Can I retire at age 64 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%18.7%
1 years$660,633$654,748$649,007$643,403$637,931$615,542
2 years$327,046$320,955$315,052$309,328$303,777$281,455
3 years$215,865$209,748$203,859$198,190$192,728$171,175
4 years$160,285$154,187$148,357$142,785$137,456$116,836
5 years$126,946$120,884$115,131$109,672$104,492$84,860
6 years$104,727$98,711$93,043$87,706$82,681$64,052
7 years$88,863$82,897$77,319$72,108$67,241$49,612
8 years$76,970$71,058$65,573$60,489$55,783$39,139
9 years$67,725$61,869$56,478$51,524$46,978$31,296
10 years$60,333$54,535$49,239$44,414$40,027$25,283
11 years$54,289$48,549$43,349$38,653$34,425$20,587
12 years$49,256$43,575$38,471$33,904$29,832$16,869
13 years$45,001$39,379$34,371$29,932$26,014$13,891
14 years$41,357$35,794$30,883$26,571$22,804$11,484
15 years$38,201$32,699$27,883$23,696$20,078$9,525
16 years$35,443$30,001$25,280$21,217$17,745$7,921
17 years$33,012$27,629$23,004$19,064$15,734$6,602
18 years$30,853$25,531$21,000$17,180$13,990$5,512
19 years$28,924$23,662$19,224$15,524$12,470$4,609
20 years$27,189$21,988$17,643$14,060$11,138$3,858
21 years$25,622$20,481$16,228$12,760$9,967$3,233
22 years$24,200$19,118$14,957$11,602$8,934$2,712
23 years$22,903$17,881$13,810$10,566$8,020$2,276
24 years$21,716$16,753$12,772$9,637$7,208$1,912
25 years$20,625$15,722$11,829$8,801$6,487$1,606
26 years$19,620$14,776$10,971$8,047$5,843$1,350
27 years$18,691$13,906$10,188$7,366$5,268$1,136
28 years$17,830$13,103$9,471$6,749$4,753$955
29 years$17,030$12,362$8,813$6,189$4,292$804
30 years$16,285$11,674$8,209$5,680$3,878$676
31 years$15,589$11,036$7,653$5,216$3,506$569
32 years$14,937$10,442$7,141$4,794$3,172$479
33 years$14,327$9,889$6,667$4,408$2,870$403
34 years$13,753$9,373$6,229$4,056$2,599$340
35 years$13,214$8,890$5,824$3,734$2,354$286
36 years$12,706$8,438$5,448$3,439$2,133$241
37 years$12,226$8,014$5,100$3,168$1,933$203
38 years$11,773$7,616$4,775$2,920$1,752$171
39 years$11,344$7,242$4,474$2,693$1,589$144
40 years$10,937$6,890$4,194$2,484$1,441$121
41 years$10,552$6,559$3,932$2,291$1,308$102
42 years$10,185$6,246$3,689$2,115$1,187$86
43 years$9,837$5,952$3,461$1,952$1,077$72
44 years$9,505$5,673$3,249$1,803$977$61
45 years$9,189$5,410$3,051$1,665$887$51
46 years$8,888$5,161$2,865$1,538$806$43
47 years$8,600$4,925$2,692$1,421$732$36
48 years$8,325$4,702$2,530$1,313$664$31
49 years$8,062$4,490$2,378$1,213$603$26
50 years$7,811$4,289$2,235$1,121$548$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,000,000, adding $3,603 every year, while hoping to spend $51,309 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: 49/29/22 Blend
63$8,000,000$8,000,000$8,000,000$8,000,000
64$8,819,716$8,395,716$8,271,716$9,197,006
65$9,664,735$8,752,514$8,494,227$9,816,605
66$10,594,226$9,125,075$8,722,471$10,483,867
67$11,616,751$9,514,118$8,956,588$11,207,719
68$12,741,744$9,920,394$9,196,718$11,993,516
69$13,979,599$10,344,691$9,443,005$12,847,141
70$15,341,769$10,787,831$9,695,596$13,775,064
71$16,840,871$11,250,677$9,954,641$14,784,395
72$18,490,811$11,734,131$10,220,292$15,882,950
73$20,306,908$12,239,137$10,492,706$17,079,326
74$22,306,043$12,766,685$10,772,042$18,382,974
75$24,506,816$13,317,810$11,058,463$19,804,291
76$26,929,724$13,893,595$11,352,133$21,354,712
77$29,597,348$14,495,174$11,653,223$23,046,814
78$32,534,576$15,123,736$11,961,904$24,894,437
79$35,768,827$15,780,523$12,278,352$26,912,804
80$39,330,318$16,466,839$12,602,747$29,118,669
81$43,252,342$17,184,045$12,935,270$31,530,467
82$47,571,587$17,933,570$13,276,109$34,168,485
83$52,328,483$18,716,909$13,625,452$37,055,051
84$57,567,576$19,535,625$13,983,492$40,214,741
85$63,337,957$20,391,359$14,350,428$43,674,606
86$69,693,719$21,285,826$14,726,458$47,464,423
87$76,694,471$22,220,824$15,111,786$51,616,973
88$84,405,897$23,198,234$15,506,621$56,168,344
89$92,900,379$24,220,028$15,911,173$61,158,268
90$102,257,678$25,288,270$16,325,658$66,630,493
91$112,565,688$26,405,122$16,750,294$72,633,187
92$123,921,263$27,572,848$17,185,304$79,219,388
93$136,431,134$28,793,820$17,630,914$86,447,502
94$150,212,913$30,070,521$18,087,353$94,381,847
95$165,396,207$31,405,553$18,554,856$103,093,251
96$182,123,837$32,801,642$19,033,661$112,659,718
97$200,553,187$34,261,641$19,524,007$123,167,157
98$220,857,691$35,788,541$20,026,141$134,710,183
99$243,228,470$37,385,473$20,540,310$147,393,008
100$267,876,131$39,055,719$21,066,768$161,330,412