Can I retire at age 71 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$701,922$695,670$689,570$683,616$677,802$666,848
2 years$347,486$341,015$334,743$328,661$322,763$311,757
3 years$229,356$222,857$216,601$210,577$204,774$194,059
4 years$170,303$163,823$157,630$151,709$146,047$135,704
5 years$134,880$128,439$122,327$116,527$111,022$101,083
6 years$111,273$104,880$98,859$93,187$87,848$78,324
7 years$94,417$88,078$82,152$76,614$71,444$62,337
8 years$81,781$75,500$69,671$64,270$59,270$50,579
9 years$71,958$65,736$60,008$54,744$49,914$41,634
10 years$64,104$57,943$52,316$47,190$42,529$34,653
11 years$57,683$51,583$46,058$41,069$36,576$29,097
12 years$52,335$46,298$40,876$36,023$31,696$24,603
13 years$47,814$41,840$36,520$31,803$27,640$20,923
14 years$43,942$38,032$32,813$28,231$24,229$17,877
15 years$40,589$34,743$29,626$25,177$21,333$15,335
16 years$37,658$31,876$26,860$22,544$18,854$13,197
17 years$35,075$29,356$24,442$20,255$16,717$11,388
18 years$32,781$27,126$22,312$18,254$14,864$9,851
19 years$30,731$25,141$20,426$16,494$13,249$8,538
20 years$28,889$23,362$18,746$14,939$11,834$7,413
21 years$27,224$21,761$17,242$13,558$10,590$6,445
22 years$25,712$20,313$15,892$12,327$9,493$5,611
23 years$24,334$18,998$14,673$11,226$8,521$4,890
24 years$23,073$17,800$13,570$10,239$7,659$4,266
25 years$21,914$16,704$12,569$9,351$6,892$3,724
26 years$20,847$15,699$11,657$8,550$6,208$3,254
27 years$19,860$14,775$10,824$7,826$5,597$2,845
28 years$18,945$13,922$10,063$7,170$5,050$2,488
29 years$18,094$13,134$9,364$6,575$4,560$2,177
30 years$17,302$12,404$8,722$6,035$4,121$1,906
31 years$16,563$11,726$8,132$5,542$3,725$1,669
32 years$15,871$11,095$7,587$5,093$3,370$1,462
33 years$15,222$10,507$7,084$4,684$3,050$1,282
34 years$14,613$9,958$6,619$4,310$2,761$1,123
35 years$14,040$9,445$6,188$3,967$2,501$985
36 years$13,500$8,965$5,789$3,654$2,266$863
37 years$12,990$8,515$5,418$3,366$2,054$757
38 years$12,509$8,092$5,074$3,103$1,862$664
39 years$12,053$7,695$4,754$2,861$1,688$583
40 years$11,621$7,321$4,456$2,639$1,531$511
41 years$11,211$6,969$4,178$2,435$1,389$448
42 years$10,822$6,637$3,919$2,247$1,261$393
43 years$10,452$6,324$3,678$2,074$1,144$345
44 years$10,099$6,028$3,452$1,915$1,039$303
45 years$9,763$5,748$3,241$1,769$943$266
46 years$9,443$5,483$3,044$1,634$856$233
47 years$9,138$5,233$2,860$1,509$777$205
48 years$8,846$4,995$2,688$1,395$706$180
49 years$8,566$4,770$2,526$1,289$641$158
50 years$8,299$4,557$2,375$1,191$582$139

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,500,000, adding $6,907 every year, while hoping to spend $22,639 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: 48/26/26 Blend
70$8,500,000$8,500,000$8,500,000$8,500,000
71$9,374,125$8,923,625$8,791,875$9,754,329
72$10,306,198$9,336,794$9,062,315$10,434,914
73$11,332,583$9,769,451$9,341,056$11,170,788
74$12,462,878$10,222,525$9,628,352$11,969,494
75$13,707,655$10,696,992$9,924,465$12,836,963
76$15,078,566$11,193,875$10,229,666$13,779,709
77$16,588,452$11,714,247$10,544,231$14,804,892
78$18,251,460$12,259,231$10,868,449$15,920,378
79$20,083,180$12,830,005$11,202,614$17,134,816
80$22,100,794$13,427,805$11,547,030$18,457,711
81$24,323,231$14,053,924$11,902,012$19,899,515
82$26,771,355$14,709,719$12,267,883$21,471,720
83$29,468,152$15,396,615$12,644,976$23,186,963
84$32,438,955$16,116,100$13,033,635$25,059,143
85$35,711,679$16,869,740$13,434,212$27,103,548
86$39,317,085$17,659,173$13,847,074$29,336,994
87$43,289,072$18,486,116$14,272,595$31,777,980
88$47,664,993$19,352,371$14,711,162$34,446,863
89$52,486,012$20,259,827$15,163,176$37,366,036
90$57,797,489$21,210,462$15,629,046$40,560,146
91$63,649,411$22,206,353$16,109,197$44,056,313
92$70,096,861$23,249,674$16,604,065$47,884,383
93$77,200,540$24,342,708$17,114,100$52,077,210
94$85,027,338$25,487,844$17,639,766$56,670,953
95$93,650,970$26,687,591$18,181,541$61,705,414
96$103,152,663$27,944,577$18,739,917$67,224,410
97$113,621,931$29,261,559$19,315,401$73,276,179
98$125,157,418$30,641,425$19,908,517$79,913,826
99$137,867,825$32,087,204$20,519,802$87,195,823
100$151,872,940$33,602,074$21,149,813$95,186,548