Can I retire at age 60 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$660,633$654,748$649,007$643,403$637,931$628,658
2 years$327,046$320,955$315,052$309,328$303,777$294,453
3 years$215,865$209,748$203,859$198,190$192,728$183,645
4 years$160,285$154,187$148,357$142,785$137,456$128,682
5 years$126,946$120,884$115,131$109,672$104,492$96,053
6 years$104,727$98,711$93,043$87,706$82,681$74,588
7 years$88,863$82,897$77,319$72,108$67,241$59,497
8 years$76,970$71,058$65,573$60,489$55,783$48,385
9 years$67,725$61,869$56,478$51,524$46,978$39,923
10 years$60,333$54,535$49,239$44,414$40,027$33,311
11 years$54,289$48,549$43,349$38,653$34,425$28,040
12 years$49,256$43,575$38,471$33,904$29,832$23,770
13 years$45,001$39,379$34,371$29,932$26,014$20,268
14 years$41,357$35,794$30,883$26,571$22,804$17,364
15 years$38,201$32,699$27,883$23,696$20,078$14,935
16 years$35,443$30,001$25,280$21,217$17,745$12,889
17 years$33,012$27,629$23,004$19,064$15,734$11,154
18 years$30,853$25,531$21,000$17,180$13,990$9,676
19 years$28,924$23,662$19,224$15,524$12,470$8,411
20 years$27,189$21,988$17,643$14,060$11,138$7,325
21 years$25,622$20,481$16,228$12,760$9,967$6,388
22 years$24,200$19,118$14,957$11,602$8,934$5,578
23 years$22,903$17,881$13,810$10,566$8,020$4,876
24 years$21,716$16,753$12,772$9,637$7,208$4,267
25 years$20,625$15,722$11,829$8,801$6,487$3,737
26 years$19,620$14,776$10,971$8,047$5,843$3,276
27 years$18,691$13,906$10,188$7,366$5,268$2,873
28 years$17,830$13,103$9,471$6,749$4,753$2,521
29 years$17,030$12,362$8,813$6,189$4,292$2,213
30 years$16,285$11,674$8,209$5,680$3,878$1,944
31 years$15,589$11,036$7,653$5,216$3,506$1,708
32 years$14,937$10,442$7,141$4,794$3,172$1,501
33 years$14,327$9,889$6,667$4,408$2,870$1,320
34 years$13,753$9,373$6,229$4,056$2,599$1,161
35 years$13,214$8,890$5,824$3,734$2,354$1,021
36 years$12,706$8,438$5,448$3,439$2,133$898
37 years$12,226$8,014$5,100$3,168$1,933$791
38 years$11,773$7,616$4,775$2,920$1,752$696
39 years$11,344$7,242$4,474$2,693$1,589$612
40 years$10,937$6,890$4,194$2,484$1,441$539
41 years$10,552$6,559$3,932$2,291$1,308$475
42 years$10,185$6,246$3,689$2,115$1,187$418
43 years$9,837$5,952$3,461$1,952$1,077$368
44 years$9,505$5,673$3,249$1,803$977$324
45 years$9,189$5,410$3,051$1,665$887$285
46 years$8,888$5,161$2,865$1,538$806$251
47 years$8,600$4,925$2,692$1,421$732$221
48 years$8,325$4,702$2,530$1,313$664$195
49 years$8,062$4,490$2,378$1,213$603$172
50 years$7,811$4,289$2,235$1,121$548$151

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,000,000, adding $5,413 every year, while hoping to spend $45,196 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: 36/46/18 Blend
59$8,000,000$8,000,000$8,000,000$8,000,000
60$8,821,584$8,397,584$8,273,584$9,090,639
61$9,673,297$8,760,977$8,502,660$9,650,002
62$10,610,370$9,140,662$8,737,897$10,248,830
63$11,641,462$9,537,389$8,979,451$10,894,360
64$12,776,114$9,951,944$9,227,485$11,590,786
65$14,024,838$10,385,149$9,482,166$12,342,706
66$15,399,217$10,837,867$9,743,664$13,155,162
67$16,912,014$11,310,999$10,012,154$14,033,687
68$18,577,292$11,805,490$10,287,813$14,984,347
69$20,410,545$12,322,329$10,570,824$16,013,803
70$22,428,850$12,862,552$10,861,376$17,129,361
71$24,651,019$13,427,243$11,159,658$18,339,046
72$27,097,783$14,017,539$11,465,867$19,651,667
73$29,791,987$14,634,628$11,780,203$21,076,897
74$32,758,802$15,279,757$12,102,872$22,625,362
75$36,025,965$15,954,230$12,434,084$24,308,734
76$39,624,040$16,659,414$12,774,052$26,139,839
77$43,586,706$17,396,740$13,122,998$28,132,769
78$47,951,077$18,167,707$13,481,145$30,303,013
79$52,758,047$18,973,885$13,848,724$32,667,596
80$58,052,681$19,816,918$14,225,969$35,245,232
81$63,884,637$20,698,530$14,613,121$38,056,499
82$70,308,636$21,620,523$15,010,426$41,124,021
83$77,384,977$22,584,789$15,418,136$44,472,680
84$85,180,108$23,593,307$15,836,507$48,129,840
85$93,767,251$24,648,152$16,265,802$52,125,599
86$103,227,094$25,751,495$16,706,290$56,493,068
87$113,648,552$26,905,612$17,158,245$61,268,668
88$125,129,606$28,112,889$17,621,948$66,492,475
89$137,778,228$29,375,822$18,097,685$72,208,582
90$151,713,399$30,697,030$18,585,750$78,465,509
91$167,066,235$32,079,253$19,086,441$85,316,651
92$183,981,219$33,525,364$19,600,065$92,820,770
93$202,617,569$35,038,373$20,126,933$101,042,542
94$223,150,740$36,621,432$20,667,364$110,053,155
95$245,774,080$38,277,847$21,221,685$119,930,967
96$270,700,652$40,011,077$21,790,227$130,762,240
97$298,165,249$41,824,751$22,373,331$142,641,933
98$328,426,609$43,722,668$22,971,342$155,674,590
99$361,769,855$45,708,811$23,584,614$169,975,315
100$398,509,190$47,787,352$24,213,508$185,670,838