Can I retire at age 71 with 8,800,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$726,696$720,223$713,907$707,743$701,724$680,625
2 years$359,750$353,050$346,557$340,261$334,154$313,075
3 years$237,451$230,722$224,245$218,009$212,001$191,603
4 years$176,314$169,605$163,193$157,063$151,201$131,639
5 years$139,641$132,973$126,645$120,639$114,941$96,269
6 years$115,200$108,582$102,348$96,476$90,949$73,184
7 years$97,749$91,187$85,051$79,318$73,966$57,107
8 years$84,667$78,164$72,130$66,538$61,362$45,398
9 years$74,498$68,056$62,126$56,676$51,675$36,591
10 years$66,367$59,988$54,163$48,855$44,030$29,803
11 years$59,718$53,404$47,684$42,519$37,867$24,473
12 years$54,182$47,932$42,318$37,295$32,815$20,226
13 years$49,501$43,317$37,809$32,925$28,615$16,803
14 years$45,493$39,374$33,971$29,228$25,084$14,018
15 years$42,022$35,969$30,671$26,066$22,086$11,735
16 years$38,987$33,001$27,808$23,339$19,520$9,851
17 years$36,313$30,392$25,304$20,970$17,307$8,289
18 years$33,938$28,084$23,100$18,898$15,389$6,988
19 years$31,816$26,028$21,147$17,076$13,717$5,900
20 years$29,908$24,186$19,407$15,466$12,252$4,989
21 years$28,185$22,529$17,851$14,036$10,964$4,223
22 years$26,620$21,030$16,452$12,762$9,828$3,578
23 years$25,193$19,669$15,191$11,623$8,822$3,034
24 years$23,887$18,428$14,049$10,601$7,929$2,575
25 years$22,688$17,294$13,012$9,681$7,135$2,186
26 years$21,582$16,254$12,068$8,852$6,427$1,857
27 years$20,560$15,296$11,206$8,102$5,795$1,578
28 years$19,613$14,414$10,418$7,423$5,229$1,342
29 years$18,733$13,598$9,695$6,807$4,721$1,141
30 years$17,913$12,842$9,030$6,248$4,266$970
31 years$17,147$12,140$8,419$5,738$3,857$826
32 years$16,431$11,487$7,855$5,273$3,489$703
33 years$15,760$10,878$7,334$4,849$3,157$598
34 years$15,129$10,310$6,852$4,462$2,859$509
35 years$14,536$9,779$6,407$4,107$2,589$433
36 years$13,976$9,281$5,993$3,783$2,346$369
37 years$13,449$8,815$5,609$3,485$2,126$314
38 years$12,950$8,378$5,253$3,212$1,928$267
39 years$12,478$7,966$4,922$2,962$1,748$228
40 years$12,031$7,579$4,613$2,732$1,585$194
41 years$11,607$7,215$4,325$2,521$1,438$165
42 years$11,204$6,871$4,057$2,326$1,305$141
43 years$10,820$6,547$3,807$2,147$1,185$120
44 years$10,456$6,240$3,574$1,983$1,075$102
45 years$10,108$5,951$3,356$1,831$976$87
46 years$9,777$5,677$3,152$1,691$886$74
47 years$9,460$5,417$2,961$1,563$805$63
48 years$9,158$5,172$2,783$1,444$731$54
49 years$8,869$4,939$2,615$1,335$664$46
50 years$8,592$4,718$2,459$1,233$603$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,800,000, adding $5,664 every year, while hoping to spend $24,663 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: 29/43/28 Blend
70$8,800,000$8,800,000$8,800,000$8,800,000
71$9,703,442$9,237,042$9,100,642$9,900,772
72$10,666,952$9,663,416$9,379,273$10,483,571
73$11,727,914$10,109,856$9,666,410$11,107,150
74$12,896,240$10,577,318$9,962,315$11,777,062
75$14,182,857$11,066,807$10,267,252$12,497,328
76$15,599,801$11,579,373$10,581,498$13,272,350
77$17,160,338$12,116,120$10,905,335$14,106,944
78$18,879,084$12,678,201$11,239,056$15,006,389
79$20,772,147$13,266,829$11,582,960$15,976,466
80$22,857,275$13,883,273$11,937,359$17,023,508
81$25,154,027$14,528,863$12,302,570$18,154,458
82$27,683,954$15,204,994$12,678,923$19,376,930
83$30,470,808$15,913,129$13,066,757$20,699,270
84$33,540,757$16,654,800$13,466,420$22,130,634
85$36,922,642$17,431,613$13,878,273$23,681,068
86$40,648,243$18,245,252$14,302,686$25,361,594
87$44,752,578$19,097,485$14,740,041$27,184,313
88$49,274,240$19,990,160$15,190,731$29,162,504
89$54,255,753$20,925,218$15,655,161$31,310,751
90$59,743,980$21,904,695$16,133,750$33,645,069
91$65,790,562$22,930,720$16,626,926$36,183,047
92$72,452,405$24,005,531$17,135,134$38,944,009
93$79,792,219$25,131,471$17,658,829$41,949,183
94$87,879,108$26,310,996$18,198,483$45,221,900
95$96,789,225$27,546,683$18,754,580$48,787,798
96$106,606,487$28,841,232$19,327,620$52,675,058
97$117,423,370$30,197,473$19,918,116$56,914,660
98$129,341,780$31,618,375$20,526,599$61,540,662
99$142,474,016$33,107,050$21,153,615$66,590,516
100$156,943,831$34,666,761$21,799,726$72,105,404