Can I retire at age 71 with 8,700,000?

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$718,438$712,038$705,795$699,701$693,750$676,704
2 years$355,662$349,038$342,619$336,395$330,357$313,289
3 years$234,753$228,100$221,697$215,531$209,592$193,035
4 years$174,310$167,678$161,339$155,278$149,483$133,565
5 years$138,054$131,462$125,205$119,269$113,635$98,399
6 years$113,891$107,348$101,185$95,380$89,915$75,378
7 years$96,638$90,151$84,085$78,417$73,125$59,288
8 years$83,705$77,276$71,311$65,782$60,664$47,521
9 years$73,651$67,283$61,420$56,032$51,088$38,628
10 years$65,612$59,306$53,547$48,300$43,530$31,738
11 years$59,040$52,797$47,142$42,035$37,437$26,297
12 years$53,566$47,388$41,837$36,871$32,442$21,935
13 years$48,939$42,825$37,379$32,551$28,290$18,396
14 years$44,976$38,926$33,585$28,895$24,799$15,495
15 years$41,544$35,560$30,323$25,770$21,835$13,099
16 years$38,544$32,626$27,492$23,074$19,298$11,107
17 years$35,900$30,047$25,017$20,732$17,111$9,442
18 years$33,553$27,765$22,837$18,683$15,214$8,043
19 years$31,454$25,732$20,906$16,882$13,561$6,863
20 years$29,569$23,911$19,187$15,290$12,113$5,865
21 years$27,864$22,273$17,648$13,877$10,839$5,019
22 years$26,317$20,791$16,265$12,617$9,716$4,299
23 years$24,907$19,445$15,018$11,491$8,722$3,686
24 years$23,616$18,219$13,889$10,480$7,839$3,163
25 years$22,430$17,097$12,864$9,571$7,054$2,715
26 years$21,337$16,069$11,931$8,751$6,354$2,333
27 years$20,327$15,123$11,079$8,010$5,729$2,005
28 years$19,390$14,250$10,299$7,339$5,169$1,724
29 years$18,520$13,443$9,584$6,730$4,668$1,483
30 years$17,709$12,696$8,928$6,177$4,217$1,276
31 years$16,953$12,002$8,323$5,673$3,813$1,098
32 years$16,244$11,356$7,765$5,213$3,449$945
33 years$15,580$10,754$7,251$4,794$3,121$814
34 years$14,957$10,193$6,775$4,411$2,826$701
35 years$14,370$9,668$6,334$4,061$2,560$604
36 years$13,818$9,176$5,925$3,740$2,319$520
37 years$13,296$8,715$5,546$3,446$2,102$448
38 years$12,803$8,282$5,193$3,176$1,906$386
39 years$12,336$7,876$4,866$2,928$1,728$333
40 years$11,894$7,493$4,561$2,701$1,567$287
41 years$11,475$7,133$4,276$2,492$1,422$247
42 years$11,076$6,793$4,011$2,300$1,290$213
43 years$10,697$6,472$3,764$2,123$1,171$183
44 years$10,337$6,169$3,533$1,960$1,063$158
45 years$9,993$5,883$3,318$1,810$965$136
46 years$9,665$5,612$3,116$1,672$876$117
47 years$9,353$5,356$2,927$1,545$796$101
48 years$9,054$5,113$2,751$1,428$723$87
49 years$8,768$4,883$2,586$1,319$656$75
50 years$8,494$4,664$2,431$1,219$596$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $8,700,000, adding $4,899 every year, while hoping to spend $22,187 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: 29/48/23 Blend
70$8,700,000$8,700,000$8,700,000$8,700,000
71$9,592,453$9,131,353$8,996,503$9,801,582
72$10,547,277$9,555,183$9,274,279$10,387,902
73$11,598,749$9,999,036$9,560,617$11,015,530
74$12,756,703$10,463,872$9,855,781$11,689,852
75$14,031,979$10,950,693$10,160,041$12,414,900
76$15,436,516$11,460,552$10,473,677$13,195,089
77$16,983,474$11,994,552$10,796,979$14,035,248
78$18,687,353$12,553,851$11,130,243$14,940,662
79$20,564,132$13,139,659$11,473,775$15,917,123
80$22,631,419$13,753,247$11,827,892$16,970,973
81$24,908,616$14,395,949$12,192,919$18,109,159
82$27,417,105$15,069,160$12,569,191$19,339,298
83$30,180,445$15,774,344$12,957,054$20,669,740
84$33,224,600$16,513,036$13,356,865$22,109,638
85$36,578,179$17,286,845$13,768,990$23,669,033
86$40,272,711$18,097,459$14,193,809$25,358,941
87$44,342,937$18,946,644$14,631,712$27,191,447
88$48,827,143$19,836,255$15,083,100$29,179,815
89$53,767,516$20,768,236$15,548,388$31,338,606
90$59,210,546$21,744,624$16,028,003$33,683,804
91$65,207,467$22,767,555$16,522,386$36,232,963
92$71,814,733$23,839,269$17,031,990$39,005,360
93$79,094,557$24,962,115$17,557,283$42,022,170
94$87,115,498$26,138,554$18,098,748$45,306,658
95$95,953,103$27,371,168$18,656,880$48,884,386
96$105,690,626$28,662,661$19,232,192$52,783,443
97$116,419,811$30,015,873$19,825,212$57,034,704
98$128,241,758$31,433,777$20,436,483$61,672,106
99$141,267,878$32,919,494$21,066,566$66,732,956
100$155,620,945$34,476,292$21,716,039$72,258,276