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

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$726,696$720,223$713,907$707,743$701,724$677,906
2 years$359,750$353,050$346,557$340,261$334,154$310,396
3 years$237,451$230,722$224,245$218,009$212,001$189,050
4 years$176,314$169,605$163,193$157,063$151,201$129,232
5 years$139,641$132,973$126,645$120,639$114,941$94,012
6 years$115,200$108,582$102,348$96,476$90,949$71,077
7 years$97,749$91,187$85,051$79,318$73,966$55,148
8 years$84,667$78,164$72,130$66,538$61,362$43,583
9 years$74,498$68,056$62,126$56,676$51,675$34,914
10 years$66,367$59,988$54,163$48,855$44,030$28,259
11 years$59,718$53,404$47,684$42,519$37,867$23,056
12 years$54,182$47,932$42,318$37,295$32,815$18,929
13 years$49,501$43,317$37,809$32,925$28,615$15,619
14 years$45,493$39,374$33,971$29,228$25,084$12,940
15 years$42,022$35,969$30,671$26,066$22,086$10,756
16 years$38,987$33,001$27,808$23,339$19,520$8,964
17 years$36,313$30,392$25,304$20,970$17,307$7,487
18 years$33,938$28,084$23,100$18,898$15,389$6,265
19 years$31,816$26,028$21,147$17,076$13,717$5,251
20 years$29,908$24,186$19,407$15,466$12,252$4,406
21 years$28,185$22,529$17,851$14,036$10,964$3,701
22 years$26,620$21,030$16,452$12,762$9,828$3,111
23 years$25,193$19,669$15,191$11,623$8,822$2,618
24 years$23,887$18,428$14,049$10,601$7,929$2,204
25 years$22,688$17,294$13,012$9,681$7,135$1,856
26 years$21,582$16,254$12,068$8,852$6,427$1,564
27 years$20,560$15,296$11,206$8,102$5,795$1,318
28 years$19,613$14,414$10,418$7,423$5,229$1,112
29 years$18,733$13,598$9,695$6,807$4,721$938
30 years$17,913$12,842$9,030$6,248$4,266$791
31 years$17,147$12,140$8,419$5,738$3,857$667
32 years$16,431$11,487$7,855$5,273$3,489$563
33 years$15,760$10,878$7,334$4,849$3,157$475
34 years$15,129$10,310$6,852$4,462$2,859$401
35 years$14,536$9,779$6,407$4,107$2,589$339
36 years$13,976$9,281$5,993$3,783$2,346$286
37 years$13,449$8,815$5,609$3,485$2,126$241
38 years$12,950$8,378$5,253$3,212$1,928$204
39 years$12,478$7,966$4,922$2,962$1,748$172
40 years$12,031$7,579$4,613$2,732$1,585$145
41 years$11,607$7,215$4,325$2,521$1,438$123
42 years$11,204$6,871$4,057$2,326$1,305$104
43 years$10,820$6,547$3,807$2,147$1,185$88
44 years$10,456$6,240$3,574$1,983$1,075$74
45 years$10,108$5,951$3,356$1,831$976$62
46 years$9,777$5,677$3,152$1,691$886$53
47 years$9,460$5,417$2,961$1,563$805$45
48 years$9,158$5,172$2,783$1,444$731$38
49 years$8,869$4,939$2,615$1,335$664$32
50 years$8,592$4,718$2,459$1,233$603$27

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 $6,020 every year, while hoping to spend $33,307 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: 52/36/12 Blend
63$8,800,000$8,800,000$8,800,000$8,800,000
64$9,703,810$9,237,410$9,101,010$10,177,330
65$10,658,160$9,654,604$9,370,455$10,918,288
66$11,708,737$10,091,125$9,647,811$11,719,640
67$12,865,322$10,547,884$9,933,306$12,590,393
68$14,138,691$11,025,837$10,227,178$13,537,113
69$15,540,719$11,525,984$10,529,669$14,567,012
70$17,084,489$12,049,374$10,841,030$15,688,017
71$18,784,421$12,597,107$11,161,519$16,908,836
72$20,656,401$13,170,334$11,491,398$18,239,041
73$22,717,936$13,770,262$11,830,942$19,689,154
74$24,988,317$14,398,157$12,180,430$21,270,741
75$27,488,800$15,055,342$12,540,150$22,996,521
76$30,242,812$15,743,207$12,910,399$24,880,477
77$33,276,162$16,463,207$13,291,480$26,937,987
78$36,617,294$17,216,868$13,683,708$29,185,967
79$40,297,551$18,005,788$14,087,406$31,643,021
80$44,351,470$18,831,641$14,502,903$34,329,613
81$48,817,112$19,696,184$14,930,543$37,268,259
82$53,736,417$20,601,255$15,370,675$40,483,730
83$59,155,598$21,548,784$15,823,659$44,003,283
84$65,125,586$22,540,791$16,289,868$47,856,911
85$71,702,500$23,579,394$16,769,683$52,077,621
86$78,948,183$24,666,812$17,263,496$56,701,738
87$86,930,785$25,805,373$17,771,710$61,769,243
88$95,725,403$26,997,515$18,294,741$67,324,143
89$105,414,795$28,245,794$18,833,016$73,414,879
90$116,090,155$29,552,889$19,386,972$80,094,776
91$127,851,977$30,921,607$19,957,063$87,422,537
92$140,811,006$32,354,892$20,543,751$95,462,792
93$155,089,276$33,855,829$21,147,514$104,286,697
94$170,821,269$35,427,652$21,768,843$113,972,598
95$188,155,182$37,073,750$22,408,242$124,606,759
96$207,254,323$38,797,677$23,066,231$136,284,170
97$228,298,657$40,603,156$23,743,343$149,109,430
98$251,486,502$42,494,092$24,440,126$163,197,725
99$277,036,400$44,474,578$25,157,145$178,675,906
100$305,189,183$46,548,903$25,894,980$195,683,671