Can I retire at age 71 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$801,017$793,882$786,921$780,126$773,492$743,684
2 years$396,543$389,158$382,000$375,061$368,329$338,654
3 years$261,736$254,319$247,180$240,305$233,683$205,074
4 years$194,346$186,951$179,883$173,126$166,665$139,340
5 years$153,922$146,572$139,597$132,978$126,696$100,725
6 years$126,982$119,687$112,815$106,343$100,250$75,651
7 years$107,746$100,513$93,750$87,431$81,530$58,295
8 years$93,326$86,158$79,507$73,343$67,637$45,744
9 years$82,117$75,016$68,480$62,472$56,960$36,377
10 years$73,154$66,123$59,702$53,852$48,533$29,220
11 years$65,826$58,866$52,561$46,867$41,740$23,654
12 years$59,723$52,835$46,646$41,109$36,171$19,266
13 years$54,564$47,747$41,675$36,293$31,542$15,767
14 years$50,145$43,401$37,446$32,217$27,649$12,953
15 years$46,319$39,647$33,808$28,732$24,345$10,675
16 years$42,975$36,376$30,652$25,726$21,516$8,820
17 years$40,027$33,501$27,892$23,115$19,078$7,302
18 years$37,409$30,956$25,462$20,831$16,963$6,056
19 years$35,070$28,690$23,309$18,823$15,119$5,029
20 years$32,967$26,660$21,392$17,047$13,505$4,181
21 years$31,067$24,833$19,677$15,472$12,085$3,480
22 years$29,342$23,180$18,135$14,067$10,833$2,898
23 years$27,770$21,680$16,744$12,811$9,724$2,415
24 years$26,330$20,313$15,486$11,685$8,740$2,014
25 years$25,008$19,063$14,343$10,671$7,865$1,680
26 years$23,790$17,916$13,302$9,757$7,084$1,402
27 years$22,663$16,861$12,352$8,931$6,387$1,171
28 years$21,619$15,888$11,483$8,183$5,763$977
29 years$20,649$14,988$10,686$7,504$5,204$816
30 years$19,745$14,155$9,954$6,887$4,702$682
31 years$18,901$13,381$9,280$6,325$4,251$570
32 years$18,111$12,661$8,658$5,813$3,846$476
33 years$17,371$11,990$8,084$5,345$3,480$398
34 years$16,676$11,364$7,553$4,918$3,151$332
35 years$16,022$10,779$7,062$4,527$2,854$278
36 years$15,406$10,231$6,606$4,170$2,586$232
37 years$14,824$9,717$6,183$3,842$2,344$194
38 years$14,275$9,234$5,790$3,541$2,125$162
39 years$13,754$8,781$5,425$3,265$1,927$136
40 years$13,261$8,354$5,085$3,011$1,748$113
41 years$12,794$7,953$4,768$2,778$1,586$95
42 years$12,350$7,574$4,472$2,564$1,439$79
43 years$11,927$7,216$4,197$2,367$1,306$66
44 years$11,525$6,879$3,939$2,186$1,185$55
45 years$11,142$6,559$3,699$2,018$1,076$46
46 years$10,776$6,257$3,474$1,864$977$39
47 years$10,428$5,971$3,264$1,723$887$32
48 years$10,094$5,701$3,067$1,592$806$27
49 years$9,776$5,444$2,883$1,471$732$23
50 years$9,471$5,200$2,710$1,360$665$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $9,700,000, adding $4,623 every year, while hoping to spend $47,961 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: 30/44/26 Blend
70$9,700,000$9,700,000$9,700,000$9,700,000
71$10,694,169$10,180,069$10,029,719$10,929,000
72$11,733,944$10,627,862$10,314,684$11,559,403
73$12,878,168$11,095,990$10,607,588$12,232,557
74$14,137,446$11,585,397$10,908,647$12,955,763
75$15,523,459$12,097,076$11,218,081$13,733,402
76$17,049,082$12,632,062$11,536,116$14,570,267
77$18,728,499$13,191,443$11,862,986$15,471,615
78$20,577,338$13,776,357$12,198,929$16,443,199
79$22,612,824$14,387,995$12,544,190$17,491,331
80$24,853,931$15,027,607$12,899,020$18,622,928
81$27,321,572$15,696,499$13,263,677$19,845,577
82$30,038,786$16,396,042$13,638,424$21,167,597
83$33,030,965$17,127,671$14,023,534$22,598,118
84$36,326,085$17,892,888$14,419,284$24,147,158
85$39,954,975$18,693,269$14,825,959$25,825,712
86$43,951,606$19,530,463$15,243,853$27,645,852
87$48,353,412$20,406,197$15,673,264$29,620,831
88$53,201,643$21,322,284$16,114,501$31,765,206
89$58,541,753$22,280,618$16,567,879$34,094,963
90$64,423,830$23,283,187$17,033,722$36,627,666
91$70,903,071$24,332,073$17,512,361$39,382,613
92$78,040,296$25,429,456$18,004,137$42,381,009
93$85,902,529$26,577,623$18,509,399$45,646,162
94$94,563,627$27,778,966$19,028,503$49,203,689
95$104,104,977$29,035,995$19,561,818$53,081,754
96$114,616,264$30,351,338$20,109,718$57,311,321
97$126,196,318$31,727,749$20,672,589$61,926,439
98$138,954,047$33,168,114$21,250,826$66,964,549
99$153,009,465$34,675,456$21,844,833$72,466,834
100$168,494,822$36,252,945$22,455,026$78,478,590