Can I retire at age 64 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$693,664$687,485$681,457$675,573$669,828$665,886
2 years$343,398$337,003$330,804$324,795$318,966$314,988
3 years$226,658$220,235$214,052$208,099$202,365$198,476
4 years$168,299$161,896$155,775$149,924$144,328$140,557
5 years$133,293$126,928$120,888$115,156$109,716$106,074
6 years$109,964$103,647$97,695$92,091$86,815$83,307
7 years$93,306$87,042$81,185$75,713$70,604$67,231
8 years$80,819$74,611$68,852$63,514$58,572$55,336
9 years$71,111$64,963$59,302$54,100$49,326$46,225
10 years$63,350$57,261$51,701$46,634$42,029$39,061
11 years$57,004$50,976$45,517$40,586$36,146$33,309
12 years$51,719$45,754$40,395$35,599$31,323$28,616
13 years$47,251$41,348$36,090$31,429$27,315$24,733
14 years$43,425$37,584$32,427$27,899$23,944$21,486
15 years$40,111$34,334$29,277$24,881$21,082$18,744
16 years$37,215$31,501$26,544$22,278$18,632$16,411
17 years$34,662$29,011$24,154$20,017$16,521$14,413
18 years$32,396$26,807$22,050$18,039$14,689$12,691
19 years$30,370$24,845$20,185$16,300$13,093$11,201
20 years$28,549$23,087$18,525$14,763$11,695$9,905
21 years$26,904$21,505$17,040$13,398$10,466$8,774
22 years$25,410$20,074$15,705$12,182$9,381$7,784
23 years$24,048$18,775$14,500$11,094$8,421$6,915
24 years$22,802$17,591$13,410$10,119$7,569$6,150
25 years$21,656$16,508$12,421$9,241$6,811$5,475
26 years$20,601$15,515$11,520$8,449$6,135$4,879
27 years$19,626$14,601$10,697$7,734$5,531$4,351
28 years$18,722$13,759$9,944$7,086$4,991$3,883
29 years$17,882$12,980$9,254$6,498$4,507$3,468
30 years$17,099$12,258$8,620$5,964$4,072$3,098
31 years$16,368$11,588$8,036$5,477$3,682$2,770
32 years$15,684$10,964$7,498$5,034$3,330$2,477
33 years$15,043$10,383$7,001$4,629$3,014$2,216
34 years$14,441$9,841$6,541$4,259$2,729$1,983
35 years$13,875$9,334$6,115$3,921$2,471$1,776
36 years$13,341$8,860$5,721$3,611$2,239$1,590
37 years$12,837$8,415$5,354$3,327$2,030$1,424
38 years$12,361$7,997$5,014$3,066$1,840$1,276
39 years$11,911$7,604$4,698$2,827$1,669$1,144
40 years$11,484$7,235$4,403$2,608$1,513$1,025
41 years$11,079$6,887$4,129$2,406$1,373$919
42 years$10,694$6,559$3,873$2,221$1,246$824
43 years$10,329$6,249$3,634$2,050$1,131$739
44 years$9,980$5,957$3,411$1,893$1,026$662
45 years$9,649$5,680$3,203$1,748$932$594
46 years$9,332$5,419$3,009$1,615$846$533
47 years$9,030$5,171$2,826$1,492$768$478
48 years$8,741$4,937$2,656$1,378$698$429
49 years$8,465$4,714$2,497$1,274$634$385
50 years$8,201$4,503$2,347$1,177$575$345

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,400,000, adding $5,742 every year, while hoping to spend $57,781 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: 24/48/28 Blend
63$8,400,000$8,400,000$8,400,000$8,400,000
64$9,262,723$8,817,523$8,687,323$9,403,202
65$10,146,042$9,188,103$8,916,870$9,893,710
66$11,117,523$9,574,905$9,152,170$10,413,612
67$12,186,098$9,978,663$9,393,355$10,969,438
68$13,361,607$10,400,144$9,640,559$11,564,215
69$14,654,892$10,840,152$9,893,919$12,201,255
70$16,077,900$11,299,529$10,153,574$12,884,182
71$17,643,794$11,779,153$10,419,667$13,616,962
72$19,367,075$12,279,947$10,692,341$14,403,935
73$21,263,726$12,802,873$10,971,743$15,249,857
74$23,351,353$13,348,941$11,258,023$16,159,935
75$25,649,358$13,919,206$11,551,334$17,139,876
76$28,179,118$14,514,773$11,851,830$18,195,936
77$30,964,191$15,136,799$12,159,668$19,334,973
78$34,030,531$15,786,495$12,475,009$20,564,508
79$37,406,739$16,465,127$12,798,016$21,892,791
80$41,124,331$17,174,023$13,128,855$23,328,872
81$45,218,034$17,914,571$13,467,692$24,882,685
82$49,726,113$18,688,225$13,814,700$26,565,132
83$54,690,736$19,496,507$14,170,051$28,388,182
84$60,158,366$20,341,011$14,533,923$30,364,976
85$66,180,203$21,223,404$14,906,493$32,509,949
86$72,812,666$22,145,433$15,287,943$34,838,954
87$80,117,926$23,108,928$15,678,458$37,369,408
88$88,164,492$24,115,802$16,078,223$40,120,449
89$97,027,855$25,168,062$16,487,428$43,113,107
90$106,791,204$26,267,805$16,906,265$46,370,498
91$117,546,210$27,417,231$17,334,929$49,918,028
92$129,393,889$28,618,641$17,773,615$53,783,632
93$142,445,558$29,874,446$18,222,522$57,998,022
94$156,823,882$31,187,171$18,681,854$62,594,971
95$172,664,034$32,559,458$19,151,812$67,611,618
96$190,114,971$33,994,078$19,632,604$73,088,815
97$209,340,840$35,493,929$20,124,437$79,071,495
98$230,522,522$37,062,048$20,627,522$85,609,088
99$253,859,346$38,701,615$21,142,072$92,755,976
100$279,570,968$40,415,963$21,668,299$100,571,993