Can I retire at age 57 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%19.7%
1 years$693,664$687,485$681,457$675,573$669,828$643,760
2 years$343,398$337,003$330,804$324,795$318,966$293,018
3 years$226,658$220,235$214,052$208,099$202,365$177,354
4 years$168,299$161,896$155,775$149,924$144,328$120,444
5 years$133,293$126,928$120,888$115,156$109,716$87,020
6 years$109,964$103,647$97,695$92,091$86,815$65,322
7 years$93,306$87,042$81,185$75,713$70,604$50,307
8 years$80,819$74,611$68,852$63,514$58,572$39,452
9 years$71,111$64,963$59,302$54,100$49,326$31,354
10 years$63,350$57,261$51,701$46,634$42,029$25,169
11 years$57,004$50,976$45,517$40,586$36,146$20,362
12 years$51,719$45,754$40,395$35,599$31,323$16,573
13 years$47,251$41,348$36,090$31,429$27,315$13,554
14 years$43,425$37,584$32,427$27,899$23,944$11,128
15 years$40,111$34,334$29,277$24,881$21,082$9,164
16 years$37,215$31,501$26,544$22,278$18,632$7,566
17 years$34,662$29,011$24,154$20,017$16,521$6,259
18 years$32,396$26,807$22,050$18,039$14,689$5,187
19 years$30,370$24,845$20,185$16,300$13,093$4,304
20 years$28,549$23,087$18,525$14,763$11,695$3,576
21 years$26,904$21,505$17,040$13,398$10,466$2,974
22 years$25,410$20,074$15,705$12,182$9,381$2,475
23 years$24,048$18,775$14,500$11,094$8,421$2,061
24 years$22,802$17,591$13,410$10,119$7,569$1,717
25 years$21,656$16,508$12,421$9,241$6,811$1,431
26 years$20,601$15,515$11,520$8,449$6,135$1,193
27 years$19,626$14,601$10,697$7,734$5,531$996
28 years$18,722$13,759$9,944$7,086$4,991$831
29 years$17,882$12,980$9,254$6,498$4,507$693
30 years$17,099$12,258$8,620$5,964$4,072$579
31 years$16,368$11,588$8,036$5,477$3,682$483
32 years$15,684$10,964$7,498$5,034$3,330$403
33 years$15,043$10,383$7,001$4,629$3,014$337
34 years$14,441$9,841$6,541$4,259$2,729$281
35 years$13,875$9,334$6,115$3,921$2,471$235
36 years$13,341$8,860$5,721$3,611$2,239$196
37 years$12,837$8,415$5,354$3,327$2,030$164
38 years$12,361$7,997$5,014$3,066$1,840$137
39 years$11,911$7,604$4,698$2,827$1,669$114
40 years$11,484$7,235$4,403$2,608$1,513$95
41 years$11,079$6,887$4,129$2,406$1,373$80
42 years$10,694$6,559$3,873$2,221$1,246$67
43 years$10,329$6,249$3,634$2,050$1,131$56
44 years$9,980$5,957$3,411$1,893$1,026$46
45 years$9,649$5,680$3,203$1,748$932$39
46 years$9,332$5,419$3,009$1,615$846$32
47 years$9,030$5,171$2,826$1,492$768$27
48 years$8,741$4,937$2,656$1,378$698$23
49 years$8,465$4,714$2,497$1,274$634$19
50 years$8,201$4,503$2,347$1,177$575$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $8,400,000, adding $6,001 every year, while hoping to spend $59,402 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: 55/25/20 Blend
56$8,400,000$8,400,000$8,400,000$8,400,000
57$9,262,990$8,817,790$8,687,590$9,722,024
58$10,144,612$9,186,658$8,915,421$10,405,411
59$11,114,168$9,571,611$9,148,893$11,142,421
60$12,180,565$9,973,372$9,388,134$11,943,732
61$13,353,617$10,392,701$9,633,270$12,815,516
62$14,644,135$10,830,392$9,884,433$13,764,563
63$16,064,031$11,287,276$10,141,757$14,798,338
64$17,626,433$11,764,223$10,405,376$15,925,053
65$19,345,801$12,262,142$10,675,428$17,153,741
66$21,238,071$12,781,985$10,952,053$18,494,339
67$23,320,801$13,324,750$11,235,394$19,957,780
68$25,613,338$13,891,477$11,525,595$21,556,093
69$28,136,999$14,483,260$11,822,802$23,302,515
70$30,915,272$15,101,239$12,127,166$25,211,614
71$33,974,041$15,746,611$12,438,837$27,299,422
72$37,341,825$16,420,627$12,757,970$29,583,585
73$41,050,050$17,124,596$13,084,720$32,083,525
74$45,133,343$17,859,889$13,419,247$34,820,624
75$49,629,862$18,627,942$13,761,709$37,818,419
76$54,581,653$19,430,256$14,112,271$41,102,820
77$60,035,047$20,268,404$14,471,098$44,702,357
78$66,041,098$21,144,032$14,838,357$48,648,440
79$72,656,065$22,058,865$15,214,216$52,975,655
80$79,941,939$23,014,705$15,598,848$57,722,082
81$87,967,034$24,013,443$15,992,427$62,929,660
82$96,806,626$25,057,056$16,395,128$68,644,567
83$106,543,665$26,147,615$16,807,128$74,917,660
84$117,269,560$27,287,288$17,228,607$81,804,948
85$129,085,036$28,478,346$17,659,746$89,368,115
86$142,101,091$29,723,167$18,100,729$97,675,096
87$156,440,039$31,024,239$18,551,741$106,800,719
88$172,236,667$32,384,170$19,012,967$116,827,400
89$189,639,502$33,805,690$19,484,597$127,845,916
90$208,812,219$35,291,656$19,966,819$139,956,261
91$229,935,182$36,845,064$20,459,824$153,268,578
92$253,207,147$38,469,049$20,963,805$167,904,194
93$278,847,138$40,166,894$21,478,954$183,996,763
94$307,096,513$41,942,039$22,005,466$201,693,513
95$338,221,244$43,798,085$22,543,535$221,156,636
96$372,514,425$45,738,805$23,093,358$242,564,806
97$410,299,040$47,768,151$23,655,130$266,114,861
98$451,931,014$49,890,262$24,229,048$292,023,653
99$497,802,565$52,109,472$24,815,309$320,530,085
100$548,345,913$54,430,323$25,414,108$351,897,357