Can I retire at age 59 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%19.6%
1 years$660,633$654,748$649,007$643,403$637,931$613,347
2 years$327,046$320,955$315,052$309,328$303,777$279,302
3 years$215,865$209,748$203,859$198,190$192,728$169,133
4 years$160,285$154,187$148,357$142,785$137,456$114,919
5 years$126,946$120,884$115,131$109,672$104,492$83,072
6 years$104,727$98,711$93,043$87,706$82,681$62,393
7 years$88,863$82,897$77,319$72,108$67,241$48,079
8 years$76,970$71,058$65,573$60,489$55,783$37,727
9 years$67,725$61,869$56,478$51,524$46,978$30,001
10 years$60,333$54,535$49,239$44,414$40,027$24,099
11 years$54,289$48,549$43,349$38,653$34,425$19,509
12 years$49,256$43,575$38,471$33,904$29,832$15,889
13 years$45,001$39,379$34,371$29,932$26,014$13,004
14 years$41,357$35,794$30,883$26,571$22,804$10,683
15 years$38,201$32,699$27,883$23,696$20,078$8,804
16 years$35,443$30,001$25,280$21,217$17,745$7,274
17 years$33,012$27,629$23,004$19,064$15,734$6,022
18 years$30,853$25,531$21,000$17,180$13,990$4,994
19 years$28,924$23,662$19,224$15,524$12,470$4,148
20 years$27,189$21,988$17,643$14,060$11,138$3,448
21 years$25,622$20,481$16,228$12,760$9,967$2,870
22 years$24,200$19,118$14,957$11,602$8,934$2,390
23 years$22,903$17,881$13,810$10,566$8,020$1,992
24 years$21,716$16,753$12,772$9,637$7,208$1,661
25 years$20,625$15,722$11,829$8,801$6,487$1,386
26 years$19,620$14,776$10,971$8,047$5,843$1,156
27 years$18,691$13,906$10,188$7,366$5,268$965
28 years$17,830$13,103$9,471$6,749$4,753$806
29 years$17,030$12,362$8,813$6,189$4,292$673
30 years$16,285$11,674$8,209$5,680$3,878$562
31 years$15,589$11,036$7,653$5,216$3,506$470
32 years$14,937$10,442$7,141$4,794$3,172$393
33 years$14,327$9,889$6,667$4,408$2,870$328
34 years$13,753$9,373$6,229$4,056$2,599$274
35 years$13,214$8,890$5,824$3,734$2,354$229
36 years$12,706$8,438$5,448$3,439$2,133$192
37 years$12,226$8,014$5,100$3,168$1,933$160
38 years$11,773$7,616$4,775$2,920$1,752$134
39 years$11,344$7,242$4,474$2,693$1,589$112
40 years$10,937$6,890$4,194$2,484$1,441$94
41 years$10,552$6,559$3,932$2,291$1,308$78
42 years$10,185$6,246$3,689$2,115$1,187$65
43 years$9,837$5,952$3,461$1,952$1,077$55
44 years$9,505$5,673$3,249$1,803$977$46
45 years$9,189$5,410$3,051$1,665$887$38
46 years$8,888$5,161$2,865$1,538$806$32
47 years$8,600$4,925$2,692$1,421$732$27
48 years$8,325$4,702$2,530$1,313$664$22
49 years$8,062$4,490$2,378$1,213$603$19
50 years$7,811$4,289$2,235$1,121$548$16

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 $5,057 every year, while hoping to spend $27,567 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: 62/17/21 Blend
58$8,000,000$8,000,000$8,000,000$8,000,000
59$8,821,216$8,397,216$8,273,216$9,319,651
60$9,691,649$8,779,349$8,521,038$10,039,013
61$10,649,943$9,179,282$8,776,238$10,820,537
62$11,705,029$9,597,859$9,039,034$11,673,170
63$12,866,750$10,035,963$9,309,650$12,603,842
64$14,145,954$10,494,520$9,588,318$13,620,180
65$15,554,590$10,974,500$9,875,276$14,730,574
66$17,105,828$11,476,921$10,170,768$15,944,255
67$18,814,180$12,002,847$10,475,046$17,271,384
68$20,695,635$12,553,396$10,788,369$18,723,141
69$22,767,815$13,129,737$11,111,004$20,311,833
70$25,050,136$13,733,098$11,443,227$22,051,003
71$27,563,994$14,364,763$11,785,318$23,955,561
72$30,332,965$15,026,081$12,137,571$26,041,919
73$33,383,032$15,718,463$12,500,283$28,328,145
74$36,742,822$16,443,388$12,873,763$30,834,131
75$40,443,884$17,202,409$13,258,329$33,581,778
76$44,520,984$17,997,150$13,654,307$36,595,198
77$49,012,430$18,829,317$14,062,032$39,900,944
78$53,960,438$19,700,694$14,481,850$43,528,252
79$59,411,529$20,613,154$14,914,118$47,509,319
80$65,416,965$21,568,658$15,359,202$51,879,598
81$72,033,238$22,569,265$15,817,477$56,678,135
82$79,322,599$23,617,129$16,289,333$61,947,932
83$87,353,646$24,714,511$16,775,168$67,736,347
84$96,201,975$25,863,779$17,275,393$74,095,543
85$105,950,888$27,067,416$17,790,430$81,082,969
86$116,692,184$28,328,025$18,320,715$88,761,905
87$128,527,023$29,648,334$18,866,695$97,202,050
88$141,566,881$31,031,204$19,428,831$106,480,181
89$155,934,603$32,479,633$20,007,597$116,680,867
90$171,765,561$33,996,764$20,603,480$127,897,267
91$189,208,935$35,585,891$21,216,983$140,232,002
92$208,429,115$37,250,470$21,848,622$153,798,121
93$229,607,262$38,994,120$22,498,927$168,720,158
94$252,943,009$40,820,637$23,168,447$185,135,308
95$278,656,349$42,734,002$23,857,744$203,194,711
96$306,989,715$44,738,386$24,567,397$223,064,876
97$338,210,262$46,838,164$25,298,001$244,929,244
98$372,612,395$49,037,919$26,050,169$268,989,915
99$410,520,542$51,342,460$26,824,533$295,469,547
100$452,292,224$53,756,827$27,621,741$324,613,450