Can I retire at age 64 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$685,406$679,301$673,344$667,531$661,854$655,761
2 years$339,310$332,991$326,866$320,928$315,168$309,030
3 years$223,960$217,613$211,504$205,622$199,956$193,961
4 years$166,296$159,969$153,921$148,139$142,610$136,806
5 years$131,707$125,417$119,449$113,785$108,410$102,814
6 years$108,655$102,413$96,532$90,995$85,781$80,400
7 years$92,195$86,006$80,219$74,812$69,763$64,598
8 years$79,857$73,723$68,032$62,758$57,875$52,927
9 years$70,265$64,189$58,596$53,456$48,739$44,007
10 years$62,596$56,580$51,085$46,079$41,528$37,008
11 years$56,325$50,370$44,975$40,103$35,716$31,405
12 years$51,104$45,209$39,914$35,176$30,950$26,844
13 years$46,689$40,856$35,660$31,055$26,989$23,083
14 years$42,908$37,137$32,041$27,567$23,659$19,947
15 years$39,634$33,925$28,929$24,585$20,831$17,309
16 years$36,772$31,126$26,228$22,013$18,411$15,072
17 years$34,250$28,665$23,867$19,779$16,324$13,164
18 years$32,010$26,488$21,787$17,824$14,515$11,526
19 years$30,008$24,549$19,945$16,106$12,937$10,114
20 years$28,209$22,812$18,305$14,587$11,556$8,892
21 years$26,583$21,249$16,837$13,239$10,341$7,831
22 years$25,107$19,835$15,518$12,037$9,269$6,906
23 years$23,762$18,551$14,328$10,962$8,321$6,098
24 years$22,530$17,381$13,251$9,998$7,479$5,390
25 years$21,399$16,311$12,273$9,131$6,730$4,769
26 years$20,356$15,330$11,382$8,349$6,062$4,223
27 years$19,392$14,427$10,570$7,642$5,465$3,742
28 years$18,499$13,595$9,826$7,002$4,931$3,319
29 years$17,669$12,825$9,144$6,421$4,453$2,944
30 years$16,895$12,112$8,517$5,893$4,024$2,614
31 years$16,173$11,450$7,940$5,412$3,638$2,321
32 years$15,497$10,834$7,408$4,974$3,291$2,062
33 years$14,864$10,260$6,917$4,574$2,978$1,833
34 years$14,269$9,724$6,463$4,208$2,696$1,630
35 years$13,710$9,223$6,042$3,874$2,442$1,449
36 years$13,182$8,754$5,653$3,568$2,213$1,289
37 years$12,685$8,314$5,291$3,287$2,005$1,147
38 years$12,214$7,902$4,955$3,030$1,818$1,021
39 years$11,769$7,514$4,642$2,794$1,649$908
40 years$11,347$7,149$4,351$2,577$1,495$809
41 years$10,947$6,805$4,080$2,377$1,357$720
42 years$10,567$6,481$3,827$2,194$1,231$641
43 years$10,206$6,175$3,591$2,025$1,117$571
44 years$9,862$5,886$3,371$1,870$1,014$508
45 years$9,534$5,613$3,165$1,727$921$453
46 years$9,221$5,354$2,973$1,595$836$403
47 years$8,923$5,110$2,793$1,474$759$359
48 years$8,637$4,878$2,624$1,362$689$320
49 years$8,365$4,658$2,467$1,259$626$285
50 years$8,104$4,450$2,319$1,163$569$254

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,300,000, adding $3,078 every year, while hoping to spend $54,111 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: 34/41/25 Blend
63$8,300,000$8,300,000$8,300,000$8,300,000
64$9,149,775$8,709,875$8,581,225$9,391,241
65$10,025,478$9,079,085$8,811,122$9,941,379
66$10,988,690$9,464,573$9,046,908$10,529,105
67$12,048,278$9,867,079$9,288,721$11,161,822
68$13,214,015$10,287,378$9,536,706$11,843,562
69$14,496,667$10,726,282$9,791,007$12,578,745
70$15,908,096$11,184,639$10,051,775$13,372,219
71$17,461,372$11,663,337$10,319,161$14,229,304
72$19,170,899$12,163,307$10,593,319$15,155,835
73$21,052,544$12,685,523$10,874,409$16,158,218
74$23,123,793$13,231,002$11,162,590$17,243,485
75$25,403,911$13,800,813$11,458,029$18,419,355
76$27,914,128$14,396,071$11,760,891$19,694,306
77$30,677,837$15,017,947$12,071,349$21,077,650
78$33,720,813$15,667,662$12,389,575$22,579,616
79$37,071,458$16,346,500$12,715,748$24,211,444
80$40,761,069$17,055,801$13,050,048$25,985,482
81$44,824,133$17,796,970$13,392,660$27,915,305
82$49,298,651$18,571,477$13,743,770$30,015,831
83$54,226,496$19,380,863$14,103,569$32,303,462
84$59,653,813$20,226,739$14,472,253$34,796,231
85$65,631,446$21,110,794$14,850,018$37,513,965
86$72,215,426$22,034,795$15,237,066$40,478,471
87$79,467,493$23,000,594$15,633,601$43,713,730
88$87,455,683$24,010,129$16,039,833$47,246,123
89$96,254,968$25,065,430$16,455,972$51,104,667
90$105,947,962$26,168,623$16,882,234$55,321,287
91$116,625,703$27,321,935$17,318,838$59,931,107
92$128,388,512$28,527,697$17,766,006$64,972,776
93$141,346,937$29,788,352$18,223,965$70,488,823
94$155,622,801$31,106,456$18,692,943$76,526,052
95$171,350,344$32,484,690$19,173,174$83,135,974
96$188,677,498$33,925,859$19,664,894$90,375,283
97$207,767,278$35,432,902$20,168,344$98,306,384
98$228,799,323$37,008,897$20,683,767$106,997,972
99$251,971,591$38,657,069$21,211,409$116,525,668
100$277,502,223$40,380,796$21,751,521$126,972,723