Can I retire at age 64 with 8,800,000?

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 $8,800,000?

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$726,696$720,223$713,907$707,743$701,724$690,668
2 years$359,750$353,050$346,557$340,261$334,154$323,044
3 years$237,451$230,722$224,245$218,009$212,001$201,182
4 years$176,314$169,605$163,193$157,063$151,201$140,757
5 years$139,641$132,973$126,645$120,639$114,941$104,902
6 years$115,200$108,582$102,348$96,476$90,949$81,327
7 years$97,749$91,187$85,051$79,318$73,966$64,763
8 years$84,667$78,164$72,130$66,538$61,362$52,577
9 years$74,498$68,056$62,126$56,676$51,675$43,305
10 years$66,367$59,988$54,163$48,855$44,030$36,066
11 years$59,718$53,404$47,684$42,519$37,867$30,302
12 years$54,182$47,932$42,318$37,295$32,815$25,639
13 years$49,501$43,317$37,809$32,925$28,615$21,818
14 years$45,493$39,374$33,971$29,228$25,084$18,655
15 years$42,022$35,969$30,671$26,066$22,086$16,012
16 years$38,987$33,001$27,808$23,339$19,520$13,790
17 years$36,313$30,392$25,304$20,970$17,307$11,909
18 years$33,938$28,084$23,100$18,898$15,389$10,308
19 years$31,816$26,028$21,147$17,076$13,717$8,941
20 years$29,908$24,186$19,407$15,466$12,252$7,768
21 years$28,185$22,529$17,851$14,036$10,964$6,760
22 years$26,620$21,030$16,452$12,762$9,828$5,889
23 years$25,193$19,669$15,191$11,623$8,822$5,137
24 years$23,887$18,428$14,049$10,601$7,929$4,484
25 years$22,688$17,294$13,012$9,681$7,135$3,918
26 years$21,582$16,254$12,068$8,852$6,427$3,426
27 years$20,560$15,296$11,206$8,102$5,795$2,997
28 years$19,613$14,414$10,418$7,423$5,229$2,624
29 years$18,733$13,598$9,695$6,807$4,721$2,298
30 years$17,913$12,842$9,030$6,248$4,266$2,014
31 years$17,147$12,140$8,419$5,738$3,857$1,765
32 years$16,431$11,487$7,855$5,273$3,489$1,547
33 years$15,760$10,878$7,334$4,849$3,157$1,357
34 years$15,129$10,310$6,852$4,462$2,859$1,190
35 years$14,536$9,779$6,407$4,107$2,589$1,044
36 years$13,976$9,281$5,993$3,783$2,346$917
37 years$13,449$8,815$5,609$3,485$2,126$805
38 years$12,950$8,378$5,253$3,212$1,928$706
39 years$12,478$7,966$4,922$2,962$1,748$620
40 years$12,031$7,579$4,613$2,732$1,585$544
41 years$11,607$7,215$4,325$2,521$1,438$478
42 years$11,204$6,871$4,057$2,326$1,305$420
43 years$10,820$6,547$3,807$2,147$1,185$369
44 years$10,456$6,240$3,574$1,983$1,075$324
45 years$10,108$5,951$3,356$1,831$976$284
46 years$9,777$5,677$3,152$1,691$886$250
47 years$9,460$5,417$2,961$1,563$805$220
48 years$9,158$5,172$2,783$1,444$731$193
49 years$8,869$4,939$2,615$1,335$664$169
50 years$8,592$4,718$2,459$1,233$603$149

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,800,000, adding $6,800 every year, while hoping to spend $45,749 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: 54/18/28 Blend
63$8,800,000$8,800,000$8,800,000$8,800,000
64$9,704,614$9,238,214$9,101,814$10,152,750
65$10,645,808$9,642,210$9,358,048$10,867,349
66$11,681,471$10,064,469$9,621,333$11,639,683
67$12,821,189$10,505,836$9,891,856$12,479,646
68$14,075,528$10,967,199$10,169,811$13,393,746
69$15,456,126$11,449,486$10,455,393$14,389,143
70$16,975,809$11,953,669$10,748,808$15,473,712
71$18,648,709$12,480,767$11,050,260$16,656,113
72$20,490,399$13,031,845$11,359,965$17,945,878
73$22,518,035$13,608,022$11,678,140$19,353,491
74$24,750,526$14,210,466$12,005,008$20,890,488
75$27,208,703$14,840,402$12,340,800$22,569,565
76$29,915,524$15,499,115$12,685,750$24,404,692
77$32,896,284$16,187,948$13,040,099$26,411,248
78$36,178,856$16,908,309$13,404,093$28,606,155
79$39,793,956$17,661,673$13,777,987$31,008,045
80$43,775,430$18,449,585$14,162,040$33,637,424
81$48,160,572$19,273,663$14,556,516$36,516,870
82$52,990,480$20,135,602$14,961,690$39,671,236
83$58,310,441$21,037,178$15,377,838$43,127,890
84$64,170,358$21,980,252$15,805,248$46,916,961
85$70,625,223$22,966,773$16,244,212$51,071,627
86$77,735,633$23,998,782$16,695,031$55,628,420
87$85,568,364$25,078,419$17,158,010$60,627,571
88$94,196,999$26,207,924$17,633,466$66,113,383
89$103,702,627$27,389,646$18,121,721$72,134,644
90$114,174,601$28,626,044$18,623,105$78,745,090
91$125,711,386$29,919,697$19,137,955$86,003,900
92$138,421,490$31,273,304$19,666,619$93,976,253
93$152,424,482$32,689,696$20,209,450$102,733,940
94$167,852,125$34,171,837$20,766,813$112,356,037
95$184,849,618$35,722,834$21,339,078$122,929,643
96$203,576,968$37,345,942$21,926,626$134,550,699
97$224,210,498$39,044,571$22,529,846$147,324,889
98$246,944,511$40,822,297$23,149,138$161,368,629
99$271,993,126$42,682,865$23,784,909$176,810,164
100$299,592,298$44,630,199$24,437,578$193,790,767