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%15.7%
1 years$701,922$695,670$689,570$683,616$677,802$661,954
2 years$347,486$341,015$334,743$328,661$322,763$306,886
3 years$229,356$222,857$216,601$210,577$204,774$189,365
4 years$170,303$163,823$157,630$151,709$146,047$131,224
5 years$134,880$128,439$122,327$116,527$111,022$96,827
6 years$111,273$104,880$98,859$93,187$87,848$74,295
7 years$94,417$88,078$82,152$76,614$71,444$58,535
8 years$81,781$75,500$69,671$64,270$59,270$47,000
9 years$71,958$65,736$60,008$54,744$49,914$38,274
10 years$64,104$57,943$52,316$47,190$42,529$31,506
11 years$57,683$51,583$46,058$41,069$36,576$26,155
12 years$52,335$46,298$40,876$36,023$31,696$21,859
13 years$47,814$41,840$36,520$31,803$27,640$18,369
14 years$43,942$38,032$32,813$28,231$24,229$15,504
15 years$40,589$34,743$29,626$25,177$21,333$13,134
16 years$37,658$31,876$26,860$22,544$18,854$11,161
17 years$35,075$29,356$24,442$20,255$16,717$9,508
18 years$32,781$27,126$22,312$18,254$14,864$8,117
19 years$30,731$25,141$20,426$16,494$13,249$6,942
20 years$28,889$23,362$18,746$14,939$11,834$5,946
21 years$27,224$21,761$17,242$13,558$10,590$5,100
22 years$25,712$20,313$15,892$12,327$9,493$4,378
23 years$24,334$18,998$14,673$11,226$8,521$3,763
24 years$23,073$17,800$13,570$10,239$7,659$3,236
25 years$21,914$16,704$12,569$9,351$6,892$2,785
26 years$20,847$15,699$11,657$8,550$6,208$2,399
27 years$19,860$14,775$10,824$7,826$5,597$2,067
28 years$18,945$13,922$10,063$7,170$5,050$1,781
29 years$18,094$13,134$9,364$6,575$4,560$1,536
30 years$17,302$12,404$8,722$6,035$4,121$1,325
31 years$16,563$11,726$8,132$5,542$3,725$1,143
32 years$15,871$11,095$7,587$5,093$3,370$987
33 years$15,222$10,507$7,084$4,684$3,050$852
34 years$14,613$9,958$6,619$4,310$2,761$735
35 years$14,040$9,445$6,188$3,967$2,501$635
36 years$13,500$8,965$5,789$3,654$2,266$548
37 years$12,990$8,515$5,418$3,366$2,054$474
38 years$12,509$8,092$5,074$3,103$1,862$409
39 years$12,053$7,695$4,754$2,861$1,688$353
40 years$11,621$7,321$4,456$2,639$1,531$305
41 years$11,211$6,969$4,178$2,435$1,389$264
42 years$10,822$6,637$3,919$2,247$1,261$228
43 years$10,452$6,324$3,678$2,074$1,144$197
44 years$10,099$6,028$3,452$1,915$1,039$170
45 years$9,763$5,748$3,241$1,769$943$147
46 years$9,443$5,483$3,044$1,634$856$127
47 years$9,138$5,233$2,860$1,509$777$110
48 years$8,846$4,995$2,688$1,395$706$95
49 years$8,566$4,770$2,526$1,289$641$82
50 years$8,299$4,557$2,375$1,191$582$71

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 $4,250 every year, while hoping to spend $54,989 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: 70/11/19 Blend
70$8,500,000$8,500,000$8,500,000$8,500,000
71$9,371,384$8,920,884$8,789,134$9,983,980
72$10,268,757$9,299,499$9,025,062$10,771,460
73$11,255,820$9,694,824$9,267,051$11,626,168
74$12,341,661$10,107,618$9,515,245$12,560,313
75$13,536,298$10,538,679$9,769,793$13,581,743
76$14,850,765$10,988,839$10,030,845$14,699,097
77$16,297,221$11,458,970$10,298,557$15,921,884
78$17,889,063$11,949,985$10,573,084$17,260,576
79$19,641,053$12,462,840$10,854,588$18,726,702
80$21,569,457$12,998,535$11,143,233$20,332,956
81$23,692,196$13,558,118$11,439,186$22,093,318
82$26,029,017$14,142,683$11,742,616$24,023,181
83$28,601,681$14,753,379$12,053,698$26,139,497
84$31,434,165$15,391,407$12,372,609$28,460,936
85$34,552,888$16,058,024$12,699,530$31,008,058
86$37,986,963$16,754,548$13,034,644$33,803,509
87$41,768,468$17,482,355$13,378,140$36,872,231
88$45,932,752$18,242,891$13,730,208$40,241,696
89$50,518,766$19,037,666$14,091,043$43,942,163
90$55,569,431$19,868,262$14,460,844$48,006,964
91$61,132,043$20,736,337$14,839,812$52,472,814
92$67,258,719$21,643,625$15,228,153$57,380,156
93$74,006,889$22,591,943$15,626,077$62,773,544
94$81,439,837$23,583,194$16,033,796$68,702,057
95$89,627,300$24,619,370$16,451,527$75,219,761
96$98,646,122$25,702,557$16,879,492$82,386,220
97$108,580,986$26,834,941$17,317,913$90,267,052
98$119,525,203$28,018,810$17,767,020$98,934,550
99$131,581,603$29,256,561$18,227,045$108,468,357
100$144,863,497$30,550,703$18,698,222$118,956,218