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%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$960,607
2 years$506,921$497,480$488,330$479,459$470,854$442,676
3 years$334,590$325,109$315,982$307,194$298,729$271,442
4 years$248,442$238,989$229,954$221,316$213,056$186,870
5 years$196,766$187,371$178,454$169,992$161,962$136,948
6 years$162,327$153,002$144,217$135,944$128,155$104,336
7 years$137,738$128,491$119,845$111,767$104,224$81,601
8 years$119,304$110,140$101,638$93,759$86,464$65,023
9 years$104,974$95,897$87,541$79,861$72,815$52,536
10 years$93,517$84,529$76,320$68,841$62,042$42,897
11 years$84,149$75,251$67,191$59,913$53,358$35,317
12 years$76,348$67,541$59,630$52,551$46,239$29,265
13 years$69,752$61,037$53,276$46,395$40,322$24,378
14 years$64,103$55,481$47,869$41,184$35,346$20,394
15 years$59,212$50,683$43,219$36,729$31,121$17,120
16 years$54,937$46,501$39,184$32,887$27,505$14,413
17 years$51,168$42,826$35,656$29,549$24,388$12,163
18 years$47,822$39,573$32,549$26,629$21,684$10,284
19 years$44,832$36,676$29,797$24,062$19,328$8,710
20 years$42,144$34,081$27,347$21,793$17,264$7,387
21 years$39,715$31,745$25,154$19,778$15,449$6,273
22 years$37,510$29,633$23,183$17,983$13,848$5,332
23 years$35,499$27,715$21,405$16,377$12,431$4,535
24 years$33,659$25,967$19,796$14,937$11,173$3,861
25 years$31,969$24,369$18,335$13,641$10,054$3,289
26 years$30,411$22,903$17,005$12,473$9,056$2,803
27 years$28,972$21,554$15,791$11,417$8,165$2,389
28 years$27,637$20,310$14,680$10,460$7,368$2,038
29 years$26,397$19,160$13,661$9,592$6,653$1,739
30 years$25,241$18,095$12,724$8,803$6,011$1,484
31 years$24,162$17,106$11,863$8,085$5,435$1,266
32 years$23,153$16,186$11,068$7,431$4,916$1,081
33 years$22,207$15,328$10,334$6,833$4,449$923
34 years$21,318$14,527$9,656$6,287$4,028$788
35 years$20,482$13,779$9,027$5,787$3,648$673
36 years$19,694$13,078$8,445$5,330$3,306$575
37 years$18,951$12,421$7,904$4,911$2,996$491
38 years$18,248$11,805$7,402$4,527$2,716$420
39 years$17,583$11,225$6,935$4,174$2,463$359
40 years$16,953$10,680$6,500$3,850$2,234$306
41 years$16,355$10,166$6,095$3,552$2,027$262
42 years$15,787$9,682$5,717$3,278$1,839$224
43 years$15,247$9,225$5,365$3,026$1,669$191
44 years$14,733$8,793$5,036$2,794$1,515$163
45 years$14,243$8,385$4,729$2,580$1,375$140
46 years$13,776$7,999$4,441$2,383$1,249$119
47 years$13,330$7,634$4,172$2,202$1,134$102
48 years$12,904$7,287$3,921$2,035$1,030$87
49 years$12,497$6,959$3,685$1,880$935$74
50 years$12,107$6,648$3,465$1,738$850$64

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 $6,751 every year, while hoping to spend $47,935 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: 45/26/29 Blend
57$12,400,000$12,400,000$12,400,000$12,400,000
58$13,671,764$13,014,564$12,822,364$14,171,998
59$15,015,281$13,601,275$13,200,910$15,115,687
60$16,494,231$14,215,128$13,590,532$16,133,405
61$18,122,376$14,857,403$13,991,548$17,236,281
62$19,914,883$15,529,440$14,404,290$18,432,298
63$21,888,462$16,232,644$14,829,095$19,730,228
64$24,061,527$16,968,486$15,266,312$21,139,710
65$26,454,370$17,738,508$15,716,299$22,671,333
66$29,089,346$18,544,326$16,179,426$24,336,735
67$31,991,095$19,387,633$16,656,072$26,148,710
68$35,186,762$20,270,203$17,146,627$28,121,321
69$38,706,264$21,193,896$17,651,491$30,270,030
70$42,582,565$22,160,658$18,171,077$32,611,840
71$46,851,988$23,172,532$18,705,810$35,165,447
72$51,554,562$24,231,656$19,256,125$37,951,416
73$56,734,393$25,340,274$19,822,472$40,992,366
74$62,440,087$26,500,734$20,405,311$44,313,179
75$68,725,204$27,715,498$21,005,117$47,941,229
76$75,648,764$28,987,146$21,622,377$51,906,634
77$83,275,806$30,318,384$22,257,594$56,242,535
78$91,677,997$31,712,044$22,911,283$60,985,402
79$100,934,317$33,171,097$23,583,975$66,175,366
80$111,131,793$34,698,657$24,276,214$71,856,600
81$122,366,330$36,297,986$24,988,562$78,077,720
82$134,743,612$37,972,504$25,721,595$84,892,240
83$148,380,098$39,725,794$26,475,906$92,359,068
84$163,404,124$41,561,613$27,252,104$100,543,054
85$179,957,111$43,483,899$28,050,817$109,515,589
86$198,194,905$45,496,779$28,872,688$119,355,277
87$218,289,243$47,604,578$29,718,380$130,148,660
88$240,429,374$49,811,831$30,588,574$141,991,030
89$264,823,850$52,123,290$31,483,970$154,987,311
90$291,702,488$54,543,937$32,405,289$169,253,046
91$321,318,545$57,078,994$33,353,270$184,915,472
92$353,951,106$59,733,934$34,328,674$202,114,707
93$389,907,718$62,514,495$35,332,283$221,005,063
94$429,527,292$65,426,692$36,364,902$241,756,489
95$473,183,306$68,476,830$37,427,356$264,556,160
96$521,287,327$71,671,519$38,520,496$289,610,229
97$574,292,896$75,017,685$39,645,194$317,145,759
98$632,699,813$78,522,593$40,802,350$347,412,851
99$697,058,850$82,193,856$41,992,885$380,686,987
100$767,976,953$86,039,456$43,217,747$417,271,613