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%16.5%
1 years$734,954$728,407$722,020$715,786$709,698$690,860
2 years$363,838$357,062$350,495$344,128$337,952$319,104
3 years$240,150$233,344$226,794$220,486$214,410$196,143
4 years$178,317$171,533$165,048$158,848$152,919$135,373
5 years$141,228$134,484$128,084$122,010$116,247$99,469
6 years$116,509$109,816$103,511$97,573$91,982$75,990
7 years$98,860$92,223$86,018$80,220$74,806$59,600
8 years$85,629$79,052$72,950$67,294$62,059$47,632
9 years$75,344$68,829$62,832$57,320$52,263$38,601
10 years$67,121$60,670$54,778$49,410$44,530$31,618
11 years$60,397$54,011$48,226$43,002$38,298$26,114
12 years$54,798$48,477$42,799$37,718$33,188$21,711
13 years$50,064$43,809$38,238$33,300$28,940$18,146
14 years$46,010$39,821$34,357$29,560$25,369$15,233
15 years$42,499$36,377$31,020$26,362$22,337$12,833
16 years$39,430$33,376$28,124$23,604$19,741$10,842
17 years$36,726$30,738$25,592$21,208$17,504$9,183
18 years$34,324$28,403$23,362$19,113$15,564$7,793
19 years$32,178$26,324$21,387$17,270$13,872$6,625
20 years$30,248$24,461$19,628$15,642$12,391$5,641
21 years$28,505$22,785$18,054$14,196$11,089$4,808
22 years$26,922$21,269$16,639$12,907$9,939$4,103
23 years$25,479$19,892$15,363$11,755$8,922$3,504
24 years$24,159$18,638$14,209$10,721$8,019$2,994
25 years$22,946$17,490$13,160$9,791$7,216$2,561
26 years$21,828$16,438$12,205$8,952$6,500$2,191
27 years$20,794$15,470$11,334$8,194$5,860$1,876
28 years$19,836$14,578$10,536$7,508$5,288$1,606
29 years$18,946$13,752$9,805$6,885$4,775$1,376
30 years$18,117$12,988$9,133$6,319$4,314$1,179
31 years$17,342$12,278$8,514$5,803$3,901$1,011
32 years$16,618$11,617$7,944$5,333$3,528$866
33 years$15,939$11,002$7,417$4,904$3,193$743
34 years$15,301$10,427$6,930$4,512$2,891$637
35 years$14,701$9,890$6,479$4,154$2,619$546
36 years$14,135$9,387$6,061$3,826$2,373$469
37 years$13,602$8,915$5,673$3,525$2,150$402
38 years$13,097$8,473$5,313$3,249$1,949$345
39 years$12,620$8,057$4,977$2,996$1,768$296
40 years$12,168$7,665$4,665$2,763$1,604$254
41 years$11,739$7,297$4,375$2,549$1,455$218
42 years$11,331$6,949$4,104$2,353$1,320$187
43 years$10,943$6,621$3,851$2,172$1,198$160
44 years$10,574$6,311$3,614$2,005$1,087$138
45 years$10,223$6,018$3,394$1,852$987$118
46 years$9,888$5,741$3,188$1,711$896$101
47 years$9,568$5,479$2,995$1,580$814$87
48 years$9,262$5,230$2,814$1,460$739$75
49 years$8,969$4,995$2,645$1,350$671$64
50 years$8,690$4,771$2,487$1,248$610$55

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 $4,123 every year, while hoping to spend $33,260 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: 43/50/7 Blend
58$8,900,000$8,900,000$8,900,000$8,900,000
59$9,812,053$9,340,353$9,202,403$10,214,002
60$10,777,494$9,762,642$9,475,295$10,915,521
61$11,840,295$10,204,508$9,756,214$11,671,301
62$13,010,352$10,666,876$10,045,394$12,489,258
63$14,298,569$11,150,714$10,343,076$13,375,085
64$15,716,961$11,657,036$10,649,507$14,335,026
65$17,278,766$12,186,907$10,964,941$15,375,929
66$18,998,574$12,741,439$11,289,640$16,505,312
67$20,892,460$13,321,801$11,623,874$17,731,424
68$22,978,137$13,929,215$11,967,920$19,063,319
69$25,275,125$14,564,964$12,322,063$20,510,942
70$27,804,931$15,230,391$12,686,596$22,085,209
71$30,591,258$15,926,904$13,061,821$23,798,111
72$33,660,222$16,655,978$13,448,047$25,662,823
73$37,040,603$17,419,160$13,845,595$27,693,814
74$40,764,115$18,218,068$14,254,793$29,906,986
75$44,865,704$19,054,403$14,675,978$32,319,815
76$49,383,880$19,929,943$15,109,497$34,951,507
77$54,361,079$20,846,554$15,555,709$37,823,175
78$59,844,063$21,806,189$16,014,980$40,958,031
79$65,884,364$22,810,899$16,487,688$44,381,594
80$72,538,767$23,862,830$16,974,223$48,121,927
81$79,869,845$24,964,233$17,474,983$52,209,892
82$87,946,555$26,117,467$17,990,382$56,679,431
83$96,844,885$27,325,004$18,520,840$61,567,878
84$106,648,569$28,589,435$19,066,794$66,916,304
85$117,449,882$29,913,476$19,628,691$72,769,890
86$129,350,509$31,299,975$20,206,991$79,178,348
87$142,462,503$32,751,916$20,802,167$86,196,375
88$156,909,345$34,272,427$21,414,706$93,884,160
89$172,827,108$35,864,786$22,045,109$102,307,938
90$190,365,743$37,532,430$22,693,890$111,540,605
91$209,690,493$39,278,963$23,361,579$121,662,391
92$230,983,451$41,108,160$24,048,720$132,761,603
93$254,445,283$43,023,980$24,755,873$144,935,446
94$280,297,121$45,030,574$25,483,613$158,290,924
95$308,782,646$47,132,291$26,232,533$172,945,832
96$340,170,394$49,333,691$27,003,241$189,029,855
97$374,756,287$51,639,556$27,796,363$206,685,772
98$412,866,430$54,054,895$28,612,542$226,070,785
99$454,860,186$56,584,965$29,452,442$247,357,985
100$501,133,567$59,235,270$30,316,741$270,737,967