Can I retire at age 70 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$660,633$654,748$649,007$643,403$637,931$617,017
2 years$327,046$320,955$315,052$309,328$303,777$282,905
3 years$215,865$209,748$203,859$198,190$192,728$172,555
4 years$160,285$154,187$148,357$142,785$137,456$118,135
5 years$126,946$120,884$115,131$109,672$104,492$86,075
6 years$104,727$98,711$93,043$87,706$82,681$65,184
7 years$88,863$82,897$77,319$72,108$67,241$50,662
8 years$76,970$71,058$65,573$60,489$55,783$40,109
9 years$67,725$61,869$56,478$51,524$46,978$32,190
10 years$60,333$54,535$49,239$44,414$40,027$26,103
11 years$54,289$48,549$43,349$38,653$34,425$21,338
12 years$49,256$43,575$38,471$33,904$29,832$17,554
13 years$45,001$39,379$34,371$29,932$26,014$14,514
14 years$41,357$35,794$30,883$26,571$22,804$12,050
15 years$38,201$32,699$27,883$23,696$20,078$10,037
16 years$35,443$30,001$25,280$21,217$17,745$8,383
17 years$33,012$27,629$23,004$19,064$15,734$7,018
18 years$30,853$25,531$21,000$17,180$13,990$5,885
19 years$28,924$23,662$19,224$15,524$12,470$4,944
20 years$27,189$21,988$17,643$14,060$11,138$4,158
21 years$25,622$20,481$16,228$12,760$9,967$3,501
22 years$24,200$19,118$14,957$11,602$8,934$2,950
23 years$22,903$17,881$13,810$10,566$8,020$2,488
24 years$21,716$16,753$12,772$9,637$7,208$2,099
25 years$20,625$15,722$11,829$8,801$6,487$1,772
26 years$19,620$14,776$10,971$8,047$5,843$1,497
27 years$18,691$13,906$10,188$7,366$5,268$1,265
28 years$17,830$13,103$9,471$6,749$4,753$1,069
29 years$17,030$12,362$8,813$6,189$4,292$904
30 years$16,285$11,674$8,209$5,680$3,878$765
31 years$15,589$11,036$7,653$5,216$3,506$647
32 years$14,937$10,442$7,141$4,794$3,172$547
33 years$14,327$9,889$6,667$4,408$2,870$463
34 years$13,753$9,373$6,229$4,056$2,599$392
35 years$13,214$8,890$5,824$3,734$2,354$332
36 years$12,706$8,438$5,448$3,439$2,133$281
37 years$12,226$8,014$5,100$3,168$1,933$237
38 years$11,773$7,616$4,775$2,920$1,752$201
39 years$11,344$7,242$4,474$2,693$1,589$170
40 years$10,937$6,890$4,194$2,484$1,441$144
41 years$10,552$6,559$3,932$2,291$1,308$122
42 years$10,185$6,246$3,689$2,115$1,187$103
43 years$9,837$5,952$3,461$1,952$1,077$87
44 years$9,505$5,673$3,249$1,803$977$74
45 years$9,189$5,410$3,051$1,665$887$63
46 years$8,888$5,161$2,865$1,538$806$53
47 years$8,600$4,925$2,692$1,421$732$45
48 years$8,325$4,702$2,530$1,313$664$38
49 years$8,062$4,490$2,378$1,213$603$32
50 years$7,811$4,289$2,235$1,121$548$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $8,000,000, adding $2,091 every year, while hoping to spend $31,749 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: 76/8/16 Blend
69$8,000,000$8,000,000$8,000,000$8,000,000
70$8,818,157$8,394,157$8,270,157$9,457,186
71$9,683,828$8,771,690$8,513,426$10,257,232
72$10,636,734$9,166,658$8,763,781$11,129,947
73$11,685,738$9,579,882$9,021,426$12,085,886
74$12,840,609$10,012,221$9,286,569$13,133,338
75$14,112,109$10,464,578$9,559,427$14,281,427
76$15,512,097$10,937,895$9,840,220$15,540,202
77$17,053,641$11,433,162$10,129,178$16,920,729
78$18,751,141$11,951,416$10,426,534$18,435,193
79$20,620,464$12,493,742$10,732,530$20,097,015
80$22,679,094$13,061,278$11,047,412$21,920,974
81$24,946,298$13,655,217$11,371,436$23,923,348
82$27,443,305$14,276,807$11,704,865$26,122,067
83$30,193,511$14,927,359$12,047,966$28,536,879
84$33,222,693$15,608,244$12,401,017$31,189,534
85$36,559,260$16,320,900$12,764,303$34,103,993
86$40,234,514$17,066,834$13,138,117$37,306,647
87$44,282,949$17,847,623$13,522,759$40,826,568
88$48,742,577$18,664,924$13,918,538$44,695,781
89$53,655,284$19,520,470$14,325,774$48,949,566
90$59,067,228$20,416,077$14,744,792$53,626,786
91$65,029,272$21,353,652$15,175,929$58,770,258
92$71,597,465$22,335,188$15,619,530$64,427,147
93$78,833,573$23,362,780$16,075,951$70,649,419
94$86,805,660$24,438,617$16,545,557$77,494,322
95$95,588,727$25,565,000$17,028,724$85,024,927
96$105,265,427$26,744,335$17,525,836$93,310,724
97$115,926,840$27,979,147$18,037,291$102,428,271
98$127,673,335$29,272,081$18,563,497$112,461,918
99$140,615,513$30,625,911$19,104,872$123,504,600
100$154,875,257$32,043,543$19,661,847$135,658,710