Can I retire at age 58 with 16,400,000?

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 $16,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$1,354,297$1,342,233$1,330,464$1,318,976$1,307,759$1,291,417
2 years$670,444$657,958$645,856$634,123$622,742$606,299
3 years$442,523$429,982$417,912$406,289$395,093$379,059
4 years$328,585$316,083$304,133$292,708$281,784$266,283
5 years$260,239$247,813$236,019$224,828$214,208$199,284
6 years$214,691$202,358$190,739$179,797$169,495$155,168
7 years$182,169$169,940$158,505$147,821$137,845$124,119
8 years$157,789$145,670$134,425$124,003$114,356$101,230
9 years$138,836$126,832$115,780$105,623$96,304$83,773
10 years$123,683$111,796$100,940$91,048$82,056$70,110
11 years$111,293$99,525$88,866$79,239$70,571$59,200
12 years$100,976$89,329$78,866$69,503$61,155$50,347
13 years$92,252$80,727$70,462$61,361$53,328$43,069
14 years$84,782$73,379$63,310$54,470$46,747$37,022
15 years$78,313$67,033$57,160$48,577$41,160$31,952
16 years$72,658$61,501$51,824$43,496$36,377$27,670
17 years$67,674$56,640$47,158$39,081$32,255$24,031
18 years$63,249$52,338$43,049$35,219$28,679$20,922
19 years$59,294$48,506$39,409$31,824$25,563$18,253
20 years$55,738$45,075$36,168$28,823$22,833$15,954
21 years$52,526$41,985$33,268$26,158$20,433$13,966
22 years$49,610$39,192$30,661$23,784$18,315$12,242
23 years$46,951$36,655$28,310$21,660$16,441$10,743
24 years$44,517$34,343$26,182$19,756$14,777$9,438
25 years$42,282$32,230$24,250$18,042$13,297$8,299
26 years$40,222$30,291$22,491$16,497$11,978$7,302
27 years$38,317$28,507$20,885$15,100$10,799$6,430
28 years$36,552$26,862$19,415$13,835$9,744$5,665
29 years$34,912$25,341$18,067$12,687$8,799$4,994
30 years$33,383$23,932$16,829$11,643$7,950$4,405
31 years$31,956$22,624$15,689$10,693$7,188$3,886
32 years$30,621$21,407$14,638$9,827$6,502$3,430
33 years$29,370$20,273$13,668$9,037$5,884$3,028
34 years$28,195$19,214$12,770$8,315$5,327$2,674
35 years$27,089$18,224$11,939$7,654$4,825$2,362
36 years$26,047$17,297$11,169$7,049$4,372$2,087
37 years$25,064$16,428$10,454$6,495$3,962$1,844
38 years$24,134$15,613$9,790$5,987$3,592$1,630
39 years$23,255$14,846$9,172$5,520$3,258$1,441
40 years$22,421$14,125$8,597$5,091$2,955$1,274
41 years$21,631$13,446$8,061$4,698$2,681$1,126
42 years$20,880$12,805$7,562$4,335$2,432$996
43 years$20,165$12,201$7,096$4,002$2,208$881
44 years$19,486$11,630$6,660$3,695$2,004$779
45 years$18,838$11,090$6,254$3,413$1,819$689
46 years$18,220$10,580$5,874$3,152$1,652$610
47 years$17,630$10,096$5,518$2,912$1,500$539
48 years$17,067$9,638$5,186$2,691$1,362$477
49 years$16,528$9,204$4,874$2,487$1,237$422
50 years$16,012$8,792$4,582$2,299$1,124$373

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $16,400,000, adding $4,989 every year, while hoping to spend $43,104 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: 79/6/15 Blend
57$16,400,000$16,400,000$16,400,000$16,400,000
58$18,077,946$17,208,746$16,954,546$19,449,340
59$19,876,034$18,006,112$17,476,661$21,150,363
60$21,856,083$18,841,105$18,014,822$23,010,264
61$24,036,606$19,715,522$18,569,522$25,049,744
62$26,438,006$20,631,248$19,141,266$27,286,761
63$29,082,763$21,590,260$19,730,579$29,741,093
64$31,995,649$22,594,627$20,337,998$32,434,518
65$35,203,963$23,646,521$20,964,079$35,391,026
66$38,737,785$24,748,219$21,609,393$38,637,035
67$42,630,261$25,902,104$22,274,530$42,201,645
68$46,917,919$27,110,678$22,960,098$46,116,906
69$51,641,008$28,376,563$23,666,723$50,418,121
70$56,843,883$29,702,506$24,395,050$55,144,178
71$62,575,418$31,091,388$25,145,743$60,337,910
72$68,889,474$32,546,229$25,919,489$66,046,504
73$75,845,402$34,070,196$26,716,993$72,321,939
74$83,508,604$35,666,607$27,538,984$79,221,474
75$91,951,152$37,338,941$28,386,210$86,808,189
76$101,252,468$39,090,847$29,259,446$95,151,577
77$111,500,070$40,926,149$30,159,488$104,328,194
78$122,790,402$42,848,856$31,087,156$114,422,382
79$135,229,745$44,863,171$32,043,297$125,527,062
80$148,935,214$46,973,501$33,028,783$137,744,606
81$164,035,869$49,184,467$34,044,511$151,187,802
82$180,673,934$51,500,912$35,091,408$165,980,914
83$199,006,133$53,927,914$36,170,428$182,260,851
84$219,205,175$56,470,799$37,282,554$200,178,459
85$241,461,383$59,135,147$38,428,799$219,899,937
86$265,984,488$61,926,814$39,610,208$241,608,404
87$293,005,612$64,851,934$40,827,856$265,505,622
88$322,779,448$67,916,943$42,082,853$291,813,901
89$355,586,665$71,128,585$43,376,341$320,778,186
90$391,736,554$74,493,935$44,709,498$352,668,368
91$431,569,953$78,020,409$46,083,537$387,781,830
92$475,462,462$81,715,783$47,499,709$426,446,245
93$523,827,986$85,588,209$48,959,303$469,022,663
94$577,122,647$89,646,238$50,463,646$515,908,919
95$635,849,086$93,898,833$52,014,107$567,543,380
96$700,561,210$98,355,392$53,612,097$624,409,075
97$771,869,419$103,025,772$55,259,067$687,038,254
98$850,446,371$107,920,306$56,956,517$756,017,401
99$937,033,329$113,049,829$58,705,989$831,992,768
100$1,032,447,162$118,425,704$60,509,073$915,676,466