Can I retire at age 59 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$685,406$679,301$673,344$667,531$661,854$644,286
2 years$339,310$332,991$326,866$320,928$315,168$297,591
3 years$223,960$217,613$211,504$205,622$199,956$182,920
4 years$166,296$159,969$153,921$148,139$142,610$126,247
5 years$131,707$125,417$119,449$113,785$108,410$92,764
6 years$108,655$102,413$96,532$90,995$85,781$70,867
7 years$92,195$86,006$80,219$74,812$69,763$55,582
8 years$79,857$73,723$68,032$62,758$57,875$44,421
9 years$70,265$64,189$58,596$53,456$48,739$35,999
10 years$62,596$56,580$51,085$46,079$41,528$29,486
11 years$56,325$50,370$44,975$40,103$35,716$24,353
12 years$51,104$45,209$39,914$35,176$30,950$20,247
13 years$46,689$40,856$35,660$31,055$26,989$16,923
14 years$42,908$37,137$32,041$27,567$23,659$14,206
15 years$39,634$33,925$28,929$24,585$20,831$11,967
16 years$36,772$31,126$26,228$22,013$18,411$10,111
17 years$34,250$28,665$23,867$19,779$16,324$8,564
18 years$32,010$26,488$21,787$17,824$14,515$7,268
19 years$30,008$24,549$19,945$16,106$12,937$6,179
20 years$28,209$22,812$18,305$14,587$11,556$5,260
21 years$26,583$21,249$16,837$13,239$10,341$4,484
22 years$25,107$19,835$15,518$12,037$9,269$3,826
23 years$23,762$18,551$14,328$10,962$8,321$3,267
24 years$22,530$17,381$13,251$9,998$7,479$2,793
25 years$21,399$16,311$12,273$9,131$6,730$2,388
26 years$20,356$15,330$11,382$8,349$6,062$2,043
27 years$19,392$14,427$10,570$7,642$5,465$1,749
28 years$18,499$13,595$9,826$7,002$4,931$1,498
29 years$17,669$12,825$9,144$6,421$4,453$1,283
30 years$16,895$12,112$8,517$5,893$4,024$1,100
31 years$16,173$11,450$7,940$5,412$3,638$943
32 years$15,497$10,834$7,408$4,974$3,291$808
33 years$14,864$10,260$6,917$4,574$2,978$693
34 years$14,269$9,724$6,463$4,208$2,696$594
35 years$13,710$9,223$6,042$3,874$2,442$510
36 years$13,182$8,754$5,653$3,568$2,213$437
37 years$12,685$8,314$5,291$3,287$2,005$375
38 years$12,214$7,902$4,955$3,030$1,818$322
39 years$11,769$7,514$4,642$2,794$1,649$276
40 years$11,347$7,149$4,351$2,577$1,495$237
41 years$10,947$6,805$4,080$2,377$1,357$203
42 years$10,567$6,481$3,827$2,194$1,231$174
43 years$10,206$6,175$3,591$2,025$1,117$150
44 years$9,862$5,886$3,371$1,870$1,014$128
45 years$9,534$5,613$3,165$1,727$921$110
46 years$9,221$5,354$2,973$1,595$836$95
47 years$8,923$5,110$2,793$1,474$759$81
48 years$8,637$4,878$2,624$1,362$689$70
49 years$8,365$4,658$2,467$1,259$626$60
50 years$8,104$4,450$2,319$1,163$569$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $8,300,000, adding $6,599 every year, while hoping to spend $33,479 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: 66/9/25 Blend
58$8,300,000$8,300,000$8,300,000$8,300,000
59$9,153,407$8,713,507$8,584,857$9,697,665
60$10,051,433$9,104,847$8,836,828$10,456,266
61$11,039,936$9,514,241$9,096,118$11,280,958
62$12,128,108$9,942,538$9,362,938$12,181,876
63$13,326,080$10,390,628$9,637,501$13,166,525
64$14,645,014$10,859,442$9,920,031$14,243,170
65$16,097,209$11,349,959$10,210,756$15,420,908
66$17,696,218$11,863,200$10,509,909$16,709,753
67$19,456,974$12,400,238$10,817,733$18,120,730
68$21,395,933$12,962,197$11,134,474$19,665,978
69$23,531,227$13,550,254$11,460,389$21,358,862
70$25,882,838$14,165,643$11,795,738$23,214,099
71$28,472,784$14,809,655$12,140,791$25,247,895
72$31,325,325$15,483,646$12,495,825$27,478,096
73$34,467,198$16,189,035$12,861,125$29,924,353
74$37,927,863$16,927,308$13,236,983$32,608,311
75$41,739,783$17,700,024$13,623,700$35,553,806
76$45,938,733$18,508,817$14,021,586$38,787,091
77$50,564,132$19,355,397$14,430,957$42,337,081
78$55,659,421$20,241,559$14,852,142$46,235,625
79$61,272,469$21,169,182$15,285,475$50,517,803
80$67,456,024$22,140,236$15,731,302$55,222,256
81$74,268,216$23,156,785$16,189,978$60,391,549
82$81,773,099$24,220,992$16,661,868$66,072,570
83$90,041,260$25,335,126$17,147,346$72,316,967
84$99,150,484$26,501,563$17,646,797$79,181,641
85$109,186,487$27,722,793$18,160,618$86,729,270
86$120,243,725$29,001,426$18,689,216$95,028,908
87$132,426,289$30,340,200$19,233,008$104,156,628
88$145,848,882$31,741,981$19,792,425$114,196,237
89$160,637,905$33,209,776$20,367,909$125,240,069
90$176,932,651$34,746,734$20,959,913$137,389,848
91$194,886,615$36,356,158$21,568,904$150,757,647
92$214,668,950$38,041,509$22,195,362$165,466,944
93$236,466,055$39,806,415$22,839,779$181,653,783
94$260,483,342$41,654,679$23,502,661$199,468,053
95$286,947,171$43,590,287$24,184,529$219,074,902
96$316,106,989$45,617,417$24,885,917$240,656,290
97$348,237,682$47,740,450$25,607,374$264,412,701
98$383,642,170$49,963,977$26,349,466$290,565,038
99$422,654,269$52,292,810$27,112,771$319,356,694
100$465,641,842$54,731,994$27,897,886$351,055,854