Can I retire at age 64 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%13.8%
1 years$660,633$654,748$649,007$643,403$637,931$627,880
2 years$327,046$320,955$315,052$309,328$303,777$293,676
3 years$215,865$209,748$203,859$198,190$192,728$182,893
4 years$160,285$154,187$148,357$142,785$137,456$127,961
5 years$126,946$120,884$115,131$109,672$104,492$95,365
6 years$104,727$98,711$93,043$87,706$82,681$73,933
7 years$88,863$82,897$77,319$72,108$67,241$58,876
8 years$76,970$71,058$65,573$60,489$55,783$47,798
9 years$67,725$61,869$56,478$51,524$46,978$39,368
10 years$60,333$54,535$49,239$44,414$40,027$32,788
11 years$54,289$48,549$43,349$38,653$34,425$27,547
12 years$49,256$43,575$38,471$33,904$29,832$23,308
13 years$45,001$39,379$34,371$29,932$26,014$19,835
14 years$41,357$35,794$30,883$26,571$22,804$16,959
15 years$38,201$32,699$27,883$23,696$20,078$14,557
16 years$35,443$30,001$25,280$21,217$17,745$12,536
17 years$33,012$27,629$23,004$19,064$15,734$10,826
18 years$30,853$25,531$21,000$17,180$13,990$9,371
19 years$28,924$23,662$19,224$15,524$12,470$8,128
20 years$27,189$21,988$17,643$14,060$11,138$7,062
21 years$25,622$20,481$16,228$12,760$9,967$6,145
22 years$24,200$19,118$14,957$11,602$8,934$5,354
23 years$22,903$17,881$13,810$10,566$8,020$4,670
24 years$21,716$16,753$12,772$9,637$7,208$4,077
25 years$20,625$15,722$11,829$8,801$6,487$3,562
26 years$19,620$14,776$10,971$8,047$5,843$3,115
27 years$18,691$13,906$10,188$7,366$5,268$2,725
28 years$17,830$13,103$9,471$6,749$4,753$2,385
29 years$17,030$12,362$8,813$6,189$4,292$2,089
30 years$16,285$11,674$8,209$5,680$3,878$1,830
31 years$15,589$11,036$7,653$5,216$3,506$1,604
32 years$14,937$10,442$7,141$4,794$3,172$1,407
33 years$14,327$9,889$6,667$4,408$2,870$1,234
34 years$13,753$9,373$6,229$4,056$2,599$1,082
35 years$13,214$8,890$5,824$3,734$2,354$950
36 years$12,706$8,438$5,448$3,439$2,133$833
37 years$12,226$8,014$5,100$3,168$1,933$731
38 years$11,773$7,616$4,775$2,920$1,752$642
39 years$11,344$7,242$4,474$2,693$1,589$564
40 years$10,937$6,890$4,194$2,484$1,441$495
41 years$10,552$6,559$3,932$2,291$1,308$435
42 years$10,185$6,246$3,689$2,115$1,187$382
43 years$9,837$5,952$3,461$1,952$1,077$335
44 years$9,505$5,673$3,249$1,803$977$294
45 years$9,189$5,410$3,051$1,665$887$259
46 years$8,888$5,161$2,865$1,538$806$227
47 years$8,600$4,925$2,692$1,421$732$200
48 years$8,325$4,702$2,530$1,313$664$175
49 years$8,062$4,490$2,378$1,213$603$154
50 years$7,811$4,289$2,235$1,121$548$135

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 $5,901 every year, while hoping to spend $35,297 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: 52/39/9 Blend
63$8,000,000$8,000,000$8,000,000$8,000,000
64$8,822,087$8,398,087$8,274,087$9,260,307
65$9,684,384$8,772,037$8,513,713$9,932,994
66$10,633,452$9,163,128$8,760,184$10,659,861
67$11,678,106$9,572,163$9,013,691$11,449,501
68$12,828,055$9,999,981$9,274,432$12,307,840
69$14,094,000$10,447,464$9,542,609$13,241,389
70$15,487,733$10,915,534$9,818,431$14,257,302
71$17,022,245$11,405,159$10,102,112$15,363,440
72$18,711,852$11,917,350$10,393,871$16,568,440
73$20,572,329$12,453,168$10,693,934$17,881,797
74$22,621,059$13,013,726$11,002,533$19,313,950
75$24,877,196$13,600,187$11,319,906$20,876,371
76$27,361,845$14,213,771$11,646,298$22,581,679
77$30,098,264$14,855,757$11,981,961$24,443,746
78$33,112,082$15,527,484$12,327,151$26,477,831
79$36,431,539$16,230,355$12,682,135$28,700,716
80$40,087,754$16,965,841$13,047,185$31,130,860
81$44,115,019$17,735,481$13,422,580$33,788,571
82$48,551,122$18,540,891$13,808,607$36,696,189
83$53,437,704$19,383,762$14,205,563$39,878,296
84$58,820,649$20,265,866$14,613,749$43,361,940
85$64,750,522$21,189,060$15,033,476$47,176,883
86$71,283,043$22,155,291$15,465,065$51,355,883
87$78,479,611$23,166,599$15,908,843$55,934,990
88$86,407,889$24,225,120$16,365,147$60,953,881
89$95,142,437$25,333,094$16,834,323$66,456,231
90$104,765,419$26,492,869$17,316,726$72,490,118
91$115,367,376$27,706,904$17,812,720$79,108,466
92$127,048,083$28,977,777$18,322,681$86,369,538
93$139,917,490$30,308,190$18,846,993$94,337,482
94$154,096,756$31,700,974$19,386,049$103,082,923
95$169,719,400$33,159,096$19,940,257$112,683,623
96$186,932,553$34,685,667$20,510,030$123,225,207
97$205,898,355$36,283,945$21,095,797$134,801,959
98$226,795,476$37,957,348$21,697,995$147,517,705
99$249,820,812$39,709,455$22,317,075$161,486,779
100$275,191,336$41,544,020$22,953,499$176,835,095