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

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$685,406$679,301$673,344$667,531$661,854$644,025
2 years$339,310$332,991$326,866$320,928$315,168$297,334
3 years$223,960$217,613$211,504$205,622$199,956$182,673
4 years$166,296$159,969$153,921$148,139$142,610$126,013
5 years$131,707$125,417$119,449$113,785$108,410$92,543
6 years$108,655$102,413$96,532$90,995$85,781$70,660
7 years$92,195$86,006$80,219$74,812$69,763$55,389
8 years$79,857$73,723$68,032$62,758$57,875$44,240
9 years$70,265$64,189$58,596$53,456$48,739$35,831
10 years$62,596$56,580$51,085$46,079$41,528$29,330
11 years$56,325$50,370$44,975$40,103$35,716$24,209
12 years$51,104$45,209$39,914$35,176$30,950$20,114
13 years$46,689$40,856$35,660$31,055$26,989$16,800
14 years$42,908$37,137$32,041$27,567$23,659$14,093
15 years$39,634$33,925$28,929$24,585$20,831$11,864
16 years$36,772$31,126$26,228$22,013$18,411$10,017
17 years$34,250$28,665$23,867$19,779$16,324$8,478
18 years$32,010$26,488$21,787$17,824$14,515$7,190
19 years$30,008$24,549$19,945$16,106$12,937$6,108
20 years$28,209$22,812$18,305$14,587$11,556$5,196
21 years$26,583$21,249$16,837$13,239$10,341$4,425
22 years$25,107$19,835$15,518$12,037$9,269$3,773
23 years$23,762$18,551$14,328$10,962$8,321$3,220
24 years$22,530$17,381$13,251$9,998$7,479$2,750
25 years$21,399$16,311$12,273$9,131$6,730$2,350
26 years$20,356$15,330$11,382$8,349$6,062$2,009
27 years$19,392$14,427$10,570$7,642$5,465$1,718
28 years$18,499$13,595$9,826$7,002$4,931$1,470
29 years$17,669$12,825$9,144$6,421$4,453$1,258
30 years$16,895$12,112$8,517$5,893$4,024$1,077
31 years$16,173$11,450$7,940$5,412$3,638$923
32 years$15,497$10,834$7,408$4,974$3,291$790
33 years$14,864$10,260$6,917$4,574$2,978$677
34 years$14,269$9,724$6,463$4,208$2,696$580
35 years$13,710$9,223$6,042$3,874$2,442$497
36 years$13,182$8,754$5,653$3,568$2,213$426
37 years$12,685$8,314$5,291$3,287$2,005$365
38 years$12,214$7,902$4,955$3,030$1,818$313
39 years$11,769$7,514$4,642$2,794$1,649$268
40 years$11,347$7,149$4,351$2,577$1,495$230
41 years$10,947$6,805$4,080$2,377$1,357$197
42 years$10,567$6,481$3,827$2,194$1,231$169
43 years$10,206$6,175$3,591$2,025$1,117$145
44 years$9,862$5,886$3,371$1,870$1,014$124
45 years$9,534$5,613$3,165$1,727$921$107
46 years$9,221$5,354$2,973$1,595$836$91
47 years$8,923$5,110$2,793$1,474$759$78
48 years$8,637$4,878$2,624$1,362$689$67
49 years$8,365$4,658$2,467$1,259$626$58
50 years$8,104$4,450$2,319$1,163$569$49

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 $2,996 every year, while hoping to spend $59,040 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: 42/28/30 Blend
65$8,300,000$8,300,000$8,300,000$8,300,000
66$9,149,690$8,709,790$8,581,140$9,453,459
67$10,020,141$9,073,752$8,805,790$10,037,284
68$10,977,398$9,453,569$9,035,988$10,663,405
69$12,030,255$9,849,956$9,271,855$11,340,403
70$13,188,397$10,263,660$9,513,519$12,073,019
71$14,462,499$10,695,465$9,761,107$12,866,463
72$15,864,319$11,146,187$10,014,749$13,726,458
73$17,406,813$11,616,684$10,274,577$14,659,295
74$19,104,259$12,107,853$10,540,726$15,671,884
75$20,972,385$12,620,629$10,813,332$16,771,826
76$23,028,525$13,155,996$11,092,535$17,967,474
77$25,291,774$13,714,980$11,378,475$19,268,011
78$27,783,177$14,298,656$11,671,296$20,683,538
79$30,525,920$14,908,149$11,971,143$22,225,162
80$33,545,551$15,544,636$12,278,164$23,905,100
81$36,870,224$16,209,350$12,592,508$25,736,791
82$40,530,958$16,903,579$12,914,329$27,735,019
83$44,561,937$17,628,675$13,243,780$29,916,048
84$49,000,825$18,386,051$13,581,017$32,297,776
85$53,889,127$19,177,186$13,926,199$34,899,897
86$59,272,578$20,003,628$14,279,487$37,744,083
87$65,201,573$20,866,998$14,641,042$40,854,187
88$71,731,647$21,768,994$15,011,031$44,256,460
89$78,923,993$22,711,393$15,389,618$47,979,801
90$86,846,044$23,696,055$15,776,974$52,056,018
91$95,572,106$24,724,926$16,173,267$56,520,128
92$105,184,060$25,800,047$16,578,671$61,410,683
93$115,772,137$26,923,553$16,993,360$66,770,125
94$127,435,766$28,097,678$17,417,509$72,645,185
95$140,284,514$29,324,764$17,851,295$79,087,319
96$154,439,118$30,607,261$18,294,897$86,153,184
97$170,032,628$31,947,736$18,748,496$93,905,171
98$187,211,658$33,348,878$19,212,273$102,411,985
99$206,137,775$34,813,500$19,686,411$111,749,289
100$226,989,016$36,344,550$20,171,094$122,000,410