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

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$693,664$687,485$681,457$675,573$669,828$653,635
2 years$343,398$337,003$330,804$324,795$318,966$302,749
3 years$226,658$220,235$214,052$208,099$202,365$186,631
4 years$168,299$161,896$155,775$149,924$144,328$129,199
5 years$133,293$126,928$120,888$115,156$109,716$95,233
6 years$109,964$103,647$97,695$92,091$86,815$72,992
7 years$93,306$87,042$81,185$75,713$70,604$57,444
8 years$80,819$74,611$68,852$63,514$58,572$46,070
9 years$71,111$64,963$59,302$54,100$49,326$37,471
10 years$63,350$57,261$51,701$46,634$42,029$30,807
11 years$57,004$50,976$45,517$40,586$36,146$25,542
12 years$51,719$45,754$40,395$35,599$31,323$21,319
13 years$47,251$41,348$36,090$31,429$27,315$17,891
14 years$43,425$37,584$32,427$27,899$23,944$15,080
15 years$40,111$34,334$29,277$24,881$21,082$12,757
16 years$37,215$31,501$26,544$22,278$18,632$10,825
17 years$34,662$29,011$24,154$20,017$16,521$9,208
18 years$32,396$26,807$22,050$18,039$14,689$7,850
19 years$30,370$24,845$20,185$16,300$13,093$6,703
20 years$28,549$23,087$18,525$14,763$11,695$5,733
21 years$26,904$21,505$17,040$13,398$10,466$4,909
22 years$25,410$20,074$15,705$12,182$9,381$4,209
23 years$24,048$18,775$14,500$11,094$8,421$3,611
24 years$22,802$17,591$13,410$10,119$7,569$3,101
25 years$21,656$16,508$12,421$9,241$6,811$2,665
26 years$20,601$15,515$11,520$8,449$6,135$2,291
27 years$19,626$14,601$10,697$7,734$5,531$1,971
28 years$18,722$13,759$9,944$7,086$4,991$1,696
29 years$17,882$12,980$9,254$6,498$4,507$1,460
30 years$17,099$12,258$8,620$5,964$4,072$1,257
31 years$16,368$11,588$8,036$5,477$3,682$1,083
32 years$15,684$10,964$7,498$5,034$3,330$933
33 years$15,043$10,383$7,001$4,629$3,014$804
34 years$14,441$9,841$6,541$4,259$2,729$693
35 years$13,875$9,334$6,115$3,921$2,471$597
36 years$13,341$8,860$5,721$3,611$2,239$515
37 years$12,837$8,415$5,354$3,327$2,030$444
38 years$12,361$7,997$5,014$3,066$1,840$383
39 years$11,911$7,604$4,698$2,827$1,669$330
40 years$11,484$7,235$4,403$2,608$1,513$285
41 years$11,079$6,887$4,129$2,406$1,373$246
42 years$10,694$6,559$3,873$2,221$1,246$212
43 years$10,329$6,249$3,634$2,050$1,131$183
44 years$9,980$5,957$3,411$1,893$1,026$158
45 years$9,649$5,680$3,203$1,748$932$136
46 years$9,332$5,419$3,009$1,615$846$117
47 years$9,030$5,171$2,826$1,492$768$101
48 years$8,741$4,937$2,656$1,378$698$87
49 years$8,465$4,714$2,497$1,274$634$75
50 years$8,201$4,503$2,347$1,177$575$65

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 $2,193 every year, while hoping to spend $23,399 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: 35/43/22 Blend
63$8,400,000$8,400,000$8,400,000$8,400,000
64$9,259,062$8,813,862$8,683,662$9,521,148
65$10,178,590$9,220,845$8,949,668$10,121,612
66$11,191,126$9,646,986$9,223,802$10,766,746
67$12,306,131$10,093,199$9,506,310$11,462,362
68$13,534,032$10,560,441$9,797,447$12,212,973
69$14,886,319$11,049,718$10,097,477$13,023,521
70$16,375,651$11,562,082$10,406,670$13,899,426
71$18,015,979$12,098,636$10,725,305$14,846,631
72$19,822,676$12,660,536$11,053,670$15,871,651
73$21,812,682$13,248,995$11,392,060$16,981,635
74$24,004,663$13,865,283$11,740,782$18,184,425
75$26,419,190$14,510,733$12,100,149$19,488,626
76$29,078,929$15,186,741$12,470,486$20,903,686
77$32,008,858$15,894,769$12,852,125$22,439,975
78$35,236,502$16,636,354$13,245,412$24,108,878
79$38,792,192$17,413,102$13,650,701$25,922,901
80$42,709,352$18,226,700$14,068,355$27,895,779
81$47,024,813$19,078,916$14,498,753$30,042,601
82$51,779,164$19,971,602$14,942,280$32,379,946
83$57,017,129$20,906,702$15,399,337$34,926,031
84$62,787,996$21,886,250$15,870,335$37,700,878
85$69,146,078$22,912,383$16,355,698$40,726,495
86$76,151,227$23,987,338$16,855,862$44,027,077
87$83,869,396$25,113,462$17,371,278$47,629,222
88$92,373,266$26,293,214$17,902,408$51,562,178
89$101,742,932$27,529,173$18,449,731$55,858,110
90$112,066,652$28,824,044$19,013,738$60,552,390
91$123,441,689$30,180,660$19,594,936$65,683,927
92$135,975,223$31,601,994$20,193,849$71,295,520
93$149,785,366$33,091,162$20,811,012$77,434,251
94$165,002,274$34,651,430$21,446,982$84,151,923
95$181,769,379$36,286,224$22,102,330$91,505,532
96$200,244,741$37,999,134$22,777,643$99,557,795
97$220,602,538$39,793,925$23,473,527$108,377,729
98$243,034,715$41,674,545$24,190,609$118,041,289
99$267,752,792$43,645,133$24,929,530$128,632,073
100$294,989,861$45,710,029$25,690,953$140,242,092