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%16.5%
1 years$693,664$687,485$681,457$675,573$669,828$652,048
2 years$343,398$337,003$330,804$324,795$318,966$301,177
3 years$226,658$220,235$214,052$208,099$202,365$185,124
4 years$168,299$161,896$155,775$149,924$144,328$127,768
5 years$133,293$126,928$120,888$115,156$109,716$93,881
6 years$109,964$103,647$97,695$92,091$86,815$71,721
7 years$93,306$87,042$81,185$75,713$70,604$56,252
8 years$80,819$74,611$68,852$63,514$58,572$44,956
9 years$71,111$64,963$59,302$54,100$49,326$36,433
10 years$63,350$57,261$51,701$46,634$42,029$29,841
11 years$57,004$50,976$45,517$40,586$36,146$24,647
12 years$51,719$45,754$40,395$35,599$31,323$20,491
13 years$47,251$41,348$36,090$31,429$27,315$17,127
14 years$43,425$37,584$32,427$27,899$23,944$14,377
15 years$40,111$34,334$29,277$24,881$21,082$12,112
16 years$37,215$31,501$26,544$22,278$18,632$10,233
17 years$34,662$29,011$24,154$20,017$16,521$8,667
18 years$32,396$26,807$22,050$18,039$14,689$7,356
19 years$30,370$24,845$20,185$16,300$13,093$6,253
20 years$28,549$23,087$18,525$14,763$11,695$5,324
21 years$26,904$21,505$17,040$13,398$10,466$4,538
22 years$25,410$20,074$15,705$12,182$9,381$3,872
23 years$24,048$18,775$14,500$11,094$8,421$3,307
24 years$22,802$17,591$13,410$10,119$7,569$2,826
25 years$21,656$16,508$12,421$9,241$6,811$2,417
26 years$20,601$15,515$11,520$8,449$6,135$2,068
27 years$19,626$14,601$10,697$7,734$5,531$1,770
28 years$18,722$13,759$9,944$7,086$4,991$1,516
29 years$17,882$12,980$9,254$6,498$4,507$1,299
30 years$17,099$12,258$8,620$5,964$4,072$1,113
31 years$16,368$11,588$8,036$5,477$3,682$954
32 years$15,684$10,964$7,498$5,034$3,330$818
33 years$15,043$10,383$7,001$4,629$3,014$701
34 years$14,441$9,841$6,541$4,259$2,729$601
35 years$13,875$9,334$6,115$3,921$2,471$516
36 years$13,341$8,860$5,721$3,611$2,239$442
37 years$12,837$8,415$5,354$3,327$2,030$380
38 years$12,361$7,997$5,014$3,066$1,840$326
39 years$11,911$7,604$4,698$2,827$1,669$279
40 years$11,484$7,235$4,403$2,608$1,513$240
41 years$11,079$6,887$4,129$2,406$1,373$206
42 years$10,694$6,559$3,873$2,221$1,246$177
43 years$10,329$6,249$3,634$2,050$1,131$151
44 years$9,980$5,957$3,411$1,893$1,026$130
45 years$9,649$5,680$3,203$1,748$932$112
46 years$9,332$5,419$3,009$1,615$846$96
47 years$9,030$5,171$2,826$1,492$768$82
48 years$8,741$4,937$2,656$1,378$698$71
49 years$8,465$4,714$2,497$1,274$634$61
50 years$8,201$4,503$2,347$1,177$575$52

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 $5,104 every year, while hoping to spend $22,284 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: 69/19/12 Blend
56$8,400,000$8,400,000$8,400,000$8,400,000
57$9,262,065$8,816,865$8,686,665$9,876,858
58$10,183,085$9,225,181$8,953,958$10,694,140
59$11,197,303$9,652,758$9,229,459$11,584,781
60$12,314,201$10,100,516$9,513,418$12,558,572
61$13,544,227$10,569,419$9,806,096$13,623,681
62$14,898,897$11,060,479$10,107,759$14,789,099
63$16,390,897$11,574,756$10,418,681$16,064,718
64$18,034,210$12,113,359$10,739,148$17,461,426
65$19,844,240$12,677,455$11,069,451$18,991,206
66$21,837,966$13,268,264$11,409,890$20,667,248
67$24,034,094$13,887,065$11,760,778$22,504,071
68$26,453,241$14,535,199$12,122,432$24,517,656
69$29,118,121$15,214,074$12,495,184$26,725,599
70$32,053,769$15,925,164$12,879,372$29,147,269
71$35,287,770$16,670,013$13,275,347$31,803,994
72$38,850,521$17,450,242$13,683,470$34,719,255
73$42,775,519$18,267,549$14,104,111$37,918,907
74$47,099,679$19,123,715$14,537,655$41,431,421
75$51,863,675$20,020,606$14,984,496$45,288,148
76$57,112,334$20,960,180$15,445,041$49,523,613
77$62,895,051$21,944,488$15,919,708$54,175,835
78$69,266,258$22,975,680$16,408,931$59,286,687
79$76,285,940$24,056,012$16,913,154$64,902,283
80$84,020,198$25,187,848$17,432,836$71,073,415
81$92,541,871$26,373,666$17,968,449$77,856,021
82$101,931,231$27,616,065$18,520,482$85,311,716
83$112,276,734$28,917,769$19,089,435$93,508,365
84$123,675,857$30,281,635$19,675,826$102,520,722
85$136,236,017$31,710,658$20,280,189$112,431,128
86$150,075,587$33,207,978$20,903,073$123,330,286
87$165,325,015$34,776,886$21,545,043$135,318,111
88$182,128,048$36,420,835$22,206,683$148,504,667
89$200,643,096$38,143,443$22,888,595$163,011,202
90$221,044,726$39,948,506$23,591,397$178,971,285
91$243,525,308$41,840,002$24,315,729$196,532,064
92$268,296,830$43,822,104$25,062,246$215,855,644
93$295,592,904$45,899,184$25,831,629$237,120,614
94$325,670,966$48,075,830$26,624,574$260,523,724
95$358,814,709$50,356,850$27,441,802$286,281,737
96$395,336,761$52,747,287$28,284,054$314,633,467
97$435,581,636$55,252,429$29,152,095$345,842,022
98$479,928,984$57,877,820$30,046,711$380,197,285
99$528,797,179$60,629,272$30,968,715$418,018,638
100$582,647,267$63,512,881$31,918,943$459,657,970