Can I retire at age 64 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$734,954$728,407$722,020$715,786$709,698$695,085
2 years$363,838$357,062$350,495$344,128$337,952$323,295
3 years$240,150$233,344$226,794$220,486$214,410$200,168
4 years$178,317$171,533$165,048$158,848$152,919$139,201
5 years$141,228$134,484$128,084$122,010$116,247$103,092
6 years$116,509$109,816$103,511$97,573$91,982$79,404
7 years$98,860$92,223$86,018$80,220$74,806$62,808
8 years$85,629$79,052$72,950$67,294$62,059$50,637
9 years$75,344$68,829$62,832$57,320$52,263$41,409
10 years$67,121$60,670$54,778$49,410$44,530$34,234
11 years$60,397$54,011$48,226$43,002$38,298$28,546
12 years$54,798$48,477$42,799$37,718$33,188$23,967
13 years$50,064$43,809$38,238$33,300$28,940$20,234
14 years$46,010$39,821$34,357$29,560$25,369$17,161
15 years$42,499$36,377$31,020$26,362$22,337$14,609
16 years$39,430$33,376$28,124$23,604$19,741$12,475
17 years$36,726$30,738$25,592$21,208$17,504$10,681
18 years$34,324$28,403$23,362$19,113$15,564$9,166
19 years$32,178$26,324$21,387$17,270$13,872$7,880
20 years$30,248$24,461$19,628$15,642$12,391$6,785
21 years$28,505$22,785$18,054$14,196$11,089$5,850
22 years$26,922$21,269$16,639$12,907$9,939$5,050
23 years$25,479$19,892$15,363$11,755$8,922$4,364
24 years$24,159$18,638$14,209$10,721$8,019$3,774
25 years$22,946$17,490$13,160$9,791$7,216$3,266
26 years$21,828$16,438$12,205$8,952$6,500$2,829
27 years$20,794$15,470$11,334$8,194$5,860$2,451
28 years$19,836$14,578$10,536$7,508$5,288$2,125
29 years$18,946$13,752$9,805$6,885$4,775$1,843
30 years$18,117$12,988$9,133$6,319$4,314$1,599
31 years$17,342$12,278$8,514$5,803$3,901$1,388
32 years$16,618$11,617$7,944$5,333$3,528$1,204
33 years$15,939$11,002$7,417$4,904$3,193$1,046
34 years$15,301$10,427$6,930$4,512$2,891$908
35 years$14,701$9,890$6,479$4,154$2,619$789
36 years$14,135$9,387$6,061$3,826$2,373$685
37 years$13,602$8,915$5,673$3,525$2,150$595
38 years$13,097$8,473$5,313$3,249$1,949$517
39 years$12,620$8,057$4,977$2,996$1,768$450
40 years$12,168$7,665$4,665$2,763$1,604$391
41 years$11,739$7,297$4,375$2,549$1,455$340
42 years$11,331$6,949$4,104$2,353$1,320$295
43 years$10,943$6,621$3,851$2,172$1,198$257
44 years$10,574$6,311$3,614$2,005$1,087$223
45 years$10,223$6,018$3,394$1,852$987$194
46 years$9,888$5,741$3,188$1,711$896$169
47 years$9,568$5,479$2,995$1,580$814$147
48 years$9,262$5,230$2,814$1,460$739$127
49 years$8,969$4,995$2,645$1,350$671$111
50 years$8,690$4,771$2,487$1,248$610$96

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,900,000, adding $5,740 every year, while hoping to spend $25,262 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: 30/40/30 Blend
63$8,900,000$8,900,000$8,900,000$8,900,000
64$9,813,721$9,342,021$9,204,071$10,017,693
65$10,787,842$9,772,901$9,485,529$10,609,777
66$11,860,476$10,224,048$9,775,569$11,243,670
67$13,041,646$10,696,428$10,074,452$11,925,096
68$14,342,395$11,191,053$10,382,446$12,658,217
69$15,774,890$11,708,986$10,699,829$13,447,585
70$17,352,542$12,251,340$11,026,887$14,298,190
71$19,090,125$12,819,279$11,363,911$15,215,496
72$21,003,923$13,414,028$11,711,207$16,205,495
73$23,111,875$14,036,868$12,069,084$17,274,751
74$25,433,753$14,689,142$12,437,866$18,430,464
75$27,991,344$15,372,258$12,817,882$19,680,530
76$30,808,655$16,087,692$13,209,475$21,033,612
77$33,912,140$16,836,991$13,612,995$22,499,214
78$37,330,952$17,621,778$14,028,804$24,087,765
79$41,097,216$18,443,752$14,457,276$25,810,716
80$45,246,332$19,304,695$14,898,795$27,680,638
81$49,817,310$20,206,477$15,353,756$29,711,332
82$54,853,137$21,151,056$15,822,568$31,917,961
83$60,401,183$22,140,484$16,305,650$34,317,175
84$66,513,651$23,176,914$16,803,437$36,927,271
85$73,248,064$24,262,604$17,316,372$39,768,351
86$80,667,813$25,399,918$17,844,917$42,862,507
87$88,842,752$26,591,336$18,389,544$46,234,020
88$97,849,860$27,839,459$18,950,741$49,909,583
89$107,773,965$29,147,012$19,529,010$53,918,537
90$118,708,546$30,516,852$20,124,869$58,293,149
91$130,756,617$31,951,977$20,738,851$63,068,895
92$144,031,694$33,455,526$21,371,505$68,284,793
93$158,658,873$35,030,793$22,023,397$73,983,757
94$174,776,006$36,681,230$22,695,109$80,212,991
95$192,535,006$38,410,458$23,387,242$87,024,422
96$212,103,277$40,222,271$24,100,415$94,475,178
97$233,665,298$42,120,648$24,835,265$102,628,114
98$257,424,360$44,109,762$25,592,449$111,552,395
99$283,604,490$46,193,986$26,372,641$121,324,127
100$312,452,564$48,377,906$27,176,540$132,027,068