Can I retire at age 58 with 7,800,000?

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 $7,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$644,117$638,379$632,782$627,318$621,983$604,496
2 years$318,870$312,931$307,176$301,595$296,182$278,698
3 years$210,468$204,504$198,763$193,235$187,910$170,976
4 years$156,278$150,332$144,648$139,215$134,019$117,765
5 years$123,772$117,862$112,253$106,930$101,879$86,350
6 years$102,109$96,243$90,717$85,513$80,614$65,823
7 years$86,641$80,825$75,386$70,305$65,560$51,509
8 years$75,046$69,282$63,934$58,977$54,389$41,069
9 years$66,032$60,322$55,066$50,235$45,803$33,202
10 years$58,825$53,171$48,008$43,303$39,027$27,128
11 years$52,932$47,335$42,265$37,687$33,564$22,348
12 years$48,025$42,486$37,509$33,057$29,086$18,531
13 years$43,876$38,395$33,512$29,184$25,364$15,447
14 years$40,323$34,900$30,111$25,906$22,234$12,931
15 years$37,246$31,881$27,186$23,104$19,576$10,863
16 years$34,557$29,251$24,648$20,687$17,301$9,152
17 years$32,186$26,939$22,429$18,587$15,341$7,729
18 years$30,082$24,893$20,475$16,751$13,640$6,540
19 years$28,201$23,070$18,744$15,136$12,158$5,543
20 years$26,510$21,438$17,202$13,708$10,860$4,705
21 years$24,982$19,969$15,822$12,441$9,718$3,998
22 years$23,595$18,640$14,583$11,312$8,711$3,401
23 years$22,330$17,434$13,465$10,302$7,819$2,895
24 years$21,173$16,334$12,453$9,396$7,028$2,467
25 years$20,110$15,329$11,534$8,581$6,324$2,103
26 years$19,130$14,407$10,697$7,846$5,697$1,793
27 years$18,224$13,558$9,933$7,182$5,136$1,530
28 years$17,384$12,776$9,234$6,580$4,634$1,306
29 years$16,604$12,053$8,593$6,034$4,185$1,115
30 years$15,877$11,382$8,004$5,538$3,781$953
31 years$15,199$10,760$7,462$5,086$3,419$814
32 years$14,564$10,181$6,962$4,674$3,092$695
33 years$13,969$9,642$6,501$4,298$2,799$594
34 years$13,410$9,138$6,074$3,955$2,534$508
35 years$12,884$8,667$5,678$3,640$2,295$434
36 years$12,388$8,227$5,312$3,353$2,079$371
37 years$11,921$7,813$4,972$3,089$1,885$317
38 years$11,479$7,426$4,656$2,847$1,709$271
39 years$11,060$7,061$4,362$2,625$1,549$232
40 years$10,664$6,718$4,089$2,422$1,405$198
41 years$10,288$6,395$3,834$2,234$1,275$170
42 years$9,931$6,090$3,596$2,062$1,157$145
43 years$9,591$5,803$3,375$1,903$1,050$124
44 years$9,268$5,531$3,168$1,757$953$106
45 years$8,959$5,275$2,974$1,623$865$91
46 years$8,666$5,032$2,794$1,499$786$78
47 years$8,385$4,802$2,625$1,385$713$66
48 years$8,117$4,584$2,466$1,280$648$57
49 years$7,861$4,377$2,318$1,183$588$49
50 years$7,616$4,182$2,179$1,093$534$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,800,000, adding $3,410 every year, while hoping to spend $40,979 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: 74/11/15 Blend
57$7,800,000$7,800,000$7,800,000$7,800,000
58$8,599,117$8,185,717$8,064,817$9,206,904
59$9,432,626$8,543,216$8,291,387$9,967,037
60$10,349,779$8,916,859$8,524,174$10,794,277
61$11,359,065$9,307,394$8,763,343$11,699,593
62$12,469,837$9,715,603$9,009,062$12,690,726
63$13,692,400$10,142,307$9,261,505$13,776,204
64$15,038,110$10,588,366$9,520,850$14,965,413
65$16,519,478$11,054,677$9,787,280$16,268,687
66$18,150,292$11,542,183$10,060,981$17,697,409
67$19,945,742$12,051,870$10,342,144$19,264,110
68$21,922,568$12,584,772$10,630,966$20,982,589
69$24,099,214$13,141,970$10,927,648$22,868,045
70$26,496,006$13,724,598$11,232,396$24,937,214
71$29,135,338$14,333,843$11,545,421$27,208,530
72$32,041,890$14,970,949$11,866,939$29,702,295
73$35,242,854$15,637,217$12,197,173$32,440,869
74$38,768,197$16,334,012$12,536,350$35,448,882
75$42,650,937$17,062,763$12,884,702$38,753,461
76$46,927,461$17,824,967$13,242,468$42,384,488
77$51,637,864$18,622,192$13,609,893$46,374,878
78$56,826,327$19,456,080$13,987,225$50,760,891
79$62,541,538$20,328,354$14,374,723$55,582,467
80$68,837,146$21,240,815$14,772,648$60,883,607
81$75,772,273$22,195,352$15,181,269$66,712,780
82$83,412,065$23,193,944$15,600,861$73,123,386
83$91,828,312$24,238,665$16,031,707$80,174,251
84$101,100,126$25,331,685$16,474,096$87,930,183
85$111,314,683$26,475,282$16,928,322$96,462,582
86$122,568,048$27,671,838$17,394,688$105,850,109
87$134,966,084$28,923,853$17,873,505$116,179,430
88$148,625,446$30,233,943$18,365,088$127,546,027
89$163,674,687$31,604,851$18,869,764$140,055,098
90$180,255,468$33,039,452$19,387,864$153,822,550
91$198,523,896$34,540,756$19,919,729$168,976,084
92$218,651,999$36,111,919$20,465,705$185,656,404
93$240,829,346$37,756,246$21,026,149$204,018,538
94$265,264,840$39,477,203$21,601,426$224,233,297
95$292,188,688$41,278,420$22,191,909$246,488,887
96$321,854,574$43,163,703$22,797,977$270,992,683
97$354,542,054$45,137,037$23,420,022$297,973,176
98$390,559,193$47,202,601$24,058,443$327,682,132
99$430,245,476$49,364,775$24,713,646$360,396,964
100$473,975,012$51,628,146$25,386,051$396,423,344