Can I retire at age 59 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$734,954$728,407$722,020$715,786$709,698$699,960
2 years$363,838$357,062$350,495$344,128$337,952$328,158
3 years$240,150$233,344$226,794$220,486$214,410$204,865
4 years$178,317$171,533$165,048$158,848$152,919$143,696
5 years$141,228$134,484$128,084$122,010$116,247$107,373
6 years$116,509$109,816$103,511$97,573$91,982$83,468
7 years$98,860$92,223$86,018$80,220$74,806$66,654
8 years$85,629$79,052$72,950$67,294$62,059$54,269
9 years$75,344$68,829$62,832$57,320$52,263$44,831
10 years$67,121$60,670$54,778$49,410$44,530$37,451
11 years$60,397$54,011$48,226$43,002$38,298$31,564
12 years$54,798$48,477$42,799$37,718$33,188$26,793
13 years$50,064$43,809$38,238$33,300$28,940$22,875
14 years$46,010$39,821$34,357$29,560$25,369$19,623
15 years$42,499$36,377$31,020$26,362$22,337$16,902
16 years$39,430$33,376$28,124$23,604$19,741$14,606
17 years$36,726$30,738$25,592$21,208$17,504$12,659
18 years$34,324$28,403$23,362$19,113$15,564$10,997
19 years$32,178$26,324$21,387$17,270$13,872$9,573
20 years$30,248$24,461$19,628$15,642$12,391$8,349
21 years$28,505$22,785$18,054$14,196$11,089$7,292
22 years$26,922$21,269$16,639$12,907$9,939$6,377
23 years$25,479$19,892$15,363$11,755$8,922$5,584
24 years$24,159$18,638$14,209$10,721$8,019$4,894
25 years$22,946$17,490$13,160$9,791$7,216$4,293
26 years$21,828$16,438$12,205$8,952$6,500$3,769
27 years$20,794$15,470$11,334$8,194$5,860$3,310
28 years$19,836$14,578$10,536$7,508$5,288$2,910
29 years$18,946$13,752$9,805$6,885$4,775$2,559
30 years$18,117$12,988$9,133$6,319$4,314$2,251
31 years$17,342$12,278$8,514$5,803$3,901$1,981
32 years$16,618$11,617$7,944$5,333$3,528$1,744
33 years$15,939$11,002$7,417$4,904$3,193$1,536
34 years$15,301$10,427$6,930$4,512$2,891$1,353
35 years$14,701$9,890$6,479$4,154$2,619$1,192
36 years$14,135$9,387$6,061$3,826$2,373$1,051
37 years$13,602$8,915$5,673$3,525$2,150$926
38 years$13,097$8,473$5,313$3,249$1,949$817
39 years$12,620$8,057$4,977$2,996$1,768$720
40 years$12,168$7,665$4,665$2,763$1,604$635
41 years$11,739$7,297$4,375$2,549$1,455$560
42 years$11,331$6,949$4,104$2,353$1,320$494
43 years$10,943$6,621$3,851$2,172$1,198$436
44 years$10,574$6,311$3,614$2,005$1,087$384
45 years$10,223$6,018$3,394$1,852$987$339
46 years$9,888$5,741$3,188$1,711$896$299
47 years$9,568$5,479$2,995$1,580$814$264
48 years$9,262$5,230$2,814$1,460$739$233
49 years$8,969$4,995$2,645$1,350$671$205
50 years$8,690$4,771$2,487$1,248$610$181

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $8,900,000, adding $6,314 every year, while hoping to spend $35,189 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: 55/32/13 Blend
58$8,900,000$8,900,000$8,900,000$8,900,000
59$9,814,313$9,342,613$9,204,663$10,320,780
60$10,777,932$9,762,960$9,475,578$11,085,677
61$11,838,661$10,202,725$9,754,390$11,913,754
62$13,006,367$10,662,822$10,041,325$12,814,591
63$14,291,925$11,144,208$10,336,618$13,795,129
64$15,707,316$11,647,889$10,640,509$14,863,000
65$17,265,741$12,174,914$10,953,245$16,026,593
66$18,981,748$12,726,386$11,275,080$17,295,128
67$20,871,367$13,303,460$11,606,276$18,678,744
68$22,952,263$13,907,346$11,947,102$20,188,590
69$25,243,898$14,539,310$12,297,834$21,836,926
70$27,767,720$15,200,681$12,658,757$23,637,234
71$30,547,364$15,892,851$13,030,162$25,604,347
72$33,608,874$16,617,279$13,412,350$27,754,579
73$36,980,945$17,375,492$13,805,631$30,105,878
74$40,695,204$18,169,093$14,210,321$32,677,992
75$44,786,495$18,999,760$14,626,748$35,492,650
76$49,293,221$19,869,251$15,055,247$38,573,761
77$54,257,696$20,779,411$15,496,164$41,947,639
78$59,726,548$21,732,169$15,949,853$45,643,240
79$65,751,163$22,729,552$16,416,680$49,692,438
80$72,388,162$23,773,681$16,897,020$54,130,314
81$79,699,942$24,866,779$17,391,257$58,995,485
82$87,755,262$26,011,177$17,899,790$64,330,462
83$96,629,891$27,209,317$18,423,025$70,182,043
84$106,407,325$28,463,759$18,961,382$76,601,751
85$117,179,575$29,777,185$19,515,291$83,646,313
86$129,048,034$31,152,409$20,085,195$91,378,185
87$142,124,433$32,592,378$20,671,549$99,866,140
88$156,531,901$34,100,180$21,274,822$109,185,905
89$172,406,120$35,679,053$21,895,493$119,420,870
90$189,896,610$37,332,393$22,534,058$130,662,864
91$209,168,140$39,063,756$23,191,024$143,013,017
92$230,402,281$40,876,871$23,866,915$156,582,700
93$253,799,123$42,775,646$24,562,265$171,494,573
94$279,579,160$44,764,180$25,277,628$187,883,727
95$307,985,376$46,846,766$26,013,570$205,898,952
96$339,285,534$49,027,907$26,770,674$225,704,130
97$373,774,706$51,312,322$27,549,540$247,479,769
98$411,778,058$53,704,958$28,350,781$271,424,694
99$453,653,920$56,211,001$29,175,032$297,757,916
100$499,797,166$58,835,886$30,022,942$326,720,681