Can I retire at age 66 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$685,406$679,301$673,344$667,531$661,854$637,863
2 years$339,310$332,991$326,866$320,928$315,168$291,262
3 years$223,960$217,613$211,504$205,622$199,956$176,884
4 years$166,296$159,969$153,921$148,139$142,610$120,550
5 years$131,707$125,417$119,449$113,785$108,410$87,419
6 years$108,655$102,413$96,532$90,995$85,781$65,875
7 years$92,195$86,006$80,219$74,812$69,763$50,937
8 years$79,857$73,723$68,032$62,758$57,875$40,112
9 years$70,265$64,189$58,596$53,456$48,739$32,016
10 years$62,596$56,580$51,085$46,079$41,528$25,815
11 years$56,325$50,370$44,975$40,103$35,716$20,980
12 years$51,104$45,209$39,914$35,176$30,950$17,156
13 years$46,689$40,856$35,660$31,055$26,989$14,098
14 years$42,908$37,137$32,041$27,567$23,659$11,631
15 years$39,634$33,925$28,929$24,585$20,831$9,627
16 years$36,772$31,126$26,228$22,013$18,411$7,988
17 years$34,250$28,665$23,867$19,779$16,324$6,643
18 years$32,010$26,488$21,787$17,824$14,515$5,534
19 years$30,008$24,549$19,945$16,106$12,937$4,617
20 years$28,209$22,812$18,305$14,587$11,556$3,856
21 years$26,583$21,249$16,837$13,239$10,341$3,224
22 years$25,107$19,835$15,518$12,037$9,269$2,698
23 years$23,762$18,551$14,328$10,962$8,321$2,259
24 years$22,530$17,381$13,251$9,998$7,479$1,893
25 years$21,399$16,311$12,273$9,131$6,730$1,587
26 years$20,356$15,330$11,382$8,349$6,062$1,330
27 years$19,392$14,427$10,570$7,642$5,465$1,116
28 years$18,499$13,595$9,826$7,002$4,931$937
29 years$17,669$12,825$9,144$6,421$4,453$786
30 years$16,895$12,112$8,517$5,893$4,024$660
31 years$16,173$11,450$7,940$5,412$3,638$554
32 years$15,497$10,834$7,408$4,974$3,291$465
33 years$14,864$10,260$6,917$4,574$2,978$391
34 years$14,269$9,724$6,463$4,208$2,696$328
35 years$13,710$9,223$6,042$3,874$2,442$276
36 years$13,182$8,754$5,653$3,568$2,213$232
37 years$12,685$8,314$5,291$3,287$2,005$195
38 years$12,214$7,902$4,955$3,030$1,818$163
39 years$11,769$7,514$4,642$2,794$1,649$137
40 years$11,347$7,149$4,351$2,577$1,495$115
41 years$10,947$6,805$4,080$2,377$1,357$97
42 years$10,567$6,481$3,827$2,194$1,231$81
43 years$10,206$6,175$3,591$2,025$1,117$68
44 years$9,862$5,886$3,371$1,870$1,014$57
45 years$9,534$5,613$3,165$1,727$921$48
46 years$9,221$5,354$2,973$1,595$836$41
47 years$8,923$5,110$2,793$1,474$759$34
48 years$8,637$4,878$2,624$1,362$689$29
49 years$8,365$4,658$2,467$1,259$626$24
50 years$8,104$4,450$2,319$1,163$569$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,300,000, adding $5,719 every year, while hoping to spend $52,333 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: 61/22/17 Blend
65$8,300,000$8,300,000$8,300,000$8,300,000
66$9,152,499$8,712,599$8,583,949$9,670,879
67$10,030,372$9,083,835$8,815,830$10,392,263
68$10,996,034$9,471,507$9,053,724$11,172,802
69$12,058,385$9,876,365$9,297,779$12,023,390
70$13,227,228$10,299,196$9,548,143$12,950,826
71$14,513,369$10,740,820$9,804,969$13,962,588
72$15,928,711$11,202,098$10,068,414$15,066,905
73$17,486,370$11,683,931$10,338,635$16,272,830
74$19,200,796$12,187,261$10,615,797$17,590,322
75$21,087,915$12,713,074$10,900,064$19,030,344
76$23,165,273$13,262,405$11,191,606$20,604,959
77$25,452,202$13,836,334$11,490,596$22,327,444
78$27,970,006$14,435,994$11,797,210$24,212,410
79$30,742,159$15,062,570$12,111,629$26,275,944
80$33,794,526$15,717,303$12,434,036$28,535,752
81$37,155,611$16,401,494$12,764,619$31,011,326
82$40,856,818$17,116,502$13,103,569$33,724,125
83$44,932,755$17,863,752$13,451,080$36,697,778
84$49,421,557$18,644,737$13,807,353$39,958,299
85$54,365,246$19,461,019$14,172,588$43,534,330
86$59,810,125$20,314,233$14,546,994$47,457,414
87$65,807,220$21,206,093$14,930,781$51,762,283
88$72,412,757$22,138,392$15,324,163$56,487,185
89$79,688,695$23,113,010$15,727,359$61,674,242
90$87,703,308$24,131,914$16,140,592$67,369,845
91$96,531,833$25,197,164$16,564,089$73,625,082
92$106,257,174$26,310,920$16,998,080$80,496,224
93$116,970,693$27,475,442$17,442,802$88,045,249
94$128,773,061$28,693,096$17,898,494$96,340,419
95$141,775,219$29,966,364$18,365,399$105,456,926
96$156,099,417$31,297,841$18,843,766$115,477,593
97$171,880,372$32,690,249$19,333,846$126,493,650
98$189,266,536$34,146,439$19,835,897$138,605,595
99$208,421,502$35,669,393$20,350,179$151,924,131
100$229,525,543$37,262,241$20,876,957$166,571,212