Can I retire at age 57 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$693,664$687,485$681,457$675,573$669,828$645,036
2 years$343,398$337,003$330,804$324,795$318,966$294,268
3 years$226,658$220,235$214,052$208,099$202,365$178,539
4 years$168,299$161,896$155,775$149,924$144,328$121,555
5 years$133,293$126,928$120,888$115,156$109,716$88,055
6 years$109,964$103,647$97,695$92,091$86,815$66,281
7 years$93,306$87,042$81,185$75,713$70,604$51,192
8 years$80,819$74,611$68,852$63,514$58,572$40,265
9 years$71,111$64,963$59,302$54,100$49,326$32,099
10 years$63,350$57,261$51,701$46,634$42,029$25,849
11 years$57,004$50,976$45,517$40,586$36,146$20,980
12 years$51,719$45,754$40,395$35,599$31,323$17,133
13 years$47,251$41,348$36,090$31,429$27,315$14,060
14 years$43,425$37,584$32,427$27,899$23,944$11,584
15 years$40,111$34,334$29,277$24,881$21,082$9,574
16 years$37,215$31,501$26,544$22,278$18,632$7,933
17 years$34,662$29,011$24,154$20,017$16,521$6,587
18 years$32,396$26,807$22,050$18,039$14,689$5,479
19 years$30,370$24,845$20,185$16,300$13,093$4,564
20 years$28,549$23,087$18,525$14,763$11,695$3,806
21 years$26,904$21,505$17,040$13,398$10,466$3,178
22 years$25,410$20,074$15,705$12,182$9,381$2,655
23 years$24,048$18,775$14,500$11,094$8,421$2,219
24 years$22,802$17,591$13,410$10,119$7,569$1,857
25 years$21,656$16,508$12,421$9,241$6,811$1,554
26 years$20,601$15,515$11,520$8,449$6,135$1,301
27 years$19,626$14,601$10,697$7,734$5,531$1,090
28 years$18,722$13,759$9,944$7,086$4,991$913
29 years$17,882$12,980$9,254$6,498$4,507$765
30 years$17,099$12,258$8,620$5,964$4,072$641
31 years$16,368$11,588$8,036$5,477$3,682$537
32 years$15,684$10,964$7,498$5,034$3,330$450
33 years$15,043$10,383$7,001$4,629$3,014$378
34 years$14,441$9,841$6,541$4,259$2,729$317
35 years$13,875$9,334$6,115$3,921$2,471$266
36 years$13,341$8,860$5,721$3,611$2,239$223
37 years$12,837$8,415$5,354$3,327$2,030$187
38 years$12,361$7,997$5,014$3,066$1,840$157
39 years$11,911$7,604$4,698$2,827$1,669$131
40 years$11,484$7,235$4,403$2,608$1,513$110
41 years$11,079$6,887$4,129$2,406$1,373$92
42 years$10,694$6,559$3,873$2,221$1,246$78
43 years$10,329$6,249$3,634$2,050$1,131$65
44 years$9,980$5,957$3,411$1,893$1,026$55
45 years$9,649$5,680$3,203$1,748$932$46
46 years$9,332$5,419$3,009$1,615$846$38
47 years$9,030$5,171$2,826$1,492$768$32
48 years$8,741$4,937$2,656$1,378$698$27
49 years$8,465$4,714$2,497$1,274$634$23
50 years$8,201$4,503$2,347$1,177$575$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $8,400,000, adding $2,241 every year, while hoping to spend $45,896 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: 44/32/24 Blend
56$8,400,000$8,400,000$8,400,000$8,400,000
57$9,259,112$8,813,912$8,683,712$9,601,961
58$10,154,708$9,196,960$8,925,783$10,228,352
59$11,140,117$9,597,240$9,174,425$10,902,301
60$12,224,451$10,015,547$9,429,811$11,631,945
61$13,417,750$10,452,714$9,692,115$12,422,475
62$14,731,078$10,909,614$9,961,518$13,279,592
63$16,176,624$11,387,161$10,238,204$14,209,560
64$17,767,819$11,886,312$10,522,364$15,219,259
65$19,519,463$12,408,068$10,814,190$16,316,251
66$21,447,864$12,953,478$11,113,880$17,508,844
67$23,570,990$13,523,643$11,421,640$18,806,170
68$25,908,641$14,119,712$11,737,675$20,218,268
69$28,482,636$14,742,891$12,062,200$21,756,174
70$31,317,014$15,394,442$12,395,433$23,432,023
71$34,438,267$16,075,687$12,737,598$25,259,161
72$37,875,586$16,788,011$13,088,922$27,252,261
73$41,661,136$17,532,864$13,449,642$29,427,467
74$45,830,363$18,311,766$13,819,997$31,802,534
75$50,422,325$19,126,307$14,200,231$34,396,997
76$55,480,061$19,978,155$14,590,598$37,232,345
77$61,050,998$20,869,055$14,991,353$40,332,226
78$67,187,397$21,800,836$15,402,761$43,722,660
79$73,946,849$22,775,414$15,825,091$47,432,280
80$81,392,814$23,794,796$16,258,618$51,492,600
81$89,595,225$24,861,085$16,703,625$55,938,305
82$98,631,142$25,976,482$17,160,401$60,807,571
83$108,585,485$27,143,296$17,629,241$66,142,422
84$119,551,830$28,363,944$18,110,446$71,989,118
85$131,633,298$29,640,958$18,604,327$78,398,587
86$144,943,521$30,976,992$19,111,199$85,426,896
87$159,607,722$32,374,826$19,631,386$93,135,777
88$175,763,890$33,837,373$20,165,217$101,593,199
89$193,564,086$35,367,684$20,713,032$110,874,000
90$213,175,880$36,968,957$21,275,175$121,060,592
91$234,783,926$38,644,542$21,852,000$132,243,723
92$258,591,713$40,397,951$22,443,868$144,523,327
93$284,823,478$42,232,861$23,051,149$158,009,461
94$313,726,329$44,153,128$23,674,218$172,823,328
95$345,572,572$46,162,789$24,313,462$189,098,419
96$380,662,287$48,266,077$24,969,275$206,981,751
97$419,326,153$50,467,429$25,642,059$226,635,257
98$461,928,578$52,771,490$26,332,226$248,237,290
99$508,871,132$55,183,131$27,040,194$271,984,305
100$560,596,340$57,707,457$27,766,393$298,092,692