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

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 $12,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$1,015,723$1,006,675$997,848$989,232$980,819$963,778
2 years$502,833$493,468$484,392$475,592$467,057$449,943
3 years$331,892$322,487$313,434$304,717$296,320$279,667
4 years$246,438$237,062$228,100$219,531$211,338$195,274
5 years$195,180$185,859$177,015$168,621$160,656$145,227
6 years$161,018$151,768$143,054$134,848$127,121$112,345
7 years$136,627$127,455$118,879$110,866$103,384$89,264
8 years$118,342$109,252$100,818$93,002$85,767$72,301
9 years$104,127$95,124$86,835$79,217$72,228$59,408
10 years$92,762$83,847$75,705$68,286$61,542$49,357
11 years$83,470$74,644$66,649$59,429$52,928$41,365
12 years$75,732$66,996$59,149$52,128$45,866$34,910
13 years$69,189$60,545$52,846$46,021$39,996$29,629
14 years$63,586$55,034$47,482$40,852$35,061$25,265
15 years$58,735$50,274$42,870$36,433$30,870$21,627
16 years$54,494$46,126$38,868$32,622$27,283$18,573
17 years$50,755$42,480$35,369$29,310$24,191$15,993
18 years$47,436$39,254$32,287$26,415$21,510$13,804
19 years$44,470$36,380$29,557$23,868$19,172$11,938
20 years$41,804$33,806$27,126$21,617$17,125$10,341
21 years$39,395$31,489$24,951$19,619$15,325$8,971
22 years$37,207$29,394$22,996$17,838$13,736$7,792
23 years$35,213$27,491$21,233$16,245$12,331$6,775
24 years$33,388$25,758$19,637$14,817$11,083$5,897
25 years$31,711$24,172$18,187$13,531$9,973$5,136
26 years$30,166$22,718$16,868$12,372$8,983$4,476
27 years$28,738$21,380$15,663$11,325$8,099$3,904
28 years$27,414$20,147$14,561$10,376$7,308$3,406
29 years$26,184$19,006$13,550$9,515$6,599$2,974
30 years$25,037$17,949$12,622$8,732$5,963$2,597
31 years$23,967$16,968$11,767$8,020$5,391$2,269
32 years$22,966$16,055$10,979$7,371$4,876$1,982
33 years$22,027$15,204$10,251$6,778$4,413$1,733
34 years$21,146$14,410$9,578$6,236$3,996$1,515
35 years$20,317$13,668$8,955$5,741$3,619$1,325
36 years$19,535$12,973$8,377$5,287$3,279$1,159
37 years$18,798$12,321$7,841$4,871$2,972$1,013
38 years$18,101$11,710$7,342$4,490$2,694$887
39 years$17,441$11,135$6,879$4,140$2,443$776
40 years$16,816$10,594$6,448$3,819$2,216$679
41 years$16,223$10,084$6,046$3,523$2,010$594
42 years$15,660$9,604$5,671$3,251$1,824$520
43 years$15,124$9,151$5,322$3,001$1,656$455
44 years$14,614$8,722$4,995$2,771$1,503$398
45 years$14,128$8,318$4,690$2,559$1,364$349
46 years$13,665$7,935$4,405$2,364$1,239$305
47 years$13,223$7,572$4,139$2,184$1,125$267
48 years$12,800$7,229$3,889$2,018$1,022$234
49 years$12,396$6,903$3,656$1,865$928$205
50 years$12,009$6,594$3,437$1,724$843$179

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 $5,788 every year, while hoping to spend $51,220 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: 64/18/18 Blend
57$12,300,000$12,300,000$12,300,000$12,300,000
58$13,560,570$12,908,670$12,718,020$14,366,869
59$14,889,251$13,486,697$13,089,576$15,487,070
60$16,351,740$14,091,331$13,471,863$16,703,955
61$17,961,632$14,723,821$13,865,185$18,032,119
62$19,733,907$15,385,477$14,269,857$19,482,430
63$21,685,070$16,077,670$14,686,202$21,066,850
64$23,833,308$16,801,836$15,114,550$22,798,537
65$26,198,662$17,559,483$15,555,244$24,691,976
66$28,803,214$18,352,186$16,008,633$26,763,102
67$31,671,297$19,181,598$16,475,078$29,029,457
68$34,829,725$20,049,452$16,954,948$31,510,348
69$38,308,043$20,957,561$17,448,625$34,227,026
70$42,138,808$21,907,827$17,956,499$37,202,885
71$46,357,897$22,902,241$18,478,973$40,463,678
72$51,004,843$23,942,891$19,016,458$44,037,759
73$56,123,207$25,031,963$19,569,380$47,956,344
74$61,760,995$26,171,750$20,138,175$52,253,803
75$67,971,104$27,364,653$20,723,291$56,967,980
76$74,811,824$28,613,188$21,325,188$62,140,549
77$82,347,389$29,919,993$21,944,341$67,817,397
78$90,648,581$31,287,832$22,581,235$74,049,059
79$99,793,401$32,719,600$23,236,371$80,891,187
80$109,867,800$34,218,332$23,910,262$88,405,069
81$120,966,495$35,787,210$24,603,435$96,658,207
82$133,193,861$37,429,567$25,316,433$105,724,945
83$146,664,914$39,148,895$26,049,814$115,687,165
84$161,506,402$40,948,857$26,804,149$126,635,056
85$177,857,993$42,833,290$27,580,026$138,667,960
86$195,873,602$44,806,215$28,378,051$151,895,302
87$215,722,838$46,871,847$29,198,843$166,437,613
88$237,592,604$49,034,604$30,043,041$182,427,667
89$261,688,866$51,299,117$30,911,300$200,011,725
90$288,238,595$53,670,238$31,804,293$219,350,904
91$317,491,906$56,153,054$32,722,711$240,622,698
92$349,724,423$58,752,896$33,667,264$264,022,636
93$385,239,880$61,475,354$34,638,684$289,766,128
94$424,372,985$64,326,284$35,637,718$318,090,483
95$467,492,585$67,311,827$36,665,136$349,257,142
96$515,005,141$70,438,419$37,721,730$383,554,139
97$567,358,569$73,712,805$38,808,312$421,298,805
98$625,046,469$77,142,058$39,925,716$462,840,756
99$688,612,780$80,733,590$41,074,799$508,565,181
100$758,656,919$84,495,172$42,256,440$558,896,470