Can I retire at age 66 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$734,954$728,407$722,020$715,786$709,698$692,542
2 years$363,838$357,062$350,495$344,128$337,952$320,770
3 years$240,150$233,344$226,794$220,486$214,410$197,740
4 years$178,317$171,533$165,048$158,848$152,919$136,889
5 years$141,228$134,484$128,084$122,010$116,247$100,901
6 years$116,509$109,816$103,511$97,573$91,982$77,337
7 years$98,860$92,223$86,018$80,220$74,806$60,863
8 years$85,629$79,052$72,950$67,294$62,059$48,812
9 years$75,344$68,829$62,832$57,320$52,263$39,701
10 years$67,121$60,670$54,778$49,410$44,530$32,640
11 years$60,397$54,011$48,226$43,002$38,298$27,062
12 years$54,798$48,477$42,799$37,718$33,188$22,588
13 years$50,064$43,809$38,238$33,300$28,940$18,956
14 years$46,010$39,821$34,357$29,560$25,369$15,978
15 years$42,499$36,377$31,020$26,362$22,337$13,517
16 years$39,430$33,376$28,124$23,604$19,741$11,469
17 years$36,726$30,738$25,592$21,208$17,504$9,757
18 years$34,324$28,403$23,362$19,113$15,564$8,317
19 years$32,178$26,324$21,387$17,270$13,872$7,102
20 years$30,248$24,461$19,628$15,642$12,391$6,074
21 years$28,505$22,785$18,054$14,196$11,089$5,202
22 years$26,922$21,269$16,639$12,907$9,939$4,459
23 years$25,479$19,892$15,363$11,755$8,922$3,826
24 years$24,159$18,638$14,209$10,721$8,019$3,286
25 years$22,946$17,490$13,160$9,791$7,216$2,823
26 years$21,828$16,438$12,205$8,952$6,500$2,427
27 years$20,794$15,470$11,334$8,194$5,860$2,088
28 years$19,836$14,578$10,536$7,508$5,288$1,797
29 years$18,946$13,752$9,805$6,885$4,775$1,547
30 years$18,117$12,988$9,133$6,319$4,314$1,332
31 years$17,342$12,278$8,514$5,803$3,901$1,148
32 years$16,618$11,617$7,944$5,333$3,528$989
33 years$15,939$11,002$7,417$4,904$3,193$852
34 years$15,301$10,427$6,930$4,512$2,891$734
35 years$14,701$9,890$6,479$4,154$2,619$633
36 years$14,135$9,387$6,061$3,826$2,373$546
37 years$13,602$8,915$5,673$3,525$2,150$471
38 years$13,097$8,473$5,313$3,249$1,949$406
39 years$12,620$8,057$4,977$2,996$1,768$350
40 years$12,168$7,665$4,665$2,763$1,604$302
41 years$11,739$7,297$4,375$2,549$1,455$260
42 years$11,331$6,949$4,104$2,353$1,320$225
43 years$10,943$6,621$3,851$2,172$1,198$194
44 years$10,574$6,311$3,614$2,005$1,087$167
45 years$10,223$6,018$3,394$1,852$987$144
46 years$9,888$5,741$3,188$1,711$896$124
47 years$9,568$5,479$2,995$1,580$814$107
48 years$9,262$5,230$2,814$1,460$739$93
49 years$8,969$4,995$2,645$1,350$671$80
50 years$8,690$4,771$2,487$1,248$610$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,900,000, adding $3,388 every year, while hoping to spend $57,733 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: 39/40/21 Blend
65$8,900,000$8,900,000$8,900,000$8,900,000
66$9,811,295$9,339,595$9,201,645$10,132,439
67$10,750,619$9,735,807$9,448,472$10,760,275
68$11,783,820$10,149,500$9,701,634$11,432,982
69$12,920,411$10,581,467$9,961,280$12,159,205
70$14,170,876$11,032,541$10,227,566$12,943,831
71$15,546,765$11,503,595$10,500,649$13,792,224
72$17,060,803$11,995,540$10,780,689$14,710,272
73$18,727,015$12,509,331$11,067,851$15,704,437
74$20,560,849$13,045,966$11,362,303$16,781,815
75$22,579,329$13,606,493$11,664,214$17,950,200
76$24,801,215$14,192,006$11,973,760$19,218,150
77$27,247,176$14,803,650$12,291,117$20,595,069
78$29,939,986$15,442,627$12,616,468$22,091,287
79$32,904,741$16,110,192$12,949,995$23,718,157
80$36,169,093$16,807,660$13,291,889$25,488,158
81$39,763,514$17,536,409$13,642,341$27,415,003
82$43,721,578$18,297,879$14,001,545$29,513,771
83$48,080,284$19,093,580$14,369,702$31,801,039
84$52,880,399$19,925,092$14,747,013$34,295,037
85$58,166,848$20,794,070$15,133,686$37,015,809
86$63,989,134$21,702,246$15,529,932$39,985,405
87$70,401,804$22,651,434$15,935,963$43,228,077
88$77,464,969$23,643,535$16,351,999$46,770,503
89$85,244,865$24,680,538$16,778,260$50,642,033
90$93,814,482$25,764,526$17,214,973$54,874,960
91$103,254,252$26,897,680$17,662,367$59,504,818
92$113,652,805$28,082,285$18,120,675$64,570,708
93$125,107,808$29,320,735$18,590,135$70,115,662
94$137,726,889$30,615,535$19,070,989$76,187,038
95$151,628,645$31,969,309$19,563,480$82,836,963
96$166,943,769$33,384,808$20,067,859$90,122,815
97$183,816,279$34,864,909$20,584,378$98,107,751
98$202,404,879$36,412,629$21,113,295$106,861,302
99$222,884,456$38,031,127$21,654,869$116,460,013
100$245,447,729$39,723,711$22,209,366$126,988,157