Can I retire at age 65 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$693,664$687,485$681,457$675,573$669,828$666,445
2 years$343,398$337,003$330,804$324,795$318,966$315,552
3 years$226,658$220,235$214,052$208,099$202,365$199,025
4 years$168,299$161,896$155,775$149,924$144,328$141,089
5 years$133,293$126,928$120,888$115,156$109,716$106,586
6 years$109,964$103,647$97,695$92,091$86,815$83,799
7 years$93,306$87,042$81,185$75,713$70,604$67,703
8 years$80,819$74,611$68,852$63,514$58,572$55,788
9 years$71,111$64,963$59,302$54,100$49,326$46,656
10 years$63,350$57,261$51,701$46,634$42,029$39,472
11 years$57,004$50,976$45,517$40,586$36,146$33,702
12 years$51,719$45,754$40,395$35,599$31,323$28,989
13 years$47,251$41,348$36,090$31,429$27,315$25,088
14 years$43,425$37,584$32,427$27,899$23,944$21,822
15 years$40,111$34,334$29,277$24,881$21,082$19,063
16 years$37,215$31,501$26,544$22,278$18,632$16,713
17 years$34,662$29,011$24,154$20,017$16,521$14,698
18 years$32,396$26,807$22,050$18,039$14,689$12,961
19 years$30,370$24,845$20,185$16,300$13,093$11,455
20 years$28,549$23,087$18,525$14,763$11,695$10,144
21 years$26,904$21,505$17,040$13,398$10,466$9,000
22 years$25,410$20,074$15,705$12,182$9,381$7,996
23 years$24,048$18,775$14,500$11,094$8,421$7,114
24 years$22,802$17,591$13,410$10,119$7,569$6,337
25 years$21,656$16,508$12,421$9,241$6,811$5,650
26 years$20,601$15,515$11,520$8,449$6,135$5,043
27 years$19,626$14,601$10,697$7,734$5,531$4,504
28 years$18,722$13,759$9,944$7,086$4,991$4,026
29 years$17,882$12,980$9,254$6,498$4,507$3,601
30 years$17,099$12,258$8,620$5,964$4,072$3,223
31 years$16,368$11,588$8,036$5,477$3,682$2,885
32 years$15,684$10,964$7,498$5,034$3,330$2,585
33 years$15,043$10,383$7,001$4,629$3,014$2,316
34 years$14,441$9,841$6,541$4,259$2,729$2,077
35 years$13,875$9,334$6,115$3,921$2,471$1,862
36 years$13,341$8,860$5,721$3,611$2,239$1,670
37 years$12,837$8,415$5,354$3,327$2,030$1,499
38 years$12,361$7,997$5,014$3,066$1,840$1,345
39 years$11,911$7,604$4,698$2,827$1,669$1,207
40 years$11,484$7,235$4,403$2,608$1,513$1,084
41 years$11,079$6,887$4,129$2,406$1,373$973
42 years$10,694$6,559$3,873$2,221$1,246$874
43 years$10,329$6,249$3,634$2,050$1,131$785
44 years$9,980$5,957$3,411$1,893$1,026$705
45 years$9,649$5,680$3,203$1,748$932$634
46 years$9,332$5,419$3,009$1,615$846$569
47 years$9,030$5,171$2,826$1,492$768$512
48 years$8,741$4,937$2,656$1,378$698$460
49 years$8,465$4,714$2,497$1,274$634$413
50 years$8,201$4,503$2,347$1,177$575$371

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $8,400,000, adding $4,172 every year, while hoping to spend $34,892 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: 71/17/12 Blend
64$8,400,000$8,400,000$8,400,000$8,400,000
65$9,261,103$8,815,903$8,685,703$9,895,049
66$10,168,611$9,210,758$8,939,550$10,710,509
67$11,167,515$9,623,791$9,200,730$11,598,219
68$12,267,101$10,055,856$9,469,454$12,569,036
69$13,477,601$10,507,848$9,745,936$13,631,154
70$14,810,288$10,980,704$10,030,397$14,793,587
71$16,277,585$11,475,407$10,323,063$16,066,259
72$17,893,181$11,992,984$10,624,168$17,460,092
73$19,672,159$12,534,514$10,933,951$18,987,109
74$21,631,140$13,101,126$11,252,659$20,660,548
75$23,788,438$13,694,003$11,580,545$22,494,981
76$26,164,235$14,314,385$11,917,869$24,506,451
77$28,780,768$14,963,571$12,264,899$26,712,622
78$31,662,543$15,642,923$12,621,910$29,132,945
79$34,836,562$16,353,866$12,989,184$31,788,836
80$38,332,581$17,097,895$13,367,011$34,703,881
81$42,183,389$17,876,576$13,755,690$37,904,049
82$46,425,117$18,691,550$14,155,528$41,417,941
83$51,097,580$19,544,537$14,566,839$45,277,057
84$56,244,653$20,437,340$14,989,949$49,516,085
85$61,914,684$21,371,846$15,425,188$54,173,233
86$68,160,950$22,350,034$15,872,900$59,290,581
87$75,042,160$23,373,980$16,333,436$64,914,478
88$82,623,012$24,445,856$16,807,157$71,095,976
89$90,974,796$25,567,940$17,294,434$77,891,309
90$100,176,076$26,742,619$17,795,648$85,362,417
91$110,313,424$27,972,396$18,311,191$93,577,534
92$121,482,243$29,259,893$18,841,465$102,611,821
93$133,787,662$30,607,859$19,386,885$112,548,074
94$147,345,532$32,019,172$19,947,874$123,477,505
95$162,283,518$33,496,853$20,524,870$135,500,595
96$178,742,304$35,044,066$21,118,320$148,728,036
97$196,876,921$36,664,128$21,728,686$163,281,777
98$216,858,211$38,360,513$22,356,440$179,296,167
99$238,874,437$40,136,867$23,002,069$196,919,218
100$263,133,063$41,997,007$23,666,073$216,313,998