Can I retire at age 66 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$734,954$728,407$722,020$715,786$709,698$704,930
2 years$363,838$357,062$350,495$344,128$337,952$333,143
3 years$240,150$233,344$226,794$220,486$214,410$209,710
4 years$178,317$171,533$165,048$158,848$152,919$148,363
5 years$141,228$134,484$128,084$122,010$116,247$111,849
6 years$116,509$109,816$103,511$97,573$91,982$87,747
7 years$98,860$92,223$86,018$80,220$74,806$70,737
8 years$85,629$79,052$72,950$67,294$62,059$58,155
9 years$75,344$68,829$62,832$57,320$52,263$48,523
10 years$67,121$60,670$54,778$49,410$44,530$40,954
11 years$60,397$54,011$48,226$43,002$38,298$34,881
12 years$54,798$48,477$42,799$37,718$33,188$29,928
13 years$50,064$43,809$38,238$33,300$28,940$25,835
14 years$46,010$39,821$34,357$29,560$25,369$22,413
15 years$42,499$36,377$31,020$26,362$22,337$19,527
16 years$39,430$33,376$28,124$23,604$19,741$17,074
17 years$36,726$30,738$25,592$21,208$17,504$14,974
18 years$34,324$28,403$23,362$19,113$15,564$13,167
19 years$32,178$26,324$21,387$17,270$13,872$11,604
20 years$30,248$24,461$19,628$15,642$12,391$10,247
21 years$28,505$22,785$18,054$14,196$11,089$9,064
22 years$26,922$21,269$16,639$12,907$9,939$8,029
23 years$25,479$19,892$15,363$11,755$8,922$7,122
24 years$24,159$18,638$14,209$10,721$8,019$6,324
25 years$22,946$17,490$13,160$9,791$7,216$5,622
26 years$21,828$16,438$12,205$8,952$6,500$5,002
27 years$20,794$15,470$11,334$8,194$5,860$4,454
28 years$19,836$14,578$10,536$7,508$5,288$3,968
29 years$18,946$13,752$9,805$6,885$4,775$3,538
30 years$18,117$12,988$9,133$6,319$4,314$3,156
31 years$17,342$12,278$8,514$5,803$3,901$2,817
32 years$16,618$11,617$7,944$5,333$3,528$2,515
33 years$15,939$11,002$7,417$4,904$3,193$2,246
34 years$15,301$10,427$6,930$4,512$2,891$2,007
35 years$14,701$9,890$6,479$4,154$2,619$1,794
36 years$14,135$9,387$6,061$3,826$2,373$1,604
37 years$13,602$8,915$5,673$3,525$2,150$1,434
38 years$13,097$8,473$5,313$3,249$1,949$1,283
39 years$12,620$8,057$4,977$2,996$1,768$1,148
40 years$12,168$7,665$4,665$2,763$1,604$1,027
41 years$11,739$7,297$4,375$2,549$1,455$919
42 years$11,331$6,949$4,104$2,353$1,320$822
43 years$10,943$6,621$3,851$2,172$1,198$736
44 years$10,574$6,311$3,614$2,005$1,087$659
45 years$10,223$6,018$3,394$1,852$987$590
46 years$9,888$5,741$3,188$1,711$896$528
47 years$9,568$5,479$2,995$1,580$814$473
48 years$9,262$5,230$2,814$1,460$739$424
49 years$8,969$4,995$2,645$1,350$671$379
50 years$8,690$4,771$2,487$1,248$610$340

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $8,900,000, adding $6,047 every year, while hoping to spend $21,727 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: 57/34/9 Blend
65$8,900,000$8,900,000$8,900,000$8,900,000
66$9,814,037$9,342,337$9,204,387$10,352,288
67$10,791,952$9,776,995$9,489,617$11,150,395
68$11,868,885$10,232,222$9,783,674$12,016,630
69$13,054,915$10,709,004$10,086,830$12,959,928
70$14,361,145$11,208,374$10,399,367$13,987,660
71$15,799,811$11,731,413$10,721,576$15,107,923
72$17,384,397$12,279,258$11,053,753$16,329,620
73$19,129,760$12,853,096$11,396,209$17,662,538
74$21,052,273$13,454,175$11,749,259$19,117,433
75$23,169,977$14,083,802$12,113,232$20,706,136
76$25,502,754$14,743,348$12,488,465$22,441,655
77$28,072,512$15,434,249$12,875,305$24,338,296
78$30,903,392$16,158,011$13,274,111$26,411,795
79$34,021,998$16,916,213$13,685,254$28,679,458
80$37,457,644$17,710,510$14,109,113$31,160,327
81$41,242,637$18,542,638$14,546,081$33,875,348
82$45,412,575$19,414,417$14,996,564$36,847,571
83$50,006,688$20,327,753$15,460,978$40,102,355
84$55,068,203$21,284,646$15,939,755$43,667,607
85$60,644,760$22,287,193$16,433,336$47,574,040
86$66,788,852$23,337,593$16,942,180$51,855,455
87$73,558,330$24,438,150$17,466,758$56,549,055
88$81,016,940$25,591,279$18,007,554$61,695,789
89$89,234,931$26,799,516$18,565,071$67,340,734
90$98,289,717$28,065,515$19,139,824$73,533,511
91$108,266,605$29,392,062$19,732,345$80,328,749
92$119,259,603$30,782,077$20,343,182$87,786,590
93$131,372,305$32,238,622$20,972,902$95,973,250
94$144,718,872$33,764,906$21,622,086$104,961,638
95$159,425,107$35,364,296$22,291,335$114,832,032
96$175,629,642$37,040,320$22,981,269$125,672,829
97$193,485,250$38,796,680$23,692,526$137,581,370
98$213,160,283$40,637,255$24,425,763$150,664,851
99$234,840,265$42,566,114$25,181,659$165,041,319
100$258,729,640$44,587,522$25,960,914$180,840,782