Can I retire at age 58 with 12,200,000?

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 $12,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$1,007,465$998,491$989,735$981,190$972,845$937,955
2 years$498,745$489,456$480,454$471,726$463,260$428,485
3 years$329,194$319,865$310,886$302,239$293,911$260,346
4 years$244,435$235,135$226,245$217,746$209,620$177,521
5 years$193,593$184,348$175,575$167,250$159,350$128,800
6 years$159,709$150,534$141,891$133,751$126,088$97,111
7 years$135,516$126,419$117,912$109,964$102,543$75,132
8 years$117,379$108,364$99,999$92,246$85,069$59,201
9 years$103,281$94,350$86,129$78,573$71,641$47,281
10 years$92,008$83,165$75,089$67,731$61,042$38,148
11 years$82,791$74,037$66,107$58,946$52,498$31,023
12 years$75,116$66,452$58,669$51,704$45,493$25,385
13 years$68,627$60,053$52,416$45,647$39,671$20,875
14 years$63,069$54,586$47,096$40,520$34,776$17,234
15 years$58,257$49,866$42,522$36,137$30,619$14,274
16 years$54,051$45,751$38,552$32,357$27,061$11,853
17 years$50,343$42,135$35,081$29,072$23,994$9,864
18 years$47,051$38,934$32,024$26,200$21,335$8,224
19 years$44,109$36,084$29,317$23,674$19,016$6,866
20 years$41,464$33,531$26,906$21,441$16,986$5,739
21 years$39,074$31,233$24,748$19,459$15,200$4,802
22 years$36,905$29,155$22,809$17,693$13,625$4,021
23 years$34,927$27,268$21,060$16,113$12,230$3,370
24 years$33,116$25,548$19,477$14,696$10,993$2,826
25 years$31,453$23,976$18,040$13,421$9,892$2,371
26 years$29,921$22,533$16,731$12,272$8,910$1,990
27 years$28,504$21,206$15,536$11,233$8,033$1,670
28 years$27,191$19,983$14,443$10,292$7,249$1,403
29 years$25,971$18,851$13,440$9,438$6,545$1,178
30 years$24,834$17,803$12,519$8,661$5,914$990
31 years$23,772$16,830$11,671$7,955$5,347$832
32 years$22,779$15,925$10,889$7,311$4,837$699
33 years$21,848$15,081$10,167$6,723$4,377$588
34 years$20,974$14,293$9,500$6,186$3,963$494
35 years$20,152$13,557$8,882$5,694$3,590$415
36 years$19,376$12,867$8,309$5,244$3,252$349
37 years$18,645$12,221$7,777$4,832$2,948$294
38 years$17,954$11,614$7,283$4,454$2,672$247
39 years$17,299$11,044$6,823$4,106$2,423$208
40 years$16,679$10,508$6,395$3,788$2,198$175
41 years$16,091$10,002$5,997$3,495$1,994$147
42 years$15,532$9,526$5,625$3,225$1,809$123
43 years$15,001$9,076$5,278$2,977$1,642$104
44 years$14,495$8,651$4,955$2,749$1,491$87
45 years$14,013$8,250$4,652$2,539$1,353$73
46 years$13,554$7,870$4,370$2,345$1,229$62
47 years$13,115$7,511$4,105$2,166$1,116$52
48 years$12,696$7,170$3,858$2,002$1,013$44
49 years$12,295$6,847$3,626$1,850$920$37
50 years$11,911$6,540$3,409$1,710$836$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $12,200,000, adding $4,119 every year, while hoping to spend $22,294 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: 62/21/17 Blend
57$12,200,000$12,200,000$12,200,000$12,200,000
58$13,448,649$12,802,049$12,612,949$14,224,514
59$14,796,690$13,405,628$13,011,762$15,350,797
60$16,281,485$14,038,036$13,423,188$16,576,926
61$17,916,958$14,700,662$13,847,626$17,914,949
62$19,718,454$15,394,960$14,285,488$19,375,744
63$21,702,882$16,122,460$14,737,198$20,971,274
64$23,888,877$16,884,761$15,203,195$22,714,700
65$26,296,970$17,683,542$15,683,930$24,620,501
66$28,949,789$18,520,564$16,179,869$26,704,606
67$31,872,267$19,397,671$16,691,495$28,984,541
68$35,091,880$20,316,798$17,219,302$31,479,593
69$38,638,906$21,279,976$17,763,802$34,210,986
70$42,546,710$22,289,330$18,325,525$37,202,077
71$46,852,059$23,347,091$18,905,014$40,478,574
72$51,595,469$24,455,599$19,502,832$44,068,775
73$56,821,588$25,617,305$20,119,559$48,003,825
74$62,579,619$26,834,781$20,755,793$52,318,014
75$68,923,779$28,110,724$21,412,151$57,049,089
76$75,913,815$29,447,961$22,089,269$62,238,605
77$83,615,570$30,849,457$22,787,805$67,932,316
78$92,101,598$32,318,320$23,508,436$74,180,601
79$101,451,853$33,857,810$24,251,861$81,038,926
80$111,754,446$35,471,346$25,018,802$88,568,373
81$123,106,469$37,162,512$25,810,002$96,836,200
82$135,614,921$38,935,067$26,626,229$105,916,475
83$149,397,710$40,792,952$27,468,274$115,890,765
84$164,584,770$42,740,301$28,336,956$126,848,901
85$181,319,288$44,781,447$29,233,115$138,889,817
86$199,759,054$46,920,936$30,157,623$152,122,474
87$220,077,949$49,163,534$31,111,375$166,666,884
88$242,467,591$51,514,238$32,095,297$182,655,231
89$267,139,140$53,978,290$33,110,344$200,233,111
90$294,325,292$56,561,186$34,157,500$219,560,894
91$324,282,478$59,268,690$35,237,782$240,815,232
92$357,293,280$62,106,846$36,352,238$264,190,714
93$393,669,105$65,081,992$37,501,948$289,901,691
94$433,753,119$68,200,775$38,688,029$318,184,288
95$477,923,491$71,470,166$39,911,631$349,298,623
96$526,596,958$74,897,476$41,173,942$383,531,247
97$580,232,765$78,490,369$42,476,186$421,197,838
98$639,336,996$82,256,886$43,819,628$462,646,168
99$704,467,354$86,205,458$45,205,570$508,259,366
100$776,238,426$90,344,927$46,635,357$558,459,527