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

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$734,954$728,407$722,020$715,786$709,698$690,581
2 years$363,838$357,062$350,495$344,128$337,952$318,828
3 years$240,150$233,344$226,794$220,486$214,410$195,879
4 years$178,317$171,533$165,048$158,848$152,919$135,122
5 years$141,228$134,484$128,084$122,010$116,247$99,233
6 years$116,509$109,816$103,511$97,573$91,982$75,768
7 years$98,860$92,223$86,018$80,220$74,806$59,393
8 years$85,629$79,052$72,950$67,294$62,059$47,438
9 years$75,344$68,829$62,832$57,320$52,263$38,421
10 years$67,121$60,670$54,778$49,410$44,530$31,450
11 years$60,397$54,011$48,226$43,002$38,298$25,959
12 years$54,798$48,477$42,799$37,718$33,188$21,568
13 years$50,064$43,809$38,238$33,300$28,940$18,015
14 years$46,010$39,821$34,357$29,560$25,369$15,112
15 years$42,499$36,377$31,020$26,362$22,337$12,722
16 years$39,430$33,376$28,124$23,604$19,741$10,741
17 years$36,726$30,738$25,592$21,208$17,504$9,091
18 years$34,324$28,403$23,362$19,113$15,564$7,709
19 years$32,178$26,324$21,387$17,270$13,872$6,549
20 years$30,248$24,461$19,628$15,642$12,391$5,571
21 years$28,505$22,785$18,054$14,196$11,089$4,745
22 years$26,922$21,269$16,639$12,907$9,939$4,046
23 years$25,479$19,892$15,363$11,755$8,922$3,453
24 years$24,159$18,638$14,209$10,721$8,019$2,948
25 years$22,946$17,490$13,160$9,791$7,216$2,519
26 years$21,828$16,438$12,205$8,952$6,500$2,154
27 years$20,794$15,470$11,334$8,194$5,860$1,842
28 years$19,836$14,578$10,536$7,508$5,288$1,577
29 years$18,946$13,752$9,805$6,885$4,775$1,349
30 years$18,117$12,988$9,133$6,319$4,314$1,155
31 years$17,342$12,278$8,514$5,803$3,901$989
32 years$16,618$11,617$7,944$5,333$3,528$848
33 years$15,939$11,002$7,417$4,904$3,193$726
34 years$15,301$10,427$6,930$4,512$2,891$622
35 years$14,701$9,890$6,479$4,154$2,619$533
36 years$14,135$9,387$6,061$3,826$2,373$457
37 years$13,602$8,915$5,673$3,525$2,150$392
38 years$13,097$8,473$5,313$3,249$1,949$336
39 years$12,620$8,057$4,977$2,996$1,768$288
40 years$12,168$7,665$4,665$2,763$1,604$247
41 years$11,739$7,297$4,375$2,549$1,455$212
42 years$11,331$6,949$4,104$2,353$1,320$181
43 years$10,943$6,621$3,851$2,172$1,198$156
44 years$10,574$6,311$3,614$2,005$1,087$133
45 years$10,223$6,018$3,394$1,852$987$114
46 years$9,888$5,741$3,188$1,711$896$98
47 years$9,568$5,479$2,995$1,580$814$84
48 years$9,262$5,230$2,814$1,460$739$72
49 years$8,969$4,995$2,645$1,350$671$62
50 years$8,690$4,771$2,487$1,248$610$53

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 $6,827 every year, while hoping to spend $29,027 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: 69/24/7 Blend
58$8,900,000$8,900,000$8,900,000$8,900,000
59$9,814,842$9,343,142$9,205,192$10,480,594
60$10,785,071$9,770,072$9,482,681$11,349,100
61$11,853,291$10,216,948$9,768,494$12,294,618
62$13,029,466$10,684,717$10,062,878$13,328,105
63$14,324,576$11,174,372$10,366,088$14,458,179
64$15,750,719$11,686,953$10,678,388$15,694,321
65$17,321,227$12,223,549$11,000,049$17,046,961
66$19,050,791$12,785,301$11,331,350$18,527,577
67$20,955,599$13,373,408$11,672,577$20,148,802
68$23,053,488$13,989,123$12,024,027$21,924,535
69$25,364,115$14,633,762$12,386,003$23,870,077
70$27,909,141$15,308,702$12,758,819$26,002,266
71$30,712,432$16,015,387$13,142,799$28,339,638
72$33,800,290$16,755,331$13,538,273$30,902,599
73$37,201,699$17,530,121$13,945,584$33,713,609
74$40,948,595$18,341,420$14,365,084$36,797,398
75$45,076,172$19,190,971$14,797,135$40,181,192
76$49,623,214$20,080,600$15,242,111$43,894,968
77$54,632,456$21,012,224$15,700,396$47,971,730
78$60,150,992$21,987,848$16,172,385$52,447,823
79$66,230,719$23,009,578$16,658,485$57,363,267
80$72,928,824$24,079,619$17,159,116$62,762,132
81$80,308,327$25,200,284$17,674,709$68,692,950
82$88,438,673$26,373,994$18,205,709$75,209,169
83$97,396,389$27,603,292$18,752,572$82,369,651
84$107,265,808$28,890,840$19,315,770$90,239,225
85$118,139,859$30,239,430$19,895,787$98,889,291
86$130,120,951$31,651,989$20,493,123$108,398,492
87$143,321,935$33,131,583$21,108,290$118,853,448
88$157,867,173$34,681,431$21,741,817$130,349,568
89$173,893,706$36,304,902$22,394,249$142,991,944
90$191,552,554$38,005,532$23,066,147$156,896,340
91$211,010,137$39,787,027$23,758,086$172,190,273
92$232,449,850$41,653,270$24,470,660$189,014,213
93$256,073,789$43,608,334$25,204,481$207,522,901
94$282,104,662$45,656,489$25,960,178$227,886,799
95$310,787,892$47,802,211$26,738,399$250,293,697
96$342,393,930$50,050,193$27,539,809$274,950,470
97$377,220,813$52,405,355$28,365,094$302,085,027
98$415,596,974$54,872,855$29,214,963$331,948,453
99$457,884,341$57,458,101$30,090,140$364,817,364
100$504,481,759$60,166,763$30,991,375$400,996,517