Can I retire at age 71 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$701,922$695,670$689,570$683,616$677,802$656,894
2 years$347,486$341,015$334,743$328,661$322,763$301,882
3 years$229,356$222,857$216,601$210,577$204,774$184,574
4 years$170,303$163,823$157,630$151,709$146,047$126,683
5 years$134,880$128,439$122,327$116,527$111,022$92,547
6 years$111,273$104,880$98,859$93,187$87,848$70,277
7 years$94,417$88,078$82,152$76,614$71,444$54,776
8 years$81,781$75,500$69,671$64,270$59,270$43,494
9 years$71,958$65,736$60,008$54,744$49,914$35,014
10 years$64,104$57,943$52,316$47,190$42,529$28,483
11 years$57,683$51,583$46,058$41,069$36,576$23,359
12 years$52,335$46,298$40,876$36,023$31,696$19,280
13 years$47,814$41,840$36,520$31,803$27,640$15,995
14 years$43,942$38,032$32,813$28,231$24,229$13,325
15 years$40,589$34,743$29,626$25,177$21,333$11,139
16 years$37,658$31,876$26,860$22,544$18,854$9,337
17 years$35,075$29,356$24,442$20,255$16,717$7,845
18 years$32,781$27,126$22,312$18,254$14,864$6,604
19 years$30,731$25,141$20,426$16,494$13,249$5,568
20 years$28,889$23,362$18,746$14,939$11,834$4,701
21 years$27,224$21,761$17,242$13,558$10,590$3,973
22 years$25,712$20,313$15,892$12,327$9,493$3,361
23 years$24,334$18,998$14,673$11,226$8,521$2,846
24 years$23,073$17,800$13,570$10,239$7,659$2,411
25 years$21,914$16,704$12,569$9,351$6,892$2,044
26 years$20,847$15,699$11,657$8,550$6,208$1,733
27 years$19,860$14,775$10,824$7,826$5,597$1,471
28 years$18,945$13,922$10,063$7,170$5,050$1,248
29 years$18,094$13,134$9,364$6,575$4,560$1,060
30 years$17,302$12,404$8,722$6,035$4,121$900
31 years$16,563$11,726$8,132$5,542$3,725$764
32 years$15,871$11,095$7,587$5,093$3,370$649
33 years$15,222$10,507$7,084$4,684$3,050$552
34 years$14,613$9,958$6,619$4,310$2,761$469
35 years$14,040$9,445$6,188$3,967$2,501$398
36 years$13,500$8,965$5,789$3,654$2,266$339
37 years$12,990$8,515$5,418$3,366$2,054$288
38 years$12,509$8,092$5,074$3,103$1,862$245
39 years$12,053$7,695$4,754$2,861$1,688$208
40 years$11,621$7,321$4,456$2,639$1,531$177
41 years$11,211$6,969$4,178$2,435$1,389$150
42 years$10,822$6,637$3,919$2,247$1,261$128
43 years$10,452$6,324$3,678$2,074$1,144$109
44 years$10,099$6,028$3,452$1,915$1,039$92
45 years$9,763$5,748$3,241$1,769$943$79
46 years$9,443$5,483$3,044$1,634$856$67
47 years$9,138$5,233$2,860$1,509$777$57
48 years$8,846$4,995$2,688$1,395$706$48
49 years$8,566$4,770$2,526$1,289$641$41
50 years$8,299$4,557$2,375$1,191$582$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,500,000, adding $6,608 every year, while hoping to spend $39,279 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: 43/38/19 Blend
70$8,500,000$8,500,000$8,500,000$8,500,000
71$9,373,816$8,923,316$8,791,566$9,724,775
72$10,288,153$9,318,766$9,044,291$10,368,650
73$11,294,435$9,732,277$9,304,166$11,061,442
74$12,402,001$10,164,691$9,571,388$11,811,208
75$13,621,137$10,616,893$9,846,162$12,623,218
76$14,963,181$11,089,809$10,128,696$13,503,251
77$16,440,622$11,584,407$10,419,205$14,457,656
78$18,067,226$12,101,702$10,717,908$15,493,404
79$19,858,157$12,642,760$11,025,032$16,618,148
80$21,830,128$13,208,694$11,340,809$17,840,299
81$24,001,552$13,800,671$11,665,477$19,169,094
82$26,392,721$14,419,915$11,999,282$20,614,684
83$29,025,994$15,067,706$12,342,474$22,188,224
84$31,926,010$15,745,388$12,695,311$23,901,975
85$35,119,917$16,454,366$13,058,058$25,769,415
86$38,637,633$17,196,114$13,430,987$27,805,361
87$42,512,123$17,972,175$13,814,376$30,026,105
88$46,779,715$18,784,167$14,208,513$32,449,561
89$51,480,439$19,633,785$14,613,691$35,095,432
90$56,658,406$20,522,803$15,030,213$37,985,388
91$62,362,225$21,453,082$15,458,387$41,143,264
92$68,645,461$22,426,572$15,898,532$44,595,283
93$75,567,139$23,445,315$16,350,973$48,370,293
94$83,192,303$24,511,451$16,816,047$52,500,035
95$91,592,629$25,627,223$17,294,096$57,019,434
96$100,847,102$26,794,982$17,785,473$61,966,925
97$111,042,760$28,017,190$18,290,540$67,384,804
98$122,275,517$29,296,427$18,809,668$73,319,623
99$134,651,066$30,635,399$19,343,238$79,822,619
100$148,285,880$32,036,938$19,891,642$86,950,190