Can I retire at age 58 with 12,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $12,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$990,949$982,122$973,510$965,105$956,897$937,193
2 years$490,569$481,432$472,578$463,993$455,665$435,904
3 years$323,797$314,621$305,789$297,285$289,093$269,890
4 years$240,428$231,280$222,536$214,177$206,183$187,687
5 years$190,419$181,326$172,697$164,508$156,737$139,000
6 years$157,091$148,067$139,565$131,559$124,021$107,062
7 years$133,294$124,346$115,979$108,162$100,862$84,685
8 years$115,455$106,588$98,360$90,734$83,675$68,275
9 years$101,588$92,804$84,717$77,285$70,466$55,832
10 years$90,500$81,802$73,858$66,621$60,041$46,159
11 years$81,434$72,823$65,024$57,980$51,637$38,490
12 years$73,885$65,362$57,707$50,856$44,748$32,315
13 years$67,502$59,068$51,557$44,898$39,021$27,282
14 years$62,035$53,692$46,324$39,856$34,205$23,138
15 years$57,302$49,048$41,825$35,544$30,117$19,697
16 years$53,165$45,001$37,920$31,826$26,618$16,820
17 years$49,518$41,444$34,506$28,595$23,601$14,402
18 years$46,279$38,296$31,499$25,770$20,985$12,358
19 years$43,385$35,493$28,836$23,286$18,704$10,624
20 years$40,784$32,981$26,464$21,090$16,707$9,148
21 years$38,434$30,721$24,342$19,140$14,951$7,888
22 years$36,300$28,677$22,435$17,403$13,401$6,809
23 years$34,354$26,821$20,715$15,849$12,030$5,884
24 years$32,574$25,129$19,158$14,455$10,813$5,089
25 years$30,938$23,583$17,744$13,201$9,730$4,404
26 years$29,430$22,164$16,457$12,071$8,764$3,814
27 years$28,037$20,859$15,281$11,049$7,902$3,305
28 years$26,745$19,655$14,206$10,123$7,130$2,865
29 years$25,545$18,542$13,220$9,283$6,438$2,485
30 years$24,427$17,511$12,314$8,519$5,817$2,156
31 years$23,383$16,554$11,480$7,824$5,259$1,871
32 years$22,406$15,663$10,711$7,191$4,757$1,624
33 years$21,490$14,834$10,001$6,613$4,305$1,410
34 years$20,630$14,059$9,344$6,084$3,898$1,225
35 years$19,821$13,335$8,736$5,601$3,531$1,064
36 years$19,059$12,656$8,172$5,158$3,199$924
37 years$18,339$12,021$7,649$4,753$2,899$803
38 years$17,659$11,424$7,163$4,381$2,629$698
39 years$17,016$10,863$6,711$4,039$2,384$606
40 years$16,406$10,335$6,290$3,725$2,162$527
41 years$15,827$9,838$5,898$3,437$1,961$458
42 years$15,278$9,370$5,533$3,172$1,780$398
43 years$14,755$8,927$5,192$2,928$1,615$346
44 years$14,258$8,510$4,873$2,704$1,466$301
45 years$13,784$8,115$4,576$2,497$1,331$261
46 years$13,332$7,741$4,298$2,307$1,209$227
47 years$12,900$7,387$4,038$2,131$1,097$198
48 years$12,488$7,052$3,794$1,969$997$172
49 years$12,094$6,735$3,567$1,820$905$149
50 years$11,716$6,433$3,353$1,682$822$130

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $12,000,000, adding $5,874 every year, while hoping to spend $39,331 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: 54/30/16 Blend
57$12,000,000$12,000,000$12,000,000$12,000,000
58$13,230,059$12,594,059$12,408,059$13,887,635
59$14,537,677$13,169,320$12,781,881$14,912,222
60$15,977,354$13,771,451$13,166,908$16,022,203
61$17,562,518$14,401,726$13,563,474$17,229,528
62$19,307,967$15,061,482$13,971,922$18,543,481
63$21,230,004$15,752,120$14,392,606$19,974,264
64$23,346,597$16,475,106$14,825,891$21,533,090
65$25,677,544$17,231,979$15,272,151$23,232,287
66$28,244,659$18,024,352$15,731,774$25,085,408
67$31,071,981$18,853,913$16,205,156$27,107,355
68$34,186,002$19,722,433$16,692,707$29,314,518
69$37,615,909$20,631,767$17,194,848$31,724,920
70$41,393,870$21,583,862$17,712,013$34,358,387
71$45,555,329$22,580,755$18,244,650$37,236,726
72$50,139,343$23,624,583$18,793,217$40,383,929
73$55,188,955$24,717,586$19,358,188$43,826,392
74$60,751,592$25,862,112$19,940,051$47,593,158
75$66,879,519$27,060,620$20,539,307$51,716,186
76$73,630,329$28,315,689$21,156,473$56,230,645
77$81,067,488$29,630,024$21,792,081$61,175,243
78$89,260,934$31,006,457$22,446,678$66,592,580
79$98,287,736$32,447,960$23,120,827$72,529,546
80$108,232,819$33,957,644$23,815,110$79,037,755
81$119,189,774$35,538,776$24,530,123$86,174,025
82$131,261,729$37,194,774$25,266,480$94,000,907
83$144,562,334$38,929,226$26,024,815$102,587,264
84$159,216,825$40,745,892$26,805,780$112,008,912
85$175,363,212$42,648,711$27,610,045$122,349,330
86$193,153,578$44,641,817$28,438,300$133,700,433
87$212,755,517$46,729,539$29,291,256$146,163,434
88$234,353,711$48,916,418$30,169,645$159,849,785
89$258,151,681$51,207,214$31,074,220$174,882,219
90$284,373,702$53,606,917$32,005,755$191,395,895
91$313,266,920$56,120,757$32,965,049$209,539,665
92$345,103,691$58,754,219$33,952,923$229,477,463
93$380,184,145$61,513,053$34,970,223$251,389,841
94$418,839,020$64,403,285$36,017,818$275,475,655
95$461,432,790$67,431,236$37,096,605$301,953,933
96$508,367,098$70,603,530$38,207,505$331,065,923
97$560,084,553$73,927,114$39,351,467$363,077,355
98$617,072,905$77,409,269$40,529,468$398,280,934
99$679,869,649$81,057,632$41,742,514$436,999,082
100$749,067,104$84,880,207$42,991,639$479,586,966