Can I retire at age 66 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$726,696$720,223$713,907$707,743$701,724$680,899
2 years$359,750$353,050$346,557$340,261$334,154$313,345
3 years$237,451$230,722$224,245$218,009$212,001$191,860
4 years$176,314$169,605$163,193$157,063$151,201$131,883
5 years$139,641$132,973$126,645$120,639$114,941$96,498
6 years$115,200$108,582$102,348$96,476$90,949$73,398
7 years$97,749$91,187$85,051$79,318$73,966$57,307
8 years$84,667$78,164$72,130$66,538$61,362$45,584
9 years$74,498$68,056$62,126$56,676$51,675$36,763
10 years$66,367$59,988$54,163$48,855$44,030$29,962
11 years$59,718$53,404$47,684$42,519$37,867$24,619
12 years$54,182$47,932$42,318$37,295$32,815$20,361
13 years$49,501$43,317$37,809$32,925$28,615$16,926
14 years$45,493$39,374$33,971$29,228$25,084$14,131
15 years$42,022$35,969$30,671$26,066$22,086$11,837
16 years$38,987$33,001$27,808$23,339$19,520$9,944
17 years$36,313$30,392$25,304$20,970$17,307$8,373
18 years$33,938$28,084$23,100$18,898$15,389$7,064
19 years$31,816$26,028$21,147$17,076$13,717$5,969
20 years$29,908$24,186$19,407$15,466$12,252$5,051
21 years$28,185$22,529$17,851$14,036$10,964$4,279
22 years$26,620$21,030$16,452$12,762$9,828$3,629
23 years$25,193$19,669$15,191$11,623$8,822$3,080
24 years$23,887$18,428$14,049$10,601$7,929$2,615
25 years$22,688$17,294$13,012$9,681$7,135$2,222
26 years$21,582$16,254$12,068$8,852$6,427$1,889
27 years$20,560$15,296$11,206$8,102$5,795$1,607
28 years$19,613$14,414$10,418$7,423$5,229$1,367
29 years$18,733$13,598$9,695$6,807$4,721$1,163
30 years$17,913$12,842$9,030$6,248$4,266$990
31 years$17,147$12,140$8,419$5,738$3,857$843
32 years$16,431$11,487$7,855$5,273$3,489$718
33 years$15,760$10,878$7,334$4,849$3,157$612
34 years$15,129$10,310$6,852$4,462$2,859$521
35 years$14,536$9,779$6,407$4,107$2,589$444
36 years$13,976$9,281$5,993$3,783$2,346$378
37 years$13,449$8,815$5,609$3,485$2,126$322
38 years$12,950$8,378$5,253$3,212$1,928$275
39 years$12,478$7,966$4,922$2,962$1,748$234
40 years$12,031$7,579$4,613$2,732$1,585$200
41 years$11,607$7,215$4,325$2,521$1,438$170
42 years$11,204$6,871$4,057$2,326$1,305$145
43 years$10,820$6,547$3,807$2,147$1,185$124
44 years$10,456$6,240$3,574$1,983$1,075$105
45 years$10,108$5,951$3,356$1,831$976$90
46 years$9,777$5,677$3,152$1,691$886$77
47 years$9,460$5,417$2,961$1,563$805$65
48 years$9,158$5,172$2,783$1,444$731$56
49 years$8,869$4,939$2,615$1,335$664$47
50 years$8,592$4,718$2,459$1,233$603$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,800,000, adding $3,312 every year, while hoping to spend $37,744 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: 69/20/11 Blend
65$8,800,000$8,800,000$8,800,000$8,800,000
66$9,701,016$9,234,616$9,098,216$10,347,926
67$10,650,361$9,646,953$9,362,847$11,190,035
68$11,695,273$10,078,230$9,635,078$12,106,102
69$12,845,462$10,529,334$9,915,124$13,107,271
70$14,111,624$11,001,196$10,203,206$14,201,895
71$15,505,546$11,494,791$10,499,550$15,399,168
72$17,040,216$12,011,140$10,804,389$16,709,206
73$18,729,945$12,551,313$11,117,963$18,143,143
74$20,590,503$13,116,431$11,440,518$19,713,233
75$22,639,266$13,707,667$11,772,307$21,432,965
76$24,895,381$14,326,253$12,113,590$23,317,184
77$27,379,948$14,973,478$12,464,633$25,382,235
78$30,116,216$15,650,691$12,825,711$27,646,112
79$33,129,804$16,359,309$13,197,106$30,128,623
80$36,448,942$17,100,814$13,579,108$32,851,578
81$40,104,739$17,876,759$13,972,013$35,838,993
82$44,131,475$18,688,772$14,376,128$39,117,308
83$48,566,923$19,538,560$14,791,766$42,715,641
84$53,452,710$20,427,909$15,219,250$46,666,053
85$58,834,703$21,358,694$15,658,912$51,003,855
86$64,763,449$22,332,876$16,111,092$55,767,929
87$71,294,646$23,352,513$16,576,139$61,001,101
88$78,489,673$24,419,759$17,054,413$66,750,534
89$86,416,167$25,536,875$17,546,283$73,068,174
90$95,148,661$26,706,226$18,052,128$80,011,234
91$104,769,287$27,930,294$18,572,337$87,642,732
92$115,368,554$29,211,678$19,107,310$96,032,079
93$127,046,200$30,553,103$19,657,458$105,255,732
94$139,912,132$31,957,425$20,223,203$115,397,910
95$154,087,466$33,427,636$20,804,977$126,551,386
96$169,705,670$34,966,873$21,403,227$138,818,352
97$186,913,822$36,578,422$22,018,408$152,311,387
98$205,873,997$38,265,730$22,650,990$167,154,506
99$226,764,801$40,032,408$23,301,455$183,484,331
100$249,783,055$41,882,240$23,970,297$201,451,369