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%14.3%
1 years$734,954$728,407$722,020$715,786$709,698$697,081
2 years$363,838$357,062$350,495$344,128$337,952$325,283
3 years$240,150$233,344$226,794$220,486$214,410$202,085
4 years$178,317$171,533$165,048$158,848$152,919$141,032
5 years$141,228$134,484$128,084$122,010$116,247$104,832
6 years$116,509$109,816$103,511$97,573$91,982$81,052
7 years$98,860$92,223$86,018$80,220$74,806$64,364
8 years$85,629$79,052$72,950$67,294$62,059$52,103
9 years$75,344$68,829$62,832$57,320$52,263$42,786
10 years$67,121$60,670$54,778$49,410$44,530$35,526
11 years$60,397$54,011$48,226$43,002$38,298$29,754
12 years$54,798$48,477$42,799$37,718$33,188$25,095
13 years$50,064$43,809$38,238$33,300$28,940$21,285
14 years$46,010$39,821$34,357$29,560$25,369$18,137
15 years$42,499$36,377$31,020$26,362$22,337$15,515
16 years$39,430$33,376$28,124$23,604$19,741$13,315
17 years$36,726$30,738$25,592$21,208$17,504$11,457
18 years$34,324$28,403$23,362$19,113$15,564$9,882
19 years$32,178$26,324$21,387$17,270$13,872$8,540
20 years$30,248$24,461$19,628$15,642$12,391$7,392
21 years$28,505$22,785$18,054$14,196$11,089$6,408
22 years$26,922$21,269$16,639$12,907$9,939$5,561
23 years$25,479$19,892$15,363$11,755$8,922$4,832
24 years$24,159$18,638$14,209$10,721$8,019$4,202
25 years$22,946$17,490$13,160$9,791$7,216$3,657
26 years$21,828$16,438$12,205$8,952$6,500$3,185
27 years$20,794$15,470$11,334$8,194$5,860$2,775
28 years$19,836$14,578$10,536$7,508$5,288$2,420
29 years$18,946$13,752$9,805$6,885$4,775$2,110
30 years$18,117$12,988$9,133$6,319$4,314$1,842
31 years$17,342$12,278$8,514$5,803$3,901$1,607
32 years$16,618$11,617$7,944$5,333$3,528$1,403
33 years$15,939$11,002$7,417$4,904$3,193$1,226
34 years$15,301$10,427$6,930$4,512$2,891$1,071
35 years$14,701$9,890$6,479$4,154$2,619$936
36 years$14,135$9,387$6,061$3,826$2,373$818
37 years$13,602$8,915$5,673$3,525$2,150$715
38 years$13,097$8,473$5,313$3,249$1,949$625
39 years$12,620$8,057$4,977$2,996$1,768$546
40 years$12,168$7,665$4,665$2,763$1,604$477
41 years$11,739$7,297$4,375$2,549$1,455$417
42 years$11,331$6,949$4,104$2,353$1,320$365
43 years$10,943$6,621$3,851$2,172$1,198$319
44 years$10,574$6,311$3,614$2,005$1,087$279
45 years$10,223$6,018$3,394$1,852$987$244
46 years$9,888$5,741$3,188$1,711$896$214
47 years$9,568$5,479$2,995$1,580$814$187
48 years$9,262$5,230$2,814$1,460$739$163
49 years$8,969$4,995$2,645$1,350$671$143
50 years$8,690$4,771$2,487$1,248$610$125

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 $2,663 every year, while hoping to spend $57,790 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: 62/15/23 Blend
63$8,900,000$8,900,000$8,900,000$8,900,000
64$9,810,547$9,338,847$9,200,897$10,359,310
65$10,749,735$9,734,962$9,447,639$11,127,010
66$11,782,782$10,148,550$9,700,710$11,958,216
67$12,919,203$10,580,407$9,960,261$12,864,470
68$14,169,478$11,031,363$10,226,446$13,853,100
69$15,545,156$11,502,290$10,499,422$14,932,173
70$17,058,960$11,994,100$10,779,351$16,110,563
71$18,724,910$12,507,747$11,066,395$17,398,038
72$20,558,453$13,044,230$11,360,722$18,805,349
73$22,576,612$13,604,594$11,662,503$20,344,333
74$24,798,141$14,189,933$11,971,911$22,028,015
75$27,243,705$14,801,394$12,289,124$23,870,739
76$29,936,076$15,440,175$12,614,322$25,888,295
77$32,900,344$16,107,531$12,947,690$28,098,067
78$36,164,157$16,804,779$13,289,416$30,519,196
79$39,757,980$17,533,292$13,639,691$33,172,761
80$43,715,384$18,294,513$13,998,710$36,081,970
81$48,073,358$19,089,949$14,366,672$39,272,382
82$52,872,665$19,921,181$14,743,780$42,772,144
83$58,158,219$20,789,861$15,130,238$46,612,253
84$63,979,515$21,697,721$15,526,259$50,826,848
85$70,391,091$22,646,576$15,932,054$55,453,528
86$77,453,047$23,638,322$16,347,843$60,533,707
87$85,231,607$24,674,949$16,773,845$66,112,998
88$93,799,748$25,758,539$17,210,286$72,241,642
89$103,237,887$26,891,272$17,657,395$78,974,981
90$113,634,639$28,075,432$18,115,406$86,373,976
91$125,087,654$29,313,410$18,584,553$94,505,778
92$137,704,538$30,607,711$19,065,080$103,444,359
93$151,603,870$31,960,958$19,557,229$113,271,209
94$166,916,318$33,375,898$20,061,249$124,076,096
95$183,785,875$34,855,409$20,577,393$135,957,916
96$202,371,215$36,402,505$21,105,917$149,025,616
97$222,847,194$38,020,343$21,647,080$163,399,225
98$245,406,498$39,712,230$22,201,147$179,210,976
99$270,261,460$41,481,629$22,768,386$196,606,553
100$297,646,069$43,332,169$23,349,067$215,746,461