Can I retire at age 59 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%17.4%
1 years$660,633$654,748$649,007$643,403$637,931$618,750
2 years$327,046$320,955$315,052$309,328$303,777$284,614
3 years$215,865$209,748$203,859$198,190$192,728$174,184
4 years$160,285$154,187$148,357$142,785$137,456$119,672
5 years$126,946$120,884$115,131$109,672$104,492$87,517
6 years$104,727$98,711$93,043$87,706$82,681$66,531
7 years$88,863$82,897$77,319$72,108$67,241$51,915
8 years$76,970$71,058$65,573$60,489$55,783$41,271
9 years$67,725$61,869$56,478$51,524$46,978$33,265
10 years$60,333$54,535$49,239$44,414$40,027$27,094
11 years$54,289$48,549$43,349$38,653$34,425$22,248
12 years$49,256$43,575$38,471$33,904$29,832$18,388
13 years$45,001$39,379$34,371$29,932$26,014$15,276
14 years$41,357$35,794$30,883$26,571$22,804$12,744
15 years$38,201$32,699$27,883$23,696$20,078$10,668
16 years$35,443$30,001$25,280$21,217$17,745$8,955
17 years$33,012$27,629$23,004$19,064$15,734$7,535
18 years$30,853$25,531$21,000$17,180$13,990$6,352
19 years$28,924$23,662$19,224$15,524$12,470$5,364
20 years$27,189$21,988$17,643$14,060$11,138$4,535
21 years$25,622$20,481$16,228$12,760$9,967$3,839
22 years$24,200$19,118$14,957$11,602$8,934$3,253
23 years$22,903$17,881$13,810$10,566$8,020$2,759
24 years$21,716$16,753$12,772$9,637$7,208$2,341
25 years$20,625$15,722$11,829$8,801$6,487$1,987
26 years$19,620$14,776$10,971$8,047$5,843$1,688
27 years$18,691$13,906$10,188$7,366$5,268$1,435
28 years$17,830$13,103$9,471$6,749$4,753$1,220
29 years$17,030$12,362$8,813$6,189$4,292$1,037
30 years$16,285$11,674$8,209$5,680$3,878$882
31 years$15,589$11,036$7,653$5,216$3,506$751
32 years$14,937$10,442$7,141$4,794$3,172$639
33 years$14,327$9,889$6,667$4,408$2,870$544
34 years$13,753$9,373$6,229$4,056$2,599$463
35 years$13,214$8,890$5,824$3,734$2,354$394
36 years$12,706$8,438$5,448$3,439$2,133$335
37 years$12,226$8,014$5,100$3,168$1,933$285
38 years$11,773$7,616$4,775$2,920$1,752$243
39 years$11,344$7,242$4,474$2,693$1,589$207
40 years$10,937$6,890$4,194$2,484$1,441$176
41 years$10,552$6,559$3,932$2,291$1,308$150
42 years$10,185$6,246$3,689$2,115$1,187$128
43 years$9,837$5,952$3,461$1,952$1,077$109
44 years$9,505$5,673$3,249$1,803$977$93
45 years$9,189$5,410$3,051$1,665$887$79
46 years$8,888$5,161$2,865$1,538$806$67
47 years$8,600$4,925$2,692$1,421$732$57
48 years$8,325$4,702$2,530$1,313$664$49
49 years$8,062$4,490$2,378$1,213$603$42
50 years$7,811$4,289$2,235$1,121$548$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $8,000,000, adding $4,373 every year, while hoping to spend $53,939 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: 34/43/23 Blend
58$8,000,000$8,000,000$8,000,000$8,000,000
59$8,820,511$8,396,511$8,272,511$9,058,414
60$9,662,812$8,750,549$8,492,249$9,589,864
61$10,589,221$9,120,128$8,717,541$10,157,345
62$11,608,258$9,505,951$8,948,515$10,768,213
63$12,729,313$9,908,755$9,185,304$11,426,351
64$13,962,732$10,329,314$9,428,041$12,136,015
65$15,319,914$10,768,433$9,676,863$12,901,873
66$16,813,417$11,226,957$9,931,909$13,729,046
67$18,457,079$11,705,772$10,193,322$14,623,149
68$20,266,149$12,205,803$10,461,246$15,590,350
69$22,257,427$12,728,018$10,735,829$16,637,415
70$24,449,426$13,273,432$11,017,221$17,771,772
71$26,862,543$13,843,106$11,305,573$19,001,581
72$29,519,256$14,438,152$11,601,043$20,335,802
73$32,444,330$15,059,731$11,903,788$21,784,275
74$35,665,057$15,709,063$12,213,970$23,357,814
75$39,211,506$16,387,421$12,531,752$25,068,300
76$43,116,815$17,096,140$12,857,301$26,928,791
77$47,417,496$17,836,617$13,190,787$28,953,636
78$52,153,784$18,610,314$13,532,381$31,158,613
79$57,370,014$19,418,763$13,882,260$33,561,066
80$63,115,040$20,263,568$14,240,600$36,180,064
81$69,442,698$21,146,406$14,607,584$39,036,580
82$76,412,309$22,069,036$14,983,394$42,153,676
83$84,089,244$23,033,298$15,368,217$45,556,721
84$92,545,536$24,041,119$15,762,242$49,273,619
85$101,860,566$25,094,518$16,165,661$53,335,067
86$112,121,802$26,195,609$16,578,670$57,774,840
87$123,425,636$27,346,604$17,001,466$62,630,097
88$135,878,285$28,549,821$17,434,248$67,941,730
89$149,596,795$29,807,687$17,877,221$73,754,737
90$164,710,149$31,122,746$18,330,589$80,118,642
91$181,360,482$32,497,658$18,794,561$87,087,950
92$199,704,421$33,935,212$19,269,349$94,722,654
93$219,914,564$35,438,330$19,755,164$103,088,792
94$242,181,111$37,010,070$20,252,224$112,259,059
95$266,713,656$38,653,635$20,760,745$122,313,484
96$293,743,169$40,372,383$21,280,950$133,340,172
97$323,524,170$42,169,828$21,813,060$145,436,126
98$356,337,138$44,049,652$22,357,300$158,708,152
99$392,491,155$46,015,713$22,913,898$173,273,849
100$432,326,821$48,072,052$23,483,082$189,262,711