Can I retire at age 66 with 8,800,000?

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 $8,800,000?

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$726,696$720,223$713,907$707,743$701,724$689,532
2 years$359,750$353,050$346,557$340,261$334,154$321,910
3 years$237,451$230,722$224,245$218,009$212,001$200,087
4 years$176,314$169,605$163,193$157,063$151,201$139,708
5 years$139,641$132,973$126,645$120,639$114,941$103,902
6 years$115,200$108,582$102,348$96,476$90,949$80,377
7 years$97,749$91,187$85,051$79,318$73,966$63,864
8 years$84,667$78,164$72,130$66,538$61,362$51,728
9 years$74,498$68,056$62,126$56,676$51,675$42,504
10 years$66,367$59,988$54,163$48,855$44,030$35,312
11 years$59,718$53,404$47,684$42,519$37,867$29,594
12 years$54,182$47,932$42,318$37,295$32,815$24,976
13 years$49,501$43,317$37,809$32,925$28,615$21,198
14 years$45,493$39,374$33,971$29,228$25,084$18,076
15 years$42,022$35,969$30,671$26,066$22,086$15,473
16 years$38,987$33,001$27,808$23,339$19,520$13,288
17 years$36,313$30,392$25,304$20,970$17,307$11,442
18 years$33,938$28,084$23,100$18,898$15,389$9,876
19 years$31,816$26,028$21,147$17,076$13,717$8,541
20 years$29,908$24,186$19,407$15,466$12,252$7,399
21 years$28,185$22,529$17,851$14,036$10,964$6,418
22 years$26,620$21,030$16,452$12,762$9,828$5,575
23 years$25,193$19,669$15,191$11,623$8,822$4,847
24 years$23,887$18,428$14,049$10,601$7,929$4,219
25 years$22,688$17,294$13,012$9,681$7,135$3,674
26 years$21,582$16,254$12,068$8,852$6,427$3,203
27 years$20,560$15,296$11,206$8,102$5,795$2,793
28 years$19,613$14,414$10,418$7,423$5,229$2,437
29 years$18,733$13,598$9,695$6,807$4,721$2,127
30 years$17,913$12,842$9,030$6,248$4,266$1,858
31 years$17,147$12,140$8,419$5,738$3,857$1,623
32 years$16,431$11,487$7,855$5,273$3,489$1,418
33 years$15,760$10,878$7,334$4,849$3,157$1,240
34 years$15,129$10,310$6,852$4,462$2,859$1,084
35 years$14,536$9,779$6,407$4,107$2,589$948
36 years$13,976$9,281$5,993$3,783$2,346$829
37 years$13,449$8,815$5,609$3,485$2,126$725
38 years$12,950$8,378$5,253$3,212$1,928$634
39 years$12,478$7,966$4,922$2,962$1,748$555
40 years$12,031$7,579$4,613$2,732$1,585$486
41 years$11,607$7,215$4,325$2,521$1,438$425
42 years$11,204$6,871$4,057$2,326$1,305$372
43 years$10,820$6,547$3,807$2,147$1,185$326
44 years$10,456$6,240$3,574$1,983$1,075$285
45 years$10,108$5,951$3,356$1,831$976$249
46 years$9,777$5,677$3,152$1,691$886$218
47 years$9,460$5,417$2,961$1,563$805$191
48 years$9,158$5,172$2,783$1,444$731$167
49 years$8,869$4,939$2,615$1,335$664$147
50 years$8,592$4,718$2,459$1,233$603$128

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,800,000, adding $2,778 every year, while hoping to spend $23,124 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: 64/18/18 Blend
65$8,800,000$8,800,000$8,800,000$8,800,000
66$9,700,466$9,234,066$9,097,666$10,277,330
67$10,665,309$9,661,931$9,377,834$11,092,925
68$11,727,792$10,109,987$9,666,612$11,980,658
69$12,897,849$10,579,198$9,964,265$12,949,909
70$14,186,426$11,070,576$10,271,066$14,008,639
71$15,605,588$11,585,181$10,587,293$15,165,609
72$17,168,628$12,124,124$10,913,236$16,430,458
73$18,890,192$12,688,570$11,249,194$17,813,793
74$20,786,422$13,279,741$11,595,473$19,327,284
75$22,875,105$13,898,916$11,952,389$20,983,777
76$25,175,840$14,547,437$12,320,268$22,797,409
77$27,710,226$15,226,711$12,699,447$24,783,742
78$30,502,062$15,938,213$13,090,272$26,959,904
79$33,577,575$16,683,489$13,493,099$29,344,750
80$36,965,666$17,464,158$13,908,296$31,959,038
81$40,698,183$18,281,920$14,336,243$34,825,621
82$44,810,219$19,138,557$14,777,329$37,969,660
83$49,340,450$20,035,934$15,231,958$41,418,857
84$54,331,491$20,976,010$15,700,543$45,203,716
85$59,830,305$21,960,836$16,183,513$49,357,827
86$65,888,644$22,992,565$16,681,309$53,918,177
87$72,563,536$24,073,451$17,194,383$58,925,497
88$79,917,826$25,205,860$17,723,204$64,424,644
89$88,020,767$26,392,270$18,268,255$70,465,019
90$96,948,675$27,635,281$18,830,031$77,101,029
91$106,785,648$28,937,617$19,409,045$84,392,597
92$117,624,361$30,302,137$20,005,824$92,405,723
93$129,566,939$31,731,836$20,620,913$101,213,100
94$142,725,925$33,229,853$21,254,872$110,894,800
95$157,225,336$34,799,483$21,908,277$121,539,019
96$173,201,841$36,444,178$22,581,725$133,242,909
97$190,806,044$38,167,558$23,275,828$146,113,486
98$210,203,911$39,973,419$23,991,218$160,268,638
99$231,578,333$41,865,740$24,728,547$175,838,226
100$255,130,855$43,848,693$25,488,486$192,965,309