Can I retire at age 71 with 5,800,000?

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 $5,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$478,959$474,692$470,530$466,467$462,500$459,585
2 years$237,108$232,692$228,413$224,263$220,238$217,298
3 years$156,502$152,067$147,798$143,688$139,728$136,854
4 years$116,207$111,785$107,559$103,519$99,655$96,869
5 years$92,036$87,641$83,470$79,512$75,756$73,066
6 years$75,927$71,566$67,456$63,587$59,943$57,352
7 years$64,426$60,101$56,057$52,278$48,750$46,260
8 years$55,803$51,517$47,540$43,855$40,443$38,053
9 years$49,101$44,855$40,947$37,355$34,059$31,769
10 years$43,742$39,538$35,698$32,200$29,020$26,829
11 years$39,360$35,198$31,428$28,024$24,958$22,865
12 years$35,711$31,592$27,892$24,580$21,628$19,631
13 years$32,626$28,550$24,919$21,701$18,860$16,957
14 years$29,984$25,951$22,390$19,264$16,533$14,721
15 years$27,696$23,707$20,215$17,180$14,557$12,834
16 years$25,696$21,750$18,328$15,383$12,865$11,229
17 years$23,933$20,031$16,678$13,821$11,407$9,855
18 years$22,368$18,510$15,225$12,456$10,143$8,672
19 years$20,970$17,155$13,938$11,255$9,040$7,648
20 years$19,712$15,941$12,791$10,193$8,075$6,758
21 years$18,576$14,848$11,765$9,251$7,226$5,982
22 years$17,545$13,860$10,844$8,411$6,477$5,303
23 years$16,605$12,963$10,012$7,660$5,814$4,708
24 years$15,744$12,146$9,260$6,987$5,226$4,184
25 years$14,953$11,398$8,576$6,381$4,703$3,722
26 years$14,225$10,713$7,954$5,834$4,236$3,314
27 years$13,551$10,082$7,386$5,340$3,819$2,953
28 years$12,927$9,500$6,866$4,893$3,446$2,633
29 years$12,347$8,962$6,390$4,487$3,112$2,350
30 years$11,806$8,464$5,952$4,118$2,812$2,098
31 years$11,302$8,001$5,549$3,782$2,542$1,874
32 years$10,830$7,571$5,177$3,476$2,299$1,674
33 years$10,387$7,170$4,834$3,196$2,081$1,497
34 years$9,971$6,795$4,516$2,941$1,884$1,338
35 years$9,580$6,445$4,222$2,707$1,706$1,197
36 years$9,212$6,117$3,950$2,493$1,546$1,071
37 years$8,864$5,810$3,697$2,297$1,401$959
38 years$8,535$5,522$3,462$2,117$1,270$858
39 years$8,224$5,250$3,244$1,952$1,152$768
40 years$7,930$4,995$3,040$1,801$1,045$688
41 years$7,650$4,755$2,851$1,661$948$616
42 years$7,384$4,529$2,674$1,533$860$552
43 years$7,132$4,315$2,509$1,415$781$495
44 years$6,891$4,113$2,355$1,307$709$443
45 years$6,662$3,922$2,212$1,207$643$397
46 years$6,444$3,742$2,077$1,115$584$356
47 years$6,235$3,571$1,952$1,030$530$319
48 years$6,036$3,409$1,834$952$482$286
49 years$5,845$3,255$1,724$880$437$256
50 years$5,663$3,109$1,621$813$397$230

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $5,800,000, adding $5,360 every year, while hoping to spend $54,865 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: 29/47/24 Blend
70$5,800,000$5,800,000$5,800,000$5,800,000
71$6,397,129$6,089,729$5,999,829$6,534,676
72$6,991,260$6,329,750$6,142,447$6,882,136
73$7,644,154$6,579,693$6,288,004$7,250,233
74$8,361,746$6,839,986$6,436,541$7,644,852
75$9,150,576$7,111,077$6,588,097$8,068,313
76$10,017,849$7,393,434$6,742,712$8,523,159
77$10,971,501$7,687,544$6,900,425$9,012,178
78$12,020,279$7,993,919$7,061,274$9,538,426
79$13,173,817$8,313,090$7,225,297$10,105,253
80$14,442,732$8,645,617$7,392,529$10,716,337
81$15,838,719$8,992,081$7,563,007$11,375,712
82$17,374,666$9,353,090$7,736,766$12,087,805
83$19,064,772$9,729,282$7,913,838$12,857,476
84$20,924,683$10,121,320$8,094,255$13,690,060
85$22,971,636$10,529,901$8,278,048$14,591,418
86$25,224,626$10,955,750$8,465,246$15,567,985
87$27,704,583$11,399,627$8,655,877$16,626,830
88$30,434,568$11,862,325$8,849,966$17,775,722
89$33,439,991$12,344,676$9,047,537$19,023,197
90$36,748,851$12,847,546$9,248,610$20,378,636
91$40,392,001$13,371,844$9,453,207$21,852,352
92$44,403,438$13,918,517$9,661,342$23,455,680
93$48,820,623$14,488,558$9,873,030$25,201,085
94$53,684,833$15,083,004$10,088,284$27,102,275
95$59,041,554$15,702,940$10,307,110$29,174,321
96$64,940,909$16,349,500$10,529,514$31,433,803
97$71,438,127$17,023,870$10,755,498$33,898,957
98$78,594,068$17,727,292$10,985,059$36,589,843
99$86,475,797$18,461,063$11,218,192$39,528,533
100$95,157,213$19,226,541$11,454,887$42,739,311