Can I retire at age 71 with 8,700,000?

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 $8,700,000?

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$718,438$712,038$705,795$699,701$693,750$689,957
2 years$355,662$349,038$342,619$336,395$330,357$326,529
3 years$234,753$228,100$221,697$215,531$209,592$205,848
4 years$174,310$167,678$161,339$155,278$149,483$145,852
5 years$138,054$131,462$125,205$119,269$113,635$110,128
6 years$113,891$107,348$101,185$95,380$89,915$86,536
7 years$96,638$90,151$84,085$78,417$73,125$69,876
8 years$83,705$77,276$71,311$65,782$60,664$57,546
9 years$73,651$67,283$61,420$56,032$51,088$48,099
10 years$65,612$59,306$53,547$48,300$43,530$40,668
11 years$59,040$52,797$47,142$42,035$37,437$34,702
12 years$53,566$47,388$41,837$36,871$32,442$29,830
13 years$48,939$42,825$37,379$32,551$28,290$25,800
14 years$44,976$38,926$33,585$28,895$24,799$22,427
15 years$41,544$35,560$30,323$25,770$21,835$19,578
16 years$38,544$32,626$27,492$23,074$19,298$17,153
17 years$35,900$30,047$25,017$20,732$17,111$15,075
18 years$33,553$27,765$22,837$18,683$15,214$13,284
19 years$31,454$25,732$20,906$16,882$13,561$11,732
20 years$29,569$23,911$19,187$15,290$12,113$10,382
21 years$27,864$22,273$17,648$13,877$10,839$9,204
22 years$26,317$20,791$16,265$12,617$9,716$8,171
23 years$24,907$19,445$15,018$11,491$8,722$7,264
24 years$23,616$18,219$13,889$10,480$7,839$6,466
25 years$22,430$17,097$12,864$9,571$7,054$5,761
26 years$21,337$16,069$11,931$8,751$6,354$5,137
27 years$20,327$15,123$11,079$8,010$5,729$4,585
28 years$19,390$14,250$10,299$7,339$5,169$4,095
29 years$18,520$13,443$9,584$6,730$4,668$3,660
30 years$17,709$12,696$8,928$6,177$4,217$3,273
31 years$16,953$12,002$8,323$5,673$3,813$2,928
32 years$16,244$11,356$7,765$5,213$3,449$2,621
33 years$15,580$10,754$7,251$4,794$3,121$2,347
34 years$14,957$10,193$6,775$4,411$2,826$2,102
35 years$14,370$9,668$6,334$4,061$2,560$1,883
36 years$13,818$9,176$5,925$3,740$2,319$1,688
37 years$13,296$8,715$5,546$3,446$2,102$1,513
38 years$12,803$8,282$5,193$3,176$1,906$1,357
39 years$12,336$7,876$4,866$2,928$1,728$1,217
40 years$11,894$7,493$4,561$2,701$1,567$1,092
41 years$11,475$7,133$4,276$2,492$1,422$980
42 years$11,076$6,793$4,011$2,300$1,290$879
43 years$10,697$6,472$3,764$2,123$1,171$789
44 years$10,337$6,169$3,533$1,960$1,063$708
45 years$9,993$5,883$3,318$1,810$965$636
46 years$9,665$5,612$3,116$1,672$876$571
47 years$9,353$5,356$2,927$1,545$796$512
48 years$9,054$5,113$2,751$1,428$723$460
49 years$8,768$4,883$2,586$1,319$656$413
50 years$8,494$4,664$2,431$1,219$596$371

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,700,000, adding $3,326 every year, while hoping to spend $40,197 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: 68/12/20 Blend
70$8,700,000$8,700,000$8,700,000$8,700,000
71$9,590,831$9,129,731$8,994,881$10,195,196
72$10,526,326$9,534,318$9,253,440$11,004,378
73$11,555,895$9,957,383$9,519,314$11,884,218
74$12,689,090$10,399,789$9,792,704$12,845,703
75$13,936,438$10,862,439$10,073,820$13,896,878
76$15,309,536$11,346,280$10,362,875$15,046,597
77$16,821,165$11,852,305$10,660,088$16,304,609
78$18,485,407$12,381,551$10,965,684$17,681,643
79$20,317,780$12,935,107$11,279,895$19,189,511
80$22,335,380$13,514,114$11,602,959$20,841,220
81$24,557,049$14,119,766$11,935,118$22,651,088
82$27,003,547$14,753,314$12,276,623$24,634,882
83$29,697,750$15,416,068$12,627,732$26,809,962
84$32,664,868$16,109,402$12,988,708$29,195,448
85$35,932,677$16,834,755$13,359,822$31,812,390
86$39,531,786$17,593,634$13,741,352$34,683,973
87$43,495,924$18,387,619$14,133,584$37,835,732
88$47,862,260$19,218,363$14,536,810$41,295,785
89$52,671,748$20,087,601$14,951,331$45,095,106
90$57,969,522$20,997,149$15,377,457$49,267,807
91$63,805,315$21,948,911$15,815,503$53,851,461
92$70,233,930$22,944,880$16,265,795$58,887,455
93$77,315,758$23,987,147$16,728,666$64,421,375
94$85,117,349$25,077,900$17,204,460$70,503,438
95$93,712,036$26,219,435$17,693,528$77,188,958
96$103,180,633$27,414,156$18,196,229$84,538,871
97$113,612,190$28,664,583$18,712,936$92,620,302
98$125,104,840$29,973,355$19,244,026$101,507,199
99$137,766,724$31,343,239$19,789,891$111,281,026
100$151,717,007$32,777,135$20,350,930$122,031,531