Can I retire at age 71 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$569,796$564,720$559,768$554,935$550,216$529,012
2 years$282,077$276,824$271,732$266,796$262,007$240,898
3 years$186,183$180,907$175,829$170,939$166,228$145,877
4 years$138,246$132,986$127,958$123,152$118,555$99,118
5 years$109,491$104,263$99,301$94,592$90,124$71,650
6 years$90,327$85,138$80,250$75,646$71,312$53,814
7 years$76,644$71,499$66,688$62,193$57,996$41,468
8 years$66,387$61,288$56,557$52,172$48,113$32,539
9 years$58,413$53,362$48,712$44,439$40,518$25,876
10 years$52,037$47,036$42,468$38,307$34,524$20,785
11 years$46,825$41,873$37,389$33,338$29,691$16,826
12 years$42,484$37,583$33,181$29,242$25,730$13,704
13 years$38,814$33,964$29,645$25,817$22,437$11,216
14 years$35,670$30,873$26,637$22,917$19,668$9,214
15 years$32,949$28,203$24,049$20,438$17,317$7,594
16 years$30,570$25,875$21,804$18,300$15,305$6,274
17 years$28,473$23,830$19,841$16,442$13,571$5,194
18 years$26,611$22,020$18,112$14,818$12,066$4,308
19 years$24,947$20,408$16,581$13,389$10,755$3,577
20 years$23,451$18,964$15,217$12,127$9,607$2,974
21 years$22,099$17,665$13,997$11,006$8,597$2,475
22 years$20,872$16,489$12,900$10,007$7,706$2,062
23 years$19,754$15,422$11,911$9,113$6,917$1,718
24 years$18,730$14,449$11,016$8,312$6,217$1,433
25 years$17,789$13,560$10,203$7,591$5,595$1,195
26 years$16,922$12,744$9,463$6,941$5,039$997
27 years$16,121$11,994$8,787$6,353$4,543$833
28 years$15,379$11,302$8,168$5,821$4,100$695
29 years$14,688$10,662$7,601$5,338$3,702$581
30 years$14,045$10,069$7,080$4,899$3,345$485
31 years$13,445$9,519$6,601$4,499$3,024$405
32 years$12,883$9,006$6,159$4,135$2,736$339
33 years$12,357$8,529$5,750$3,802$2,476$283
34 years$11,862$8,084$5,373$3,498$2,241$237
35 years$11,397$7,667$5,023$3,220$2,030$198
36 years$10,959$7,277$4,699$2,966$1,839$165
37 years$10,545$6,912$4,398$2,733$1,667$138
38 years$10,154$6,569$4,119$2,519$1,511$115
39 years$9,784$6,246$3,859$2,322$1,371$97
40 years$9,433$5,943$3,617$2,142$1,243$81
41 years$9,101$5,657$3,392$1,976$1,128$67
42 years$8,785$5,388$3,181$1,824$1,023$56
43 years$8,484$5,133$2,985$1,684$929$47
44 years$8,198$4,893$2,802$1,555$843$39
45 years$7,926$4,666$2,631$1,436$765$33
46 years$7,666$4,451$2,471$1,326$695$28
47 years$7,418$4,248$2,322$1,225$631$23
48 years$7,180$4,055$2,182$1,132$573$19
49 years$6,954$3,872$2,051$1,046$520$16
50 years$6,737$3,699$1,928$967$473$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $6,900,000, adding $3,285 every year, while hoping to spend $55,342 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: 63/11/26 Blend
70$6,900,000$6,900,000$6,900,000$6,900,000
71$7,607,188$7,241,488$7,134,538$8,033,818
72$8,324,238$7,537,438$7,314,662$8,619,068
73$9,112,572$7,846,034$7,498,965$9,251,655
74$9,979,403$8,167,838$7,687,529$9,941,412
75$10,932,677$8,503,437$7,880,436$10,693,948
76$11,981,149$8,853,445$8,077,770$11,515,433
77$13,134,466$9,218,503$8,279,614$12,412,661
78$14,403,255$9,599,283$8,486,055$13,393,111
79$15,799,226$9,996,487$8,697,177$14,465,017
80$17,335,282$10,410,850$8,913,067$15,637,445
81$19,025,639$10,843,139$9,133,813$16,920,376
82$20,885,959$11,294,159$9,359,501$18,324,802
83$22,933,503$11,764,749$9,590,220$19,862,827
84$25,187,288$12,255,789$9,826,060$21,547,777
85$27,668,268$12,768,198$10,067,109$23,394,332
86$30,399,531$13,302,940$10,313,458$25,418,657
87$33,406,520$13,861,021$10,565,195$27,638,555
88$36,717,269$14,443,495$10,822,413$30,073,635
89$40,362,667$15,051,463$11,085,201$32,745,495
90$44,376,753$15,686,079$11,353,649$35,677,924
91$48,797,035$16,348,550$11,627,849$38,897,126
92$53,664,842$17,040,138$11,907,891$42,431,963
93$59,025,716$17,762,165$12,193,866$46,314,233
94$64,929,841$18,516,013$12,485,863$50,578,959
95$71,432,518$19,303,131$12,783,972$55,264,725
96$78,594,682$20,125,032$13,088,283$60,414,037
97$86,483,483$20,983,301$13,398,883$66,073,719
98$95,172,914$21,879,599$13,715,861$72,295,358
99$104,744,512$22,815,660$14,039,304$79,135,785
100$115,288,128$23,793,304$14,369,297$86,657,615