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%18.8%
1 years$734,954$728,407$722,020$715,786$709,698$684,518
2 years$363,838$357,062$350,495$344,128$337,952$312,851
3 years$240,150$233,344$226,794$220,486$214,410$190,178
4 years$178,317$171,533$165,048$158,848$152,919$129,741
5 years$141,228$134,484$128,084$122,010$116,247$94,184
6 years$116,509$109,816$103,511$97,573$91,982$71,050
7 years$98,860$92,223$86,018$80,220$74,806$55,001
8 years$85,629$79,052$72,950$67,294$62,059$43,364
9 years$75,344$68,829$62,832$57,320$52,263$34,654
10 years$67,121$60,670$54,778$49,410$44,530$27,978
11 years$60,397$54,011$48,226$43,002$38,298$22,767
12 years$54,798$48,477$42,799$37,718$33,188$18,642
13 years$50,064$43,809$38,238$33,300$28,940$15,340
14 years$46,010$39,821$34,357$29,560$25,369$12,674
15 years$42,499$36,377$31,020$26,362$22,337$10,504
16 years$39,430$33,376$28,124$23,604$19,741$8,729
17 years$36,726$30,738$25,592$21,208$17,504$7,270
18 years$34,324$28,403$23,362$19,113$15,564$6,065
19 years$32,178$26,324$21,387$17,270$13,872$5,068
20 years$30,248$24,461$19,628$15,642$12,391$4,239
21 years$28,505$22,785$18,054$14,196$11,089$3,550
22 years$26,922$21,269$16,639$12,907$9,939$2,975
23 years$25,479$19,892$15,363$11,755$8,922$2,495
24 years$24,159$18,638$14,209$10,721$8,019$2,094
25 years$22,946$17,490$13,160$9,791$7,216$1,758
26 years$21,828$16,438$12,205$8,952$6,500$1,477
27 years$20,794$15,470$11,334$8,194$5,860$1,241
28 years$19,836$14,578$10,536$7,508$5,288$1,043
29 years$18,946$13,752$9,805$6,885$4,775$877
30 years$18,117$12,988$9,133$6,319$4,314$737
31 years$17,342$12,278$8,514$5,803$3,901$620
32 years$16,618$11,617$7,944$5,333$3,528$521
33 years$15,939$11,002$7,417$4,904$3,193$439
34 years$15,301$10,427$6,930$4,512$2,891$369
35 years$14,701$9,890$6,479$4,154$2,619$310
36 years$14,135$9,387$6,061$3,826$2,373$261
37 years$13,602$8,915$5,673$3,525$2,150$220
38 years$13,097$8,473$5,313$3,249$1,949$185
39 years$12,620$8,057$4,977$2,996$1,768$156
40 years$12,168$7,665$4,665$2,763$1,604$131
41 years$11,739$7,297$4,375$2,549$1,455$110
42 years$11,331$6,949$4,104$2,353$1,320$93
43 years$10,943$6,621$3,851$2,172$1,198$78
44 years$10,574$6,311$3,614$2,005$1,087$66
45 years$10,223$6,018$3,394$1,852$987$55
46 years$9,888$5,741$3,188$1,711$896$47
47 years$9,568$5,479$2,995$1,580$814$39
48 years$9,262$5,230$2,814$1,460$739$33
49 years$8,969$4,995$2,645$1,350$671$28
50 years$8,690$4,771$2,487$1,248$610$23

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 $4,637 every year, while hoping to spend $24,588 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: 50/43/7 Blend
63$8,900,000$8,900,000$8,900,000$8,900,000
64$9,812,583$9,340,883$9,202,933$10,285,556
65$10,787,305$9,772,425$9,485,070$11,039,997
66$11,860,625$10,224,288$9,775,834$11,856,315
67$13,042,573$10,697,443$10,075,489$12,742,736
68$14,344,203$11,192,905$10,384,306$13,705,829
69$15,777,695$11,711,741$10,702,563$14,752,805
70$17,356,470$12,255,066$11,030,549$15,891,586
71$19,095,318$12,824,052$11,368,560$17,130,869
72$21,010,535$13,419,926$11,716,902$18,480,209
73$23,120,081$14,043,974$12,075,890$19,950,105
74$25,443,745$14,697,544$12,445,848$21,552,093
75$28,003,333$15,382,049$12,827,109$23,298,849
76$30,822,875$16,098,972$13,220,020$25,204,308
77$33,928,851$16,849,864$13,624,933$27,283,786
78$37,350,441$17,636,355$14,042,216$29,554,121
79$41,119,800$18,460,150$14,472,244$32,033,830
80$45,272,361$19,323,040$14,915,406$34,743,270
81$49,847,172$20,226,898$15,372,102$37,704,831
82$54,887,259$21,173,692$15,842,743$40,943,139
83$60,440,040$22,165,483$16,327,755$44,485,280
84$66,557,763$23,204,431$16,827,574$48,361,051
85$73,298,009$24,292,802$17,342,652$52,603,232
86$80,724,228$25,432,972$17,873,453$57,247,889
87$88,906,340$26,627,428$18,420,454$62,334,707
88$97,921,398$27,878,783$18,984,150$67,907,354
89$107,854,310$29,189,772$19,565,048$74,013,887
90$118,798,643$30,563,265$20,163,672$80,707,193
91$130,857,510$32,002,270$20,780,560$88,045,482
92$144,144,535$33,509,941$21,416,267$96,092,825
93$158,784,933$35,089,583$22,071,368$104,919,748
94$174,916,687$36,744,664$22,746,450$114,603,888
95$192,691,855$38,478,818$23,442,122$125,230,709
96$212,278,000$40,295,856$24,159,009$136,894,305
97$233,859,777$42,199,774$24,897,756$149,698,269
98$257,640,672$44,194,760$25,659,029$163,756,661
99$283,844,924$46,285,208$26,443,510$179,195,066
100$312,719,645$48,475,722$27,251,907$196,151,772