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

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$660,633$654,748$649,007$643,403$637,931$613,347
2 years$327,046$320,955$315,052$309,328$303,777$279,302
3 years$215,865$209,748$203,859$198,190$192,728$169,133
4 years$160,285$154,187$148,357$142,785$137,456$114,919
5 years$126,946$120,884$115,131$109,672$104,492$83,072
6 years$104,727$98,711$93,043$87,706$82,681$62,393
7 years$88,863$82,897$77,319$72,108$67,241$48,079
8 years$76,970$71,058$65,573$60,489$55,783$37,727
9 years$67,725$61,869$56,478$51,524$46,978$30,001
10 years$60,333$54,535$49,239$44,414$40,027$24,099
11 years$54,289$48,549$43,349$38,653$34,425$19,509
12 years$49,256$43,575$38,471$33,904$29,832$15,889
13 years$45,001$39,379$34,371$29,932$26,014$13,004
14 years$41,357$35,794$30,883$26,571$22,804$10,683
15 years$38,201$32,699$27,883$23,696$20,078$8,804
16 years$35,443$30,001$25,280$21,217$17,745$7,274
17 years$33,012$27,629$23,004$19,064$15,734$6,022
18 years$30,853$25,531$21,000$17,180$13,990$4,994
19 years$28,924$23,662$19,224$15,524$12,470$4,148
20 years$27,189$21,988$17,643$14,060$11,138$3,448
21 years$25,622$20,481$16,228$12,760$9,967$2,870
22 years$24,200$19,118$14,957$11,602$8,934$2,390
23 years$22,903$17,881$13,810$10,566$8,020$1,992
24 years$21,716$16,753$12,772$9,637$7,208$1,661
25 years$20,625$15,722$11,829$8,801$6,487$1,386
26 years$19,620$14,776$10,971$8,047$5,843$1,156
27 years$18,691$13,906$10,188$7,366$5,268$965
28 years$17,830$13,103$9,471$6,749$4,753$806
29 years$17,030$12,362$8,813$6,189$4,292$673
30 years$16,285$11,674$8,209$5,680$3,878$562
31 years$15,589$11,036$7,653$5,216$3,506$470
32 years$14,937$10,442$7,141$4,794$3,172$393
33 years$14,327$9,889$6,667$4,408$2,870$328
34 years$13,753$9,373$6,229$4,056$2,599$274
35 years$13,214$8,890$5,824$3,734$2,354$229
36 years$12,706$8,438$5,448$3,439$2,133$192
37 years$12,226$8,014$5,100$3,168$1,933$160
38 years$11,773$7,616$4,775$2,920$1,752$134
39 years$11,344$7,242$4,474$2,693$1,589$112
40 years$10,937$6,890$4,194$2,484$1,441$94
41 years$10,552$6,559$3,932$2,291$1,308$78
42 years$10,185$6,246$3,689$2,115$1,187$65
43 years$9,837$5,952$3,461$1,952$1,077$55
44 years$9,505$5,673$3,249$1,803$977$46
45 years$9,189$5,410$3,051$1,665$887$38
46 years$8,888$5,161$2,865$1,538$806$32
47 years$8,600$4,925$2,692$1,421$732$27
48 years$8,325$4,702$2,530$1,313$664$22
49 years$8,062$4,490$2,378$1,213$603$19
50 years$7,811$4,289$2,235$1,121$548$16

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 $4,067 every year, while hoping to spend $34,529 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: 44/43/13 Blend
69$8,000,000$8,000,000$8,000,000$8,000,000
70$8,820,195$8,396,195$8,272,195$9,175,124
71$9,683,116$8,770,870$8,512,575$9,797,716
72$10,632,898$9,162,747$8,759,850$10,468,314
73$11,678,365$9,572,632$9,014,216$11,194,386
74$12,829,237$10,001,370$9,275,871$11,981,053
75$14,096,228$10,449,846$9,545,022$12,833,937
76$15,491,142$10,918,987$9,821,879$13,759,207
77$17,026,986$11,409,765$10,106,659$14,763,639
78$18,718,092$11,923,197$10,399,586$15,854,671
79$20,580,253$12,460,350$10,700,888$17,040,471
80$22,630,872$13,022,339$11,010,800$18,330,014
81$24,889,123$13,610,337$11,329,565$19,733,158
82$27,376,138$14,225,568$11,657,430$21,260,736
83$30,115,201$14,869,317$11,994,650$22,924,650
84$33,131,970$15,542,932$12,341,489$24,737,986
85$36,454,716$16,247,821$12,698,215$26,715,123
86$40,114,597$16,985,464$13,065,104$28,871,874
87$44,145,942$17,757,408$13,442,442$31,225,620
88$48,586,584$18,565,277$13,830,519$33,795,478
89$53,478,210$19,410,770$14,229,637$36,602,467
90$58,866,760$20,295,670$14,640,102$39,669,710
91$64,802,856$21,221,845$15,062,232$43,022,635
92$71,342,282$22,191,250$15,496,351$46,689,219
93$78,546,510$23,205,936$15,942,794$50,700,237
94$86,483,279$24,268,052$16,401,903$55,089,551
95$95,227,237$25,379,850$16,874,030$59,894,419
96$104,860,643$26,543,690$17,359,537$65,155,840
97$115,474,143$27,762,046$17,858,796$70,918,932
98$127,167,628$29,037,509$18,372,189$77,233,351
99$140,051,176$30,372,795$18,900,106$84,153,750
100$154,246,087$31,770,754$19,442,951$91,740,283