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%14.9%
1 years$685,406$679,301$673,344$667,531$661,854$648,490
2 years$339,310$332,991$326,866$320,928$315,168$301,764
3 years$223,960$217,613$211,504$205,622$199,956$186,928
4 years$166,296$159,969$153,921$148,139$142,610$130,059
5 years$131,707$125,417$119,449$113,785$108,410$96,372
6 years$108,655$102,413$96,532$90,995$85,781$74,269
7 years$92,195$86,006$80,219$74,812$69,763$58,779
8 years$79,857$73,723$68,032$62,758$57,875$47,416
9 years$70,265$64,189$58,596$53,456$48,739$38,798
10 years$62,596$56,580$51,085$46,079$41,528$32,096
11 years$56,325$50,370$44,975$40,103$35,716$26,780
12 years$51,104$45,209$39,914$35,176$30,950$22,499
13 years$46,689$40,856$35,660$31,055$26,989$19,007
14 years$42,908$37,137$32,041$27,567$23,659$16,131
15 years$39,634$33,925$28,929$24,585$20,831$13,742
16 years$36,772$31,126$26,228$22,013$18,411$11,743
17 years$34,250$28,665$23,867$19,779$16,324$10,062
18 years$32,010$26,488$21,787$17,824$14,515$8,640
19 years$30,008$24,549$19,945$16,106$12,937$7,434
20 years$28,209$22,812$18,305$14,587$11,556$6,406
21 years$26,583$21,249$16,837$13,239$10,341$5,527
22 years$25,107$19,835$15,518$12,037$9,269$4,775
23 years$23,762$18,551$14,328$10,962$8,321$4,130
24 years$22,530$17,381$13,251$9,998$7,479$3,574
25 years$21,399$16,311$12,273$9,131$6,730$3,096
26 years$20,356$15,330$11,382$8,349$6,062$2,683
27 years$19,392$14,427$10,570$7,642$5,465$2,327
28 years$18,499$13,595$9,826$7,002$4,931$2,019
29 years$17,669$12,825$9,144$6,421$4,453$1,752
30 years$16,895$12,112$8,517$5,893$4,024$1,522
31 years$16,173$11,450$7,940$5,412$3,638$1,322
32 years$15,497$10,834$7,408$4,974$3,291$1,148
33 years$14,864$10,260$6,917$4,574$2,978$998
34 years$14,269$9,724$6,463$4,208$2,696$867
35 years$13,710$9,223$6,042$3,874$2,442$754
36 years$13,182$8,754$5,653$3,568$2,213$655
37 years$12,685$8,314$5,291$3,287$2,005$570
38 years$12,214$7,902$4,955$3,030$1,818$496
39 years$11,769$7,514$4,642$2,794$1,649$431
40 years$11,347$7,149$4,351$2,577$1,495$375
41 years$10,947$6,805$4,080$2,377$1,357$326
42 years$10,567$6,481$3,827$2,194$1,231$284
43 years$10,206$6,175$3,591$2,025$1,117$247
44 years$9,862$5,886$3,371$1,870$1,014$215
45 years$9,534$5,613$3,165$1,727$921$187
46 years$9,221$5,354$2,973$1,595$836$163
47 years$8,923$5,110$2,793$1,474$759$141
48 years$8,637$4,878$2,624$1,362$689$123
49 years$8,365$4,658$2,467$1,259$626$107
50 years$8,104$4,450$2,319$1,163$569$93

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 $2,858 every year, while hoping to spend $47,754 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: 44/50/6 Blend
65$8,300,000$8,300,000$8,300,000$8,300,000
66$9,149,548$8,709,648$8,580,998$9,536,540
67$10,031,992$9,085,611$8,817,652$10,180,125
68$11,002,845$9,478,395$9,060,633$10,872,069
69$12,071,074$9,888,775$9,310,102$11,620,864
70$13,246,559$10,317,561$9,566,227$12,431,735
71$14,540,187$10,765,601$9,829,174$13,310,417
72$15,963,953$11,233,783$10,099,119$14,263,203
73$17,531,075$11,723,036$10,376,238$15,297,000
74$19,256,115$12,234,335$10,660,712$16,419,392
75$21,155,121$12,768,700$10,952,728$17,638,705
76$23,245,774$13,327,197$11,252,475$18,964,087
77$25,547,557$13,910,944$11,560,147$20,405,581
78$28,081,940$14,521,113$11,875,945$21,974,224
79$30,872,579$15,158,928$12,200,070$23,682,143
80$33,945,541$15,825,675$12,532,731$25,542,664
81$37,329,550$16,522,696$12,874,141$27,570,432
82$41,056,257$17,251,401$13,224,518$29,781,546
83$45,160,540$18,013,264$13,584,084$32,193,707
84$49,680,830$18,809,830$13,953,066$34,826,372
85$54,659,479$19,642,715$14,331,697$37,700,940
86$60,143,153$20,513,615$14,720,216$40,840,942
87$66,183,276$21,424,304$15,118,865$44,272,260
88$72,836,515$22,376,640$15,527,892$48,023,359
89$80,165,315$23,372,571$15,947,552$52,125,556
90$88,238,487$24,414,136$16,378,104$56,613,300
91$97,131,855$25,503,471$16,819,814$61,524,497
92$106,928,978$26,642,815$17,272,951$66,900,851
93$117,721,932$27,834,512$17,737,793$72,788,257
94$129,612,183$29,081,016$18,214,623$79,237,217
95$142,711,542$30,384,902$18,703,729$86,303,316
96$157,143,221$31,748,864$19,205,406$94,047,728
97$173,042,997$33,175,726$19,719,954$102,537,788
98$190,560,492$34,668,446$20,247,682$111,847,617
99$209,860,585$36,230,123$20,788,903$122,058,806
100$231,124,971$37,864,005$21,343,937$133,261,178