Can I retire at age 66 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%13.4%
1 years$685,406$679,301$673,344$667,531$661,854$652,502
2 years$339,310$332,991$326,866$320,928$315,168$305,765
3 years$223,960$217,613$211,504$205,622$199,956$190,792
4 years$166,296$159,969$153,921$148,139$142,610$133,758
5 years$131,707$125,417$119,449$113,785$108,410$99,894
6 years$108,655$102,413$96,532$90,995$85,781$77,612
7 years$92,195$86,006$80,219$74,812$69,763$61,944
8 years$79,857$73,723$68,032$62,758$57,875$50,405
9 years$70,265$64,189$58,596$53,456$48,739$41,614
10 years$62,596$56,580$51,085$46,079$41,528$34,743
11 years$56,325$50,370$44,975$40,103$35,716$29,263
12 years$51,104$45,209$39,914$35,176$30,950$24,824
13 years$46,689$40,856$35,660$31,055$26,989$21,180
14 years$42,908$37,137$32,041$27,567$23,659$18,157
15 years$39,634$33,925$28,929$24,585$20,831$15,628
16 years$36,772$31,126$26,228$22,013$18,411$13,496
17 years$34,250$28,665$23,867$19,779$16,324$11,688
18 years$32,010$26,488$21,787$17,824$14,515$10,147
19 years$30,008$24,549$19,945$16,106$12,937$8,827
20 years$28,209$22,812$18,305$14,587$11,556$7,692
21 years$26,583$21,249$16,837$13,239$10,341$6,713
22 years$25,107$19,835$15,518$12,037$9,269$5,867
23 years$23,762$18,551$14,328$10,962$8,321$5,133
24 years$22,530$17,381$13,251$9,998$7,479$4,495
25 years$21,399$16,311$12,273$9,131$6,730$3,940
26 years$20,356$15,330$11,382$8,349$6,062$3,456
27 years$19,392$14,427$10,570$7,642$5,465$3,034
28 years$18,499$13,595$9,826$7,002$4,931$2,664
29 years$17,669$12,825$9,144$6,421$4,453$2,341
30 years$16,895$12,112$8,517$5,893$4,024$2,058
31 years$16,173$11,450$7,940$5,412$3,638$1,810
32 years$15,497$10,834$7,408$4,974$3,291$1,592
33 years$14,864$10,260$6,917$4,574$2,978$1,401
34 years$14,269$9,724$6,463$4,208$2,696$1,233
35 years$13,710$9,223$6,042$3,874$2,442$1,085
36 years$13,182$8,754$5,653$3,568$2,213$956
37 years$12,685$8,314$5,291$3,287$2,005$842
38 years$12,214$7,902$4,955$3,030$1,818$741
39 years$11,769$7,514$4,642$2,794$1,649$653
40 years$11,347$7,149$4,351$2,577$1,495$575
41 years$10,947$6,805$4,080$2,377$1,357$507
42 years$10,567$6,481$3,827$2,194$1,231$447
43 years$10,206$6,175$3,591$2,025$1,117$394
44 years$9,862$5,886$3,371$1,870$1,014$347
45 years$9,534$5,613$3,165$1,727$921$306
46 years$9,221$5,354$2,973$1,595$836$270
47 years$8,923$5,110$2,793$1,474$759$238
48 years$8,637$4,878$2,624$1,362$689$210
49 years$8,365$4,658$2,467$1,259$626$185
50 years$8,104$4,450$2,319$1,163$569$163

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,300,000, adding $2,058 every year, while hoping to spend $49,230 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: 38/48/14 Blend
65$8,300,000$8,300,000$8,300,000$8,300,000
66$9,148,723$8,708,823$8,580,173$9,457,509
67$10,029,512$9,083,175$8,815,228$10,052,502
68$10,998,492$9,474,220$9,056,508$10,690,192
69$12,064,606$9,882,725$9,304,169$11,378,276
70$13,237,708$10,309,490$9,558,371$12,121,308
71$14,528,656$10,755,357$9,819,277$12,924,279
72$15,949,412$11,221,202$10,087,057$13,792,668
73$17,513,158$11,707,948$10,361,880$14,732,482
74$19,234,420$12,216,557$10,643,922$15,750,314
75$21,129,200$12,748,037$10,933,362$16,853,399
76$23,215,133$13,303,445$11,230,384$18,049,681
77$25,511,650$13,883,887$11,535,176$19,347,881
78$28,040,161$14,490,521$11,847,927$20,757,576
79$30,824,260$15,124,559$12,168,835$22,289,284
80$33,889,943$15,787,271$12,498,100$23,954,559
81$37,265,857$16,479,987$12,835,926$25,766,099
82$40,983,566$17,204,099$13,182,521$27,737,851
83$45,077,855$17,961,064$13,538,101$29,885,147
84$49,587,051$18,752,411$13,902,882$32,224,839
85$54,553,389$19,579,738$14,277,088$34,775,449
86$60,023,411$20,444,721$14,660,946$37,557,345
87$66,048,400$21,349,114$15,054,689$40,592,920
88$72,684,870$22,294,754$15,458,554$43,906,797
89$79,995,095$23,283,565$15,872,784$47,526,060
90$88,047,699$24,317,564$16,297,627$51,480,497
91$96,918,301$25,398,862$16,733,334$55,802,873
92$106,690,232$26,529,670$17,180,165$60,529,236
93$117,455,317$27,712,305$17,638,381$65,699,242
94$129,314,744$28,949,193$18,108,252$71,356,527
95$142,380,022$30,242,877$18,590,052$77,549,106
96$156,774,025$31,596,020$19,084,060$84,329,814
97$172,632,162$33,011,410$19,590,562$91,756,802
98$190,103,644$34,491,971$20,109,848$99,894,068
99$209,352,902$36,040,764$20,642,214$108,812,053
100$230,561,133$37,660,997$21,187,963$118,588,294