Can I retire at age 71 with 6,700,000?

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$553,280$548,351$543,543$538,850$534,267$522,626
2 years$273,901$268,800$263,856$259,063$254,413$242,743
3 years$180,787$175,664$170,732$165,984$161,410$150,076
4 years$134,239$129,131$124,249$119,582$115,119$104,208
5 years$106,317$101,241$96,423$91,850$87,512$77,055
6 years$87,709$82,671$77,924$73,454$69,245$59,253
7 years$74,423$69,427$64,755$60,390$56,315$46,789
8 years$64,463$59,511$54,917$50,660$46,718$37,657
9 years$56,720$51,815$47,300$43,151$39,344$30,739
10 years$50,529$45,673$41,238$37,197$33,523$25,366
11 years$45,467$40,660$36,305$32,372$28,831$21,111
12 years$41,252$36,494$32,220$28,395$24,984$17,690
13 years$37,689$32,980$28,786$25,068$21,787$14,905
14 years$34,636$29,978$25,864$22,253$19,098$12,615
15 years$31,994$27,385$23,352$19,846$16,815$10,717
16 years$29,684$25,125$21,172$17,770$14,862$9,132
17 years$27,647$23,140$19,266$15,966$13,177$7,802
18 years$25,839$21,382$17,587$14,388$11,717$6,680
19 years$24,224$19,817$16,100$13,001$10,443$5,730
20 years$22,771$18,415$14,776$11,775$9,328$4,923
21 years$21,459$17,152$13,591$10,687$8,348$4,235
22 years$20,267$16,011$12,526$9,717$7,482$3,648
23 years$19,181$14,975$11,566$8,849$6,717$3,145
24 years$18,187$14,031$10,696$8,071$6,037$2,713
25 years$17,274$13,167$9,907$7,371$5,432$2,343
26 years$16,432$12,375$9,188$6,739$4,893$2,024
27 years$15,654$11,646$8,532$6,169$4,412$1,749
28 years$14,933$10,974$7,932$5,652$3,981$1,513
29 years$14,263$10,353$7,381$5,183$3,595$1,309
30 years$13,638$9,777$6,875$4,757$3,248$1,133
31 years$13,055$9,243$6,410$4,369$2,936$981
32 years$12,510$8,745$5,980$4,015$2,656$849
33 years$11,999$8,282$5,584$3,692$2,404$735
34 years$11,519$7,850$5,217$3,397$2,176$637
35 years$11,067$7,445$4,878$3,127$1,971$552
36 years$10,641$7,067$4,563$2,880$1,786$478
37 years$10,239$6,712$4,271$2,654$1,619$414
38 years$9,860$6,378$3,999$2,446$1,468$359
39 years$9,500$6,065$3,747$2,255$1,331$311
40 years$9,160$5,771$3,512$2,080$1,207$270
41 years$8,837$5,493$3,293$1,919$1,095$234
42 years$8,530$5,231$3,089$1,771$994$203
43 years$8,238$4,984$2,899$1,635$902$176
44 years$7,961$4,751$2,721$1,510$819$152
45 years$7,696$4,531$2,555$1,394$743$132
46 years$7,444$4,322$2,400$1,288$675$115
47 years$7,203$4,125$2,254$1,190$613$99
48 years$6,972$3,938$2,119$1,099$556$86
49 years$6,752$3,760$1,991$1,016$505$75
50 years$6,542$3,592$1,872$939$459$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,700,000, adding $5,576 every year, while hoping to spend $42,645 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: 50/20/30 Blend
70$6,700,000$6,700,000$6,700,000$6,700,000
71$7,389,152$7,034,052$6,930,202$7,695,468
72$8,097,471$7,333,346$7,116,989$8,210,080
73$8,876,610$7,645,877$7,308,605$8,764,466
74$9,733,747$7,972,247$7,505,166$9,366,269
75$10,676,791$8,313,089$7,706,791$10,020,016
76$11,714,456$8,669,064$7,913,601$10,730,686
77$12,856,346$9,040,863$8,125,722$11,503,754
78$14,113,039$9,429,211$8,343,280$12,345,239
79$15,496,194$9,834,867$8,566,404$13,261,766
80$17,018,654$10,258,624$8,795,227$14,260,618
81$18,694,573$10,701,313$9,029,884$15,349,811
82$20,539,547$11,163,805$9,270,513$16,538,163
83$22,570,759$11,647,010$9,517,253$17,835,377
84$24,807,145$12,151,881$9,770,249$19,252,131
85$27,269,568$12,679,418$10,029,647$20,800,177
86$29,981,019$13,230,664$10,295,595$22,492,447
87$32,966,831$13,806,716$10,568,246$24,343,177
88$36,254,921$14,408,718$10,847,755$26,368,037
89$39,876,048$15,037,870$11,134,280$28,584,278
90$43,864,109$15,695,429$11,427,983$31,010,889
91$48,256,454$16,382,711$11,729,026$33,668,779
92$53,094,242$17,101,094$12,037,578$36,580,965
93$58,422,826$17,852,019$12,353,808$39,772,795
94$64,292,185$18,636,998$12,677,891$43,272,176
95$70,757,390$19,457,614$13,010,003$47,109,841
96$77,879,130$20,315,522$13,350,324$51,319,632
97$85,724,278$21,212,460$13,699,037$55,938,818
98$94,366,528$22,150,244$14,056,328$61,008,443
99$103,887,086$23,130,778$14,422,387$66,573,710
100$114,375,439$24,156,057$14,797,408$72,684,405