Can I retire at age 58 with 16,000,000?

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 $16,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,228,153
2 years$654,092$641,910$630,104$618,657$607,554$560,033
3 years$431,730$419,495$407,719$396,379$385,457$339,621
4 years$320,570$308,373$296,715$285,569$274,911$231,108
5 years$253,892$241,768$230,263$219,344$208,983$167,327
6 years$209,455$197,422$186,087$175,411$165,361$125,882
7 years$177,726$165,795$154,639$144,215$134,483$97,169
8 years$153,940$142,117$131,146$120,979$111,567$76,383
9 years$135,450$123,738$112,956$103,047$93,955$60,854
10 years$120,667$109,069$98,478$88,828$80,054$48,975
11 years$108,579$97,098$86,698$77,307$68,850$39,724
12 years$98,513$87,150$76,942$67,808$59,664$32,419
13 years$90,002$78,758$68,743$59,865$52,028$26,586
14 years$82,714$71,589$61,766$53,141$45,607$21,888
15 years$76,403$65,398$55,766$47,392$40,156$18,077
16 years$70,886$60,001$50,560$42,435$35,490$14,968
17 years$66,023$55,259$46,008$38,127$31,468$12,419
18 years$61,706$51,062$41,999$34,360$27,980$10,323
19 years$57,847$47,323$38,448$31,048$24,939$8,592
20 years$54,379$43,975$35,286$28,120$22,276$7,160
21 years$51,245$40,961$32,456$25,520$19,935$5,973
22 years$48,400$38,236$29,913$23,204$17,869$4,986
23 years$45,806$35,761$27,620$21,132$16,040$4,165
24 years$43,431$33,506$25,544$19,274$14,417$3,482
25 years$41,250$31,444$23,659$17,602$12,973$2,911
26 years$39,241$29,552$21,942$16,094$11,686$2,436
27 years$37,383$27,812$20,375$14,731$10,536$2,038
28 years$35,661$26,207$18,941$13,497$9,506$1,706
29 years$34,060$24,723$17,627$12,377$8,584$1,428
30 years$32,569$23,348$16,418$11,359$7,756$1,196
31 years$31,177$22,072$15,306$10,433$7,012$1,002
32 years$29,875$20,885$14,281$9,588$6,343$839
33 years$28,654$19,778$13,334$8,817$5,741$703
34 years$27,507$18,745$12,459$8,112$5,197$589
35 years$26,428$17,779$11,648$7,468$4,708$494
36 years$25,412$16,875$10,897$6,878$4,265$414
37 years$24,452$16,028$10,199$6,337$3,866$347
38 years$23,546$15,232$9,551$5,841$3,505$290
39 years$22,688$14,484$8,948$5,385$3,178$243
40 years$21,875$13,780$8,387$4,967$2,883$204
41 years$21,103$13,118$7,864$4,583$2,615$171
42 years$20,370$12,493$7,377$4,230$2,373$143
43 years$19,674$11,903$6,922$3,904$2,154$120
44 years$19,010$11,346$6,498$3,605$1,955$101
45 years$18,378$10,820$6,101$3,329$1,775$84
46 years$17,776$10,322$5,731$3,075$1,611$71
47 years$17,200$9,850$5,384$2,841$1,463$59
48 years$16,650$9,403$5,059$2,625$1,329$50
49 years$16,125$8,979$4,755$2,426$1,207$42
50 years$15,622$8,577$4,471$2,243$1,096$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $16,000,000, adding $6,998 every year, while hoping to spend $27,380 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: 29/49/22 Blend
57$16,000,000$16,000,000$16,000,000$16,000,000
58$17,639,218$16,791,218$16,543,218$18,028,987
59$19,409,287$17,584,856$17,068,284$19,124,203
60$21,358,984$18,416,464$17,610,022$20,297,973
61$23,506,604$19,287,875$18,168,961$21,559,367
62$25,872,305$20,201,008$18,745,649$22,915,938
63$28,478,300$21,157,877$19,340,648$24,375,949
64$31,349,068$22,160,595$19,954,541$25,948,440
65$34,511,583$23,211,373$20,587,928$27,643,306
66$37,995,569$24,312,535$21,241,428$29,471,380
67$41,833,781$25,466,513$21,915,680$31,444,526
68$46,062,314$26,675,861$22,611,343$33,575,742
69$50,720,946$27,943,253$23,329,098$35,879,270
70$55,853,506$29,271,496$24,069,647$38,370,718
71$61,508,296$30,663,532$24,833,713$41,067,201
72$67,738,544$32,122,446$25,622,044$43,987,484
73$74,602,903$33,651,474$26,435,410$47,152,151
74$82,166,011$35,254,008$27,274,608$50,583,782
75$90,499,094$36,933,605$28,140,457$54,307,155
76$99,680,645$38,693,994$29,033,806$58,349,466
77$109,797,159$40,539,088$29,955,526$62,740,565
78$120,943,954$42,472,988$30,906,521$67,513,226
79$133,226,067$44,499,995$31,887,720$72,703,442
80$146,759,250$46,624,619$32,900,082$78,350,739
81$161,671,057$48,851,589$33,944,599$84,498,539
82$178,102,053$51,185,865$35,022,291$91,194,543
83$196,207,138$53,632,648$36,134,214$98,491,169
84$216,157,010$56,197,392$37,281,454$106,446,019
85$238,139,777$58,885,815$38,465,134$115,122,403
86$262,362,730$61,703,916$39,686,412$124,589,913
87$289,054,304$64,657,984$40,946,482$134,925,059
88$318,466,232$67,754,614$42,246,579$146,211,958
89$350,875,921$71,000,723$43,587,972$158,543,109
90$386,589,072$74,403,565$44,971,976$172,020,235
91$425,942,563$77,970,746$46,399,943$186,755,214
92$469,307,636$81,710,243$47,873,272$202,871,104
93$517,093,391$85,630,422$49,393,404$220,503,275
94$569,750,660$89,740,056$50,961,826$239,800,651
95$627,776,253$94,048,344$52,580,072$260,927,080
96$691,717,654$98,564,936$54,249,728$284,062,846
97$762,178,187$103,299,950$55,972,426$309,406,334
98$839,822,712$108,263,998$57,749,852$337,175,857
99$925,383,903$113,468,208$59,583,746$367,611,678
100$1,019,669,162$118,924,251$61,475,903$400,978,235