Can I retire at age 57 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$734,954$728,407$722,020$715,786$709,698$685,609
2 years$363,838$357,062$350,495$344,128$337,952$313,924
3 years$240,150$233,344$226,794$220,486$214,410$191,198
4 years$178,317$171,533$165,048$158,848$152,919$130,700
5 years$141,228$134,484$128,084$122,010$116,247$95,080
6 years$116,509$109,816$103,511$97,573$91,982$71,885
7 years$98,860$92,223$86,018$80,220$74,806$55,774
8 years$85,629$79,052$72,950$67,294$62,059$44,078
9 years$75,344$68,829$62,832$57,320$52,263$35,311
10 years$67,121$60,670$54,778$49,410$44,530$28,580
11 years$60,397$54,011$48,226$43,002$38,298$23,318
12 years$54,798$48,477$42,799$37,718$33,188$19,144
13 years$50,064$43,809$38,238$33,300$28,940$15,796
14 years$46,010$39,821$34,357$29,560$25,369$13,087
15 years$42,499$36,377$31,020$26,362$22,337$10,878
16 years$39,430$33,376$28,124$23,604$19,741$9,066
17 years$36,726$30,738$25,592$21,208$17,504$7,572
18 years$34,324$28,403$23,362$19,113$15,564$6,336
19 years$32,178$26,324$21,387$17,270$13,872$5,310
20 years$30,248$24,461$19,628$15,642$12,391$4,456
21 years$28,505$22,785$18,054$14,196$11,089$3,743
22 years$26,922$21,269$16,639$12,907$9,939$3,147
23 years$25,479$19,892$15,363$11,755$8,922$2,647
24 years$24,159$18,638$14,209$10,721$8,019$2,229
25 years$22,946$17,490$13,160$9,791$7,216$1,877
26 years$21,828$16,438$12,205$8,952$6,500$1,582
27 years$20,794$15,470$11,334$8,194$5,860$1,333
28 years$19,836$14,578$10,536$7,508$5,288$1,124
29 years$18,946$13,752$9,805$6,885$4,775$948
30 years$18,117$12,988$9,133$6,319$4,314$800
31 years$17,342$12,278$8,514$5,803$3,901$675
32 years$16,618$11,617$7,944$5,333$3,528$570
33 years$15,939$11,002$7,417$4,904$3,193$481
34 years$15,301$10,427$6,930$4,512$2,891$406
35 years$14,701$9,890$6,479$4,154$2,619$343
36 years$14,135$9,387$6,061$3,826$2,373$289
37 years$13,602$8,915$5,673$3,525$2,150$244
38 years$13,097$8,473$5,313$3,249$1,949$206
39 years$12,620$8,057$4,977$2,996$1,768$174
40 years$12,168$7,665$4,665$2,763$1,604$147
41 years$11,739$7,297$4,375$2,549$1,455$124
42 years$11,331$6,949$4,104$2,353$1,320$105
43 years$10,943$6,621$3,851$2,172$1,198$89
44 years$10,574$6,311$3,614$2,005$1,087$75
45 years$10,223$6,018$3,394$1,852$987$63
46 years$9,888$5,741$3,188$1,711$896$53
47 years$9,568$5,479$2,995$1,580$814$45
48 years$9,262$5,230$2,814$1,460$739$38
49 years$8,969$4,995$2,645$1,350$671$32
50 years$8,690$4,771$2,487$1,248$610$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $8,900,000, adding $2,789 every year, while hoping to spend $24,926 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: 60/22/18 Blend
56$8,900,000$8,900,000$8,900,000$8,900,000
57$9,810,677$9,338,977$9,201,027$10,353,511
58$10,784,845$9,770,066$9,482,740$11,151,818
59$11,857,543$10,221,442$9,773,055$12,019,327
60$13,038,794$10,694,075$10,072,235$12,965,168
61$14,339,643$11,188,977$10,380,547$13,996,928
62$15,772,263$11,707,213$10,698,272$15,122,953
63$17,350,064$12,249,897$11,025,694$16,352,420
64$19,087,826$12,818,197$11,363,110$17,695,425
65$21,001,832$13,413,337$11,710,822$19,163,076
66$23,110,030$14,036,601$12,069,145$20,767,593
67$25,432,192$14,689,334$12,438,402$22,522,421
68$27,990,112$15,372,947$12,818,923$24,442,356
69$30,807,799$16,088,918$13,211,054$26,543,680
70$33,911,716$16,838,796$13,615,145$28,844,311
71$37,331,020$17,624,206$14,031,561$31,363,972
72$41,097,843$18,446,851$14,460,678$34,124,372
73$45,247,592$19,308,516$14,902,880$37,149,404
74$49,819,285$20,211,072$15,358,565$40,465,375
75$54,855,919$21,156,481$15,828,144$44,101,241
76$60,404,874$22,146,800$16,312,038$48,088,885
77$66,518,363$23,184,184$16,810,682$52,463,408
78$73,253,921$24,270,895$17,324,526$57,263,458
79$80,674,953$25,409,301$17,854,029$62,531,591
80$88,851,328$26,601,886$18,399,669$68,314,665
81$97,860,040$27,851,255$18,961,934$74,664,282
82$107,785,936$29,160,139$19,541,331$81,637,267
83$118,722,515$30,531,399$20,138,379$89,296,198
84$130,772,811$31,968,037$20,753,614$97,709,995
85$144,050,366$33,473,199$21,387,588$106,954,559
86$158,680,301$35,050,184$22,040,871$117,113,490
87$174,800,499$36,702,450$22,714,047$128,278,861
88$192,562,904$38,433,624$23,407,722$140,552,088
89$212,134,956$40,247,507$24,122,516$154,044,875
90$233,701,172$42,148,085$24,859,071$168,880,264
91$257,464,888$44,139,538$25,618,046$185,193,789
92$283,650,178$46,226,247$26,400,123$203,134,745
93$312,503,970$48,412,807$27,206,001$222,867,591
94$344,298,376$50,704,035$28,036,402$244,573,494
95$379,333,259$53,104,982$28,892,070$268,452,028
96$417,939,068$55,620,943$29,773,772$294,723,051
97$460,479,955$58,257,471$30,682,295$323,628,768
98$507,357,212$61,020,389$31,618,454$355,436,009
99$559,013,062$63,915,802$32,583,086$390,438,735
100$615,934,828$66,950,110$33,577,053$428,960,805