Can I retire at age 64 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$660,633$654,748$649,007$643,403$637,931$626,590
2 years$327,046$320,955$315,052$309,328$303,777$292,389
3 years$215,865$209,748$203,859$198,190$192,728$181,649
4 years$160,285$154,187$148,357$142,785$137,456$126,770
5 years$126,946$120,884$115,131$109,672$104,492$94,231
6 years$104,727$98,711$93,043$87,706$82,681$72,856
7 years$88,863$82,897$77,319$72,108$67,241$57,855
8 years$76,970$71,058$65,573$60,489$55,783$46,834
9 years$67,725$61,869$56,478$51,524$46,978$38,459
10 years$60,333$54,535$49,239$44,414$40,027$31,933
11 years$54,289$48,549$43,349$38,653$34,425$26,745
12 years$49,256$43,575$38,471$33,904$29,832$22,557
13 years$45,001$39,379$34,371$29,932$26,014$19,132
14 years$41,357$35,794$30,883$26,571$22,804$16,303
15 years$38,201$32,699$27,883$23,696$20,078$13,946
16 years$35,443$30,001$25,280$21,217$17,745$11,968
17 years$33,012$27,629$23,004$19,064$15,734$10,299
18 years$30,853$25,531$21,000$17,180$13,990$8,883
19 years$28,924$23,662$19,224$15,524$12,470$7,676
20 years$27,189$21,988$17,643$14,060$11,138$6,644
21 years$25,622$20,481$16,228$12,760$9,967$5,760
22 years$24,200$19,118$14,957$11,602$8,934$4,999
23 years$22,903$17,881$13,810$10,566$8,020$4,343
24 years$21,716$16,753$12,772$9,637$7,208$3,777
25 years$20,625$15,722$11,829$8,801$6,487$3,287
26 years$19,620$14,776$10,971$8,047$5,843$2,863
27 years$18,691$13,906$10,188$7,366$5,268$2,495
28 years$17,830$13,103$9,471$6,749$4,753$2,175
29 years$17,030$12,362$8,813$6,189$4,292$1,897
30 years$16,285$11,674$8,209$5,680$3,878$1,655
31 years$15,589$11,036$7,653$5,216$3,506$1,445
32 years$14,937$10,442$7,141$4,794$3,172$1,262
33 years$14,327$9,889$6,667$4,408$2,870$1,102
34 years$13,753$9,373$6,229$4,056$2,599$962
35 years$13,214$8,890$5,824$3,734$2,354$841
36 years$12,706$8,438$5,448$3,439$2,133$735
37 years$12,226$8,014$5,100$3,168$1,933$642
38 years$11,773$7,616$4,775$2,920$1,752$561
39 years$11,344$7,242$4,474$2,693$1,589$491
40 years$10,937$6,890$4,194$2,484$1,441$429
41 years$10,552$6,559$3,932$2,291$1,308$375
42 years$10,185$6,246$3,689$2,115$1,187$328
43 years$9,837$5,952$3,461$1,952$1,077$287
44 years$9,505$5,673$3,249$1,803$977$251
45 years$9,189$5,410$3,051$1,665$887$219
46 years$8,888$5,161$2,865$1,538$806$192
47 years$8,600$4,925$2,692$1,421$732$168
48 years$8,325$4,702$2,530$1,313$664$147
49 years$8,062$4,490$2,378$1,213$603$128
50 years$7,811$4,289$2,235$1,121$548$112

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,000,000, adding $5,069 every year, while hoping to spend $52,801 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: 50/39/11 Blend
63$8,000,000$8,000,000$8,000,000$8,000,000
64$8,821,229$8,397,229$8,273,229$9,236,043
65$9,664,814$8,752,513$8,494,202$9,875,862
66$10,592,676$9,123,437$8,720,808$10,564,755
67$11,613,354$9,510,710$8,953,180$11,312,138
68$12,736,258$9,915,077$9,191,454$12,123,516
69$13,971,756$10,337,316$9,435,768$13,004,936
70$15,331,272$10,778,241$9,686,262$13,963,041
71$16,827,392$11,238,705$9,943,082$15,005,132
72$18,473,984$11,719,600$10,206,374$16,139,233
73$20,286,330$12,221,860$10,476,287$17,374,163
74$22,281,267$12,746,462$10,752,974$18,719,616
75$24,477,349$13,294,431$11,036,591$20,186,252
76$26,895,017$13,866,837$11,327,296$21,785,791
77$29,556,799$14,464,802$11,625,251$23,531,123
78$32,487,515$15,089,500$11,930,619$25,436,423
79$35,714,515$15,742,159$12,243,568$27,517,283
80$39,267,938$16,424,067$12,564,270$29,790,854
81$43,180,992$17,136,571$12,892,897$32,276,007
82$47,490,270$17,881,080$13,229,627$34,993,502
83$52,236,097$18,659,072$13,574,638$37,966,180
84$57,462,905$19,472,093$13,928,115$41,219,180
85$63,219,658$20,321,762$14,290,243$44,780,163
86$69,560,309$21,209,774$14,661,212$48,679,572
87$76,544,312$22,137,904$15,041,214$52,950,916
88$84,237,182$23,108,012$15,430,445$57,631,077
89$92,711,113$24,122,043$15,829,104$62,760,651
90$102,045,660$25,182,037$16,237,392$68,384,332
91$112,328,489$26,290,128$16,655,516$74,551,319
92$123,656,202$27,448,552$17,083,683$81,315,781
93$136,135,253$28,659,650$17,522,106$88,737,354
94$149,882,951$29,925,874$17,970,998$96,881,704
95$165,028,563$31,249,794$18,430,578$105,821,134
96$181,714,541$32,634,098$18,901,067$115,635,259
97$200,097,861$34,081,605$19,382,688$126,411,752
98$220,351,504$35,595,265$19,875,670$138,247,160
99$242,666,095$37,178,170$20,380,242$151,247,808
100$267,251,694$38,833,558$20,896,638$165,530,790