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%13.4%
1 years$660,633$654,748$649,007$643,403$637,931$628,917
2 years$327,046$320,955$315,052$309,328$303,777$294,713
3 years$215,865$209,748$203,859$198,190$192,728$183,896
4 years$160,285$154,187$148,357$142,785$137,456$128,923
5 years$126,946$120,884$115,131$109,672$104,492$96,284
6 years$104,727$98,711$93,043$87,706$82,681$74,807
7 years$88,863$82,897$77,319$72,108$67,241$59,705
8 years$76,970$71,058$65,573$60,489$55,783$48,583
9 years$67,725$61,869$56,478$51,524$46,978$40,110
10 years$60,333$54,535$49,239$44,414$40,027$33,487
11 years$54,289$48,549$43,349$38,653$34,425$28,205
12 years$49,256$43,575$38,471$33,904$29,832$23,926
13 years$45,001$39,379$34,371$29,932$26,014$20,414
14 years$41,357$35,794$30,883$26,571$22,804$17,501
15 years$38,201$32,699$27,883$23,696$20,078$15,063
16 years$35,443$30,001$25,280$21,217$17,745$13,009
17 years$33,012$27,629$23,004$19,064$15,734$11,266
18 years$30,853$25,531$21,000$17,180$13,990$9,780
19 years$28,924$23,662$19,224$15,524$12,470$8,508
20 years$27,189$21,988$17,643$14,060$11,138$7,414
21 years$25,622$20,481$16,228$12,760$9,967$6,471
22 years$24,200$19,118$14,957$11,602$8,934$5,655
23 years$22,903$17,881$13,810$10,566$8,020$4,947
24 years$21,716$16,753$12,772$9,637$7,208$4,333
25 years$20,625$15,722$11,829$8,801$6,487$3,798
26 years$19,620$14,776$10,971$8,047$5,843$3,331
27 years$18,691$13,906$10,188$7,366$5,268$2,924
28 years$17,830$13,103$9,471$6,749$4,753$2,568
29 years$17,030$12,362$8,813$6,189$4,292$2,256
30 years$16,285$11,674$8,209$5,680$3,878$1,983
31 years$15,589$11,036$7,653$5,216$3,506$1,744
32 years$14,937$10,442$7,141$4,794$3,172$1,534
33 years$14,327$9,889$6,667$4,408$2,870$1,350
34 years$13,753$9,373$6,229$4,056$2,599$1,188
35 years$13,214$8,890$5,824$3,734$2,354$1,046
36 years$12,706$8,438$5,448$3,439$2,133$921
37 years$12,226$8,014$5,100$3,168$1,933$811
38 years$11,773$7,616$4,775$2,920$1,752$715
39 years$11,344$7,242$4,474$2,693$1,589$630
40 years$10,937$6,890$4,194$2,484$1,441$555
41 years$10,552$6,559$3,932$2,291$1,308$489
42 years$10,185$6,246$3,689$2,115$1,187$431
43 years$9,837$5,952$3,461$1,952$1,077$380
44 years$9,505$5,673$3,249$1,803$977$335
45 years$9,189$5,410$3,051$1,665$887$295
46 years$8,888$5,161$2,865$1,538$806$260
47 years$8,600$4,925$2,692$1,421$732$229
48 years$8,325$4,702$2,530$1,313$664$202
49 years$8,062$4,490$2,378$1,213$603$178
50 years$7,811$4,289$2,235$1,121$548$157

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 $5,567 every year, while hoping to spend $29,017 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: 74/19/7 Blend
58$8,000,000$8,000,000$8,000,000$8,000,000
59$8,821,742$8,397,742$8,273,742$9,465,772
60$9,690,686$8,778,358$8,520,039$10,271,248
61$10,647,290$9,176,651$8,773,614$11,149,152
62$11,700,464$9,593,457$9,034,680$12,110,043
63$12,860,027$10,029,652$9,303,458$13,162,116
64$14,136,798$10,486,154$9,580,172$14,314,394
65$15,542,699$10,963,923$9,865,055$15,576,808
66$17,090,866$11,463,967$10,158,346$16,960,288
67$18,795,774$11,987,341$10,460,291$18,476,867
68$20,673,375$12,535,153$10,771,143$20,139,791
69$22,741,245$13,108,561$11,091,161$21,963,644
70$25,018,752$13,708,780$11,420,615$23,964,481
71$27,527,238$14,337,084$11,759,780$26,159,982
72$30,290,222$14,994,807$12,108,938$28,569,610
73$33,333,620$15,683,347$12,468,382$31,214,799
74$36,685,988$16,404,171$12,838,412$34,119,153
75$40,378,797$17,158,813$13,219,337$37,308,661
76$44,446,724$17,948,884$13,611,474$40,811,947
77$48,927,982$18,776,072$14,015,151$44,660,533
78$53,864,680$19,642,144$14,430,703$48,889,135
79$59,303,222$20,548,953$14,858,476$53,535,989
80$65,294,742$21,498,444$15,298,826$58,643,207
81$71,895,589$22,492,651$15,752,120$64,257,172
82$79,167,857$23,533,708$16,218,734$70,428,974
83$87,179,972$24,623,854$16,699,056$77,214,887
84$96,007,339$25,765,432$17,193,483$84,676,898
85$105,733,049$26,960,900$17,702,427$92,883,287
86$116,448,670$28,212,834$18,226,308$101,909,269
87$128,255,107$29,523,935$18,765,561$111,837,700
88$141,263,553$30,897,033$19,320,633$122,759,852
89$155,596,543$32,335,095$19,891,982$134,776,275
90$171,389,107$33,841,232$20,480,080$147,997,737
91$188,790,047$35,418,703$21,085,414$162,546,269
92$207,963,339$37,070,927$21,708,482$178,556,308
93$229,089,683$38,801,486$22,349,800$196,175,962
94$252,368,208$40,614,136$23,009,896$215,568,403
95$278,018,351$42,512,815$23,689,313$236,913,403
96$306,281,929$44,501,649$24,388,611$260,409,021
97$337,425,422$46,584,965$25,108,366$286,273,472
98$371,742,487$48,767,301$25,849,168$314,747,174
99$409,556,732$51,053,410$26,611,627$346,095,015
100$451,224,771$53,448,279$27,396,368$380,608,844