years$10,694$6,559$3,873$2,221$1,246$305
43 years$10,329$6,249$3,634$2,050$1,131$266
44 years$9,980$5,957$3,411$1,893$1,026$232
45 years$9,649$5,680$3,203$1,748$932$202
46 years$9,332$5,419$3,009$1,615$846$176
47 years$9,030$5,171$2,826$1,492$768$153
48 years$8,741$4,937$2,656$1,378$698$134
49 years$8,465$4,714$2,497$1,274$634$117
50 years$8,201$4,503$2,347$1,177$575$102

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,400,000, adding $5,228 every year, while hoping to spend $37,466 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: 62/17/21 Blend
70$8,400,000$8,400,000$8,400,000$8,400,000
71$9,262,193$8,816,993$8,686,793$9,785,549
72$10,167,073$9,209,162$8,937,937$10,531,799
73$11,162,995$9,619,291$9,196,238$11,341,551
74$12,259,206$10,048,222$9,461,898$12,224,776
75$13,465,894$10,496,835$9,735,121$13,188,639
76$14,794,287$10,966,051$10,016,119$14,241,020
77$16,256,754$11,456,837$10,305,108$15,390,591
78$17,866,926$11,970,206$10,602,313$16,646,893
79$19,639,824$12,507,216$10,907,961$18,020,428
80$21,591,997$13,068,981$11,222,289$19,522,752
81$23,741,682$13,656,662$11,545,537$21,166,587
82$26,108,975$14,271,480$11,877,954$22,965,933
83$28,716,019$14,914,712$12,219,794$24,936,204
84$31,587,216$15,587,696$12,571,320$27,094,366
85$34,749,453$16,291,834$12,932,801$29,459,099
86$38,232,359$17,028,595$13,304,511$32,050,968
87$42,068,583$17,799,520$13,686,736$34,892,617
88$46,294,102$18,606,220$14,079,765$38,008,978
89$50,948,562$19,450,386$14,483,899$41,427,504
90$56,075,649$20,333,789$14,899,443$45,178,428
91$61,723,504$21,258,284$15,326,714$49,295,039
92$67,945,178$22,225,816$15,766,034$53,814,001
93$74,799,126$23,238,421$16,217,737$58,775,690
94$82,349,770$24,298,236$16,682,164$64,224,574
95$90,668,094$25,407,498$17,159,664$70,209,630
96$99,832,325$26,568,551$17,650,599$76,784,801
97$109,928,665$27,783,852$18,155,336$84,009,502
98$121,052,104$29,055,976$18,674,255$91,949,177
99$133,307,322$30,387,622$19,207,746$100,675,911
100$146,809,670$31,781,618$19,756,207$110,269,111