Can I retire at age 71 with 7,000,000?

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$578,053$572,904$567,881$562,978$558,190$550,303
2 years$286,165$280,836$275,670$270,662$265,805$257,874
3 years$188,882$183,529$178,377$173,416$168,637$160,909
4 years$140,249$134,913$129,813$124,936$120,274$112,808
5 years$111,078$105,774$100,740$95,963$91,430$84,248
6 years$91,636$86,372$81,413$76,743$72,346$65,456
7 years$77,755$72,535$67,655$63,094$58,836$52,242
8 years$67,349$62,176$57,376$52,928$48,810$42,510
9 years$59,259$54,135$49,418$45,083$41,105$35,096
10 years$52,792$47,718$43,084$38,862$35,024$29,301
11 years$47,503$42,480$37,930$33,822$30,122$24,680
12 years$43,099$38,128$33,662$29,666$26,103$20,936
13 years$39,376$34,457$30,075$26,191$22,762$17,862
14 years$36,187$31,320$27,023$23,249$19,953$15,313
15 years$33,426$28,611$24,398$20,734$17,568$13,180
16 years$31,013$26,250$22,120$18,565$15,527$11,383
17 years$28,885$24,176$20,128$16,681$13,767$9,858
18 years$26,996$22,339$18,375$15,033$12,241$8,558
19 years$25,308$20,704$16,821$13,583$10,911$7,444
20 years$23,791$19,239$15,438$12,302$9,746$6,487
21 years$22,420$17,921$14,200$11,165$8,721$5,662
22 years$21,175$16,728$13,087$10,152$7,817$4,948
23 years$20,040$15,645$12,084$9,245$7,017$4,329
24 years$19,001$14,659$11,175$8,432$6,307$3,791
25 years$18,047$13,757$10,351$7,701$5,676$3,323
26 years$17,168$12,929$9,600$7,041$5,112$2,915
27 years$16,355$12,168$8,914$6,445$4,609$2,558
28 years$15,601$11,466$8,287$5,905$4,159$2,247
29 years$14,901$10,816$7,712$5,415$3,756$1,974
30 years$14,249$10,215$7,183$4,970$3,393$1,735
31 years$13,640$9,657$6,697$4,564$3,068$1,526
32 years$13,070$9,137$6,248$4,195$2,775$1,343
33 years$12,536$8,653$5,834$3,857$2,512$1,181
34 years$12,034$8,201$5,451$3,549$2,274$1,040
35 years$11,562$7,779$5,096$3,267$2,060$915
36 years$11,118$7,383$4,767$3,009$1,866$806
37 years$10,698$7,012$4,462$2,772$1,691$710
38 years$10,301$6,664$4,179$2,555$1,533$625
39 years$9,926$6,337$3,915$2,356$1,390$551
40 years$9,570$6,029$3,669$2,173$1,261$485
41 years$9,233$5,739$3,441$2,005$1,144$428
42 years$8,912$5,466$3,228$1,850$1,038$377
43 years$8,607$5,208$3,029$1,708$942$332
44 years$8,317$4,964$2,843$1,577$855$293
45 years$8,041$4,734$2,669$1,457$776$258
46 years$7,777$4,516$2,507$1,345$705$227
47 years$7,525$4,309$2,355$1,243$640$200
48 years$7,285$4,114$2,213$1,149$581$177
49 years$7,055$3,928$2,080$1,062$528$156
50 years$6,834$3,753$1,956$981$480$137

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,000,000, adding $5,843 every year, while hoping to spend $24,758 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: 71/23/6 Blend
70$7,000,000$7,000,000$7,000,000$7,000,000
71$7,720,027$7,349,027$7,240,527$8,261,872
72$8,481,127$7,682,787$7,456,742$8,954,080
73$9,319,030$8,032,072$7,679,371$9,707,820
74$10,241,543$8,397,615$7,908,602$10,532,095
75$11,257,270$8,780,187$8,144,629$11,433,835
76$12,375,690$9,180,595$8,387,653$12,420,663
77$13,607,249$9,599,683$8,637,878$13,500,971
78$14,963,459$10,038,337$8,895,517$14,683,989
79$16,457,002$10,497,487$9,160,788$15,979,882
80$18,101,856$10,978,103$9,433,914$17,399,831
81$19,913,421$11,481,206$9,715,126$18,956,149
82$21,908,670$12,007,864$10,004,662$20,662,386
83$24,106,302$12,559,197$10,302,765$22,533,460
84$26,526,925$13,136,379$10,609,689$24,585,793
85$29,193,248$13,740,638$10,925,690$26,837,465
86$32,130,294$14,373,264$11,251,035$29,308,383
87$35,365,638$15,035,608$11,585,999$32,020,466
88$38,929,665$15,729,085$11,930,862$34,997,846
89$42,855,860$16,455,180$12,285,916$38,267,098
90$47,181,122$17,215,447$12,651,457$41,857,487
91$51,946,110$18,011,518$13,027,795$45,801,237
92$57,195,631$18,845,100$13,415,244$50,133,840
93$62,979,060$19,717,984$13,814,129$54,894,378
94$69,350,808$20,632,049$14,224,786$60,125,899
95$76,370,831$21,589,261$14,647,558$65,875,809
96$84,105,204$22,591,683$15,082,799$72,196,326
97$92,626,737$23,641,477$15,530,874$79,144,962
98$102,015,664$24,740,909$15,992,158$86,785,065
99$112,360,403$25,892,355$16,467,037$95,186,411
100$123,758,388$27,098,304$16,955,907$104,425,861