Can I retire at age 71 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$602,827$597,458$592,219$587,105$582,112$560,123
2 years$298,429$292,871$287,485$282,262$277,196$255,297
3 years$196,977$191,395$186,022$180,848$175,865$154,746
4 years$146,260$140,695$135,376$130,291$125,428$105,250
5 years$115,838$110,307$105,057$100,076$95,349$76,163
6 years$95,564$90,074$84,902$80,031$75,446$57,266
7 years$81,087$75,644$70,554$65,798$61,358$44,179
8 years$70,235$64,841$59,835$55,197$50,902$34,708
9 years$61,799$56,456$51,536$47,015$42,867$27,634
10 years$55,054$49,763$44,930$40,528$36,525$22,226
11 years$49,539$44,301$39,556$35,271$31,413$18,016
12 years$44,947$39,762$35,105$30,938$27,221$14,693
13 years$41,064$35,933$31,364$27,313$23,738$12,041
14 years$37,738$32,662$28,181$24,246$20,808$9,906
15 years$34,859$29,838$25,443$21,623$18,321$8,176
16 years$32,342$27,376$23,068$19,361$16,192$6,765
17 years$30,123$25,212$20,991$17,396$14,357$5,609
18 years$28,153$23,297$19,162$15,677$12,766$4,658
19 years$26,393$21,591$17,542$14,165$11,378$3,875
20 years$24,810$20,064$16,099$12,830$10,163$3,226
21 years$23,381$18,689$14,808$11,644$9,095$2,689
22 years$22,082$17,445$13,648$10,587$8,153$2,243
23 years$20,899$16,316$12,602$9,642$7,318$1,872
24 years$19,816$15,287$11,654$8,794$6,578$1,564
25 years$18,821$14,346$10,794$8,031$5,919$1,307
26 years$17,904$13,483$10,011$7,343$5,332$1,092
27 years$17,056$12,689$9,296$6,721$4,807$913
28 years$16,270$11,957$8,642$6,158$4,337$764
29 years$15,540$11,280$8,042$5,647$3,916$639
30 years$14,860$10,653$7,491$5,183$3,539$535
31 years$14,225$10,070$6,984$4,760$3,199$447
32 years$13,630$9,529$6,516$4,374$2,894$374
33 years$13,073$9,024$6,084$4,023$2,619$313
34 years$12,550$8,552$5,684$3,701$2,371$262
35 years$12,058$8,112$5,314$3,407$2,148$220
36 years$11,594$7,699$4,972$3,138$1,946$184
37 years$11,156$7,313$4,653$2,891$1,764$154
38 years$10,743$6,950$4,358$2,665$1,599$129
39 years$10,351$6,608$4,083$2,457$1,450$108
40 years$9,980$6,287$3,827$2,266$1,315$90
41 years$9,628$5,985$3,588$2,091$1,193$76
42 years$9,294$5,700$3,366$1,930$1,083$63
43 years$8,976$5,431$3,158$1,781$983$53
44 years$8,673$5,177$2,965$1,645$892$44
45 years$8,385$4,936$2,784$1,519$810$37
46 years$8,110$4,709$2,615$1,403$735$31
47 years$7,848$4,494$2,456$1,296$668$26
48 years$7,597$4,290$2,308$1,198$606$22
49 years$7,357$4,097$2,170$1,107$551$18
50 years$7,127$3,913$2,040$1,023$500$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,300,000, adding $5,927 every year, while hoping to spend $35,946 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: 51/24/25 Blend
70$7,300,000$7,300,000$7,300,000$7,300,000
71$8,050,714$7,663,814$7,550,664$8,404,565
72$8,833,640$8,001,094$7,765,365$8,988,174
73$9,695,221$8,353,697$7,986,053$9,618,278
74$10,643,439$8,722,334$8,212,892$10,302,703
75$11,687,094$9,107,753$8,446,049$11,046,625
76$12,835,880$9,510,735$8,685,694$11,855,734
77$14,100,478$9,932,100$8,932,003$12,736,285
78$15,492,659$10,372,704$9,185,156$13,695,155
79$17,025,390$10,833,447$9,445,339$14,739,907
80$18,712,963$11,315,269$9,712,741$15,878,858
81$20,571,125$11,819,157$9,987,558$17,121,158
82$22,617,227$12,346,142$10,269,988$18,476,870
83$24,870,388$12,897,307$10,560,236$19,957,064
84$27,351,677$13,473,784$10,858,513$21,573,922
85$30,084,309$14,076,761$11,165,035$23,340,845
86$33,093,867$14,707,481$11,480,022$25,272,581
87$36,408,540$15,367,246$11,803,701$27,385,361
88$40,059,391$16,057,421$12,136,306$29,697,046
89$44,080,650$16,779,436$12,478,073$32,227,296
90$48,510,037$17,534,789$12,829,249$34,997,749
91$53,389,115$18,325,048$13,190,083$38,032,227
92$58,763,688$19,151,858$13,560,834$41,356,952
93$64,684,227$20,016,942$13,941,765$45,000,791
94$71,206,350$20,922,104$14,333,146$48,995,528
95$78,391,346$21,869,236$14,735,255$53,376,157
96$86,306,753$22,860,318$15,148,376$58,181,206
97$95,026,996$23,897,428$15,572,800$63,453,103
98$104,634,087$24,982,740$16,008,827$69,238,566
99$115,218,404$26,118,533$16,456,762$75,589,041
100$126,879,537$27,307,198$16,916,919$82,561,183