Can I retire at age 57 with 8,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.9%
1 years$660,633$654,748$649,007$643,403$637,931$630,221
2 years$327,046$320,955$315,052$309,328$303,777$296,017
3 years$215,865$209,748$203,859$198,190$192,728$185,161
4 years$160,285$154,187$148,357$142,785$137,456$130,138
5 years$126,946$120,884$115,131$109,672$104,492$97,445
6 years$104,727$98,711$93,043$87,706$82,681$75,915
7 years$88,863$82,897$77,319$72,108$67,241$60,758
8 years$76,970$71,058$65,573$60,489$55,783$49,582
9 years$67,725$61,869$56,478$51,524$46,978$41,056
10 years$60,333$54,535$49,239$44,414$40,027$34,381
11 years$54,289$48,549$43,349$38,653$34,425$29,049
12 years$49,256$43,575$38,471$33,904$29,832$24,720
13 years$45,001$39,379$34,371$29,932$26,014$21,161
14 years$41,357$35,794$30,883$26,571$22,804$18,202
15 years$38,201$32,699$27,883$23,696$20,078$15,720
16 years$35,443$30,001$25,280$21,217$17,745$13,623
17 years$33,012$27,629$23,004$19,064$15,734$11,839
18 years$30,853$25,531$21,000$17,180$13,990$10,315
19 years$28,924$23,662$19,224$15,524$12,470$9,006
20 years$27,189$21,988$17,643$14,060$11,138$7,877
21 years$25,622$20,481$16,228$12,760$9,967$6,901
22 years$24,200$19,118$14,957$11,602$8,934$6,053
23 years$22,903$17,881$13,810$10,566$8,020$5,317
24 years$21,716$16,753$12,772$9,637$7,208$4,674
25 years$20,625$15,722$11,829$8,801$6,487$4,113
26 years$19,620$14,776$10,971$8,047$5,843$3,622
27 years$18,691$13,906$10,188$7,366$5,268$3,192
28 years$17,830$13,103$9,471$6,749$4,753$2,815
29 years$17,030$12,362$8,813$6,189$4,292$2,483
30 years$16,285$11,674$8,209$5,680$3,878$2,192
31 years$15,589$11,036$7,653$5,216$3,506$1,935
32 years$14,937$10,442$7,141$4,794$3,172$1,710
33 years$14,327$9,889$6,667$4,408$2,870$1,511
34 years$13,753$9,373$6,229$4,056$2,599$1,335
35 years$13,214$8,890$5,824$3,734$2,354$1,180
36 years$12,706$8,438$5,448$3,439$2,133$1,044
37 years$12,226$8,014$5,100$3,168$1,933$923
38 years$11,773$7,616$4,775$2,920$1,752$817
39 years$11,344$7,242$4,474$2,693$1,589$723
40 years$10,937$6,890$4,194$2,484$1,441$639
41 years$10,552$6,559$3,932$2,291$1,308$566
42 years$10,185$6,246$3,689$2,115$1,187$501
43 years$9,837$5,952$3,461$1,952$1,077$443
44 years$9,505$5,673$3,249$1,803$977$392
45 years$9,189$5,410$3,051$1,665$887$347
46 years$8,888$5,161$2,865$1,538$806$307
47 years$8,600$4,925$2,692$1,421$732$272
48 years$8,325$4,702$2,530$1,313$664$241
49 years$8,062$4,490$2,378$1,213$603$213
50 years$7,811$4,289$2,235$1,121$548$189

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $8,000,000, adding $5,478 every year, while hoping to spend $43,702 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: 50/38/12 Blend
56$8,000,000$8,000,000$8,000,000$8,000,000
57$8,821,651$8,397,651$8,273,651$9,233,883
58$9,674,960$8,762,637$8,504,319$9,881,995
59$10,613,843$9,144,043$8,741,251$10,580,848
60$11,646,981$9,542,627$8,984,608$11,339,283
61$12,783,940$9,959,183$9,234,560$12,162,909
62$14,035,262$10,394,543$9,491,278$13,057,887
63$15,412,561$10,849,577$9,754,937$14,030,985
64$16,928,633$11,325,198$10,025,719$15,089,641
65$18,597,581$11,822,359$10,303,808$16,242,029
66$20,434,941$12,342,062$10,589,393$17,497,130
67$22,457,835$12,885,353$10,882,667$18,864,822
68$24,685,128$13,453,329$11,183,830$20,355,960
69$27,137,608$14,047,139$11,493,085$21,982,481
70$29,838,180$14,667,985$11,810,640$23,757,513
71$32,812,085$15,317,127$12,136,707$25,695,491
72$36,087,137$15,995,886$12,471,506$27,812,295
73$39,693,983$16,705,642$12,815,260$30,125,389
74$43,666,395$17,447,844$13,168,196$32,653,987
75$48,041,587$18,224,008$13,530,551$35,419,229
76$52,860,568$19,035,723$13,902,563$38,444,373
77$58,168,524$19,884,652$14,284,477$41,755,010
78$64,015,252$20,772,538$14,676,545$45,379,305
79$70,455,622$21,701,207$15,079,024$49,348,251
80$77,550,101$22,672,572$15,492,177$53,695,960
81$85,365,318$23,688,635$15,916,272$58,459,978
82$93,974,699$24,751,497$16,351,585$63,681,632
83$103,459,153$25,863,355$16,798,399$69,406,417
84$113,907,842$27,026,514$17,257,000$75,684,412
85$125,419,016$28,243,387$17,727,683$82,570,755
86$138,100,945$29,516,504$18,210,751$90,126,147
87$152,072,942$30,848,512$18,706,511$98,417,423
88$167,466,481$32,242,188$19,215,278$107,518,173
89$184,426,447$33,700,441$19,737,375$117,509,427
90$203,112,499$35,226,317$20,273,132$128,480,413
91$223,700,577$36,823,009$20,822,884$140,529,389
92$246,384,563$38,493,864$21,386,978$153,764,560
93$271,378,111$40,242,385$21,965,764$168,305,091
94$298,916,664$42,072,248$22,559,603$184,282,221
95$329,259,676$43,987,300$23,168,862$201,840,489
96$362,693,060$45,991,576$23,793,917$221,139,087
97$399,531,891$48,089,301$24,435,151$242,353,354
98$440,123,372$50,284,906$25,092,957$265,676,415
99$484,850,120$52,583,030$25,767,735$291,320,990
100$534,133,773$54,988,539$26,459,895$319,521,393