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%19.1%
1 years$718,438$712,038$705,795$699,701$693,750$668,338
2 years$355,662$349,038$342,619$336,395$330,357$305,038
3 years$234,753$228,100$221,697$215,531$209,592$185,162
4 years$174,310$167,678$161,339$155,278$149,483$126,128
5 years$138,054$131,462$125,205$119,269$113,635$91,416
6 years$113,891$107,348$101,185$95,380$89,915$68,848
7 years$96,638$90,151$84,085$78,417$73,125$53,205
8 years$83,705$77,276$71,311$65,782$60,664$41,874
9 years$73,651$67,283$61,420$56,032$51,088$33,401
10 years$65,612$59,306$53,547$48,300$43,530$26,915
11 years$59,040$52,797$47,142$42,035$37,437$21,860
12 years$53,566$47,388$41,837$36,871$32,442$17,864
13 years$48,939$42,825$37,379$32,551$28,290$14,670
14 years$44,976$38,926$33,585$28,895$24,799$12,094
15 years$41,544$35,560$30,323$25,770$21,835$10,003
16 years$38,544$32,626$27,492$23,074$19,298$8,294
17 years$35,900$30,047$25,017$20,732$17,111$6,892
18 years$33,553$27,765$22,837$18,683$15,214$5,737
19 years$31,454$25,732$20,906$16,882$13,561$4,783
20 years$29,569$23,911$19,187$15,290$12,113$3,992
21 years$27,864$22,273$17,648$13,877$10,839$3,335
22 years$26,317$20,791$16,265$12,617$9,716$2,788
23 years$24,907$19,445$15,018$11,491$8,722$2,333
24 years$23,616$18,219$13,889$10,480$7,839$1,953
25 years$22,430$17,097$12,864$9,571$7,054$1,636
26 years$21,337$16,069$11,931$8,751$6,354$1,371
27 years$20,327$15,123$11,079$8,010$5,729$1,149
28 years$19,390$14,250$10,299$7,339$5,169$963
29 years$18,520$13,443$9,584$6,730$4,668$808
30 years$17,709$12,696$8,928$6,177$4,217$678
31 years$16,953$12,002$8,323$5,673$3,813$568
32 years$16,244$11,356$7,765$5,213$3,449$477
33 years$15,580$10,754$7,251$4,794$3,121$400
34 years$14,957$10,193$6,775$4,411$2,826$336
35 years$14,370$9,668$6,334$4,061$2,560$282
36 years$13,818$9,176$5,925$3,740$2,319$237
37 years$13,296$8,715$5,546$3,446$2,102$199
38 years$12,803$8,282$5,193$3,176$1,906$167
39 years$12,336$7,876$4,866$2,928$1,728$140
40 years$11,894$7,493$4,561$2,701$1,567$117
41 years$11,475$7,133$4,276$2,492$1,422$99
42 years$11,076$6,793$4,011$2,300$1,290$83
43 years$10,697$6,472$3,764$2,123$1,171$70
44 years$10,337$6,169$3,533$1,960$1,063$58
45 years$9,993$5,883$3,318$1,810$965$49
46 years$9,665$5,612$3,116$1,672$876$41
47 years$9,353$5,356$2,927$1,545$796$35
48 years$9,054$5,113$2,751$1,428$723$29
49 years$8,768$4,883$2,586$1,319$656$24
50 years$8,494$4,664$2,431$1,219$596$20

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 $6,146 every year, while hoping to spend $37,753 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: 58/20/22 Blend
70$8,700,000$8,700,000$8,700,000$8,700,000
71$9,593,740$9,132,640$8,997,790$10,093,306
72$10,532,132$9,539,970$9,259,047$10,841,499
73$11,564,975$9,965,994$9,527,790$11,652,232
74$12,701,863$10,411,589$9,804,232$12,535,325
75$13,953,368$10,877,671$10,088,588$13,497,777
76$15,331,137$11,365,202$10,381,081$14,547,287
77$16,848,006$11,875,190$10,681,941$15,692,320
78$18,518,118$12,408,690$10,991,402$16,942,192
79$20,357,058$12,966,808$11,309,705$18,307,151
80$22,381,997$13,550,701$11,637,099$19,798,471
81$24,611,859$14,161,583$11,973,840$21,428,561
82$27,067,493$14,800,725$12,320,189$23,211,073
83$29,771,877$15,469,460$12,676,415$25,161,035
84$32,750,329$16,169,184$13,042,794$27,294,983
85$36,030,746$16,901,358$13,419,612$29,631,122
86$39,643,873$17,667,515$13,807,159$32,189,489
87$43,623,585$18,469,260$14,205,736$34,992,142
88$48,007,212$19,308,276$14,615,651$38,063,363
89$52,835,892$20,186,325$15,037,219$41,429,887
90$58,154,953$21,105,256$15,470,766$45,121,149
91$64,014,347$22,067,002$15,916,625$49,169,557
92$70,469,119$23,073,593$16,375,140$53,610,799
93$77,579,924$24,127,154$16,846,663$58,484,168
94$85,413,604$25,229,913$17,331,554$63,832,937
95$94,043,817$26,384,203$17,830,186$69,704,758
96$103,551,729$27,592,472$18,342,940$76,152,112
97$114,026,784$28,857,282$18,870,207$83,232,794
98$125,567,548$30,181,321$19,412,391$91,010,457
99$138,282,635$31,567,403$19,969,903$99,555,211
100$152,291,738$33,018,480$20,543,170$108,944,272