Can I retire at age 71 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$734,954$728,407$722,020$715,786$709,698$702,579
2 years$363,838$357,062$350,495$344,128$337,952$330,781
3 years$240,150$233,344$226,794$220,486$214,410$207,411
4 years$178,317$171,533$165,048$158,848$152,919$146,145
5 years$141,228$134,484$128,084$122,010$116,247$109,718
6 years$116,509$109,816$103,511$97,573$91,982$85,706
7 years$98,860$92,223$86,018$80,220$74,806$68,785
8 years$85,629$79,052$72,950$67,294$62,059$56,294
9 years$75,344$68,829$62,832$57,320$52,263$46,751
10 years$67,121$60,670$54,778$49,410$44,530$39,268
11 years$60,397$54,011$48,226$43,002$38,298$33,281
12 years$54,798$48,477$42,799$37,718$33,188$28,412
13 years$50,064$43,809$38,238$33,300$28,940$24,400
14 years$46,010$39,821$34,357$29,560$25,369$21,058
15 years$42,499$36,377$31,020$26,362$22,337$18,248
16 years$39,430$33,376$28,124$23,604$19,741$15,868
17 years$36,726$30,738$25,592$21,208$17,504$13,839
18 years$34,324$28,403$23,362$19,113$15,564$12,101
19 years$32,178$26,324$21,387$17,270$13,872$10,603
20 years$30,248$24,461$19,628$15,642$12,391$9,308
21 years$28,505$22,785$18,054$14,196$11,089$8,185
22 years$26,922$21,269$16,639$12,907$9,939$7,207
23 years$25,479$19,892$15,363$11,755$8,922$6,354
24 years$24,159$18,638$14,209$10,721$8,019$5,608
25 years$22,946$17,490$13,160$9,791$7,216$4,954
26 years$21,828$16,438$12,205$8,952$6,500$4,380
27 years$20,794$15,470$11,334$8,194$5,860$3,876
28 years$19,836$14,578$10,536$7,508$5,288$3,431
29 years$18,946$13,752$9,805$6,885$4,775$3,039
30 years$18,117$12,988$9,133$6,319$4,314$2,694
31 years$17,342$12,278$8,514$5,803$3,901$2,388
32 years$16,618$11,617$7,944$5,333$3,528$2,119
33 years$15,939$11,002$7,417$4,904$3,193$1,880
34 years$15,301$10,427$6,930$4,512$2,891$1,668
35 years$14,701$9,890$6,479$4,154$2,619$1,481
36 years$14,135$9,387$6,061$3,826$2,373$1,315
37 years$13,602$8,915$5,673$3,525$2,150$1,168
38 years$13,097$8,473$5,313$3,249$1,949$1,038
39 years$12,620$8,057$4,977$2,996$1,768$922
40 years$12,168$7,665$4,665$2,763$1,604$819
41 years$11,739$7,297$4,375$2,549$1,455$728
42 years$11,331$6,949$4,104$2,353$1,320$647
43 years$10,943$6,621$3,851$2,172$1,198$575
44 years$10,574$6,311$3,614$2,005$1,087$512
45 years$10,223$6,018$3,394$1,852$987$455
46 years$9,888$5,741$3,188$1,711$896$404
47 years$9,568$5,479$2,995$1,580$814$360
48 years$9,262$5,230$2,814$1,460$739$320
49 years$8,969$4,995$2,645$1,350$671$284
50 years$8,690$4,771$2,487$1,248$610$253

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,900,000, adding $2,934 every year, while hoping to spend $35,375 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: 54/32/14 Blend
70$8,900,000$8,900,000$8,900,000$8,900,000
71$9,810,826$9,339,126$9,201,176$10,304,274
72$10,773,892$9,759,105$9,471,777$11,060,575
73$11,834,005$10,198,477$9,750,257$11,879,298
74$13,001,026$10,658,155$10,036,844$12,769,632
75$14,285,822$11,139,096$10,331,769$13,738,399
76$15,700,365$11,642,301$10,635,273$14,793,094
77$17,257,850$12,168,822$10,947,603$15,941,957
78$18,972,814$12,719,757$11,269,011$17,194,044
79$20,861,277$13,296,260$11,599,758$18,559,315
80$22,940,889$13,899,539$11,940,112$20,048,716
81$25,231,102$14,530,859$12,290,348$21,674,288
82$27,753,350$15,191,547$12,650,750$23,449,271
83$30,531,250$15,882,991$13,021,608$25,388,229
84$33,590,828$16,606,648$13,403,223$27,507,182
85$36,960,763$17,364,045$13,795,902$29,823,753
86$40,672,657$18,156,779$14,199,961$32,357,329
87$44,761,334$18,986,527$14,615,725$35,129,244
88$49,265,169$19,855,045$15,043,530$38,162,971
89$54,226,447$20,764,173$15,483,719$41,484,342
90$59,691,766$21,715,839$15,936,646$45,121,785
91$65,712,476$22,712,065$16,402,673$49,106,588
92$72,345,161$23,754,969$16,882,175$53,473,189
93$79,652,176$24,846,771$17,375,536$58,259,494
94$87,702,232$25,989,797$17,883,151$63,507,230
95$96,571,048$27,186,485$18,405,425$69,262,335
96$106,342,063$28,439,391$18,942,775$75,575,378
97$117,107,227$29,751,195$19,495,631$82,502,039
98$128,967,862$31,124,702$20,064,433$90,103,619
99$142,035,627$32,562,855$20,649,635$98,447,617
100$156,433,565$34,068,739$21,251,701$107,608,357