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

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$734,954$728,407$722,020$715,786$709,698$704,635
2 years$363,838$357,062$350,495$344,128$337,952$332,846
3 years$240,150$233,344$226,794$220,486$214,410$209,421
4 years$178,317$171,533$165,048$158,848$152,919$148,084
5 years$141,228$134,484$128,084$122,010$116,247$111,580
6 years$116,509$109,816$103,511$97,573$91,982$87,489
7 years$98,860$92,223$86,018$80,220$74,806$70,490
8 years$85,629$79,052$72,950$67,294$62,059$57,919
9 years$75,344$68,829$62,832$57,320$52,263$48,298
10 years$67,121$60,670$54,778$49,410$44,530$40,739
11 years$60,397$54,011$48,226$43,002$38,298$34,677
12 years$54,798$48,477$42,799$37,718$33,188$29,735
13 years$50,064$43,809$38,238$33,300$28,940$25,651
14 years$46,010$39,821$34,357$29,560$25,369$22,240
15 years$42,499$36,377$31,020$26,362$22,337$19,363
16 years$39,430$33,376$28,124$23,604$19,741$16,919
17 years$36,726$30,738$25,592$21,208$17,504$14,828
18 years$34,324$28,403$23,362$19,113$15,564$13,029
19 years$32,178$26,324$21,387$17,270$13,872$11,474
20 years$30,248$24,461$19,628$15,642$12,391$10,125
21 years$28,505$22,785$18,054$14,196$11,089$8,949
22 years$26,922$21,269$16,639$12,907$9,939$7,922
23 years$25,479$19,892$15,363$11,755$8,922$7,021
24 years$24,159$18,638$14,209$10,721$8,019$6,230
25 years$22,946$17,490$13,160$9,791$7,216$5,534
26 years$21,828$16,438$12,205$8,952$6,500$4,920
27 years$20,794$15,470$11,334$8,194$5,860$4,377
28 years$19,836$14,578$10,536$7,508$5,288$3,897
29 years$18,946$13,752$9,805$6,885$4,775$3,472
30 years$18,117$12,988$9,133$6,319$4,314$3,094
31 years$17,342$12,278$8,514$5,803$3,901$2,759
32 years$16,618$11,617$7,944$5,333$3,528$2,462
33 years$15,939$11,002$7,417$4,904$3,193$2,197
34 years$15,301$10,427$6,930$4,512$2,891$1,961
35 years$14,701$9,890$6,479$4,154$2,619$1,752
36 years$14,135$9,387$6,061$3,826$2,373$1,565
37 years$13,602$8,915$5,673$3,525$2,150$1,398
38 years$13,097$8,473$5,313$3,249$1,949$1,249
39 years$12,620$8,057$4,977$2,996$1,768$1,117
40 years$12,168$7,665$4,665$2,763$1,604$998
41 years$11,739$7,297$4,375$2,549$1,455$893
42 years$11,331$6,949$4,104$2,353$1,320$798
43 years$10,943$6,621$3,851$2,172$1,198$714
44 years$10,574$6,311$3,614$2,005$1,087$639
45 years$10,223$6,018$3,394$1,852$987$571
46 years$9,888$5,741$3,188$1,711$896$511
47 years$9,568$5,479$2,995$1,580$814$457
48 years$9,262$5,230$2,814$1,460$739$409
49 years$8,969$4,995$2,645$1,350$671$366
50 years$8,690$4,771$2,487$1,248$610$328

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 $3,757 every year, while hoping to spend $25,017 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: 79/5/16 Blend
65$8,900,000$8,900,000$8,900,000$8,900,000
66$9,811,675$9,339,975$9,202,025$10,553,034
67$10,785,848$9,771,016$9,483,675$11,473,007
68$11,858,549$10,222,340$9,773,922$12,478,619
69$13,039,799$10,694,913$10,073,027$13,581,316
70$14,340,645$11,189,750$10,381,260$14,790,809
71$15,773,258$11,707,915$10,698,899$16,117,796
72$17,351,047$12,250,520$11,026,229$17,574,059
73$19,088,792$12,818,733$11,363,546$19,172,573
74$21,002,777$13,413,779$11,711,153$20,927,630
75$23,110,947$14,036,941$12,069,363$22,854,971
76$25,433,075$14,689,563$12,438,499$24,971,934
77$27,990,952$15,373,055$12,818,892$27,297,620
78$30,808,589$16,088,895$13,210,885$29,853,065
79$33,912,446$16,838,631$13,614,830$32,661,445
80$37,331,680$17,623,888$14,031,091$35,748,289
81$41,098,420$18,446,368$14,460,042$39,141,719
82$45,248,074$19,307,855$14,902,068$42,872,718
83$49,819,658$20,210,220$15,357,567$46,975,415
84$54,856,166$21,155,423$15,826,948$51,487,413
85$60,404,977$22,145,521$16,310,633$56,450,135
86$66,518,301$23,182,669$16,809,056$61,909,220
87$73,253,673$24,269,125$17,322,665$67,914,949
88$80,674,494$25,407,258$17,851,921$74,522,718
89$88,850,630$26,599,552$18,397,298$81,793,560
90$97,859,074$27,848,609$18,959,287$89,794,721
91$107,784,668$29,157,159$19,538,391$98,600,290
92$118,720,907$30,528,063$20,135,130$108,291,898
93$130,770,822$31,964,321$20,750,040$118,959,487
94$144,047,950$33,469,077$21,383,670$130,702,157
95$158,677,409$35,045,629$22,036,591$143,629,099
96$174,797,074$36,697,434$22,709,386$157,860,624
97$192,558,883$38,428,117$23,402,659$173,529,297
98$212,130,272$40,241,477$24,117,030$190,781,183
99$233,695,749$42,141,498$24,853,140$209,777,229
100$257,458,642$44,132,359$25,611,647$230,694,776