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%11.3%
1 years$710,180$703,854$697,682$691,658$685,776$682,026
2 years$351,574$345,026$338,681$332,528$326,560$322,776
3 years$232,055$225,479$219,149$213,054$207,183$203,482
4 years$172,307$165,751$159,484$153,493$147,765$144,176
5 years$136,467$129,951$123,766$117,898$112,328$108,862
6 years$112,582$106,114$100,022$94,284$88,882$85,542
7 years$95,528$89,115$83,118$77,516$72,285$69,073
8 years$82,743$76,388$70,491$65,026$59,967$56,884
9 years$72,804$66,509$60,714$55,388$50,501$47,546
10 years$64,858$58,625$52,932$47,745$43,029$40,201
11 years$58,361$52,190$46,600$41,552$37,007$34,303
12 years$52,951$46,843$41,357$36,447$32,069$29,487
13 years$48,376$42,332$36,949$32,177$27,965$25,503
14 years$44,459$38,479$33,199$28,563$24,514$22,169
15 years$41,066$35,151$29,974$25,473$21,584$19,353
16 years$38,101$32,251$27,176$22,809$19,076$16,956
17 years$35,488$29,702$24,729$20,493$16,914$14,902
18 years$33,167$27,446$22,575$18,469$15,039$13,131
19 years$31,093$25,436$20,666$16,688$13,405$11,597
20 years$29,229$23,637$18,966$15,114$11,973$10,263
21 years$27,544$22,017$17,445$13,717$10,715$9,098
22 years$26,015$20,552$16,078$12,472$9,604$8,077
23 years$24,621$19,222$14,846$11,359$8,621$7,181
24 years$23,344$18,009$13,730$10,360$7,749$6,391
25 years$22,172$16,901$12,716$9,461$6,973$5,695
26 years$21,092$15,884$11,794$8,651$6,281$5,078
27 years$20,093$14,949$10,952$7,918$5,663$4,532
28 years$19,168$14,086$10,181$7,255$5,110$4,048
29 years$18,307$13,289$9,474$6,653$4,614$3,618
30 years$17,506$12,550$8,825$6,106$4,169$3,235
31 years$16,758$11,864$8,227$5,607$3,769$2,894
32 years$16,058$11,225$7,676$5,153$3,409$2,591
33 years$15,401$10,631$7,167$4,739$3,086$2,320
34 years$14,785$10,076$6,697$4,360$2,794$2,078
35 years$14,205$9,556$6,261$4,014$2,530$1,862
36 years$13,659$9,070$5,857$3,697$2,293$1,669
37 years$13,143$8,615$5,482$3,406$2,078$1,496
38 years$12,656$8,187$5,134$3,139$1,884$1,341
39 years$12,195$7,785$4,810$2,895$1,708$1,203
40 years$11,758$7,407$4,508$2,670$1,549$1,079
41 years$11,343$7,051$4,227$2,463$1,406$968
42 years$10,949$6,715$3,965$2,273$1,276$869
43 years$10,575$6,398$3,721$2,099$1,158$780
44 years$10,218$6,099$3,493$1,938$1,051$700
45 years$9,878$5,816$3,279$1,790$954$628
46 years$9,554$5,548$3,080$1,653$866$564
47 years$9,245$5,294$2,894$1,527$786$506
48 years$8,950$5,054$2,719$1,411$714$455
49 years$8,667$4,826$2,556$1,304$649$408
50 years$8,397$4,610$2,403$1,205$589$367

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 $5,061 every year, while hoping to spend $38,092 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: 70/7/23 Blend
70$8,600,000$8,600,000$8,600,000$8,600,000
71$9,482,420$9,026,620$8,893,320$10,091,120
72$10,409,098$9,428,395$9,150,717$10,900,421
73$11,429,019$9,848,580$9,415,460$11,781,079
74$12,551,656$10,288,038$9,687,755$12,744,185
75$13,787,444$10,747,670$9,967,813$13,797,906
76$15,147,880$11,228,423$10,255,852$14,951,232
77$16,645,636$11,731,288$10,552,095$16,214,064
78$18,294,672$12,257,302$10,856,771$17,597,302
79$20,110,372$12,807,553$11,170,116$19,112,948
80$22,109,687$13,383,180$11,492,372$20,774,221
81$24,311,296$13,985,377$11,823,788$22,595,675
82$26,735,781$14,615,394$12,164,618$24,593,342
83$29,405,823$15,274,540$12,515,125$26,784,874
84$32,346,413$15,964,189$12,875,578$29,189,716
85$35,585,092$16,685,779$13,246,254$31,829,284
86$39,152,205$17,440,815$13,627,437$34,727,164
87$43,081,192$18,230,878$14,019,419$37,909,338
88$47,408,904$19,057,621$14,422,499$41,404,424
89$52,175,945$19,922,777$14,836,986$45,243,946
90$57,427,061$20,828,163$15,263,195$49,462,630
91$63,211,560$21,775,682$15,701,450$54,098,729
92$69,583,776$22,767,327$16,152,086$59,194,381
93$76,603,585$23,805,190$16,615,444$64,796,010
94$84,336,965$24,891,458$17,091,876$70,954,757
95$92,856,624$26,028,429$17,581,743$77,726,962
96$102,242,683$27,218,505$18,085,414$85,174,696
97$112,583,432$28,464,208$18,603,272$93,366,341
98$123,976,166$29,768,178$19,135,705$102,377,237
99$136,528,100$31,133,183$19,683,116$112,290,389
100$150,357,381$32,562,123$20,245,915$123,197,247