Can I retire at age 58 with 12,300,000?

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 $12,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$1,015,723$1,006,675$997,848$989,232$980,819$961,016
2 years$502,833$493,468$484,392$475,592$467,057$447,192
3 years$331,892$322,487$313,434$304,717$296,320$277,014
4 years$246,438$237,062$228,100$219,531$211,338$192,739
5 years$195,180$185,859$177,015$168,621$160,656$142,816
6 years$161,018$151,768$143,054$134,848$127,121$110,061
7 years$136,627$127,455$118,879$110,866$103,384$87,106
8 years$118,342$109,252$100,818$93,002$85,767$70,267
9 years$104,127$95,124$86,835$79,217$72,228$57,496
10 years$92,762$83,847$75,705$68,286$61,542$47,564
11 years$83,470$74,644$66,649$59,429$52,928$39,686
12 years$75,732$66,996$59,149$52,128$45,866$33,342
13 years$69,189$60,545$52,846$46,021$39,996$28,167
14 years$63,586$55,034$47,482$40,852$35,061$23,905
15 years$58,735$50,274$42,870$36,433$30,870$20,364
16 years$54,494$46,126$38,868$32,622$27,283$17,402
17 years$50,755$42,480$35,369$29,310$24,191$14,911
18 years$47,436$39,254$32,287$26,415$21,510$12,804
19 years$44,470$36,380$29,557$23,868$19,172$11,016
20 years$41,804$33,806$27,126$21,617$17,125$9,493
21 years$39,395$31,489$24,951$19,619$15,325$8,191
22 years$37,207$29,394$22,996$17,838$13,736$7,077
23 years$35,213$27,491$21,233$16,245$12,331$6,120
24 years$33,388$25,758$19,637$14,817$11,083$5,297
25 years$31,711$24,172$18,187$13,531$9,973$4,588
26 years$30,166$22,718$16,868$12,372$8,983$3,976
27 years$28,738$21,380$15,663$11,325$8,099$3,448
28 years$27,414$20,147$14,561$10,376$7,308$2,992
29 years$26,184$19,006$13,550$9,515$6,599$2,597
30 years$25,037$17,949$12,622$8,732$5,963$2,255
31 years$23,967$16,968$11,767$8,020$5,391$1,958
32 years$22,966$16,055$10,979$7,371$4,876$1,701
33 years$22,027$15,204$10,251$6,778$4,413$1,478
34 years$21,146$14,410$9,578$6,236$3,996$1,285
35 years$20,317$13,668$8,955$5,741$3,619$1,117
36 years$19,535$12,973$8,377$5,287$3,279$971
37 years$18,798$12,321$7,841$4,871$2,972$845
38 years$18,101$11,710$7,342$4,490$2,694$734
39 years$17,441$11,135$6,879$4,140$2,443$639
40 years$16,816$10,594$6,448$3,819$2,216$556
41 years$16,223$10,084$6,046$3,523$2,010$483
42 years$15,660$9,604$5,671$3,251$1,824$420
43 years$15,124$9,151$5,322$3,001$1,656$366
44 years$14,614$8,722$4,995$2,771$1,503$318
45 years$14,128$8,318$4,690$2,559$1,364$277
46 years$13,665$7,935$4,405$2,364$1,239$241
47 years$13,223$7,572$4,139$2,184$1,125$210
48 years$12,800$7,229$3,889$2,018$1,022$182
49 years$12,396$6,903$3,656$1,865$928$159
50 years$12,009$6,594$3,437$1,724$843$138

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $12,300,000, adding $3,696 every year, while hoping to spend $43,438 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: 23/50/27 Blend
57$12,300,000$12,300,000$12,300,000$12,300,000
58$13,558,412$12,906,512$12,715,862$13,754,061
59$14,895,153$13,492,714$13,095,626$14,509,157
60$16,366,785$14,106,183$13,486,656$15,313,120
61$17,987,022$14,748,211$13,889,284$16,172,966
62$19,770,974$15,420,149$14,303,850$17,093,329
63$21,735,291$16,123,414$14,730,707$18,079,270
64$23,898,320$16,859,491$15,170,216$19,136,321
65$26,280,278$17,629,936$15,622,748$20,270,524
66$28,903,443$18,436,379$16,088,686$21,488,488
67$31,792,361$19,280,529$16,568,424$22,797,442
68$34,974,084$20,164,176$17,062,368$24,205,293
69$38,478,417$21,089,197$17,570,934$25,720,697
70$42,338,207$22,057,560$18,094,552$27,353,132
71$46,589,648$23,071,324$18,633,663$29,112,974
72$51,272,623$24,132,650$19,188,722$31,011,594
73$56,431,084$25,243,803$19,760,197$33,061,448
74$62,113,459$26,407,154$20,348,569$35,276,192
75$68,373,119$27,625,192$20,954,333$37,670,793
76$75,268,873$28,900,522$21,577,999$40,261,669
77$82,865,528$30,235,877$22,220,091$43,066,824
78$91,234,496$31,634,120$22,881,149$46,106,011
79$100,454,475$33,098,252$23,561,728$49,400,906
80$110,612,185$34,631,420$24,262,399$52,975,299
81$121,803,189$36,236,920$24,983,750$56,855,304
82$134,132,795$37,918,210$25,726,387$61,069,596
83$147,717,050$39,678,912$26,490,930$65,649,661
84$162,683,834$41,522,824$27,278,021$70,630,082
85$179,174,069$43,453,926$28,088,319$76,048,850
86$197,343,047$45,476,391$28,922,501$81,947,702
87$217,361,897$47,594,594$29,781,264$88,372,503
88$239,419,201$49,813,119$30,665,327$95,373,654
89$263,722,771$52,136,774$31,575,426$103,006,557
90$290,501,613$54,570,596$32,512,323$111,332,108
91$320,008,090$57,119,867$33,476,798$120,417,262
92$352,520,300$59,790,125$34,469,656$130,335,633
93$388,344,704$62,587,175$35,491,722$141,168,172
94$427,819,018$65,517,100$36,543,849$153,003,907
95$471,315,401$68,586,282$37,626,912$165,940,755
96$519,243,969$71,801,407$38,741,810$180,086,423
97$572,056,665$75,169,486$39,889,472$195,559,397
98$630,251,525$78,697,871$41,070,849$212,490,031
99$694,377,380$82,394,266$42,286,922$231,021,747
100$765,039,039$86,266,751$43,538,700$251,312,359