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

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 $12,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$958,677
2 years$506,921$497,480$488,330$479,459$470,854$440,771
3 years$334,590$325,109$315,982$307,194$298,729$269,623
4 years$248,442$238,989$229,954$221,316$213,056$185,149
5 years$196,766$187,371$178,454$169,992$161,962$135,330
6 years$162,327$153,002$144,217$135,944$128,155$102,822
7 years$137,738$128,491$119,845$111,767$104,224$80,188
8 years$119,304$110,140$101,638$93,759$86,464$63,710
9 years$104,974$95,897$87,541$79,861$72,815$51,319
10 years$93,517$84,529$76,320$68,841$62,042$41,772
11 years$84,149$75,251$67,191$59,913$53,358$34,280
12 years$76,348$67,541$59,630$52,551$46,239$28,313
13 years$69,752$61,037$53,276$46,395$40,322$23,505
14 years$64,103$55,481$47,869$41,184$35,346$19,595
15 years$59,212$50,683$43,219$36,729$31,121$16,392
16 years$54,937$46,501$39,184$32,887$27,505$13,750
17 years$51,168$42,826$35,656$29,549$24,388$11,561
18 years$47,822$39,573$32,549$26,629$21,684$9,739
19 years$44,832$36,676$29,797$24,062$19,328$8,218
20 years$42,144$34,081$27,347$21,793$17,264$6,943
21 years$39,715$31,745$25,154$19,778$15,449$5,873
22 years$37,510$29,633$23,183$17,983$13,848$4,972
23 years$35,499$27,715$21,405$16,377$12,431$4,213
24 years$33,659$25,967$19,796$14,937$11,173$3,572
25 years$31,969$24,369$18,335$13,641$10,054$3,031
26 years$30,411$22,903$17,005$12,473$9,056$2,572
27 years$28,972$21,554$15,791$11,417$8,165$2,184
28 years$27,637$20,310$14,680$10,460$7,368$1,855
29 years$26,397$19,160$13,661$9,592$6,653$1,576
30 years$25,241$18,095$12,724$8,803$6,011$1,340
31 years$24,162$17,106$11,863$8,085$5,435$1,139
32 years$23,153$16,186$11,068$7,431$4,916$968
33 years$22,207$15,328$10,334$6,833$4,449$823
34 years$21,318$14,527$9,656$6,287$4,028$700
35 years$20,482$13,779$9,027$5,787$3,648$596
36 years$19,694$13,078$8,445$5,330$3,306$507
37 years$18,951$12,421$7,904$4,911$2,996$431
38 years$18,248$11,805$7,402$4,527$2,716$367
39 years$17,583$11,225$6,935$4,174$2,463$312
40 years$16,953$10,680$6,500$3,850$2,234$265
41 years$16,355$10,166$6,095$3,552$2,027$226
42 years$15,787$9,682$5,717$3,278$1,839$192
43 years$15,247$9,225$5,365$3,026$1,669$163
44 years$14,733$8,793$5,036$2,794$1,515$139
45 years$14,243$8,385$4,729$2,580$1,375$118
46 years$13,776$7,999$4,441$2,383$1,249$101
47 years$13,330$7,634$4,172$2,202$1,134$86
48 years$12,904$7,287$3,921$2,035$1,030$73
49 years$12,497$6,959$3,685$1,880$935$62
50 years$12,107$6,648$3,465$1,738$850$53

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 $5,739 every year, while hoping to spend $37,586 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: 72/19/9 Blend
57$12,400,000$12,400,000$12,400,000$12,400,000
58$13,670,720$13,013,520$12,821,320$14,632,688
59$15,025,142$13,611,191$13,210,843$15,866,632
60$16,516,456$14,236,888$13,612,155$17,212,043
61$18,158,584$14,891,946$14,025,612$18,684,102
62$19,966,869$15,577,760$14,451,579$20,295,293
63$21,958,216$16,295,797$14,890,434$22,059,359
64$24,151,255$17,047,592$15,342,564$23,991,421
65$26,566,512$17,834,754$15,808,370$26,108,125
66$29,226,609$18,658,969$16,288,262$28,427,794
67$32,156,470$19,522,005$16,782,666$30,970,596
68$35,383,562$20,425,716$17,292,018$33,758,735
69$38,938,153$21,372,044$17,816,768$36,816,654
70$42,853,594$22,363,023$18,357,379$40,171,266
71$47,166,638$23,400,789$18,914,329$43,852,202
72$51,917,786$24,487,578$19,488,109$47,892,086
73$57,151,664$25,625,734$20,079,225$52,326,845
74$62,917,454$26,817,715$20,688,200$57,196,038
75$69,269,348$28,066,097$21,315,568$62,543,227
76$76,267,067$29,373,581$21,961,885$68,416,386
77$83,976,418$30,742,997$22,627,719$74,868,347
78$92,469,922$32,177,313$23,313,656$81,957,298
79$101,827,493$33,679,639$24,020,302$89,747,321
80$112,137,193$35,253,238$24,748,278$98,308,997
81$123,496,066$36,901,526$25,498,225$107,720,065
82$136,011,053$38,628,088$26,270,803$118,066,152
83$149,799,997$40,436,681$27,066,692$129,441,573
84$164,992,761$42,331,244$27,886,591$141,950,215
85$181,732,452$44,315,904$28,731,221$155,706,516
86$200,176,771$46,394,992$29,601,325$170,836,534
87$220,499,499$48,573,044$30,497,667$187,479,130
88$242,892,144$50,854,819$31,421,035$205,787,275
89$267,565,741$53,245,304$32,372,239$225,929,484
90$294,752,852$55,749,729$33,352,114$248,091,399
91$324,709,753$58,373,576$34,361,520$272,477,534
92$357,718,860$61,122,593$35,401,343$299,313,197
93$394,091,390$64,002,806$36,472,494$328,846,606
94$434,170,302$67,020,534$37,575,913$361,351,226
95$478,333,533$70,182,400$38,712,566$397,128,337
96$526,997,566$73,495,351$39,883,450$436,509,872
97$580,621,362$76,966,667$41,089,590$479,861,534
98$639,710,692$80,603,985$42,332,042$527,586,243
99$704,822,910$84,415,308$43,611,893$580,127,924
100$776,572,220$88,409,031$44,930,264$637,975,687