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

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$726,696$720,223$713,907$707,743$701,724$688,119
2 years$359,750$353,050$346,557$340,261$334,154$320,503
3 years$237,451$230,722$224,245$218,009$212,001$198,728
4 years$176,314$169,605$163,193$157,063$151,201$138,410
5 years$139,641$132,973$126,645$120,639$114,941$102,667
6 years$115,200$108,582$102,348$96,476$90,949$79,206
7 years$97,749$91,187$85,051$79,318$73,966$62,757
8 years$84,667$78,164$72,130$66,538$61,362$50,684
9 years$74,498$68,056$62,126$56,676$51,675$41,522
10 years$66,367$59,988$54,163$48,855$44,030$34,391
11 years$59,718$53,404$47,684$42,519$37,867$28,732
12 years$54,182$47,932$42,318$37,295$32,815$24,170
13 years$49,501$43,317$37,809$32,925$28,615$20,446
14 years$45,493$39,374$33,971$29,228$25,084$17,375
15 years$42,022$35,969$30,671$26,066$22,086$14,822
16 years$38,987$33,001$27,808$23,339$19,520$12,684
17 years$36,313$30,392$25,304$20,970$17,307$10,884
18 years$33,938$28,084$23,100$18,898$15,389$9,360
19 years$31,816$26,028$21,147$17,076$13,717$8,065
20 years$29,908$24,186$19,407$15,466$12,252$6,960
21 years$28,185$22,529$17,851$14,036$10,964$6,015
22 years$26,620$21,030$16,452$12,762$9,828$5,204
23 years$25,193$19,669$15,191$11,623$8,822$4,508
24 years$23,887$18,428$14,049$10,601$7,929$3,908
25 years$22,688$17,294$13,012$9,681$7,135$3,390
26 years$21,582$16,254$12,068$8,852$6,427$2,943
27 years$20,560$15,296$11,206$8,102$5,795$2,556
28 years$19,613$14,414$10,418$7,423$5,229$2,221
29 years$18,733$13,598$9,695$6,807$4,721$1,931
30 years$17,913$12,842$9,030$6,248$4,266$1,680
31 years$17,147$12,140$8,419$5,738$3,857$1,461
32 years$16,431$11,487$7,855$5,273$3,489$1,272
33 years$15,760$10,878$7,334$4,849$3,157$1,107
34 years$15,129$10,310$6,852$4,462$2,859$964
35 years$14,536$9,779$6,407$4,107$2,589$839
36 years$13,976$9,281$5,993$3,783$2,346$731
37 years$13,449$8,815$5,609$3,485$2,126$637
38 years$12,950$8,378$5,253$3,212$1,928$555
39 years$12,478$7,966$4,922$2,962$1,748$483
40 years$12,031$7,579$4,613$2,732$1,585$421
41 years$11,607$7,215$4,325$2,521$1,438$367
42 years$11,204$6,871$4,057$2,326$1,305$320
43 years$10,820$6,547$3,807$2,147$1,185$279
44 years$10,456$6,240$3,574$1,983$1,075$243
45 years$10,108$5,951$3,356$1,831$976$212
46 years$9,777$5,677$3,152$1,691$886$184
47 years$9,460$5,417$2,961$1,563$805$161
48 years$9,158$5,172$2,783$1,444$731$140
49 years$8,869$4,939$2,615$1,335$664$122
50 years$8,592$4,718$2,459$1,233$603$106

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 $4,597 every year, while hoping to spend $56,018 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: 45/44/11 Blend
65$8,800,000$8,800,000$8,800,000$8,800,000
66$9,702,342$9,235,942$9,099,542$10,108,477
67$10,632,378$9,628,900$9,344,774$10,783,512
68$11,655,400$10,039,236$9,596,343$11,508,957
69$12,780,834$10,467,742$9,854,404$12,294,316
70$14,019,065$10,915,247$10,119,112$13,145,141
71$15,381,535$11,382,619$10,390,627$14,067,524
72$16,880,851$11,870,767$10,669,113$15,068,155
73$18,530,904$12,380,641$10,954,735$16,154,381
74$20,347,002$12,913,238$11,247,665$17,334,272
75$22,346,010$13,469,600$11,548,074$18,616,692
76$24,546,509$14,050,817$11,856,142$20,011,380
77$26,968,978$14,658,032$12,172,047$21,529,039
78$29,635,978$15,292,440$12,495,975$23,181,430
79$32,572,372$15,955,293$12,828,114$24,981,481
80$35,805,553$16,647,903$13,168,656$26,943,405
81$39,365,710$17,371,640$13,517,796$29,082,826
82$43,286,104$18,127,942$13,875,733$31,416,927
83$47,603,388$18,918,313$14,242,672$33,964,600
84$52,357,952$19,744,328$14,618,820$36,746,626
85$57,594,301$20,607,638$15,004,388$39,785,859
86$63,361,475$21,509,968$15,399,591$43,107,443
87$69,713,518$22,453,128$15,804,649$46,739,036
88$76,709,977$23,439,012$16,219,785$50,711,068
89$84,416,474$24,469,603$16,645,228$55,057,022
90$92,905,320$25,546,979$17,081,208$59,813,742
91$102,256,196$26,673,314$17,527,962$65,021,775
92$112,556,909$27,850,888$17,985,730$70,725,742
93$123,904,218$29,082,086$18,454,757$76,974,756
94$136,404,748$30,369,408$18,935,291$83,822,874
95$150,175,995$31,715,471$19,427,585$91,329,599
96$165,347,434$33,123,017$19,931,897$99,560,433
97$182,061,745$34,594,917$20,448,488$108,587,488
98$200,476,155$36,134,181$20,977,624$118,490,149
99$220,763,924$37,743,957$21,519,576$129,355,824
100$243,115,981$39,427,548$22,074,619$141,280,747