Can I retire at age 55 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$693,664$687,485$681,457$675,573$669,828$643,506
2 years$343,398$337,003$330,804$324,795$318,966$292,769
3 years$226,658$220,235$214,052$208,099$202,365$177,118
4 years$168,299$161,896$155,775$149,924$144,328$120,223
5 years$133,293$126,928$120,888$115,156$109,716$86,815
6 years$109,964$103,647$97,695$92,091$86,815$65,132
7 years$93,306$87,042$81,185$75,713$70,604$50,132
8 years$80,819$74,611$68,852$63,514$58,572$39,291
9 years$71,111$64,963$59,302$54,100$49,326$31,207
10 years$63,350$57,261$51,701$46,634$42,029$25,036
11 years$57,004$50,976$45,517$40,586$36,146$20,241
12 years$51,719$45,754$40,395$35,599$31,323$16,463
13 years$47,251$41,348$36,090$31,429$27,315$13,455
14 years$43,425$37,584$32,427$27,899$23,944$11,038
15 years$40,111$34,334$29,277$24,881$21,082$9,084
16 years$37,215$31,501$26,544$22,278$18,632$7,494
17 years$34,662$29,011$24,154$20,017$16,521$6,195
18 years$32,396$26,807$22,050$18,039$14,689$5,130
19 years$30,370$24,845$20,185$16,300$13,093$4,254
20 years$28,549$23,087$18,525$14,763$11,695$3,531
21 years$26,904$21,505$17,040$13,398$10,466$2,934
22 years$25,410$20,074$15,705$12,182$9,381$2,440
23 years$24,048$18,775$14,500$11,094$8,421$2,030
24 years$22,802$17,591$13,410$10,119$7,569$1,690
25 years$21,656$16,508$12,421$9,241$6,811$1,408
26 years$20,601$15,515$11,520$8,449$6,135$1,173
27 years$19,626$14,601$10,697$7,734$5,531$978
28 years$18,722$13,759$9,944$7,086$4,991$815
29 years$17,882$12,980$9,254$6,498$4,507$680
30 years$17,099$12,258$8,620$5,964$4,072$567
31 years$16,368$11,588$8,036$5,477$3,682$473
32 years$15,684$10,964$7,498$5,034$3,330$394
33 years$15,043$10,383$7,001$4,629$3,014$329
34 years$14,441$9,841$6,541$4,259$2,729$275
35 years$13,875$9,334$6,115$3,921$2,471$229
36 years$13,341$8,860$5,721$3,611$2,239$191
37 years$12,837$8,415$5,354$3,327$2,030$160
38 years$12,361$7,997$5,014$3,066$1,840$133
39 years$11,911$7,604$4,698$2,827$1,669$111
40 years$11,484$7,235$4,403$2,608$1,513$93
41 years$11,079$6,887$4,129$2,406$1,373$77
42 years$10,694$6,559$3,873$2,221$1,246$65
43 years$10,329$6,249$3,634$2,050$1,131$54
44 years$9,980$5,957$3,411$1,893$1,026$45
45 years$9,649$5,680$3,203$1,748$932$38
46 years$9,332$5,419$3,009$1,615$846$31
47 years$9,030$5,171$2,826$1,492$768$26
48 years$8,741$4,937$2,656$1,378$698$22
49 years$8,465$4,714$2,497$1,274$634$18
50 years$8,201$4,503$2,347$1,177$575$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $8,400,000, adding $5,989 every year, while hoping to spend $35,181 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: 35/49/16 Blend
54$8,400,000$8,400,000$8,400,000$8,400,000
55$9,262,978$8,817,778$8,687,578$9,541,332
56$10,170,369$9,212,416$8,941,179$10,138,935
57$11,169,135$9,625,213$9,202,097$10,779,563
58$12,268,559$10,057,021$9,470,540$11,470,033
59$13,478,870$10,508,733$9,746,721$12,214,785
60$14,811,339$10,981,285$10,030,859$13,018,684
61$16,278,384$11,475,656$10,323,182$13,887,060
62$17,893,691$11,992,875$10,623,921$14,825,760
63$19,672,339$12,534,018$10,933,313$15,841,191
64$21,630,944$13,100,211$11,251,606$16,940,382
65$23,787,816$13,692,637$11,579,050$18,131,045
66$26,163,130$14,312,533$11,915,905$19,421,640
67$28,779,118$14,961,196$12,262,437$20,821,453
68$31,660,278$15,639,985$12,618,919$22,340,676
69$34,833,606$16,350,324$12,985,632$23,990,501
70$38,328,849$17,093,704$13,362,866$25,783,216
71$42,178,786$17,871,691$13,750,916$27,732,316
72$46,419,539$18,685,920$14,150,089$29,852,626
73$51,090,913$19,538,111$14,560,697$32,160,433
74$56,236,769$20,430,061$14,983,063$34,673,633
75$61,905,441$21,363,656$15,417,518$37,411,893
76$68,150,193$22,340,872$15,864,401$40,396,827
77$75,029,716$23,363,778$16,324,063$43,652,196
78$82,608,690$24,434,546$16,796,861$47,204,120
79$90,958,386$25,555,448$17,283,166$51,081,320
80$100,157,344$26,728,868$17,783,355$55,315,376
81$110,292,114$27,957,304$18,297,819$59,941,018
82$121,458,071$29,243,373$18,826,956$64,996,445
83$133,760,314$30,589,818$19,371,179$70,523,671
84$147,314,662$31,999,515$19,930,910$76,568,916
85$162,248,743$33,475,477$20,506,581$83,183,026
86$178,703,203$35,020,863$21,098,639$90,421,946
87$196,833,027$36,638,983$21,707,541$98,347,232
88$216,809,010$38,333,307$22,333,758$107,026,619
89$238,819,361$40,107,472$22,977,771$116,534,652
90$263,071,488$41,965,289$23,640,078$126,953,366
91$289,793,946$43,910,755$24,321,187$138,373,056
92$319,238,604$45,948,058$25,021,623$150,893,106
93$351,683,016$48,081,587$25,741,922$164,622,914
94$387,433,044$50,315,945$26,482,636$179,682,907
95$426,825,742$52,655,954$27,244,332$196,205,663
96$470,232,543$55,106,671$28,027,593$214,337,136
97$518,062,762$57,673,397$28,833,016$234,238,024
98$570,767,457$60,361,687$29,661,215$256,085,258
99$628,843,693$63,177,365$30,512,822$280,073,653
100$692,839,231$66,126,538$31,388,483$306,417,727