Can I retire at age 59 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$685,406$679,301$673,344$667,531$661,854$637,863
2 years$339,310$332,991$326,866$320,928$315,168$291,262
3 years$223,960$217,613$211,504$205,622$199,956$176,884
4 years$166,296$159,969$153,921$148,139$142,610$120,550
5 years$131,707$125,417$119,449$113,785$108,410$87,419
6 years$108,655$102,413$96,532$90,995$85,781$65,875
7 years$92,195$86,006$80,219$74,812$69,763$50,937
8 years$79,857$73,723$68,032$62,758$57,875$40,112
9 years$70,265$64,189$58,596$53,456$48,739$32,016
10 years$62,596$56,580$51,085$46,079$41,528$25,815
11 years$56,325$50,370$44,975$40,103$35,716$20,980
12 years$51,104$45,209$39,914$35,176$30,950$17,156
13 years$46,689$40,856$35,660$31,055$26,989$14,098
14 years$42,908$37,137$32,041$27,567$23,659$11,631
15 years$39,634$33,925$28,929$24,585$20,831$9,627
16 years$36,772$31,126$26,228$22,013$18,411$7,988
17 years$34,250$28,665$23,867$19,779$16,324$6,643
18 years$32,010$26,488$21,787$17,824$14,515$5,534
19 years$30,008$24,549$19,945$16,106$12,937$4,617
20 years$28,209$22,812$18,305$14,587$11,556$3,856
21 years$26,583$21,249$16,837$13,239$10,341$3,224
22 years$25,107$19,835$15,518$12,037$9,269$2,698
23 years$23,762$18,551$14,328$10,962$8,321$2,259
24 years$22,530$17,381$13,251$9,998$7,479$1,893
25 years$21,399$16,311$12,273$9,131$6,730$1,587
26 years$20,356$15,330$11,382$8,349$6,062$1,330
27 years$19,392$14,427$10,570$7,642$5,465$1,116
28 years$18,499$13,595$9,826$7,002$4,931$937
29 years$17,669$12,825$9,144$6,421$4,453$786
30 years$16,895$12,112$8,517$5,893$4,024$660
31 years$16,173$11,450$7,940$5,412$3,638$554
32 years$15,497$10,834$7,408$4,974$3,291$465
33 years$14,864$10,260$6,917$4,574$2,978$391
34 years$14,269$9,724$6,463$4,208$2,696$328
35 years$13,710$9,223$6,042$3,874$2,442$276
36 years$13,182$8,754$5,653$3,568$2,213$232
37 years$12,685$8,314$5,291$3,287$2,005$195
38 years$12,214$7,902$4,955$3,030$1,818$163
39 years$11,769$7,514$4,642$2,794$1,649$137
40 years$11,347$7,149$4,351$2,577$1,495$115
41 years$10,947$6,805$4,080$2,377$1,357$97
42 years$10,567$6,481$3,827$2,194$1,231$81
43 years$10,206$6,175$3,591$2,025$1,117$68
44 years$9,862$5,886$3,371$1,870$1,014$57
45 years$9,534$5,613$3,165$1,727$921$48
46 years$9,221$5,354$2,973$1,595$836$41
47 years$8,923$5,110$2,793$1,474$759$34
48 years$8,637$4,878$2,624$1,362$689$29
49 years$8,365$4,658$2,467$1,259$626$24
50 years$8,104$4,450$2,319$1,163$569$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $8,300,000, adding $2,396 every year, while hoping to spend $44,474 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: 69/14/17 Blend
58$8,300,000$8,300,000$8,300,000$8,300,000
59$9,149,071$8,709,171$8,580,521$9,743,150
60$10,034,957$9,088,601$8,820,649$10,518,801
61$11,009,712$9,485,132$9,067,330$11,361,684
62$12,082,354$9,899,555$9,320,738$12,282,812
63$13,262,820$10,332,699$9,581,048$13,289,893
64$14,562,058$10,785,432$9,848,443$14,391,411
65$15,992,131$11,258,660$10,123,109$15,596,705
66$17,566,330$11,753,337$10,405,235$16,916,056
67$19,299,302$12,270,456$10,695,017$18,360,779
68$21,207,185$12,811,063$10,992,654$19,943,336
69$23,307,762$13,376,250$11,298,352$21,677,444
70$25,620,628$13,967,160$11,612,321$23,578,208
71$28,167,373$14,584,991$11,934,775$25,662,259
72$30,971,789$15,231,001$12,265,934$27,947,911
73$34,060,094$15,906,501$12,606,025$30,455,332
74$37,461,174$16,612,871$12,955,278$33,206,730
75$41,206,864$17,351,552$13,313,929$36,226,564
76$45,332,241$18,124,054$13,682,223$39,541,772
77$49,875,957$18,931,961$14,060,405$43,182,020
78$54,880,608$19,776,930$14,448,732$47,179,985
79$60,393,128$20,660,697$14,847,462$51,571,656
80$66,465,238$21,585,082$15,256,863$56,396,674
81$73,153,931$22,551,991$15,677,207$61,698,706
82$80,522,012$23,563,418$16,108,773$67,525,847
83$88,638,689$24,621,457$16,551,848$73,931,079
84$97,580,224$25,728,298$17,006,725$80,972,766
85$107,430,658$26,886,236$17,473,701$88,715,200
86$118,282,601$28,097,676$17,953,085$97,229,206
87$130,238,102$29,365,139$18,445,190$106,592,807
88$143,409,621$30,691,263$18,950,337$116,891,959
89$157,921,083$32,078,816$19,468,854$128,221,355
90$173,909,050$33,530,694$20,001,077$140,685,321
91$191,524,010$35,049,935$20,547,350$154,398,791
92$210,931,798$36,639,720$21,108,024$169,488,392
93$232,315,158$38,303,384$21,683,460$186,093,632
94$255,875,474$40,044,419$22,274,025$204,368,216
95$281,834,662$41,866,486$22,880,096$224,481,491
96$310,437,275$43,773,420$23,502,056$246,620,039
97$341,952,801$45,769,242$24,140,299$270,989,435
98$376,678,216$47,858,164$24,795,228$297,816,182
99$414,940,779$50,044,599$25,467,253$327,349,843
100$457,101,126$52,333,173$26,156,794$359,865,391