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

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$693,664$687,485$681,457$675,573$669,828$662,282
2 years$343,398$337,003$330,804$324,795$318,966$311,369
3 years$226,658$220,235$214,052$208,099$202,365$194,953
4 years$168,299$161,896$155,775$149,924$144,328$137,159
5 years$133,293$126,928$120,888$115,156$109,716$102,810
6 years$109,964$103,647$97,695$92,091$86,815$80,180
7 years$93,306$87,042$81,185$75,713$70,604$64,244
8 years$80,819$74,611$68,852$63,514$58,572$52,486
9 years$71,111$64,963$59,302$54,100$49,326$43,512
10 years$63,350$57,261$51,701$46,634$42,029$36,482
11 years$57,004$50,976$45,517$40,586$36,146$30,862
12 years$51,719$45,754$40,395$35,599$31,323$26,297
13 years$47,251$41,348$36,090$31,429$27,315$22,540
14 years$43,425$37,584$32,427$27,899$23,944$19,413
15 years$40,111$34,334$29,277$24,881$21,082$16,789
16 years$37,215$31,501$26,544$22,278$18,632$14,569
17 years$34,662$29,011$24,154$20,017$16,521$12,680
18 years$32,396$26,807$22,050$18,039$14,689$11,063
19 years$30,370$24,845$20,185$16,300$13,093$9,673
20 years$28,549$23,087$18,525$14,763$11,695$8,473
21 years$26,904$21,505$17,040$13,398$10,466$7,434
22 years$25,410$20,074$15,705$12,182$9,381$6,531
23 years$24,048$18,775$14,500$11,094$8,421$5,745
24 years$22,802$17,591$13,410$10,119$7,569$5,059
25 years$21,656$16,508$12,421$9,241$6,811$4,458
26 years$20,601$15,515$11,520$8,449$6,135$3,933
27 years$19,626$14,601$10,697$7,734$5,531$3,471
28 years$18,722$13,759$9,944$7,086$4,991$3,066
29 years$17,882$12,980$9,254$6,498$4,507$2,709
30 years$17,099$12,258$8,620$5,964$4,072$2,395
31 years$16,368$11,588$8,036$5,477$3,682$2,118
32 years$15,684$10,964$7,498$5,034$3,330$1,874
33 years$15,043$10,383$7,001$4,629$3,014$1,659
34 years$14,441$9,841$6,541$4,259$2,729$1,469
35 years$13,875$9,334$6,115$3,921$2,471$1,301
36 years$13,341$8,860$5,721$3,611$2,239$1,152
37 years$12,837$8,415$5,354$3,327$2,030$1,021
38 years$12,361$7,997$5,014$3,066$1,840$904
39 years$11,911$7,604$4,698$2,827$1,669$802
40 years$11,484$7,235$4,403$2,608$1,513$710
41 years$11,079$6,887$4,129$2,406$1,373$630
42 years$10,694$6,559$3,873$2,221$1,246$558
43 years$10,329$6,249$3,634$2,050$1,131$495
44 years$9,980$5,957$3,411$1,893$1,026$439
45 years$9,649$5,680$3,203$1,748$932$389
46 years$9,332$5,419$3,009$1,615$846$345
47 years$9,030$5,171$2,826$1,492$768$306
48 years$8,741$4,937$2,656$1,378$698$272
49 years$8,465$4,714$2,497$1,274$634$241
50 years$8,201$4,503$2,347$1,177$575$214

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 $3,826 every year, while hoping to spend $48,836 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: 37/35/28 Blend
58$8,400,000$8,400,000$8,400,000$8,400,000
59$9,260,747$8,815,547$8,685,347$9,525,717
60$10,153,382$9,195,547$8,924,345$10,101,951
61$11,135,429$9,592,531$9,169,712$10,719,233
62$12,215,956$10,007,279$9,421,611$11,385,085
63$13,404,956$10,440,608$9,680,207$12,103,929
64$14,713,437$10,893,373$9,945,670$12,880,618
65$16,153,531$11,366,472$10,218,173$13,720,475
66$17,738,602$11,860,840$10,497,894$14,629,348
67$19,483,380$12,377,462$10,785,013$15,613,655
68$21,404,091$12,917,364$11,079,717$16,680,443
69$23,518,617$13,481,623$11,382,197$17,837,454
70$25,846,661$14,071,368$11,692,645$19,093,192
71$28,409,933$14,687,778$12,011,262$20,457,000
72$31,232,357$15,332,090$12,338,250$21,939,146
73$34,340,294$16,005,598$12,673,817$23,550,914
74$37,762,790$16,709,659$13,018,177$25,304,706
75$41,531,854$17,445,692$13,371,545$27,214,159
76$45,682,757$18,215,184$13,734,145$29,294,264
77$50,254,363$19,019,693$14,106,204$31,561,506
78$55,289,500$19,860,850$14,487,954$34,034,012
79$60,835,361$20,740,363$14,879,632$36,731,722
80$66,943,948$21,660,021$15,281,480$39,676,567
81$73,672,568$22,621,700$15,693,747$42,892,672
82$81,084,368$23,627,361$16,116,686$46,406,579
83$89,248,933$24,679,061$16,550,554$50,247,492
84$98,242,944$25,778,955$16,995,617$54,447,543
85$108,150,898$26,929,298$17,452,145$59,042,092
86$119,065,910$28,132,453$17,920,411$64,070,053
87$131,090,587$29,390,897$18,400,699$69,574,253
88$144,337,999$30,707,224$18,893,295$75,601,833
89$158,932,747$32,084,150$19,398,492$82,204,679
90$175,012,136$33,524,522$19,916,590$89,439,907
91$192,727,472$35,031,321$20,447,894$97,370,395
92$212,245,491$36,607,674$20,992,716$106,065,366
93$233,749,933$38,256,851$21,551,374$115,601,031
94$257,443,273$39,982,284$22,124,192$126,061,300
95$283,548,635$41,787,564$22,711,501$137,538,567
96$312,311,898$43,676,457$23,313,638$150,134,565
97$344,004,015$45,652,907$23,930,948$163,961,321
98$378,923,572$47,721,046$24,563,782$179,142,199
99$417,399,604$49,885,205$25,212,497$195,813,054
100$459,794,705$52,149,922$25,877,457$214,123,502