Can I retire at age 58 with 7,900,000?

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$652,375$646,564$640,894$635,360$629,957$606,160
2 years$322,958$316,943$311,114$305,462$299,980$276,281
3 years$213,166$207,126$201,311$195,712$190,319$167,464
4 years$158,282$152,259$146,503$141,000$135,737$113,900
5 years$125,359$119,373$113,692$108,301$103,185$82,423
6 years$103,418$97,477$91,880$86,609$81,647$61,973
7 years$87,752$81,861$76,353$71,206$66,401$47,810
8 years$76,008$70,170$64,753$59,733$55,086$37,561
9 years$66,878$61,096$55,772$50,879$46,390$29,906
10 years$59,579$53,853$48,623$43,859$39,527$24,053
11 years$53,611$47,942$42,807$38,170$33,994$19,497
12 years$48,641$43,030$37,990$33,480$29,459$15,901
13 years$44,439$38,887$33,942$29,558$25,689$13,031
14 years$40,840$35,347$30,497$26,238$22,519$10,721
15 years$37,724$32,290$27,535$23,400$19,827$8,848
16 years$35,000$29,626$24,964$20,952$17,523$7,321
17 years$32,599$27,284$22,716$18,825$15,537$6,070
18 years$30,467$25,212$20,737$16,965$13,815$5,041
19 years$28,562$23,366$18,984$15,330$12,314$4,193
20 years$26,850$21,713$17,422$13,884$10,999$3,491
21 years$25,302$20,225$16,025$12,601$9,843$2,910
22 years$23,897$18,879$14,770$11,457$8,823$2,428
23 years$22,617$17,657$13,637$10,434$7,920$2,026
24 years$21,444$16,544$12,612$9,516$7,118$1,692
25 years$20,367$15,525$11,681$8,691$6,405$1,414
26 years$19,375$14,591$10,834$7,947$5,770$1,182
27 years$18,458$13,732$10,060$7,274$5,202$988
28 years$17,607$12,940$9,352$6,664$4,694$827
29 years$16,817$12,207$8,703$6,111$4,238$692
30 years$16,081$11,528$8,107$5,609$3,830$579
31 years$15,394$10,898$7,558$5,151$3,462$484
32 years$14,751$10,312$7,051$4,734$3,132$405
33 years$14,148$9,765$6,584$4,353$2,834$339
34 years$13,582$9,255$6,152$4,005$2,566$284
35 years$13,049$8,779$5,751$3,687$2,324$238
36 years$12,547$8,332$5,380$3,396$2,106$199
37 years$12,073$7,914$5,036$3,129$1,909$167
38 years$11,626$7,521$4,716$2,884$1,730$140
39 years$11,202$7,152$4,418$2,659$1,569$117
40 years$10,801$6,804$4,141$2,453$1,423$98
41 years$10,420$6,477$3,883$2,263$1,291$82
42 years$10,058$6,168$3,642$2,088$1,172$69
43 years$9,714$5,877$3,418$1,928$1,063$57
44 years$9,386$5,602$3,208$1,780$965$48
45 years$9,074$5,342$3,013$1,644$876$40
46 years$8,777$5,096$2,829$1,518$796$34
47 years$8,493$4,863$2,658$1,403$722$28
48 years$8,221$4,643$2,498$1,296$656$24
49 years$7,962$4,434$2,348$1,198$596$20
50 years$7,713$4,235$2,207$1,107$541$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,900,000, adding $2,921 every year, while hoping to spend $31,002 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: 56/22/22 Blend
57$7,900,000$7,900,000$7,900,000$7,900,000
58$8,708,813$8,290,113$8,167,663$9,144,430
59$9,564,126$8,663,343$8,408,294$9,815,816
60$10,505,642$9,053,822$8,655,947$10,543,346
61$11,542,121$9,462,362$8,910,824$11,335,293
62$12,683,215$9,889,815$9,173,135$12,197,858
63$13,939,560$10,337,074$9,443,092$13,137,858
64$15,322,876$10,805,071$9,720,917$14,162,792
65$16,846,077$11,294,788$10,006,835$15,280,907
66$18,523,393$11,807,248$10,301,080$16,501,275
67$20,370,505$12,343,529$10,603,891$17,833,874
68$22,404,690$12,904,755$10,915,515$19,289,684
69$24,644,988$13,492,108$11,236,205$20,880,785
70$27,112,380$14,106,824$11,566,221$22,620,469
71$29,829,984$14,750,200$11,905,831$24,523,362
72$32,823,276$15,423,594$12,255,310$26,605,563
73$36,120,329$16,128,429$12,614,942$28,884,789
74$39,752,078$16,866,197$12,985,017$31,380,540
75$43,752,610$17,638,461$13,365,836$34,114,283
76$48,159,490$18,446,859$13,757,705$37,109,647
77$53,014,111$19,293,109$14,160,941$40,392,644
78$58,362,088$20,179,009$14,575,870$43,991,915
79$64,253,685$21,106,444$15,002,826$47,938,989
80$70,744,294$22,077,393$15,442,153$52,268,584
81$77,894,951$23,093,924$15,894,205$57,018,925
82$85,772,920$24,158,210$16,359,344$62,232,107
83$94,452,320$25,272,526$16,837,946$67,954,480
84$104,014,833$26,439,255$17,330,393$74,237,088
85$114,550,466$27,660,899$17,837,081$81,136,144
86$126,158,406$28,940,075$18,358,416$88,713,555
87$138,947,955$30,279,531$18,894,814$97,037,503
88$153,039,563$31,682,144$19,446,707$106,183,081
89$168,565,960$33,150,930$20,014,533$116,232,997
90$185,673,415$34,689,053$20,598,747$127,278,348
91$204,523,113$36,299,826$21,199,814$139,419,477
92$225,292,676$37,986,724$21,818,215$152,766,909
93$248,177,844$39,753,388$22,454,440$167,442,391
94$273,394,316$41,603,637$23,108,996$183,580,032
95$301,179,792$43,541,470$23,782,403$201,327,562
96$331,796,213$45,571,085$24,475,195$220,847,721
97$365,532,236$47,696,877$25,187,923$242,319,785
98$402,705,956$49,923,456$25,921,151$265,941,250
99$443,667,913$52,255,655$26,675,459$291,929,686
100$488,804,397$54,698,539$27,451,444$320,524,788