Can I retire at age 71 with 8,600,000?

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 $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$710,180$703,854$697,682$691,658$685,776$680,884
2 years$351,574$345,026$338,681$332,528$326,560$321,627
3 years$232,055$225,479$219,149$213,054$207,183$202,362
4 years$172,307$165,751$159,484$153,493$147,765$143,092
5 years$136,467$129,951$123,766$117,898$112,328$107,819
6 years$112,582$106,114$100,022$94,284$88,882$84,540
7 years$95,528$89,115$83,118$77,516$72,285$68,114
8 years$82,743$76,388$70,491$65,026$59,967$55,967
9 years$72,804$66,509$60,714$55,388$50,501$46,670
10 years$64,858$58,625$52,932$47,745$43,029$39,366
11 years$58,361$52,190$46,600$41,552$37,007$33,508
12 years$52,951$46,843$41,357$36,447$32,069$28,733
13 years$48,376$42,332$36,949$32,177$27,965$24,787
14 years$44,459$38,479$33,199$28,563$24,514$21,490
15 years$41,066$35,151$29,974$25,473$21,584$18,710
16 years$38,101$32,251$27,176$22,809$19,076$16,348
17 years$35,488$29,702$24,729$20,493$16,914$14,328
18 years$33,167$27,446$22,575$18,469$15,039$12,590
19 years$31,093$25,436$20,666$16,688$13,405$11,088
20 years$29,229$23,637$18,966$15,114$11,973$9,784
21 years$27,544$22,017$17,445$13,717$10,715$8,648
22 years$26,015$20,552$16,078$12,472$9,604$7,655
23 years$24,621$19,222$14,846$11,359$8,621$6,785
24 years$23,344$18,009$13,730$10,360$7,749$6,020
25 years$22,172$16,901$12,716$9,461$6,973$5,347
26 years$21,092$15,884$11,794$8,651$6,281$4,754
27 years$20,093$14,949$10,952$7,918$5,663$4,230
28 years$19,168$14,086$10,181$7,255$5,110$3,766
29 years$18,307$13,289$9,474$6,653$4,614$3,355
30 years$17,506$12,550$8,825$6,106$4,169$2,990
31 years$16,758$11,864$8,227$5,607$3,769$2,666
32 years$16,058$11,225$7,676$5,153$3,409$2,379
33 years$15,401$10,631$7,167$4,739$3,086$2,123
34 years$14,785$10,076$6,697$4,360$2,794$1,895
35 years$14,205$9,556$6,261$4,014$2,530$1,692
36 years$13,659$9,070$5,857$3,697$2,293$1,512
37 years$13,143$8,615$5,482$3,406$2,078$1,351
38 years$12,656$8,187$5,134$3,139$1,884$1,207
39 years$12,195$7,785$4,810$2,895$1,708$1,079
40 years$11,758$7,407$4,508$2,670$1,549$965
41 years$11,343$7,051$4,227$2,463$1,406$862
42 years$10,949$6,715$3,965$2,273$1,276$771
43 years$10,575$6,398$3,721$2,099$1,158$690
44 years$10,218$6,099$3,493$1,938$1,051$617
45 years$9,878$5,816$3,279$1,790$954$552
46 years$9,554$5,548$3,080$1,653$866$494
47 years$9,245$5,294$2,894$1,527$786$442
48 years$8,950$5,054$2,719$1,411$714$395
49 years$8,667$4,826$2,556$1,304$649$354
50 years$8,397$4,610$2,403$1,205$589$316

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,600,000, adding $5,399 every year, while hoping to spend $41,143 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: 25/49/26 Blend
70$8,600,000$8,600,000$8,600,000$8,600,000
71$9,482,769$9,026,969$8,893,669$9,641,949
72$10,406,236$9,425,515$9,147,831$10,172,389
73$11,422,517$9,842,210$9,409,129$10,736,854
74$12,541,037$10,277,901$9,677,757$11,341,222
75$13,772,178$10,733,474$9,953,918$11,988,862
76$15,127,382$11,209,857$10,237,816$12,683,461
77$16,619,257$11,708,021$10,529,665$13,429,047
78$18,261,692$12,228,985$10,829,679$14,230,030
79$20,069,994$12,773,815$11,138,084$15,091,233
80$22,061,030$13,343,629$11,455,106$16,017,940
81$24,253,385$13,939,596$11,780,982$17,015,936
82$26,667,537$14,562,943$12,115,951$18,091,557
83$29,326,052$15,214,953$12,460,262$19,251,747
84$32,253,796$15,896,972$12,814,167$20,504,116
85$35,478,169$16,610,410$13,177,927$21,857,007
86$39,029,364$17,356,742$13,551,810$23,319,570
87$42,940,653$18,137,516$13,936,089$24,901,840
88$47,248,697$18,954,353$14,331,046$26,614,824
89$51,993,897$19,808,949$14,736,969$28,470,605
90$57,220,771$20,703,084$15,154,154$30,482,441
91$62,978,377$21,638,622$15,582,905$32,664,888
92$69,320,772$22,617,515$16,023,534$35,033,924
93$76,307,528$23,641,810$16,476,359$37,607,102
94$84,004,288$24,713,651$16,941,709$40,403,694
95$92,483,389$25,835,284$17,419,920$43,444,876
96$101,824,545$27,009,063$17,911,337$46,753,911
97$112,115,596$28,237,454$18,416,314$50,356,362
98$123,453,339$29,523,042$18,935,214$54,280,323
99$135,944,444$30,868,536$19,468,408$58,556,674
100$149,706,456$32,276,773$20,016,278$63,219,360