Can I retire at age 60 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$660,633$654,748$649,007$643,403$637,931$628,139
2 years$327,046$320,955$315,052$309,328$303,777$293,935
3 years$215,865$209,748$203,859$198,190$192,728$183,143
4 years$160,285$154,187$148,357$142,785$137,456$128,201
5 years$126,946$120,884$115,131$109,672$104,492$95,594
6 years$104,727$98,711$93,043$87,706$82,681$74,151
7 years$88,863$82,897$77,319$72,108$67,241$59,082
8 years$76,970$71,058$65,573$60,489$55,783$47,993
9 years$67,725$61,869$56,478$51,524$46,978$39,552
10 years$60,333$54,535$49,239$44,414$40,027$32,961
11 years$54,289$48,549$43,349$38,653$34,425$27,711
12 years$49,256$43,575$38,471$33,904$29,832$23,461
13 years$45,001$39,379$34,371$29,932$26,014$19,978
14 years$41,357$35,794$30,883$26,571$22,804$17,093
15 years$38,201$32,699$27,883$23,696$20,078$14,682
16 years$35,443$30,001$25,280$21,217$17,745$12,653
17 years$33,012$27,629$23,004$19,064$15,734$10,934
18 years$30,853$25,531$21,000$17,180$13,990$9,472
19 years$28,924$23,662$19,224$15,524$12,470$8,222
20 years$27,189$21,988$17,643$14,060$11,138$7,149
21 years$25,622$20,481$16,228$12,760$9,967$6,225
22 years$24,200$19,118$14,957$11,602$8,934$5,428
23 years$22,903$17,881$13,810$10,566$8,020$4,738
24 years$21,716$16,753$12,772$9,637$7,208$4,139
25 years$20,625$15,722$11,829$8,801$6,487$3,620
26 years$19,620$14,776$10,971$8,047$5,843$3,167
27 years$18,691$13,906$10,188$7,366$5,268$2,773
28 years$17,830$13,103$9,471$6,749$4,753$2,430
29 years$17,030$12,362$8,813$6,189$4,292$2,130
30 years$16,285$11,674$8,209$5,680$3,878$1,868
31 years$15,589$11,036$7,653$5,216$3,506$1,638
32 years$14,937$10,442$7,141$4,794$3,172$1,438
33 years$14,327$9,889$6,667$4,408$2,870$1,262
34 years$13,753$9,373$6,229$4,056$2,599$1,108
35 years$13,214$8,890$5,824$3,734$2,354$973
36 years$12,706$8,438$5,448$3,439$2,133$854
37 years$12,226$8,014$5,100$3,168$1,933$751
38 years$11,773$7,616$4,775$2,920$1,752$659
39 years$11,344$7,242$4,474$2,693$1,589$579
40 years$10,937$6,890$4,194$2,484$1,441$509
41 years$10,552$6,559$3,932$2,291$1,308$448
42 years$10,185$6,246$3,689$2,115$1,187$393
43 years$9,837$5,952$3,461$1,952$1,077$346
44 years$9,505$5,673$3,249$1,803$977$304
45 years$9,189$5,410$3,051$1,665$887$267
46 years$8,888$5,161$2,865$1,538$806$235
47 years$8,600$4,925$2,692$1,421$732$207
48 years$8,325$4,702$2,530$1,313$664$182
49 years$8,062$4,490$2,378$1,213$603$160
50 years$7,811$4,289$2,235$1,121$548$140

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,000,000, adding $3,162 every year, while hoping to spend $55,589 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: 56/29/15 Blend
59$8,000,000$8,000,000$8,000,000$8,000,000
60$8,819,262$8,395,262$8,271,262$9,278,469
61$9,659,680$8,747,483$8,489,203$9,942,808
62$10,583,958$9,115,100$8,712,582$10,659,803
63$11,600,591$9,498,809$8,941,522$11,439,554
64$12,718,937$9,899,337$9,176,149$12,288,077
65$13,949,311$10,317,447$9,416,592$13,211,989
66$15,303,073$10,753,934$9,662,980$14,218,564
67$16,792,743$11,209,634$9,915,447$15,315,802
68$18,432,116$11,685,419$10,174,127$16,512,504
69$20,236,389$12,182,202$10,439,159$17,818,347
70$22,222,311$12,700,940$10,710,681$19,243,979
71$24,408,334$13,242,633$10,988,836$20,801,115
72$26,814,791$13,808,329$11,273,768$22,502,644
73$29,464,086$14,399,123$11,565,625$24,362,747
74$32,380,905$15,016,163$11,864,557$26,397,033
75$35,592,452$15,660,649$12,170,714$28,622,677
76$39,128,701$16,333,840$12,484,251$31,058,583
77$43,022,680$17,037,050$12,805,325$33,725,560
78$47,310,785$17,771,657$13,134,095$36,646,512
79$52,033,120$18,539,103$13,470,723$39,846,651
80$57,233,877$19,340,898$13,815,371$43,353,734
81$62,961,753$20,178,622$14,168,206$47,198,319
82$69,270,408$21,053,931$14,529,397$51,414,052
83$76,218,972$21,968,556$14,899,115$56,037,977
84$83,872,604$22,924,312$15,277,531$61,110,882
85$92,303,104$23,923,097$15,664,823$66,677,683
86$101,589,593$24,966,902$16,061,167$72,787,839
87$111,819,258$26,057,807$16,466,743$79,495,818
88$123,088,177$27,197,994$16,881,733$86,861,602
89$135,502,221$28,389,745$17,306,321$94,951,249
90$149,178,057$29,635,452$17,740,693$103,837,516
91$164,244,249$30,937,619$18,185,036$113,600,530
92$180,842,468$32,298,869$18,639,541$124,328,549
93$199,128,833$33,721,947$19,104,398$136,118,782
94$219,275,381$35,209,729$19,579,802$149,078,301
95$241,471,692$36,765,227$20,065,948$163,325,047
96$265,926,678$38,391,598$20,563,031$178,988,935
97$292,870,557$40,092,144$21,071,250$196,213,073
98$322,557,021$41,870,326$21,590,805$215,155,103
99$355,265,635$43,729,770$22,121,894$235,988,685
100$391,304,474$45,674,272$22,664,721$258,905,123