Can I retire at age 73 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%11.2%
1 years$660,633$654,748$649,007$643,403$637,931$634,709
2 years$327,046$320,955$315,052$309,328$303,777$300,525
3 years$215,865$209,748$203,859$198,190$192,728$189,548
4 years$160,285$154,187$148,357$142,785$137,456$134,370
5 years$126,946$120,884$115,131$109,672$104,492$101,511
6 years$104,727$98,711$93,043$87,706$82,681$79,808
7 years$88,863$82,897$77,319$72,108$67,241$64,479
8 years$76,970$71,058$65,573$60,489$55,783$53,131
9 years$67,725$61,869$56,478$51,524$46,978$44,435
10 years$60,333$54,535$49,239$44,414$40,027$37,593
11 years$54,289$48,549$43,349$38,653$34,425$32,097
12 years$49,256$43,575$38,471$33,904$29,832$27,608
13 years$45,001$39,379$34,371$29,932$26,014$23,893
14 years$41,357$35,794$30,883$26,571$22,804$20,783
15 years$38,201$32,699$27,883$23,696$20,078$18,155
16 years$35,443$30,001$25,280$21,217$17,745$15,917
17 years$33,012$27,629$23,004$19,064$15,734$13,998
18 years$30,853$25,531$21,000$17,180$13,990$12,344
19 years$28,924$23,662$19,224$15,524$12,470$10,910
20 years$27,189$21,988$17,643$14,060$11,138$9,661
21 years$25,622$20,481$16,228$12,760$9,967$8,571
22 years$24,200$19,118$14,957$11,602$8,934$7,615
23 years$22,903$17,881$13,810$10,566$8,020$6,775
24 years$21,716$16,753$12,772$9,637$7,208$6,035
25 years$20,625$15,722$11,829$8,801$6,487$5,381
26 years$19,620$14,776$10,971$8,047$5,843$4,802
27 years$18,691$13,906$10,188$7,366$5,268$4,290
28 years$17,830$13,103$9,471$6,749$4,753$3,834
29 years$17,030$12,362$8,813$6,189$4,292$3,429
30 years$16,285$11,674$8,209$5,680$3,878$3,069
31 years$15,589$11,036$7,653$5,216$3,506$2,748
32 years$14,937$10,442$7,141$4,794$3,172$2,462
33 years$14,327$9,889$6,667$4,408$2,870$2,206
34 years$13,753$9,373$6,229$4,056$2,599$1,978
35 years$13,214$8,890$5,824$3,734$2,354$1,773
36 years$12,706$8,438$5,448$3,439$2,133$1,591
37 years$12,226$8,014$5,100$3,168$1,933$1,427
38 years$11,773$7,616$4,775$2,920$1,752$1,281
39 years$11,344$7,242$4,474$2,693$1,589$1,150
40 years$10,937$6,890$4,194$2,484$1,441$1,032
41 years$10,552$6,559$3,932$2,291$1,308$927
42 years$10,185$6,246$3,689$2,115$1,187$833
43 years$9,837$5,952$3,461$1,952$1,077$748
44 years$9,505$5,673$3,249$1,803$977$672
45 years$9,189$5,410$3,051$1,665$887$604
46 years$8,888$5,161$2,865$1,538$806$542
47 years$8,600$4,925$2,692$1,421$732$487
48 years$8,325$4,702$2,530$1,313$664$438
49 years$8,062$4,490$2,378$1,213$603$394
50 years$7,811$4,289$2,235$1,121$548$354

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 73 starting with $8,000,000, adding $3,556 every year, while hoping to spend $43,988 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: 71/12/17 Blend
72$8,000,000$8,000,000$8,000,000$8,000,000
73$8,819,668$8,395,668$8,271,668$9,410,514
74$9,672,471$8,760,253$8,501,966$10,168,360
75$10,610,786$9,141,228$8,738,505$10,992,156
76$11,643,288$9,539,350$8,981,447$11,892,933
77$12,779,537$9,955,412$9,230,959$12,878,301
78$14,030,066$10,390,243$9,487,211$13,956,634
79$15,406,479$10,844,711$9,750,379$15,137,153
80$16,921,564$11,319,726$10,020,642$16,430,009
81$18,589,413$11,816,242$10,298,182$17,846,380
82$20,425,550$12,335,255$10,583,188$19,398,572
83$22,447,084$12,877,810$10,875,853$21,100,136
84$24,672,865$13,445,002$11,176,373$22,965,994
85$27,123,666$14,037,975$11,484,950$25,012,577
86$29,822,375$14,657,931$11,801,790$27,257,982
87$32,794,213$15,306,125$12,127,106$29,722,138
88$36,066,972$15,983,875$12,461,113$32,426,994
89$39,671,276$16,692,558$12,804,034$35,396,724
90$43,640,872$17,433,619$13,156,095$38,657,952
91$48,012,945$18,208,571$13,517,529$42,240,006
92$52,828,472$19,018,997$13,888,572$46,175,188
93$58,132,606$19,866,558$14,269,469$50,499,077
94$63,975,105$20,752,992$14,660,469$55,250,869
95$70,410,796$21,680,119$15,061,826$60,473,736
96$77,500,101$22,649,848$15,473,800$66,215,239
97$85,309,597$23,664,177$15,896,659$72,527,768
98$93,912,654$24,725,200$16,330,675$79,469,040
99$103,390,119$25,835,109$16,776,127$87,102,638
100$113,831,084$26,996,203$17,233,300$95,498,609