Can I retire at age 73 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%11.3%
1 years$660,633$654,748$649,007$643,403$637,931$634,443
2 years$327,046$320,955$315,052$309,328$303,777$300,257
3 years$215,865$209,748$203,859$198,190$192,728$189,286
4 years$160,285$154,187$148,357$142,785$137,456$134,117
5 years$126,946$120,884$115,131$109,672$104,492$101,267
6 years$104,727$98,711$93,043$87,706$82,681$79,574
7 years$88,863$82,897$77,319$72,108$67,241$64,254
8 years$76,970$71,058$65,573$60,489$55,783$52,916
9 years$67,725$61,869$56,478$51,524$46,978$44,229
10 years$60,333$54,535$49,239$44,414$40,027$37,396
11 years$54,289$48,549$43,349$38,653$34,425$31,909
12 years$49,256$43,575$38,471$33,904$29,832$27,430
13 years$45,001$39,379$34,371$29,932$26,014$23,724
14 years$41,357$35,794$30,883$26,571$22,804$20,622
15 years$38,201$32,699$27,883$23,696$20,078$18,003
16 years$35,443$30,001$25,280$21,217$17,745$15,773
17 years$33,012$27,629$23,004$19,064$15,734$13,862
18 years$30,853$25,531$21,000$17,180$13,990$12,215
19 years$28,924$23,662$19,224$15,524$12,470$10,788
20 years$27,189$21,988$17,643$14,060$11,138$9,547
21 years$25,622$20,481$16,228$12,760$9,967$8,463
22 years$24,200$19,118$14,957$11,602$8,934$7,514
23 years$22,903$17,881$13,810$10,566$8,020$6,680
24 years$21,716$16,753$12,772$9,637$7,208$5,945
25 years$20,625$15,722$11,829$8,801$6,487$5,297
26 years$19,620$14,776$10,971$8,047$5,843$4,724
27 years$18,691$13,906$10,188$7,366$5,268$4,216
28 years$17,830$13,103$9,471$6,749$4,753$3,766
29 years$17,030$12,362$8,813$6,189$4,292$3,365
30 years$16,285$11,674$8,209$5,680$3,878$3,009
31 years$15,589$11,036$7,653$5,216$3,506$2,692
32 years$14,937$10,442$7,141$4,794$3,172$2,410
33 years$14,327$9,889$6,667$4,408$2,870$2,158
34 years$13,753$9,373$6,229$4,056$2,599$1,933
35 years$13,214$8,890$5,824$3,734$2,354$1,732
36 years$12,706$8,438$5,448$3,439$2,133$1,552
37 years$12,226$8,014$5,100$3,168$1,933$1,392
38 years$11,773$7,616$4,775$2,920$1,752$1,248
39 years$11,344$7,242$4,474$2,693$1,589$1,119
40 years$10,937$6,890$4,194$2,484$1,441$1,004
41 years$10,552$6,559$3,932$2,291$1,308$901
42 years$10,185$6,246$3,689$2,115$1,187$808
43 years$9,837$5,952$3,461$1,952$1,077$725
44 years$9,505$5,673$3,249$1,803$977$651
45 years$9,189$5,410$3,051$1,665$887$584
46 years$8,888$5,161$2,865$1,538$806$525
47 years$8,600$4,925$2,692$1,421$732$471
48 years$8,325$4,702$2,530$1,313$664$423
49 years$8,062$4,490$2,378$1,213$603$380
50 years$7,811$4,289$2,235$1,121$548$341

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 $2,502 every year, while hoping to spend $53,773 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: 82/6/12 Blend
72$8,000,000$8,000,000$8,000,000$8,000,000
73$8,818,581$8,394,581$8,270,581$9,522,661
74$9,660,862$8,748,701$8,490,431$10,338,751
75$10,587,254$9,118,371$8,715,844$11,227,262
76$11,606,278$9,504,296$8,946,950$12,201,214
77$12,727,326$9,907,214$9,183,880$13,269,154
78$13,960,742$10,327,896$9,426,769$14,440,499
79$15,317,927$10,767,152$9,675,755$15,725,616
80$16,811,439$11,225,827$9,930,977$17,135,926
81$18,455,120$11,704,806$10,192,578$18,684,009
82$20,264,216$12,205,016$10,460,703$20,383,720
83$22,255,531$12,727,426$10,735,501$22,250,321
84$24,447,577$13,273,052$11,017,123$24,300,626
85$26,860,754$13,842,956$11,305,721$26,553,154
86$29,517,540$14,438,250$11,601,452$29,028,306
87$32,442,704$15,060,099$11,904,475$31,748,558
88$35,663,537$15,709,721$12,214,952$34,738,669
89$39,210,113$16,388,392$12,533,048$38,025,915
90$43,115,570$17,097,449$12,858,931$41,640,346
91$47,416,423$17,838,289$13,192,770$45,615,068
92$52,152,910$18,612,377$13,534,740$49,986,556
93$57,369,369$19,421,246$13,885,016$54,794,994
94$63,114,658$20,266,500$14,243,777$60,084,655
95$69,442,616$21,149,821$14,611,206$65,904,319
96$76,412,568$22,072,967$14,987,486$72,307,729
97$84,089,889$23,037,783$15,372,807$79,354,100
98$92,546,620$24,046,196$15,767,358$87,108,675
99$101,862,143$25,100,227$16,171,332$95,643,339
100$112,123,936$26,201,993$16,584,927$105,037,300