Can I retire at age 71 with 7,500,000?

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 $7,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$619,343$613,826$608,444$603,190$598,061$580,545
2 years$306,605$300,895$295,361$289,995$284,791$267,286
3 years$202,373$196,638$191,118$185,803$180,683$163,737
4 years$150,267$144,550$139,085$133,860$128,865$112,609
5 years$119,012$113,329$107,936$102,818$97,961$82,438
6 years$98,182$92,542$87,228$82,224$77,513$62,738
7 years$83,309$77,716$72,487$67,601$63,039$49,012
8 years$72,160$66,617$61,475$56,709$52,297$39,009
9 years$63,492$58,002$52,948$48,303$44,041$31,479
10 years$56,562$51,126$46,161$41,638$37,526$25,672
11 years$50,896$45,515$40,640$36,237$32,273$21,108
12 years$46,178$40,851$36,067$31,785$27,967$17,468
13 years$42,189$36,918$32,223$28,062$24,388$14,532
14 years$38,772$33,557$28,953$24,910$21,378$12,140
15 years$35,814$30,655$26,140$22,215$18,823$10,176
16 years$33,228$28,126$23,700$19,891$16,636$8,555
17 years$30,948$25,903$21,566$17,872$14,751$7,209
18 years$28,925$23,935$19,687$16,106$13,116$6,086
19 years$27,116$22,183$18,023$14,554$11,690$5,147
20 years$25,490$20,613$16,540$13,181$10,442$4,359
21 years$24,021$19,201$15,214$11,963$9,344$3,695
22 years$22,687$17,923$14,022$10,877$8,376$3,136
23 years$21,471$16,763$12,947$9,906$7,519$2,664
24 years$20,358$15,706$11,974$9,035$6,758$2,264
25 years$19,336$14,739$11,090$8,251$6,081$1,925
26 years$18,394$13,852$10,285$7,544$5,478$1,638
27 years$17,523$13,037$9,551$6,905$4,939$1,394
28 years$16,716$12,284$8,879$6,327$4,456$1,187
29 years$15,966$11,589$8,262$5,802$4,024$1,011
30 years$15,267$10,945$7,696$5,325$3,636$862
31 years$14,614$10,346$7,175$4,890$3,287$734
32 years$14,004$9,790$6,694$4,494$2,973$626
33 years$13,431$9,271$6,251$4,133$2,691$533
34 years$12,894$8,787$5,840$3,803$2,436$455
35 years$12,388$8,334$5,460$3,500$2,207$388
36 years$11,912$7,910$5,108$3,224$1,999$331
37 years$11,462$7,513$4,781$2,970$1,812$282
38 years$11,037$7,140$4,477$2,738$1,643$241
39 years$10,635$6,789$4,194$2,524$1,490$205
40 years$10,254$6,460$3,931$2,328$1,351$175
41 years$9,892$6,149$3,686$2,148$1,226$149
42 years$9,549$5,856$3,458$1,983$1,112$127
43 years$9,222$5,580$3,245$1,830$1,010$109
44 years$8,911$5,319$3,046$1,690$916$93
45 years$8,615$5,072$2,860$1,561$832$79
46 years$8,332$4,838$2,686$1,442$755$67
47 years$8,063$4,617$2,524$1,332$686$58
48 years$7,805$4,408$2,372$1,231$623$49
49 years$7,558$4,209$2,229$1,137$566$42
50 years$7,323$4,021$2,096$1,051$514$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $7,500,000, adding $3,487 every year, while hoping to spend $22,130 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: 71/17/12 Blend
70$7,500,000$7,500,000$7,500,000$7,500,000
71$8,268,597$7,871,097$7,754,847$8,834,619
72$9,088,448$8,233,234$7,991,088$9,572,267
73$9,991,181$8,612,375$8,234,502$10,376,447
74$10,985,229$9,009,329$8,485,305$11,256,168
75$12,079,880$9,424,944$8,743,720$12,218,877
76$13,285,372$9,860,110$9,009,979$13,272,771
77$14,612,984$10,315,759$9,284,317$14,426,872
78$16,075,147$10,792,870$9,566,980$15,691,110
79$17,685,556$11,292,465$9,858,218$17,076,414
80$19,459,306$11,815,619$10,158,292$18,594,819
81$21,413,028$12,363,457$10,467,467$20,259,570
82$23,565,049$12,937,158$10,786,020$22,085,253
83$25,935,564$13,537,960$11,114,232$24,087,923
84$28,546,829$14,167,157$11,452,396$26,285,262
85$31,423,367$14,826,109$11,800,813$28,696,735
86$34,592,202$15,516,240$12,159,791$31,343,780
87$38,083,113$16,239,042$12,529,650$34,250,003
88$41,928,916$16,996,080$12,910,719$37,441,399
89$46,165,772$17,788,995$13,303,335$40,946,596
90$50,833,531$18,619,506$13,707,847$44,797,123
91$55,976,106$19,489,416$14,124,614$49,027,705
92$61,641,885$20,400,614$14,554,006$53,676,585
93$67,884,196$21,355,082$14,996,403$58,785,887
94$74,761,799$22,354,897$15,452,198$64,402,006
95$82,339,450$23,402,235$15,921,794$70,576,048
96$90,688,509$24,499,379$16,405,609$77,364,302
97$99,887,609$25,648,721$16,904,070$84,828,777
98$110,023,408$26,852,771$17,417,618$93,037,773
99$121,191,397$28,114,158$17,946,710$102,066,533
100$133,496,807$29,435,639$18,491,812$111,997,941