Can I retire at age 58 with 12,400,000?

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 $12,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$979,691
2 years$506,921$497,480$488,330$479,459$470,854$461,683
3 years$334,590$325,109$315,982$307,194$298,729$289,774
4 years$248,442$238,989$229,954$221,316$213,056$204,385
5 years$196,766$187,371$178,454$169,992$161,962$153,601
6 years$162,327$153,002$144,217$135,944$128,155$120,115
7 years$137,738$128,491$119,845$111,767$104,224$96,509
8 years$119,304$110,140$101,638$93,759$86,464$79,072
9 years$104,974$95,897$87,541$79,861$72,815$65,745
10 years$93,517$84,529$76,320$68,841$62,042$55,289
11 years$84,149$75,251$67,191$59,913$53,358$46,918
12 years$76,348$67,541$59,630$52,551$46,239$40,104
13 years$69,752$61,037$53,276$46,395$40,322$34,485
14 years$64,103$55,481$47,869$41,184$35,346$29,801
15 years$59,212$50,683$43,219$36,729$31,121$25,859
16 years$54,937$46,501$39,184$32,887$27,505$22,518
17 years$51,168$42,826$35,656$29,549$24,388$19,666
18 years$47,822$39,573$32,549$26,629$21,684$17,220
19 years$44,832$36,676$29,797$24,062$19,328$15,111
20 years$42,144$34,081$27,347$21,793$17,264$13,285
21 years$39,715$31,745$25,154$19,778$15,449$11,699
22 years$37,510$29,633$23,183$17,983$13,848$10,317
23 years$35,499$27,715$21,405$16,377$12,431$9,110
24 years$33,659$25,967$19,796$14,937$11,173$8,053
25 years$31,969$24,369$18,335$13,641$10,054$7,125
26 years$30,411$22,903$17,005$12,473$9,056$6,309
27 years$28,972$21,554$15,791$11,417$8,165$5,591
28 years$27,637$20,310$14,680$10,460$7,368$4,958
29 years$26,397$19,160$13,661$9,592$6,653$4,399
30 years$25,241$18,095$12,724$8,803$6,011$3,905
31 years$24,162$17,106$11,863$8,085$5,435$3,468
32 years$23,153$16,186$11,068$7,431$4,916$3,081
33 years$22,207$15,328$10,334$6,833$4,449$2,739
34 years$21,318$14,527$9,656$6,287$4,028$2,435
35 years$20,482$13,779$9,027$5,787$3,648$2,165
36 years$19,694$13,078$8,445$5,330$3,306$1,926
37 years$18,951$12,421$7,904$4,911$2,996$1,714
38 years$18,248$11,805$7,402$4,527$2,716$1,525
39 years$17,583$11,225$6,935$4,174$2,463$1,357
40 years$16,953$10,680$6,500$3,850$2,234$1,208
41 years$16,355$10,166$6,095$3,552$2,027$1,076
42 years$15,787$9,682$5,717$3,278$1,839$958
43 years$15,247$9,225$5,365$3,026$1,669$853
44 years$14,733$8,793$5,036$2,794$1,515$759
45 years$14,243$8,385$4,729$2,580$1,375$676
46 years$13,776$7,999$4,441$2,383$1,249$603
47 years$13,330$7,634$4,172$2,202$1,134$537
48 years$12,904$7,287$3,921$2,035$1,030$478
49 years$12,497$6,959$3,685$1,880$935$426
50 years$12,107$6,648$3,465$1,738$850$379

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $12,400,000, adding $5,277 every year, while hoping to spend $54,479 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: 32/40/28 Blend
57$12,400,000$12,400,000$12,400,000$12,400,000
58$13,670,243$13,013,043$12,820,843$13,990,708
59$15,006,643$13,592,717$13,192,376$14,816,628
60$16,477,529$14,198,969$13,574,530$15,700,405
61$18,096,563$14,833,044$13,967,602$16,651,262
62$19,878,795$15,496,246$14,371,899$17,675,143
63$21,840,811$16,189,941$14,787,737$18,778,561
64$24,000,885$16,915,559$15,215,437$19,968,655
65$26,379,155$17,674,601$15,655,334$21,253,251
66$28,997,809$18,468,637$16,107,768$22,640,931
67$31,881,297$19,299,312$16,573,090$24,141,110
68$35,056,560$20,168,349$17,051,660$25,764,116
69$38,553,287$21,077,556$17,543,848$27,521,283
70$42,404,190$22,028,824$18,050,035$29,425,051
71$46,645,317$23,024,136$18,570,610$31,489,078
72$51,316,390$24,065,569$19,105,976$33,728,357
73$56,461,179$25,155,300$19,656,544$36,159,359
74$62,127,919$26,295,609$20,222,737$38,800,170
75$68,369,758$27,488,885$20,804,991$41,670,663
76$75,245,266$28,737,633$21,403,750$44,792,670
77$82,818,982$30,044,476$22,019,475$48,190,186
78$91,162,026$31,412,163$22,652,635$51,889,579
79$100,352,769$32,843,576$23,303,715$55,919,836
80$110,477,573$34,341,732$23,973,211$60,312,821
81$121,631,605$35,909,796$24,661,633$65,103,570
82$133,919,735$37,551,083$25,369,504$70,330,606
83$147,457,529$39,269,067$26,097,363$76,036,297
84$162,372,333$41,067,388$26,845,762$82,267,238
85$178,804,484$42,949,862$27,615,267$89,074,681
86$196,908,624$44,920,488$28,406,461$96,515,007
87$216,855,167$46,983,456$29,219,942$104,650,243
88$238,831,907$49,143,159$30,056,323$113,548,632
89$263,045,787$51,404,198$30,916,234$123,285,264
90$289,724,852$53,771,399$31,800,323$133,942,770
91$319,120,406$56,249,816$32,709,253$145,612,083
92$351,509,381$58,844,751$33,643,706$158,393,281
93$387,196,950$61,561,756$34,604,383$172,396,514
94$426,519,410$64,406,653$35,592,001$187,743,025
95$469,847,354$67,385,543$36,607,297$204,566,274
96$517,589,172$70,504,823$37,651,030$223,013,177
97$570,194,904$73,771,195$38,723,975$243,245,475
98$628,160,486$77,191,686$39,826,931$265,441,235
99$692,032,438$80,773,661$40,960,715$289,796,508
100$762,413,015$84,524,839$42,126,167$316,527,157