Can I retire at age 71 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$511,990$507,430$502,980$498,637$494,397$484,613
2 years$253,460$248,740$244,165$239,729$235,427$225,611
3 years$167,295$162,554$157,991$153,597$149,365$139,823
4 years$124,221$119,495$114,977$110,658$106,528$97,334
5 years$98,383$93,685$89,227$84,996$80,981$72,161
6 years$81,164$76,501$72,109$67,972$64,077$55,641
7 years$68,869$64,245$59,923$55,883$52,112$44,061
8 years$59,652$55,070$50,819$46,879$43,232$35,564
9 years$52,487$47,949$43,770$39,931$36,408$29,118
10 years$46,758$42,264$38,160$34,421$31,021$24,102
11 years$42,074$37,625$33,596$29,956$26,679$20,123
12 years$38,174$33,771$29,815$26,276$23,120$16,917
13 years$34,876$30,519$26,638$23,198$20,161$14,301
14 years$32,052$27,741$23,934$20,592$17,673$12,145
15 years$29,606$25,342$21,609$18,365$15,561$10,354
16 years$27,468$23,250$19,592$16,443$13,752$8,854
17 years$25,584$21,413$17,828$14,774$12,194$7,592
18 years$23,911$19,786$16,275$13,315$10,842$6,524
19 years$22,416$18,338$14,899$12,031$9,664$5,617
20 years$21,072$17,040$13,673$10,896$8,632$4,844
21 years$19,857$15,872$12,577$9,889$7,725$4,183
22 years$18,755$14,816$11,591$8,991$6,924$3,617
23 years$17,750$13,857$10,703$8,189$6,215$3,130
24 years$16,830$12,984$9,898$7,469$5,587$2,711
25 years$15,985$12,184$9,168$6,821$5,027$2,350
26 years$15,206$11,451$8,503$6,237$4,528$2,039
27 years$14,486$10,777$7,895$5,708$4,083$1,769
28 years$13,818$10,155$7,340$5,230$3,684$1,536
29 years$13,198$9,580$6,830$4,796$3,326$1,335
30 years$12,621$9,048$6,362$4,402$3,006$1,160
31 years$12,081$8,553$5,931$4,043$2,717$1,008
32 years$11,576$8,093$5,534$3,715$2,458$877
33 years$11,103$7,664$5,167$3,416$2,224$762
34 years$10,659$7,264$4,828$3,143$2,014$663
35 years$10,241$6,890$4,514$2,894$1,824$577
36 years$9,847$6,539$4,222$2,665$1,653$502
37 years$9,475$6,211$3,952$2,455$1,498$437
38 years$9,124$5,902$3,701$2,263$1,358$380
39 years$8,791$5,613$3,467$2,087$1,232$331
40 years$8,476$5,340$3,250$1,925$1,117$288
41 years$8,177$5,083$3,047$1,776$1,013$251
42 years$7,894$4,841$2,859$1,639$920$218
43 years$7,624$4,612$2,682$1,513$835$190
44 years$7,366$4,397$2,518$1,397$758$166
45 years$7,122$4,193$2,364$1,290$688$144
46 years$6,888$4,000$2,221$1,192$624$126
47 years$6,665$3,817$2,086$1,101$567$109
48 years$6,452$3,644$1,960$1,017$515$95
49 years$6,248$3,480$1,843$940$468$83
50 years$6,053$3,324$1,732$869$425$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,200,000, adding $4,195 every year, while hoping to spend $34,288 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: 45/46/9 Blend
70$6,200,000$6,200,000$6,200,000$6,200,000
71$6,836,727$6,508,127$6,412,027$7,126,870
72$7,497,591$6,790,543$6,590,348$7,610,372
73$8,224,714$7,085,648$6,773,493$8,130,470
74$9,024,818$7,394,029$6,961,588$8,693,628
75$9,905,310$7,716,296$7,154,762$9,303,826
76$10,874,351$8,053,094$7,353,146$9,965,435
77$11,940,933$8,405,094$7,556,875$10,683,250
78$13,114,965$8,773,000$7,766,086$11,462,537
79$14,407,363$9,157,549$7,980,922$12,309,080
80$15,830,159$9,559,514$8,201,528$13,229,229
81$17,396,606$9,979,701$8,428,050$14,229,963
82$19,121,313$10,418,959$8,660,642$15,318,948
83$21,020,372$10,878,173$8,899,459$16,504,606
84$23,111,518$11,358,272$9,144,660$17,796,195
85$25,414,295$11,860,229$9,396,407$19,203,892
86$27,950,235$12,385,062$9,654,869$20,738,881
87$30,743,066$12,933,838$9,920,214$22,413,460
88$33,818,937$13,507,674$10,192,619$24,241,152
89$37,206,658$14,107,740$10,472,262$26,236,825
90$40,937,981$14,735,262$10,759,326$28,416,832
91$45,047,889$15,391,525$11,053,998$30,799,162
92$49,574,937$16,077,873$11,356,471$33,403,598
93$54,561,607$16,795,715$11,666,939$36,251,906
94$60,054,713$17,546,527$11,985,603$39,368,032
95$66,105,843$18,331,856$12,312,670$42,778,324
96$72,771,842$19,153,320$12,648,347$46,511,773
97$80,115,354$20,012,617$12,992,851$50,600,283
98$88,205,409$20,911,524$13,346,401$55,078,963
99$97,118,076$21,851,904$13,709,220$59,986,457
100$106,937,180$22,835,707$14,081,539$65,365,296