Can I retire at age 64 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$701,922$695,670$689,570$683,616$677,802$655,318
2 years$347,486$341,015$334,743$328,661$322,763$300,329
3 years$229,356$222,857$216,601$210,577$204,774$183,095
4 years$170,303$163,823$157,630$151,709$146,047$125,287
5 years$134,880$128,439$122,327$116,527$111,022$91,238
6 years$111,273$104,880$98,859$93,187$87,848$69,056
7 years$94,417$88,078$82,152$76,614$71,444$53,641
8 years$81,781$75,500$69,671$64,270$59,270$42,442
9 years$71,958$65,736$60,008$54,744$49,914$34,042
10 years$64,104$57,943$52,316$47,190$42,529$27,588
11 years$57,683$51,583$46,058$41,069$36,576$22,537
12 years$52,335$46,298$40,876$36,023$31,696$18,528
13 years$47,814$41,840$36,520$31,803$27,640$15,309
14 years$43,942$38,032$32,813$28,231$24,229$12,701
15 years$40,589$34,743$29,626$25,177$21,333$10,572
16 years$37,658$31,876$26,860$22,544$18,854$8,823
17 years$35,075$29,356$24,442$20,255$16,717$7,381
18 years$32,781$27,126$22,312$18,254$14,864$6,185
19 years$30,731$25,141$20,426$16,494$13,249$5,192
20 years$28,889$23,362$18,746$14,939$11,834$4,363
21 years$27,224$21,761$17,242$13,558$10,590$3,670
22 years$25,712$20,313$15,892$12,327$9,493$3,091
23 years$24,334$18,998$14,673$11,226$8,521$2,604
24 years$23,073$17,800$13,570$10,239$7,659$2,196
25 years$21,914$16,704$12,569$9,351$6,892$1,853
26 years$20,847$15,699$11,657$8,550$6,208$1,564
27 years$19,860$14,775$10,824$7,826$5,597$1,320
28 years$18,945$13,922$10,063$7,170$5,050$1,115
29 years$18,094$13,134$9,364$6,575$4,560$942
30 years$17,302$12,404$8,722$6,035$4,121$796
31 years$16,563$11,726$8,132$5,542$3,725$673
32 years$15,871$11,095$7,587$5,093$3,370$569
33 years$15,222$10,507$7,084$4,684$3,050$481
34 years$14,613$9,958$6,619$4,310$2,761$406
35 years$14,040$9,445$6,188$3,967$2,501$344
36 years$13,500$8,965$5,789$3,654$2,266$291
37 years$12,990$8,515$5,418$3,366$2,054$246
38 years$12,509$8,092$5,074$3,103$1,862$208
39 years$12,053$7,695$4,754$2,861$1,688$176
40 years$11,621$7,321$4,456$2,639$1,531$149
41 years$11,211$6,969$4,178$2,435$1,389$126
42 years$10,822$6,637$3,919$2,247$1,261$106
43 years$10,452$6,324$3,678$2,074$1,144$90
44 years$10,099$6,028$3,452$1,915$1,039$76
45 years$9,763$5,748$3,241$1,769$943$64
46 years$9,443$5,483$3,044$1,634$856$54
47 years$9,138$5,233$2,860$1,509$777$46
48 years$8,846$4,995$2,688$1,395$706$39
49 years$8,566$4,770$2,526$1,289$641$33
50 years$8,299$4,557$2,375$1,191$582$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,500,000, adding $2,762 every year, while hoping to spend $47,550 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: 61/10/29 Blend
63$8,500,000$8,500,000$8,500,000$8,500,000
64$9,369,849$8,919,349$8,787,599$9,867,796
65$10,274,981$9,305,804$9,031,391$10,593,957
66$11,270,842$9,709,602$9,281,756$11,380,914
67$12,366,638$10,131,542$9,538,864$12,238,977
68$13,572,509$10,572,462$9,802,890$13,175,103
69$14,899,630$11,033,237$10,074,012$14,196,949
70$16,360,313$11,514,787$10,352,412$15,312,943
71$17,968,124$12,018,071$10,638,278$16,532,362
72$19,738,013$12,544,097$10,931,800$17,865,417
73$21,686,450$13,093,917$11,233,175$19,323,351
74$23,831,586$13,668,637$11,542,604$20,918,539
75$26,193,418$14,269,411$11,860,292$22,664,609
76$28,793,985$14,897,450$12,186,450$24,576,564
77$31,657,567$15,554,021$12,521,292$26,670,925
78$34,810,923$16,240,451$12,865,039$28,965,885
79$38,283,536$16,958,132$13,217,916$31,481,475
80$42,107,895$17,708,519$13,580,155$34,239,759
81$46,319,801$18,493,137$13,951,991$37,265,032
82$50,958,704$19,313,584$14,333,666$40,584,055
83$56,068,075$20,171,533$14,725,427$44,226,300
84$61,695,816$21,068,736$15,127,527$48,224,226
85$67,894,714$22,007,029$15,540,224$52,613,589
86$74,722,937$22,988,336$15,963,783$57,433,770
87$82,244,582$24,014,669$16,398,475$62,728,151
88$90,530,281$25,088,140$16,844,576$68,544,517
89$99,657,870$26,210,959$17,302,369$74,935,505
90$109,713,117$27,385,441$17,772,143$81,959,103
91$120,790,540$28,614,012$18,254,195$89,679,189
92$132,994,290$29,899,214$18,748,825$98,166,134
93$146,439,141$31,243,708$19,256,344$107,497,463
94$161,251,569$32,650,285$19,777,067$117,758,584
95$177,570,947$34,121,867$20,311,317$129,043,589
96$195,550,860$35,661,516$20,859,423$141,456,141
97$215,360,557$37,272,439$21,421,723$155,110,451
98$237,186,543$38,957,998$21,998,560$170,132,348
99$261,234,345$40,721,714$22,590,286$186,660,465
100$287,730,448$42,567,278$23,197,260$204,847,546