Can I retire at age 53 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%16%
1 years$660,633$654,748$649,007$643,403$637,931$622,257
2 years$327,046$320,955$315,052$309,328$303,777$288,082
3 years$215,865$209,748$203,859$198,190$192,728$177,504
4 years$160,285$154,187$148,357$142,785$137,456$122,818
5 years$126,946$120,884$115,131$109,672$104,492$90,482
6 years$104,727$98,711$93,043$87,706$82,681$69,313
7 years$88,863$82,897$77,319$72,108$67,241$54,518
8 years$76,970$71,058$65,573$60,489$55,783$43,698
9 years$67,725$61,869$56,478$51,524$46,978$35,520
10 years$60,333$54,535$49,239$44,414$40,027$29,185
11 years$54,289$48,549$43,349$38,653$34,425$24,181
12 years$49,256$43,575$38,471$33,904$29,832$20,170
13 years$45,001$39,379$34,371$29,932$26,014$16,915
14 years$41,357$35,794$30,883$26,571$22,804$14,248
15 years$38,201$32,699$27,883$23,696$20,078$12,045
16 years$35,443$30,001$25,280$21,217$17,745$10,213
17 years$33,012$27,629$23,004$19,064$15,734$8,682
18 years$30,853$25,531$21,000$17,180$13,990$7,395
19 years$28,924$23,662$19,224$15,524$12,470$6,311
20 years$27,189$21,988$17,643$14,060$11,138$5,393
21 years$25,622$20,481$16,228$12,760$9,967$4,615
22 years$24,200$19,118$14,957$11,602$8,934$3,953
23 years$22,903$17,881$13,810$10,566$8,020$3,389
24 years$21,716$16,753$12,772$9,637$7,208$2,908
25 years$20,625$15,722$11,829$8,801$6,487$2,497
26 years$19,620$14,776$10,971$8,047$5,843$2,145
27 years$18,691$13,906$10,188$7,366$5,268$1,844
28 years$17,830$13,103$9,471$6,749$4,753$1,585
29 years$17,030$12,362$8,813$6,189$4,292$1,364
30 years$16,285$11,674$8,209$5,680$3,878$1,173
31 years$15,589$11,036$7,653$5,216$3,506$1,010
32 years$14,937$10,442$7,141$4,794$3,172$869
33 years$14,327$9,889$6,667$4,408$2,870$749
34 years$13,753$9,373$6,229$4,056$2,599$645
35 years$13,214$8,890$5,824$3,734$2,354$555
36 years$12,706$8,438$5,448$3,439$2,133$478
37 years$12,226$8,014$5,100$3,168$1,933$412
38 years$11,773$7,616$4,775$2,920$1,752$355
39 years$11,344$7,242$4,474$2,693$1,589$306
40 years$10,937$6,890$4,194$2,484$1,441$264
41 years$10,552$6,559$3,932$2,291$1,308$227
42 years$10,185$6,246$3,689$2,115$1,187$196
43 years$9,837$5,952$3,461$1,952$1,077$169
44 years$9,505$5,673$3,249$1,803$977$145
45 years$9,189$5,410$3,051$1,665$887$125
46 years$8,888$5,161$2,865$1,538$806$108
47 years$8,600$4,925$2,692$1,421$732$93
48 years$8,325$4,702$2,530$1,313$664$80
49 years$8,062$4,490$2,378$1,213$603$69
50 years$7,811$4,289$2,235$1,121$548$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $8,000,000, adding $2,278 every year, while hoping to spend $26,593 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: 27/48/25 Blend
52$8,000,000$8,000,000$8,000,000$8,000,000
53$8,818,350$8,394,350$8,270,350$8,987,247
54$9,689,527$8,777,378$8,519,112$9,505,414
55$10,648,672$9,178,284$8,775,316$10,058,912
56$11,704,732$9,597,914$9,039,184$10,652,656
57$12,867,560$10,037,158$9,310,943$11,290,084
58$14,148,020$10,496,947$9,590,827$11,974,958
59$15,558,077$10,978,257$9,879,079$12,711,393
60$17,110,919$11,482,109$10,175,947$13,503,890
61$18,821,077$12,009,578$10,481,685$14,357,381
62$20,704,565$12,561,784$10,796,559$15,277,262
63$22,779,025$13,139,907$11,120,839$16,269,447
64$25,063,903$13,745,179$11,454,804$17,340,414
65$27,580,622$14,378,894$11,798,741$18,497,264
66$30,352,794$15,042,408$12,152,947$19,747,781
67$33,406,433$15,737,140$12,517,725$21,100,499
68$36,770,210$16,464,581$12,893,390$22,564,780
69$40,475,716$17,226,290$13,280,263$24,150,892
70$44,557,765$18,023,904$13,678,678$25,870,104
71$49,054,719$18,859,137$14,088,975$27,734,782
72$54,008,852$19,733,787$14,511,507$29,758,500
73$59,466,749$20,649,736$14,946,637$31,956,160
74$65,479,744$21,608,960$15,394,737$34,344,129
75$72,104,408$22,613,530$15,856,190$36,940,379
76$79,403,078$23,665,613$16,331,393$39,764,652
77$87,444,450$24,767,485$16,820,752$42,838,639
78$96,304,222$25,921,530$17,324,685$46,186,173
79$106,065,814$27,130,247$17,843,625$49,833,443
80$116,821,154$28,396,256$18,378,013$53,809,235
81$128,671,542$29,722,303$18,928,307$58,145,191
82$141,728,611$31,111,267$19,494,976$62,876,098
83$156,115,377$32,566,167$20,078,505$68,040,203
84$171,967,402$34,090,166$20,679,392$73,679,563
85$189,434,073$35,686,580$21,298,148$79,840,428
86$208,680,014$37,358,888$21,935,301$86,573,669
87$229,886,637$39,110,735$22,591,395$93,935,238
88$253,253,854$40,945,941$23,266,987$101,986,687
89$279,001,969$42,868,514$23,962,653$110,795,730
90$307,373,753$44,882,655$24,678,986$120,436,870
91$338,636,737$46,992,766$25,416,593$130,992,083
92$373,085,738$49,203,465$26,176,102$142,551,574
93$411,045,640$51,519,591$26,958,158$155,214,615
94$452,874,465$53,946,221$27,763,426$169,090,459
95$498,966,748$56,488,673$28,592,588$184,299,350
96$549,757,265$59,152,527$29,446,349$200,973,644
97$605,725,136$61,943,631$30,325,431$219,259,029
98$667,398,348$64,868,117$31,230,581$239,315,882
99$735,358,738$67,932,414$32,162,565$261,320,760
100$810,247,490$71,143,263$33,122,171$285,468,039