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%14.8%
1 years$693,664$687,485$681,457$675,573$669,828$656,572
2 years$343,398$337,003$330,804$324,795$318,966$305,667
3 years$226,658$220,235$214,052$208,099$202,365$189,437
4 years$168,299$161,896$155,775$149,924$144,328$131,872
5 years$133,293$126,928$120,888$115,156$109,716$97,766
6 years$109,964$103,647$97,695$92,091$86,815$75,384
7 years$93,306$87,042$81,185$75,713$70,604$59,696
8 years$80,819$74,611$68,852$63,514$58,572$48,184
9 years$71,111$64,963$59,302$54,100$49,326$39,450
10 years$63,350$57,261$51,701$46,634$42,029$32,655
11 years$57,004$50,976$45,517$40,586$36,146$27,264
12 years$51,719$45,754$40,395$35,599$31,323$22,920
13 years$47,251$41,348$36,090$31,429$27,315$19,376
14 years$43,425$37,584$32,427$27,899$23,944$16,455
15 years$40,111$34,334$29,277$24,881$21,082$14,027
16 years$37,215$31,501$26,544$22,278$18,632$11,996
17 years$34,662$29,011$24,154$20,017$16,521$10,286
18 years$32,396$26,807$22,050$18,039$14,689$8,839
19 years$30,370$24,845$20,185$16,300$13,093$7,610
20 years$28,549$23,087$18,525$14,763$11,695$6,563
21 years$26,904$21,505$17,040$13,398$10,466$5,667
22 years$25,410$20,074$15,705$12,182$9,381$4,900
23 years$24,048$18,775$14,500$11,094$8,421$4,241
24 years$22,802$17,591$13,410$10,119$7,569$3,673
25 years$21,656$16,508$12,421$9,241$6,811$3,184
26 years$20,601$15,515$11,520$8,449$6,135$2,762
27 years$19,626$14,601$10,697$7,734$5,531$2,397
28 years$18,722$13,759$9,944$7,086$4,991$2,081
29 years$17,882$12,980$9,254$6,498$4,507$1,808
30 years$17,099$12,258$8,620$5,964$4,072$1,571
31 years$16,368$11,588$8,036$5,477$3,682$1,366
32 years$15,684$10,964$7,498$5,034$3,330$1,188
33 years$15,043$10,383$7,001$4,629$3,014$1,033
34 years$14,441$9,841$6,541$4,259$2,729$898
35 years$13,875$9,334$6,115$3,921$2,471$782
36 years$13,341$8,860$5,721$3,611$2,239$680
37 years$12,837$8,415$5,354$3,327$2,030$592
38 years$12,361$7,997$5,014$3,066$1,840$515
39 years$11,911$7,604$4,698$2,827$1,669$449
40 years$11,484$7,235$4,403$2,608$1,513$390
41 years$11,079$6,887$4,129$2,406$1,373$340
42 years$10,694$6,559$3,873$2,221$1,246$296
43 years$10,329$6,249$3,634$2,050$1,131$258
44 years$9,980$5,957$3,411$1,893$1,026$224
45 years$9,649$5,680$3,203$1,748$932$195
46 years$9,332$5,419$3,009$1,615$846$170
47 years$9,030$5,171$2,826$1,492$768$148
48 years$8,741$4,937$2,656$1,378$698$129
49 years$8,465$4,714$2,497$1,274$634$112
50 years$8,201$4,503$2,347$1,177$575$98

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 $6,042 every year, while hoping to spend $34,615 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: 45/34/21 Blend
58$8,400,000$8,400,000$8,400,000$8,400,000
59$9,263,032$8,817,832$8,687,632$9,623,592
60$10,171,032$9,213,076$8,941,838$10,273,005
61$11,170,487$9,626,527$9,203,399$10,972,945
62$12,270,689$10,059,039$9,472,526$11,731,289
63$13,481,878$10,511,511$9,749,434$12,553,481
64$14,815,335$10,984,880$10,034,346$13,445,498
65$16,283,491$11,480,132$10,327,489$14,413,907
66$17,900,045$11,998,295$10,629,097$15,465,918
67$19,680,089$12,540,452$10,939,411$16,609,454
68$21,640,257$13,107,732$11,258,680$17,853,220
69$23,798,874$13,701,323$11,587,157$19,206,783
70$26,176,137$14,322,465$11,925,105$20,680,657
71$28,794,299$14,972,462$12,272,792$22,286,402
72$31,677,882$15,652,677$12,630,494$24,036,724
73$34,853,907$16,364,539$12,998,497$25,945,593
74$38,352,150$17,109,546$13,377,091$28,028,375
75$42,205,423$17,889,267$13,766,577$30,301,966
76$46,449,882$18,705,347$14,167,264$32,784,948
77$51,125,371$19,559,510$14,579,468$35,497,764
78$56,275,794$20,453,561$15,003,515$38,462,900
79$61,949,532$21,389,393$15,439,740$41,705,099
80$68,199,901$22,368,990$15,888,488$45,251,579
81$75,085,650$23,394,429$16,350,111$49,132,293
82$82,671,520$24,467,890$16,824,974$53,380,204
83$91,028,853$25,591,655$17,313,449$58,031,583
84$100,236,267$26,768,117$17,815,921$63,126,356
85$110,380,395$27,999,784$18,332,783$68,708,462
86$121,556,705$29,289,283$18,864,441$74,826,271
87$133,870,401$30,639,369$19,411,311$81,533,025
88$147,437,412$32,052,929$19,973,821$88,887,337
89$162,385,495$33,532,989$20,552,410$96,953,736
90$178,855,430$35,082,720$21,147,530$105,803,264
91$197,002,356$36,705,446$21,759,645$115,514,141
92$216,997,235$38,404,651$22,389,232$126,172,494
93$239,028,462$40,183,988$23,036,780$137,873,156
94$263,303,645$42,047,283$23,702,792$150,720,554
95$290,051,567$43,998,550$24,387,785$164,829,687
96$319,524,341$46,041,994$25,092,291$180,327,192
97$351,999,796$48,182,023$25,816,854$197,352,535
98$387,784,091$50,423,259$26,562,035$216,059,311
99$427,214,615$52,770,545$27,328,410$236,616,684
100$470,663,164$55,228,960$28,116,570$259,210,966