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

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$660,633$654,748$649,007$643,403$637,931$630,744
2 years$327,046$320,955$315,052$309,328$303,777$296,542
3 years$215,865$209,748$203,859$198,190$192,728$185,670
4 years$160,285$154,187$148,357$142,785$137,456$130,628
5 years$126,946$120,884$115,131$109,672$104,492$97,914
6 years$104,727$98,711$93,043$87,706$82,681$76,362
7 years$88,863$82,897$77,319$72,108$67,241$61,184
8 years$76,970$71,058$65,573$60,489$55,783$49,987
9 years$67,725$61,869$56,478$51,524$46,978$41,440
10 years$60,333$54,535$49,239$44,414$40,027$34,745
11 years$54,289$48,549$43,349$38,653$34,425$29,393
12 years$49,256$43,575$38,471$33,904$29,832$25,045
13 years$45,001$39,379$34,371$29,932$26,014$21,466
14 years$41,357$35,794$30,883$26,571$22,804$18,489
15 years$38,201$32,699$27,883$23,696$20,078$15,990
16 years$35,443$30,001$25,280$21,217$17,745$13,876
17 years$33,012$27,629$23,004$19,064$15,734$12,076
18 years$30,853$25,531$21,000$17,180$13,990$10,536
19 years$28,924$23,662$19,224$15,524$12,470$9,213
20 years$27,189$21,988$17,643$14,060$11,138$8,070
21 years$25,622$20,481$16,228$12,760$9,967$7,080
22 years$24,200$19,118$14,957$11,602$8,934$6,220
23 years$22,903$17,881$13,810$10,566$8,020$5,471
24 years$21,716$16,753$12,772$9,637$7,208$4,818
25 years$20,625$15,722$11,829$8,801$6,487$4,246
26 years$19,620$14,776$10,971$8,047$5,843$3,745
27 years$18,691$13,906$10,188$7,366$5,268$3,306
28 years$17,830$13,103$9,471$6,749$4,753$2,920
29 years$17,030$12,362$8,813$6,189$4,292$2,580
30 years$16,285$11,674$8,209$5,680$3,878$2,281
31 years$15,589$11,036$7,653$5,216$3,506$2,018
32 years$14,937$10,442$7,141$4,794$3,172$1,785
33 years$14,327$9,889$6,667$4,408$2,870$1,580
34 years$13,753$9,373$6,229$4,056$2,599$1,399
35 years$13,214$8,890$5,824$3,734$2,354$1,239
36 years$12,706$8,438$5,448$3,439$2,133$1,097
37 years$12,226$8,014$5,100$3,168$1,933$972
38 years$11,773$7,616$4,775$2,920$1,752$861
39 years$11,344$7,242$4,474$2,693$1,589$763
40 years$10,937$6,890$4,194$2,484$1,441$677
41 years$10,552$6,559$3,932$2,291$1,308$600
42 years$10,185$6,246$3,689$2,115$1,187$532
43 years$9,837$5,952$3,461$1,952$1,077$471
44 years$9,505$5,673$3,249$1,803$977$418
45 years$9,189$5,410$3,051$1,665$887$371
46 years$8,888$5,161$2,865$1,538$806$329
47 years$8,600$4,925$2,692$1,421$732$292
48 years$8,325$4,702$2,530$1,313$664$259
49 years$8,062$4,490$2,378$1,213$603$229
50 years$7,811$4,289$2,235$1,121$548$203

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 $6,143 every year, while hoping to spend $49,152 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: 60/12/28 Blend
65$8,000,000$8,000,000$8,000,000$8,000,000
66$8,822,337$8,398,337$8,274,337$9,284,455
67$9,669,917$8,757,558$8,499,229$9,959,656
68$10,602,304$9,132,733$8,730,009$10,690,287
69$11,628,095$9,524,593$8,966,820$11,486,525
70$12,756,764$9,933,902$9,209,812$12,354,776
71$13,998,750$10,361,458$9,459,136$13,302,085
72$15,365,552$10,808,100$9,714,947$14,336,208
73$16,869,845$11,274,703$9,977,405$15,465,679
74$18,525,592$11,762,186$10,246,670$16,699,895
75$20,348,178$12,271,509$10,522,909$18,049,197
76$22,354,556$12,803,677$10,806,291$19,524,970
77$24,563,407$13,359,743$11,096,988$21,139,748
78$26,995,315$13,940,811$11,395,177$22,907,332
79$29,672,960$14,548,034$11,701,038$24,842,916
80$32,621,335$15,182,620$12,014,756$26,963,229
81$35,867,978$15,845,836$12,336,518$29,286,695
82$39,443,236$16,539,006$12,666,515$31,833,601
83$43,380,548$17,263,518$13,004,945$34,626,289
84$47,716,759$18,020,826$13,352,006$37,689,361
85$52,492,472$18,812,451$13,707,902$41,049,915
86$57,752,430$19,639,986$14,072,842$44,737,796
87$63,545,933$20,505,101$14,447,038$48,785,873
88$69,927,311$21,409,544$14,830,706$53,230,351
89$76,956,430$22,355,144$15,224,068$58,111,109
90$84,699,259$23,343,820$15,627,348$63,472,072
91$93,228,495$24,377,579$16,040,775$69,361,628
92$102,624,246$25,458,524$16,464,585$75,833,074
93$112,974,786$26,588,859$16,899,016$82,945,127
94$124,377,391$27,770,890$17,344,310$90,762,465
95$136,939,256$29,007,035$17,800,716$99,356,342
96$150,778,506$30,299,825$18,268,485$108,805,253
97$166,025,309$31,651,912$18,747,875$119,195,676
98$182,823,110$33,066,075$19,239,148$130,622,881
99$201,329,977$34,545,223$19,742,570$143,191,826
100$221,720,101$36,092,405$20,258,412$157,018,150