Can I retire at age 66 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$660,633$654,748$649,007$643,403$637,931$626,076
2 years$327,046$320,955$315,052$309,328$303,777$291,877
3 years$215,865$209,748$203,859$198,190$192,728$181,155
4 years$160,285$154,187$148,357$142,785$137,456$126,298
5 years$126,946$120,884$115,131$109,672$104,492$93,781
6 years$104,727$98,711$93,043$87,706$82,681$72,429
7 years$88,863$82,897$77,319$72,108$67,241$57,452
8 years$76,970$71,058$65,573$60,489$55,783$46,454
9 years$67,725$61,869$56,478$51,524$46,978$38,102
10 years$60,333$54,535$49,239$44,414$40,027$31,597
11 years$54,289$48,549$43,349$38,653$34,425$26,431
12 years$49,256$43,575$38,471$33,904$29,832$22,263
13 years$45,001$39,379$34,371$29,932$26,014$18,858
14 years$41,357$35,794$30,883$26,571$22,804$16,048
15 years$38,201$32,699$27,883$23,696$20,078$13,709
16 years$35,443$30,001$25,280$21,217$17,745$11,748
17 years$33,012$27,629$23,004$19,064$15,734$10,095
18 years$30,853$25,531$21,000$17,180$13,990$8,694
19 years$28,924$23,662$19,224$15,524$12,470$7,502
20 years$27,189$21,988$17,643$14,060$11,138$6,484
21 years$25,622$20,481$16,228$12,760$9,967$5,612
22 years$24,200$19,118$14,957$11,602$8,934$4,863
23 years$22,903$17,881$13,810$10,566$8,020$4,219
24 years$21,716$16,753$12,772$9,637$7,208$3,663
25 years$20,625$15,722$11,829$8,801$6,487$3,183
26 years$19,620$14,776$10,971$8,047$5,843$2,768
27 years$18,691$13,906$10,188$7,366$5,268$2,408
28 years$17,830$13,103$9,471$6,749$4,753$2,096
29 years$17,030$12,362$8,813$6,189$4,292$1,825
30 years$16,285$11,674$8,209$5,680$3,878$1,590
31 years$15,589$11,036$7,653$5,216$3,506$1,385
32 years$14,937$10,442$7,141$4,794$3,172$1,208
33 years$14,327$9,889$6,667$4,408$2,870$1,053
34 years$13,753$9,373$6,229$4,056$2,599$918
35 years$13,214$8,890$5,824$3,734$2,354$801
36 years$12,706$8,438$5,448$3,439$2,133$699
37 years$12,226$8,014$5,100$3,168$1,933$610
38 years$11,773$7,616$4,775$2,920$1,752$532
39 years$11,344$7,242$4,474$2,693$1,589$464
40 years$10,937$6,890$4,194$2,484$1,441$405
41 years$10,552$6,559$3,932$2,291$1,308$354
42 years$10,185$6,246$3,689$2,115$1,187$309
43 years$9,837$5,952$3,461$1,952$1,077$270
44 years$9,505$5,673$3,249$1,803$977$235
45 years$9,189$5,410$3,051$1,665$887$205
46 years$8,888$5,161$2,865$1,538$806$179
47 years$8,600$4,925$2,692$1,421$732$157
48 years$8,325$4,702$2,530$1,313$664$137
49 years$8,062$4,490$2,378$1,213$603$119
50 years$7,811$4,289$2,235$1,121$548$104

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,000,000, adding $6,945 every year, while hoping to spend $34,794 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: 53/21/26 Blend
65$8,000,000$8,000,000$8,000,000$8,000,000
66$8,823,164$8,399,164$8,275,164$9,226,605
67$9,686,106$8,773,702$8,515,361$9,880,893
68$10,635,902$9,165,427$8,762,439$10,588,402
69$11,681,374$9,575,143$9,016,591$11,357,658
70$12,832,244$10,003,695$9,278,017$12,194,579
71$14,099,223$10,451,966$9,546,920$13,105,671
72$15,494,113$10,920,882$9,823,512$14,098,087
73$17,029,921$11,411,413$10,108,007$15,179,696
74$18,720,976$11,924,575$10,400,628$16,359,151
75$20,583,070$12,461,434$10,701,604$17,645,971
76$22,633,603$13,023,104$11,011,167$19,050,628
77$24,891,748$13,610,754$11,329,560$20,584,642
78$27,378,635$14,225,609$11,657,028$22,260,689
79$30,117,543$14,868,952$11,993,826$24,092,719
80$33,134,128$15,542,126$12,340,215$26,096,081
81$36,456,660$16,246,541$12,696,463$28,287,669
82$40,116,290$16,983,672$13,062,845$30,686,077
83$44,147,345$17,755,065$13,439,643$33,311,770
84$48,587,652$18,562,341$13,827,149$36,187,278
85$53,478,895$19,407,198$14,225,661$39,337,399
86$58,867,006$20,291,415$14,635,485$42,789,436
87$64,802,603$21,216,857$15,056,936$46,573,448
88$71,341,462$22,185,476$15,490,337$50,722,529
89$78,545,048$23,199,322$15,936,020$55,273,119
90$86,481,093$24,260,538$16,394,327$60,265,341
91$95,224,235$25,371,375$16,865,607$65,743,377
92$104,856,722$26,534,187$17,350,220$71,755,884
93$115,469,191$27,751,446$17,848,535$78,356,439
94$127,161,519$29,025,738$18,360,933$85,604,052
95$140,043,771$30,359,776$18,887,801$93,563,707
96$154,237,234$31,756,403$19,429,540$102,306,977
97$169,875,564$33,218,598$19,986,562$111,912,694
98$187,106,046$34,749,484$20,559,286$122,467,681
99$206,090,987$36,352,334$21,148,147$134,067,573
100$227,009,246$38,030,577$21,753,588$146,817,710