Can I retire at age 59 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$734,954$728,407$722,020$715,786$709,698$698,229
2 years$363,838$357,062$350,495$344,128$337,952$326,428
3 years$240,150$233,344$226,794$220,486$214,410$203,191
4 years$178,317$171,533$165,048$158,848$152,919$142,091
5 years$141,228$134,484$128,084$122,010$116,247$105,840
6 years$116,509$109,816$103,511$97,573$91,982$82,010
7 years$98,860$92,223$86,018$80,220$74,806$65,271
8 years$85,629$79,052$72,950$67,294$62,059$52,959
9 years$75,344$68,829$62,832$57,320$52,263$43,593
10 years$67,121$60,670$54,778$49,410$44,530$36,284
11 years$60,397$54,011$48,226$43,002$38,298$30,466
12 years$54,798$48,477$42,799$37,718$33,188$25,761
13 years$50,064$43,809$38,238$33,300$28,940$21,908
14 years$46,010$39,821$34,357$29,560$25,369$18,719
15 years$42,499$36,377$31,020$26,362$22,337$16,056
16 years$39,430$33,376$28,124$23,604$19,741$13,818
17 years$36,726$30,738$25,592$21,208$17,504$11,924
18 years$34,324$28,403$23,362$19,113$15,564$10,315
19 years$32,178$26,324$21,387$17,270$13,872$8,940
20 years$30,248$24,461$19,628$15,642$12,391$7,762
21 years$28,505$22,785$18,054$14,196$11,089$6,749
22 years$26,922$21,269$16,639$12,907$9,939$5,875
23 years$25,479$19,892$15,363$11,755$8,922$5,120
24 years$24,159$18,638$14,209$10,721$8,019$4,467
25 years$22,946$17,490$13,160$9,791$7,216$3,900
26 years$21,828$16,438$12,205$8,952$6,500$3,407
27 years$20,794$15,470$11,334$8,194$5,860$2,979
28 years$19,836$14,578$10,536$7,508$5,288$2,605
29 years$18,946$13,752$9,805$6,885$4,775$2,280
30 years$18,117$12,988$9,133$6,319$4,314$1,996
31 years$17,342$12,278$8,514$5,803$3,901$1,748
32 years$16,618$11,617$7,944$5,333$3,528$1,531
33 years$15,939$11,002$7,417$4,904$3,193$1,342
34 years$15,301$10,427$6,930$4,512$2,891$1,176
35 years$14,701$9,890$6,479$4,154$2,619$1,031
36 years$14,135$9,387$6,061$3,826$2,373$904
37 years$13,602$8,915$5,673$3,525$2,150$793
38 years$13,097$8,473$5,313$3,249$1,949$695
39 years$12,620$8,057$4,977$2,996$1,768$610
40 years$12,168$7,665$4,665$2,763$1,604$535
41 years$11,739$7,297$4,375$2,549$1,455$470
42 years$11,331$6,949$4,104$2,353$1,320$412
43 years$10,943$6,621$3,851$2,172$1,198$361
44 years$10,574$6,311$3,614$2,005$1,087$317
45 years$10,223$6,018$3,394$1,852$987$278
46 years$9,888$5,741$3,188$1,711$896$244
47 years$9,568$5,479$2,995$1,580$814$214
48 years$9,262$5,230$2,814$1,460$739$188
49 years$8,969$4,995$2,645$1,350$671$165
50 years$8,690$4,771$2,487$1,248$610$145

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $8,900,000, adding $2,373 every year, while hoping to spend $40,516 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: 66/27/7 Blend
58$8,900,000$8,900,000$8,900,000$8,900,000
59$9,810,248$9,338,548$9,200,598$10,445,561
60$10,767,784$9,753,028$9,465,709$11,282,345
61$11,821,632$10,186,460$9,738,344$12,191,427
62$12,981,571$10,639,729$10,018,711$13,183,852
63$14,258,379$11,113,763$10,307,026$14,267,739
64$15,663,931$11,609,535$10,603,508$15,452,015
65$17,211,312$12,128,063$10,908,386$16,746,503
66$18,914,941$12,670,412$11,221,892$18,162,008
67$20,790,703$13,237,701$11,544,264$19,710,418
68$22,856,107$13,831,100$11,875,748$21,404,817
69$25,130,441$14,451,836$12,216,597$23,259,600
70$27,634,962$15,101,192$12,567,070$25,290,609
71$30,393,093$15,780,515$12,927,431$27,515,281
72$33,430,643$16,491,215$13,297,954$29,952,807
73$36,776,053$17,234,769$13,678,920$32,624,312
74$40,460,663$18,012,724$14,070,616$35,553,048
75$44,519,006$18,826,704$14,473,338$38,764,615
76$48,989,138$19,678,406$14,887,388$42,287,192
77$53,912,993$20,569,611$15,313,079$46,151,808
78$59,336,781$21,502,184$15,750,729$50,392,623
79$65,311,422$22,478,081$16,200,668$55,047,250
80$71,893,029$23,499,348$16,663,232$60,157,104
81$79,143,434$24,568,133$17,138,767$65,767,793
82$87,130,777$25,686,683$17,627,628$71,929,536
83$95,930,141$26,857,356$18,130,178$78,697,640
84$105,624,270$28,082,621$18,646,794$86,133,009
85$116,304,341$29,365,065$19,177,857$94,302,722
86$128,070,831$30,707,400$19,723,762$103,280,653
87$141,034,461$32,112,468$20,284,914$113,148,167
88$155,317,245$33,583,248$20,861,727$123,994,879
89$171,053,636$35,122,859$21,454,627$135,919,497
90$188,391,802$36,734,574$22,064,052$149,030,743
91$207,495,017$38,421,820$22,690,449$163,448,375
92$228,543,208$40,188,189$23,334,279$179,304,306
93$251,734,652$42,037,446$23,996,014$196,743,849
94$277,287,844$43,973,538$24,676,138$215,927,073
95$305,443,564$46,000,601$25,375,148$237,030,309
96$336,467,146$48,122,970$26,093,554$260,247,806
97$370,650,987$50,345,187$26,831,880$285,793,553
98$408,317,301$52,672,015$27,590,662$313,903,293
99$449,821,167$55,108,444$28,370,450$344,836,734
100$495,553,875$57,659,707$29,171,809$378,879,993