Can I retire at age 71 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$660,633$654,748$649,007$643,403$637,931$631,269
2 years$327,046$320,955$315,052$309,328$303,777$297,068
3 years$215,865$209,748$203,859$198,190$192,728$186,181
4 years$160,285$154,187$148,357$142,785$137,456$131,120
5 years$126,946$120,884$115,131$109,672$104,492$98,386
6 years$104,727$98,711$93,043$87,706$82,681$76,813
7 years$88,863$82,897$77,319$72,108$67,241$61,614
8 years$76,970$71,058$65,573$60,489$55,783$50,396
9 years$67,725$61,869$56,478$51,524$46,978$41,828
10 years$60,333$54,535$49,239$44,414$40,027$35,112
11 years$54,289$48,549$43,349$38,653$34,425$29,741
12 years$49,256$43,575$38,471$33,904$29,832$25,373
13 years$45,001$39,379$34,371$29,932$26,014$21,776
14 years$41,357$35,794$30,883$26,571$22,804$18,781
15 years$38,201$32,699$27,883$23,696$20,078$16,264
16 years$35,443$30,001$25,280$21,217$17,745$14,133
17 years$33,012$27,629$23,004$19,064$15,734$12,318
18 years$30,853$25,531$21,000$17,180$13,990$10,762
19 years$28,924$23,662$19,224$15,524$12,470$9,424
20 years$27,189$21,988$17,643$14,060$11,138$8,267
21 years$25,622$20,481$16,228$12,760$9,967$7,264
22 years$24,200$19,118$14,957$11,602$8,934$6,391
23 years$22,903$17,881$13,810$10,566$8,020$5,631
24 years$21,716$16,753$12,772$9,637$7,208$4,966
25 years$20,625$15,722$11,829$8,801$6,487$4,383
26 years$19,620$14,776$10,971$8,047$5,843$3,872
27 years$18,691$13,906$10,188$7,366$5,268$3,423
28 years$17,830$13,103$9,471$6,749$4,753$3,028
29 years$17,030$12,362$8,813$6,189$4,292$2,680
30 years$16,285$11,674$8,209$5,680$3,878$2,374
31 years$15,589$11,036$7,653$5,216$3,506$2,103
32 years$14,937$10,442$7,141$4,794$3,172$1,864
33 years$14,327$9,889$6,667$4,408$2,870$1,652
34 years$13,753$9,373$6,229$4,056$2,599$1,465
35 years$13,214$8,890$5,824$3,734$2,354$1,300
36 years$12,706$8,438$5,448$3,439$2,133$1,153
37 years$12,226$8,014$5,100$3,168$1,933$1,023
38 years$11,773$7,616$4,775$2,920$1,752$908
39 years$11,344$7,242$4,474$2,693$1,589$806
40 years$10,937$6,890$4,194$2,484$1,441$716
41 years$10,552$6,559$3,932$2,291$1,308$636
42 years$10,185$6,246$3,689$2,115$1,187$565
43 years$9,837$5,952$3,461$1,952$1,077$502
44 years$9,505$5,673$3,249$1,803$977$446
45 years$9,189$5,410$3,051$1,665$887$396
46 years$8,888$5,161$2,865$1,538$806$352
47 years$8,600$4,925$2,692$1,421$732$312
48 years$8,325$4,702$2,530$1,313$664$278
49 years$8,062$4,490$2,378$1,213$603$247
50 years$7,811$4,289$2,235$1,121$548$219

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,000,000, adding $5,943 every year, while hoping to spend $35,418 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: 76/15/9 Blend
70$8,000,000$8,000,000$8,000,000$8,000,000
71$8,822,130$8,398,130$8,274,130$9,479,236
72$9,684,303$8,771,954$8,513,629$10,286,272
73$10,633,230$9,162,908$8,759,964$11,165,551
74$11,677,724$9,571,795$9,013,327$12,128,348
75$12,827,493$9,999,454$9,273,914$13,182,944
76$14,093,235$10,446,765$9,541,929$14,338,457
77$15,486,739$10,914,651$9,817,578$15,604,924
78$17,020,995$11,404,077$10,101,075$16,993,396
79$18,710,315$11,916,055$10,392,639$18,516,040
80$20,570,470$12,451,645$10,692,496$20,186,254
81$22,618,840$13,011,958$11,000,876$22,018,788
82$24,874,575$13,598,157$11,318,019$24,029,886
83$27,358,776$14,211,461$11,644,166$26,237,436
84$30,094,695$14,853,146$11,979,570$28,661,137
85$33,107,956$15,524,553$12,324,488$31,322,683
86$36,426,793$16,227,082$12,679,184$34,245,966
87$40,082,320$16,962,202$13,043,930$37,457,302
88$44,108,819$17,731,452$13,419,004$40,985,671
89$48,544,072$18,536,447$13,804,694$44,862,996
90$53,429,709$19,378,875$14,201,293$49,124,437
91$58,811,607$20,260,507$14,609,104$53,808,724
92$64,740,318$21,183,199$15,028,437$58,958,516
93$71,271,551$22,148,896$15,459,610$64,620,806
94$78,466,693$23,159,636$15,902,950$70,847,359
95$86,393,390$24,217,553$16,358,794$77,695,196
96$95,126,189$25,324,886$16,827,486$85,227,137
97$104,747,234$26,483,979$17,309,380$93,512,380
98$115,347,047$27,697,290$17,804,841$102,627,163
99$127,025,384$28,967,394$18,314,240$112,655,469
100$139,892,168$30,296,991$18,837,962$123,689,825