Can I retire at age 64 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%13%
1 years$685,406$679,301$673,344$667,531$661,854$653,583
2 years$339,310$332,991$326,866$320,928$315,168$306,847
3 years$223,960$217,613$211,504$205,622$199,956$191,841
4 years$166,296$159,969$153,921$148,139$142,610$134,765
5 years$131,707$125,417$119,449$113,785$108,410$100,857
6 years$108,655$102,413$96,532$90,995$85,781$78,530
7 years$92,195$86,006$80,219$74,812$69,763$62,816
8 years$79,857$73,723$68,032$62,758$57,875$51,232
9 years$70,265$64,189$58,596$53,456$48,739$42,397
10 years$62,596$56,580$51,085$46,079$41,528$35,483
11 years$56,325$50,370$44,975$40,103$35,716$29,961
12 years$51,104$45,209$39,914$35,176$30,950$25,481
13 years$46,689$40,856$35,660$31,055$26,989$21,797
14 years$42,908$37,137$32,041$27,567$23,659$18,737
15 years$39,634$33,925$28,929$24,585$20,831$16,171
16 years$36,772$31,126$26,228$22,013$18,411$14,004
17 years$34,250$28,665$23,867$19,779$16,324$12,162
18 years$32,010$26,488$21,787$17,824$14,515$10,589
19 years$30,008$24,549$19,945$16,106$12,937$9,238
20 years$28,209$22,812$18,305$14,587$11,556$8,074
21 years$26,583$21,249$16,837$13,239$10,341$7,068
22 years$25,107$19,835$15,518$12,037$9,269$6,196
23 years$23,762$18,551$14,328$10,962$8,321$5,437
24 years$22,530$17,381$13,251$9,998$7,479$4,777
25 years$21,399$16,311$12,273$9,131$6,730$4,200
26 years$20,356$15,330$11,382$8,349$6,062$3,696
27 years$19,392$14,427$10,570$7,642$5,465$3,254
28 years$18,499$13,595$9,826$7,002$4,931$2,867
29 years$17,669$12,825$9,144$6,421$4,453$2,528
30 years$16,895$12,112$8,517$5,893$4,024$2,229
31 years$16,173$11,450$7,940$5,412$3,638$1,967
32 years$15,497$10,834$7,408$4,974$3,291$1,736
33 years$14,864$10,260$6,917$4,574$2,978$1,533
34 years$14,269$9,724$6,463$4,208$2,696$1,353
35 years$13,710$9,223$6,042$3,874$2,442$1,196
36 years$13,182$8,754$5,653$3,568$2,213$1,056
37 years$12,685$8,314$5,291$3,287$2,005$933
38 years$12,214$7,902$4,955$3,030$1,818$825
39 years$11,769$7,514$4,642$2,794$1,649$729
40 years$11,347$7,149$4,351$2,577$1,495$645
41 years$10,947$6,805$4,080$2,377$1,357$570
42 years$10,567$6,481$3,827$2,194$1,231$504
43 years$10,206$6,175$3,591$2,025$1,117$446
44 years$9,862$5,886$3,371$1,870$1,014$394
45 years$9,534$5,613$3,165$1,727$921$349
46 years$9,221$5,354$2,973$1,595$836$308
47 years$8,923$5,110$2,793$1,474$759$273
48 years$8,637$4,878$2,624$1,362$689$241
49 years$8,365$4,658$2,467$1,259$626$214
50 years$8,104$4,450$2,319$1,163$569$189

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $8,300,000, adding $5,429 every year, while hoping to spend $34,396 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: 71/23/6 Blend
63$8,300,000$8,300,000$8,300,000$8,300,000
64$9,152,200$8,712,300$8,583,650$9,794,673
65$10,049,127$9,102,606$8,834,605$10,609,794
66$11,036,388$9,510,883$9,092,815$11,496,862
67$12,123,161$9,937,978$9,358,485$12,466,796
68$13,319,558$10,384,773$9,631,829$13,527,735
69$14,636,722$10,852,196$9,913,064$14,688,633
70$16,086,932$11,341,218$10,202,416$15,959,347
71$17,683,717$11,852,855$10,500,115$17,350,722
72$19,441,985$12,388,175$10,806,398$18,874,695
73$21,378,165$12,948,292$11,121,509$20,544,403
74$23,510,357$13,534,378$11,445,699$22,374,307
75$25,858,509$14,147,658$11,779,226$24,380,327
76$28,444,601$14,789,417$12,122,354$26,579,986
77$31,292,852$15,461,001$12,475,355$28,992,576
78$34,429,953$16,163,819$12,838,508$31,639,338
79$37,885,312$16,899,351$13,212,103$34,543,656
80$41,691,339$17,669,144$13,596,433$37,731,280
81$45,883,744$18,474,821$13,991,802$41,230,562
82$50,501,881$19,318,082$14,398,523$45,072,722
83$55,589,116$20,200,711$14,816,916$49,292,140
84$61,193,233$21,124,573$15,247,310$53,926,675
85$67,366,892$22,091,627$15,690,045$59,018,022
86$74,168,121$23,103,923$16,145,467$64,612,101
87$81,660,865$24,163,610$16,613,935$70,759,483
88$89,915,587$25,272,941$17,095,816$77,515,868
89$99,009,938$26,434,276$17,591,488$84,942,604
90$109,029,487$27,650,090$18,101,337$93,107,262
91$120,068,526$28,922,976$18,625,764$102,084,271
92$132,230,965$30,255,652$19,165,176$111,955,612
93$145,631,310$31,650,965$19,719,996$122,811,589
94$160,395,743$33,111,901$20,290,655$134,751,679
95$176,663,314$34,641,590$20,877,597$147,885,459
96$194,587,254$36,243,310$21,481,279$162,333,640
97$214,336,421$37,920,499$22,102,169$178,229,198
98$236,096,893$39,676,761$22,740,748$195,718,625
99$260,073,725$41,515,871$23,397,512$214,963,301
100$286,492,885$43,441,789$24,072,969$236,141,014