Can I retire at age 59 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$693,664$687,485$681,457$675,573$669,828$651,785
2 years$343,398$337,003$330,804$324,795$318,966$300,916
3 years$226,658$220,235$214,052$208,099$202,365$184,874
4 years$168,299$161,896$155,775$149,924$144,328$127,531
5 years$133,293$126,928$120,888$115,156$109,716$93,658
6 years$109,964$103,647$97,695$92,091$86,815$71,511
7 years$93,306$87,042$81,185$75,713$70,604$56,056
8 years$80,819$74,611$68,852$63,514$58,572$44,773
9 years$71,111$64,963$59,302$54,100$49,326$36,262
10 years$63,350$57,261$51,701$46,634$42,029$29,683
11 years$57,004$50,976$45,517$40,586$36,146$24,501
12 years$51,719$45,754$40,395$35,599$31,323$20,356
13 years$47,251$41,348$36,090$31,429$27,315$17,003
14 years$43,425$37,584$32,427$27,899$23,944$14,263
15 years$40,111$34,334$29,277$24,881$21,082$12,007
16 years$37,215$31,501$26,544$22,278$18,632$10,138
17 years$34,662$29,011$24,154$20,017$16,521$8,580
18 years$32,396$26,807$22,050$18,039$14,689$7,276
19 years$30,370$24,845$20,185$16,300$13,093$6,181
20 years$28,549$23,087$18,525$14,763$11,695$5,258
21 years$26,904$21,505$17,040$13,398$10,466$4,479
22 years$25,410$20,074$15,705$12,182$9,381$3,819
23 years$24,048$18,775$14,500$11,094$8,421$3,259
24 years$22,802$17,591$13,410$10,119$7,569$2,783
25 years$21,656$16,508$12,421$9,241$6,811$2,378
26 years$20,601$15,515$11,520$8,449$6,135$2,033
27 years$19,626$14,601$10,697$7,734$5,531$1,739
28 years$18,722$13,759$9,944$7,086$4,991$1,488
29 years$17,882$12,980$9,254$6,498$4,507$1,274
30 years$17,099$12,258$8,620$5,964$4,072$1,090
31 years$16,368$11,588$8,036$5,477$3,682$934
32 years$15,684$10,964$7,498$5,034$3,330$800
33 years$15,043$10,383$7,001$4,629$3,014$685
34 years$14,441$9,841$6,541$4,259$2,729$587
35 years$13,875$9,334$6,115$3,921$2,471$503
36 years$13,341$8,860$5,721$3,611$2,239$431
37 years$12,837$8,415$5,354$3,327$2,030$370
38 years$12,361$7,997$5,014$3,066$1,840$317
39 years$11,911$7,604$4,698$2,827$1,669$272
40 years$11,484$7,235$4,403$2,608$1,513$233
41 years$11,079$6,887$4,129$2,406$1,373$200
42 years$10,694$6,559$3,873$2,221$1,246$171
43 years$10,329$6,249$3,634$2,050$1,131$147
44 years$9,980$5,957$3,411$1,893$1,026$126
45 years$9,649$5,680$3,203$1,748$932$108
46 years$9,332$5,419$3,009$1,615$846$93
47 years$9,030$5,171$2,826$1,492$768$79
48 years$8,741$4,937$2,656$1,378$698$68
49 years$8,465$4,714$2,497$1,274$634$58
50 years$8,201$4,503$2,347$1,177$575$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $8,400,000, adding $3,769 every year, while hoping to spend $52,549 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: 48/33/19 Blend
58$8,400,000$8,400,000$8,400,000$8,400,000
59$9,260,688$8,815,488$8,685,288$9,655,399
60$10,149,366$9,191,535$8,920,333$10,306,081
61$11,126,929$9,584,247$9,161,491$11,006,599
62$12,202,386$9,994,386$9,408,912$11,766,165
63$13,385,665$10,422,747$9,662,747$12,590,336
64$14,687,707$10,870,165$9,923,152$13,485,220
65$16,120,562$11,337,513$10,190,287$14,457,523
66$17,697,513$11,825,704$10,464,315$15,514,620
67$19,433,191$12,335,695$10,745,401$16,664,615
68$21,343,719$12,868,487$11,033,715$17,916,417
69$23,446,865$13,425,129$11,329,431$19,279,819
70$25,762,203$14,006,718$11,632,725$20,765,592
71$28,311,304$14,614,404$11,943,777$22,385,578
72$31,117,936$15,249,389$12,262,773$24,152,803
73$34,208,289$15,912,932$12,589,899$26,081,594
74$37,611,222$16,606,354$12,925,349$28,187,710
75$41,358,536$17,331,034$13,269,317$30,488,490
76$45,485,271$18,088,419$13,622,003$33,003,007
77$50,030,040$18,880,023$13,983,612$35,752,252
78$55,035,392$19,707,432$14,354,351$38,759,321
79$60,548,212$20,572,306$14,734,431$42,049,630
80$66,620,164$21,476,384$15,124,070$45,651,153
81$73,308,181$22,421,487$15,523,486$49,594,678
82$80,674,997$23,409,522$15,932,905$53,914,094
83$88,789,745$24,442,486$16,352,555$58,646,706
84$97,728,602$25,522,471$16,782,668$63,833,578
85$107,575,515$26,651,668$17,223,484$69,519,921
86$118,422,989$27,832,371$17,675,242$75,755,508
87$130,372,961$29,066,984$18,138,189$82,595,140
88$143,537,761$30,358,024$18,612,576$90,099,156
89$158,041,173$31,708,128$19,098,659$98,333,996
90$174,019,604$33,120,058$19,596,695$107,372,821
91$191,623,370$34,596,706$20,106,950$117,296,196
92$211,018,113$36,141,104$20,629,692$128,192,841
93$232,386,368$37,756,426$21,165,195$140,160,463
94$255,929,284$39,445,998$21,713,736$153,306,668
95$281,868,523$41,213,303$22,275,597$167,749,966
96$310,448,348$43,061,991$22,851,066$183,620,886
97$341,937,937$44,995,886$23,440,434$201,063,191
98$376,633,916$47,018,994$24,043,997$220,235,231
99$414,863,161$49,135,510$24,662,057$241,311,421
100$456,985,885$51,349,832$25,294,918$264,483,883