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%19%
1 years$660,633$654,748$649,007$643,403$637,931$614,808
2 years$327,046$320,955$315,052$309,328$303,777$280,734
3 years$215,865$209,748$203,859$198,190$192,728$170,491
4 years$160,285$154,187$148,357$142,785$137,456$116,193
5 years$126,946$120,884$115,131$109,672$104,492$84,260
6 years$104,727$98,711$93,043$87,706$82,681$63,494
7 years$88,863$82,897$77,319$72,108$67,241$49,095
8 years$76,970$71,058$65,573$60,489$55,783$38,662
9 years$67,725$61,869$56,478$51,524$46,978$30,859
10 years$60,333$54,535$49,239$44,414$40,027$24,882
11 years$54,289$48,549$43,349$38,653$34,425$20,222
12 years$49,256$43,575$38,471$33,904$29,832$16,536
13 years$45,001$39,379$34,371$29,932$26,014$13,589
14 years$41,357$35,794$30,883$26,571$22,804$11,211
15 years$38,201$32,699$27,883$23,696$20,078$9,279
16 years$35,443$30,001$25,280$21,217$17,745$7,700
17 years$33,012$27,629$23,004$19,064$15,734$6,403
18 years$30,853$25,531$21,000$17,180$13,990$5,334
19 years$28,924$23,662$19,224$15,524$12,470$4,450
20 years$27,189$21,988$17,643$14,060$11,138$3,717
21 years$25,622$20,481$16,228$12,760$9,967$3,107
22 years$24,200$19,118$14,957$11,602$8,934$2,600
23 years$22,903$17,881$13,810$10,566$8,020$2,177
24 years$21,716$16,753$12,772$9,637$7,208$1,824
25 years$20,625$15,722$11,829$8,801$6,487$1,529
26 years$19,620$14,776$10,971$8,047$5,843$1,282
27 years$18,691$13,906$10,188$7,366$5,268$1,076
28 years$17,830$13,103$9,471$6,749$4,753$903
29 years$17,030$12,362$8,813$6,189$4,292$758
30 years$16,285$11,674$8,209$5,680$3,878$636
31 years$15,589$11,036$7,653$5,216$3,506$534
32 years$14,937$10,442$7,141$4,794$3,172$448
33 years$14,327$9,889$6,667$4,408$2,870$377
34 years$13,753$9,373$6,229$4,056$2,599$316
35 years$13,214$8,890$5,824$3,734$2,354$266
36 years$12,706$8,438$5,448$3,439$2,133$223
37 years$12,226$8,014$5,100$3,168$1,933$187
38 years$11,773$7,616$4,775$2,920$1,752$158
39 years$11,344$7,242$4,474$2,693$1,589$132
40 years$10,937$6,890$4,194$2,484$1,441$111
41 years$10,552$6,559$3,932$2,291$1,308$93
42 years$10,185$6,246$3,689$2,115$1,187$78
43 years$9,837$5,952$3,461$1,952$1,077$66
44 years$9,505$5,673$3,249$1,803$977$55
45 years$9,189$5,410$3,051$1,665$887$47
46 years$8,888$5,161$2,865$1,538$806$39
47 years$8,600$4,925$2,692$1,421$732$33
48 years$8,325$4,702$2,530$1,313$664$28
49 years$8,062$4,490$2,378$1,213$603$23
50 years$7,811$4,289$2,235$1,121$548$20

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 $4,840 every year, while hoping to spend $55,722 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: 41/48/11 Blend
69$8,000,000$8,000,000$8,000,000$8,000,000
70$8,820,992$8,396,992$8,272,992$9,153,725
71$9,661,446$8,749,157$8,490,850$9,739,985
72$10,585,758$9,116,711$8,714,138$10,368,191
73$11,602,424$9,500,348$8,942,980$11,046,859
74$12,720,802$9,900,796$9,177,501$11,780,597
75$13,951,205$10,318,817$9,417,829$12,574,463
76$15,304,996$10,755,206$9,664,093$13,434,006
77$16,794,692$11,210,797$9,916,427$14,365,317
78$18,434,087$11,686,463$10,174,964$15,375,083
79$20,238,381$12,183,117$10,439,842$16,470,646
80$22,224,318$12,701,712$10,711,200$17,660,071
81$24,410,353$13,243,251$10,989,179$18,952,212
82$26,816,817$13,808,777$11,273,924$20,356,802
83$29,466,113$14,399,388$11,565,581$21,884,530
84$32,382,927$15,016,229$11,864,299$23,547,143
85$35,594,462$15,660,501$12,170,230$25,357,555
86$39,130,690$16,333,458$12,483,525$27,329,957
87$43,024,640$17,036,417$12,804,343$29,479,953
88$47,312,705$17,770,753$13,132,840$31,824,696
89$52,034,989$18,537,908$13,469,178$34,383,051
90$57,235,681$19,339,389$13,813,519$37,175,762
91$62,963,478$20,176,777$14,166,030$40,225,644
92$69,272,038$21,051,723$14,526,876$43,557,793
93$76,220,488$21,965,960$14,896,229$47,199,816
94$83,873,986$22,921,300$15,274,261$51,182,083
95$92,304,329$23,919,640$15,661,145$55,538,011
96$101,590,635$24,962,968$16,057,058$60,304,367
97$111,820,090$26,053,364$16,462,180$65,521,611
98$123,088,767$27,193,006$16,876,690$71,234,270
99$135,502,533$28,384,175$17,300,772$77,491,345
100$149,178,054$29,629,262$17,734,610$84,346,773