Can I retire at age 66 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$693,664$687,485$681,457$675,573$669,828$650,210
2 years$343,398$337,003$330,804$324,795$318,966$299,360
3 years$226,658$220,235$214,052$208,099$202,365$183,386
4 years$168,299$161,896$155,775$149,924$144,328$126,122
5 years$133,293$126,928$120,888$115,156$109,716$92,331
6 years$109,964$103,647$97,695$92,091$86,815$70,267
7 years$93,306$87,042$81,185$75,713$70,604$54,893
8 years$80,819$74,611$68,852$63,514$58,572$43,690
9 years$71,111$64,963$59,302$54,100$49,326$35,257
10 years$63,350$57,261$51,701$46,634$42,029$28,752
11 years$57,004$50,976$45,517$40,586$36,146$23,641
12 years$51,719$45,754$40,395$35,599$31,323$19,564
13 years$47,251$41,348$36,090$31,429$27,315$16,275
14 years$43,425$37,584$32,427$27,899$23,944$13,596
15 years$40,111$34,334$29,277$24,881$21,082$11,398
16 years$37,215$31,501$26,544$22,278$18,632$9,582
17 years$34,662$29,011$24,154$20,017$16,521$8,074
18 years$32,396$26,807$22,050$18,039$14,689$6,817
19 years$30,370$24,845$20,185$16,300$13,093$5,765
20 years$28,549$23,087$18,525$14,763$11,695$4,882
21 years$26,904$21,505$17,040$13,398$10,466$4,139
22 years$25,410$20,074$15,705$12,182$9,381$3,512
23 years$24,048$18,775$14,500$11,094$8,421$2,983
24 years$22,802$17,591$13,410$10,119$7,569$2,535
25 years$21,656$16,508$12,421$9,241$6,811$2,156
26 years$20,601$15,515$11,520$8,449$6,135$1,835
27 years$19,626$14,601$10,697$7,734$5,531$1,562
28 years$18,722$13,759$9,944$7,086$4,991$1,330
29 years$17,882$12,980$9,254$6,498$4,507$1,133
30 years$17,099$12,258$8,620$5,964$4,072$965
31 years$16,368$11,588$8,036$5,477$3,682$822
32 years$15,684$10,964$7,498$5,034$3,330$701
33 years$15,043$10,383$7,001$4,629$3,014$597
34 years$14,441$9,841$6,541$4,259$2,729$509
35 years$13,875$9,334$6,115$3,921$2,471$434
36 years$13,341$8,860$5,721$3,611$2,239$370
37 years$12,837$8,415$5,354$3,327$2,030$316
38 years$12,361$7,997$5,014$3,066$1,840$269
39 years$11,911$7,604$4,698$2,827$1,669$230
40 years$11,484$7,235$4,403$2,608$1,513$196
41 years$11,079$6,887$4,129$2,406$1,373$167
42 years$10,694$6,559$3,873$2,221$1,246$143
43 years$10,329$6,249$3,634$2,050$1,131$122
44 years$9,980$5,957$3,411$1,893$1,026$104
45 years$9,649$5,680$3,203$1,748$932$89
46 years$9,332$5,419$3,009$1,615$846$76
47 years$9,030$5,171$2,826$1,492$768$64
48 years$8,741$4,937$2,656$1,378$698$55
49 years$8,465$4,714$2,497$1,274$634$47
50 years$8,201$4,503$2,347$1,177$575$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,400,000, adding $4,634 every year, while hoping to spend $22,717 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: 43/42/15 Blend
65$8,400,000$8,400,000$8,400,000$8,400,000
66$9,261,580$8,816,380$8,686,180$9,619,256
67$10,182,090$9,224,212$8,952,996$10,278,506
68$11,195,732$9,651,266$9,227,990$10,989,665
69$12,311,979$10,098,461$9,511,410$11,759,627
70$13,541,273$10,566,758$9,803,514$12,593,802
71$14,895,120$11,057,166$10,104,569$13,498,129
72$16,386,197$11,570,742$10,414,847$14,479,123
73$18,028,475$12,108,594$10,734,630$15,543,936
74$19,837,348$12,671,884$11,064,209$16,700,419
75$21,829,780$13,261,829$11,403,883$17,957,195
76$24,024,464$13,879,705$11,753,960$19,323,730
77$26,442,000$14,526,851$12,114,758$20,810,426
78$29,105,086$15,204,669$12,486,604$22,428,707
79$32,038,737$15,914,629$12,869,837$24,191,126
80$35,270,514$16,658,273$13,264,803$26,111,476
81$38,830,794$17,437,215$13,671,861$28,204,920
82$42,753,047$18,253,150$14,091,380$30,488,121
83$47,074,157$19,107,854$14,523,741$32,979,399
84$51,834,769$20,003,188$14,969,335$35,698,894
85$57,079,675$20,941,103$15,428,566$38,668,754
86$62,858,230$21,923,645$15,901,852$41,913,332
87$69,224,825$22,952,960$16,389,619$45,459,413
88$76,239,397$24,031,295$16,892,312$49,336,460
89$83,967,996$25,161,008$17,410,384$53,576,878
90$92,483,404$26,344,570$17,944,305$58,216,319
91$101,865,831$27,584,574$18,494,559$63,294,008
92$112,203,663$28,883,735$19,061,643$68,853,101
93$123,594,300$30,244,901$19,646,072$74,941,087
94$136,145,077$31,671,060$20,248,374$81,610,225
95$149,974,274$33,165,341$20,869,093$88,918,028
96$165,212,235$34,731,028$21,508,793$96,927,794
97$182,002,596$36,371,561$22,168,051$105,709,192
98$200,503,643$38,090,551$22,847,463$115,338,911
99$220,889,807$39,891,779$23,547,645$125,901,367
100$243,353,304$41,779,213$24,269,228$137,489,492