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

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$693,664$687,485$681,457$675,573$669,828$658,190
2 years$343,398$337,003$330,804$324,795$318,966$307,278
3 years$226,658$220,235$214,052$208,099$202,365$190,992
4 years$168,299$161,896$155,775$149,924$144,328$133,358
5 years$133,293$126,928$120,888$115,156$109,716$99,179
6 years$109,964$103,647$97,695$92,091$86,815$76,723
7 years$93,306$87,042$81,185$75,713$70,604$60,961
8 years$80,819$74,611$68,852$63,514$58,572$49,376
9 years$71,111$64,963$59,302$54,100$49,326$40,572
10 years$63,350$57,261$51,701$46,634$42,029$33,707
11 years$57,004$50,976$45,517$40,586$36,146$28,249
12 years$51,719$45,754$40,395$35,599$31,323$23,841
13 years$47,251$41,348$36,090$31,429$27,315$20,234
14 years$43,425$37,584$32,427$27,899$23,944$17,254
15 years$40,111$34,334$29,277$24,881$21,082$14,769
16 years$37,215$31,501$26,544$22,278$18,632$12,684
17 years$34,662$29,011$24,154$20,017$16,521$10,922
18 years$32,396$26,807$22,050$18,039$14,689$9,427
19 years$30,370$24,845$20,185$16,300$13,093$8,153
20 years$28,549$23,087$18,525$14,763$11,695$7,062
21 years$26,904$21,505$17,040$13,398$10,466$6,127
22 years$25,410$20,074$15,705$12,182$9,381$5,322
23 years$24,048$18,775$14,500$11,094$8,421$4,627
24 years$22,802$17,591$13,410$10,119$7,569$4,027
25 years$21,656$16,508$12,421$9,241$6,811$3,507
26 years$20,601$15,515$11,520$8,449$6,135$3,057
27 years$19,626$14,601$10,697$7,734$5,531$2,666
28 years$18,722$13,759$9,944$7,086$4,991$2,326
29 years$17,882$12,980$9,254$6,498$4,507$2,031
30 years$17,099$12,258$8,620$5,964$4,072$1,773
31 years$16,368$11,588$8,036$5,477$3,682$1,549
32 years$15,684$10,964$7,498$5,034$3,330$1,354
33 years$15,043$10,383$7,001$4,629$3,014$1,183
34 years$14,441$9,841$6,541$4,259$2,729$1,035
35 years$13,875$9,334$6,115$3,921$2,471$905
36 years$13,341$8,860$5,721$3,611$2,239$791
37 years$12,837$8,415$5,354$3,327$2,030$692
38 years$12,361$7,997$5,014$3,066$1,840$606
39 years$11,911$7,604$4,698$2,827$1,669$530
40 years$11,484$7,235$4,403$2,608$1,513$464
41 years$11,079$6,887$4,129$2,406$1,373$406
42 years$10,694$6,559$3,873$2,221$1,246$355
43 years$10,329$6,249$3,634$2,050$1,131$311
44 years$9,980$5,957$3,411$1,893$1,026$272
45 years$9,649$5,680$3,203$1,748$932$238
46 years$9,332$5,419$3,009$1,615$846$208
47 years$9,030$5,171$2,826$1,492$768$182
48 years$8,741$4,937$2,656$1,378$698$160
49 years$8,465$4,714$2,497$1,274$634$140
50 years$8,201$4,503$2,347$1,177$575$122

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 $2,549 every year, while hoping to spend $44,065 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: 69/8/23 Blend
65$8,400,000$8,400,000$8,400,000$8,400,000
66$9,259,429$8,814,229$8,684,029$9,844,397
67$10,157,006$9,199,242$8,928,059$10,621,274
68$11,144,659$9,601,643$9,178,788$11,465,755
69$12,231,529$10,022,238$9,436,392$12,388,845
70$13,427,689$10,461,871$9,701,055$13,398,315
71$14,744,236$10,921,426$9,972,963$14,502,724
72$16,193,399$11,401,826$10,252,308$15,711,492
73$17,788,651$11,904,042$10,539,286$17,034,994
74$19,544,841$12,429,087$10,834,099$18,484,652
75$21,478,327$12,978,025$11,136,954$20,073,043
76$23,607,136$13,551,967$11,448,061$21,814,019
77$25,951,131$14,152,081$11,767,639$23,722,833
78$28,532,199$14,779,586$12,095,908$25,816,282
79$31,374,459$15,435,762$12,433,096$28,112,868
80$34,504,487$16,121,947$12,779,438$30,632,966
81$37,951,568$16,839,545$13,135,172$33,399,019
82$41,747,971$17,590,026$13,500,543$36,435,746
83$45,929,255$18,374,929$13,875,803$39,770,374
84$50,534,605$19,195,866$14,261,208$43,432,894
85$55,607,198$20,054,526$14,657,022$47,456,343
86$61,194,614$20,952,680$15,063,514$51,877,113
87$67,349,285$21,892,182$15,480,962$56,735,292
88$74,128,986$22,874,973$15,909,648$62,075,043
89$81,597,383$23,903,087$16,349,862$67,945,016
90$89,824,636$24,978,658$16,801,902$74,398,808
91$98,888,054$26,103,917$17,266,071$81,495,464
92$108,872,832$27,281,206$17,742,681$89,300,035
93$119,872,850$28,512,974$18,232,050$97,884,188
94$131,991,563$29,801,792$18,734,506$107,326,879
95$145,342,972$31,150,350$19,250,381$117,715,101
96$160,052,706$32,561,467$19,780,019$129,144,695
97$176,259,201$34,038,099$20,323,770$141,721,259
98$194,115,015$35,583,341$20,881,991$155,561,139
99$213,788,259$37,200,437$21,455,050$170,792,523
100$235,464,190$38,892,786$22,043,323$187,556,651