Can I retire at age 66 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$693,664$687,485$681,457$675,573$669,828$663,661
2 years$343,398$337,003$330,804$324,795$318,966$312,753
3 years$226,658$220,235$214,052$208,099$202,365$196,298
4 years$168,299$161,896$155,775$149,924$144,328$138,455
5 years$133,293$126,928$120,888$115,156$109,716$104,052
6 years$109,964$103,647$97,695$92,091$86,815$81,368
7 years$93,306$87,042$81,185$75,713$70,604$65,377
8 years$80,819$74,611$68,852$63,514$58,572$53,565
9 years$71,111$64,963$59,302$54,100$49,326$44,537
10 years$63,350$57,261$51,701$46,634$42,029$37,454
11 years$57,004$50,976$45,517$40,586$36,146$31,783
12 years$51,719$45,754$40,395$35,599$31,323$27,167
13 years$47,251$41,348$36,090$31,429$27,315$23,361
14 years$43,425$37,584$32,427$27,899$23,944$20,188
15 years$40,111$34,334$29,277$24,881$21,082$17,518
16 years$37,215$31,501$26,544$22,278$18,632$15,254
17 years$34,662$29,011$24,154$20,017$16,521$13,322
18 years$32,396$26,807$22,050$18,039$14,689$11,665
19 years$30,370$24,845$20,185$16,300$13,093$10,236
20 years$28,549$23,087$18,525$14,763$11,695$9,000
21 years$26,904$21,505$17,040$13,398$10,466$7,925
22 years$25,410$20,074$15,705$12,182$9,381$6,989
23 years$24,048$18,775$14,500$11,094$8,421$6,171
24 years$22,802$17,591$13,410$10,119$7,569$5,455
25 years$21,656$16,508$12,421$9,241$6,811$4,826
26 years$20,601$15,515$11,520$8,449$6,135$4,274
27 years$19,626$14,601$10,697$7,734$5,531$3,788
28 years$18,722$13,759$9,944$7,086$4,991$3,359
29 years$17,882$12,980$9,254$6,498$4,507$2,980
30 years$17,099$12,258$8,620$5,964$4,072$2,645
31 years$16,368$11,588$8,036$5,477$3,682$2,349
32 years$15,684$10,964$7,498$5,034$3,330$2,087
33 years$15,043$10,383$7,001$4,629$3,014$1,855
34 years$14,441$9,841$6,541$4,259$2,729$1,649
35 years$13,875$9,334$6,115$3,921$2,471$1,467
36 years$13,341$8,860$5,721$3,611$2,239$1,305
37 years$12,837$8,415$5,354$3,327$2,030$1,161
38 years$12,361$7,997$5,014$3,066$1,840$1,033
39 years$11,911$7,604$4,698$2,827$1,669$919
40 years$11,484$7,235$4,403$2,608$1,513$818
41 years$11,079$6,887$4,129$2,406$1,373$729
42 years$10,694$6,559$3,873$2,221$1,246$649
43 years$10,329$6,249$3,634$2,050$1,131$578
44 years$9,980$5,957$3,411$1,893$1,026$514
45 years$9,649$5,680$3,203$1,748$932$458
46 years$9,332$5,419$3,009$1,615$846$408
47 years$9,030$5,171$2,826$1,492$768$364
48 years$8,741$4,937$2,656$1,378$698$324
49 years$8,465$4,714$2,497$1,274$634$289
50 years$8,201$4,503$2,347$1,177$575$257

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,400,000, adding $2,677 every year, while hoping to spend $50,050 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: 72/14/14 Blend
65$8,400,000$8,400,000$8,400,000$8,400,000
66$9,259,561$8,814,361$8,684,161$9,897,660
67$10,150,784$9,193,012$8,921,828$10,699,549
68$11,131,233$9,588,540$9,165,779$11,571,004
69$12,209,959$10,001,717$9,416,172$12,523,963
70$13,396,929$10,433,356$9,673,168$13,566,480
71$14,703,129$10,884,304$9,936,933$14,707,418
72$16,140,663$11,355,450$10,207,635$15,956,537
73$17,722,867$11,847,722$10,485,446$17,324,579
74$19,464,434$12,362,096$10,770,544$18,823,371
75$21,381,557$12,899,590$11,063,108$20,465,938
76$23,492,077$13,461,271$11,363,323$22,266,619
77$25,815,653$14,048,257$11,671,378$24,241,202
78$28,373,946$14,661,717$11,987,466$26,407,076
79$31,190,825$15,302,878$12,311,782$28,783,387
80$34,292,592$15,973,022$12,644,530$31,391,222
81$37,708,228$16,673,493$12,985,914$34,253,805
82$41,469,671$17,405,697$13,336,145$37,396,710
83$45,612,109$18,171,107$13,695,438$40,848,107
84$50,174,321$18,971,268$14,064,012$44,639,023
85$55,199,036$19,807,795$14,442,090$48,803,631
86$60,733,340$20,682,380$14,829,903$53,379,573
87$66,829,120$21,596,795$15,227,684$58,408,312
88$73,543,550$22,552,898$15,635,671$63,935,519
89$80,939,635$23,552,633$16,054,109$70,011,507
90$89,086,801$24,598,035$16,483,245$76,691,696
91$98,061,555$25,691,240$16,923,334$84,037,140
92$107,948,203$26,834,480$17,374,635$92,115,097
93$118,839,647$28,030,096$17,837,412$100,999,661
94$130,838,260$29,280,540$18,311,936$110,772,460
95$144,056,857$30,588,381$18,798,480$121,523,420
96$158,619,754$31,956,309$19,297,326$133,351,616
97$174,663,942$33,387,141$19,808,759$146,366,199
98$192,340,384$34,883,831$20,333,073$160,687,423
99$211,815,436$36,449,471$20,870,563$176,447,781
100$233,272,417$38,087,303$21,421,534$193,793,245