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

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 $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%17.6%
1 years$652,375$646,564$640,894$635,360$629,957$610,525
2 years$322,958$316,943$311,114$305,462$299,980$280,572
3 years$213,166$207,126$201,311$195,712$190,319$171,545
4 years$158,282$152,259$146,503$141,000$135,737$117,740
5 years$125,359$119,373$113,692$108,301$103,185$86,014
6 years$103,418$97,477$91,880$86,609$81,647$65,316
7 years$87,752$81,861$76,353$71,206$66,401$50,910
8 years$76,008$70,170$64,753$59,733$55,086$40,424
9 years$66,878$61,096$55,772$50,879$46,390$32,542
10 years$59,579$53,853$48,623$43,859$39,527$26,472
11 years$53,611$47,942$42,807$38,170$33,994$21,710
12 years$48,641$43,030$37,990$33,480$29,459$17,919
13 years$44,439$38,887$33,942$29,558$25,689$14,866
14 years$40,840$35,347$30,497$26,238$22,519$12,385
15 years$37,724$32,290$27,535$23,400$19,827$10,353
16 years$35,000$29,626$24,964$20,952$17,523$8,678
17 years$32,599$27,284$22,716$18,825$15,537$7,291
18 years$30,467$25,212$20,737$16,965$13,815$6,138
19 years$28,562$23,366$18,984$15,330$12,314$5,175
20 years$26,850$21,713$17,422$13,884$10,999$4,369
21 years$25,302$20,225$16,025$12,601$9,843$3,693
22 years$23,897$18,879$14,770$11,457$8,823$3,124
23 years$22,617$17,657$13,637$10,434$7,920$2,645
24 years$21,444$16,544$12,612$9,516$7,118$2,241
25 years$20,367$15,525$11,681$8,691$6,405$1,900
26 years$19,375$14,591$10,834$7,947$5,770$1,611
27 years$18,458$13,732$10,060$7,274$5,202$1,367
28 years$17,607$12,940$9,352$6,664$4,694$1,160
29 years$16,817$12,207$8,703$6,111$4,238$985
30 years$16,081$11,528$8,107$5,609$3,830$836
31 years$15,394$10,898$7,558$5,151$3,462$710
32 years$14,751$10,312$7,051$4,734$3,132$603
33 years$14,148$9,765$6,584$4,353$2,834$513
34 years$13,582$9,255$6,152$4,005$2,566$436
35 years$13,049$8,779$5,751$3,687$2,324$370
36 years$12,547$8,332$5,380$3,396$2,106$315
37 years$12,073$7,914$5,036$3,129$1,909$267
38 years$11,626$7,521$4,716$2,884$1,730$227
39 years$11,202$7,152$4,418$2,659$1,569$193
40 years$10,801$6,804$4,141$2,453$1,423$164
41 years$10,420$6,477$3,883$2,263$1,291$140
42 years$10,058$6,168$3,642$2,088$1,172$119
43 years$9,714$5,877$3,418$1,928$1,063$101
44 years$9,386$5,602$3,208$1,780$965$86
45 years$9,074$5,342$3,013$1,644$876$73
46 years$8,777$5,096$2,829$1,518$796$62
47 years$8,493$4,863$2,658$1,403$722$53
48 years$8,221$4,643$2,498$1,296$656$45
49 years$7,962$4,434$2,348$1,198$596$38
50 years$7,713$4,235$2,207$1,107$541$32

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 $6,269 every year, while hoping to spend $43,277 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: 69/25/6 Blend
57$7,900,000$7,900,000$7,900,000$7,900,000
58$8,712,266$8,293,566$8,171,116$9,305,765
59$9,554,871$8,653,905$8,398,802$10,059,527
60$10,481,971$9,030,449$8,632,666$10,877,848
61$11,502,139$9,423,948$8,872,867$11,771,780
62$12,624,821$9,835,186$9,119,572$12,748,721
63$13,860,425$10,264,981$9,372,949$13,816,810
64$15,220,418$10,714,195$9,633,173$14,985,003
65$16,717,437$11,183,727$9,900,420$16,263,156
66$18,365,404$11,674,518$10,174,873$17,662,115
67$20,179,662$12,187,557$10,456,718$19,193,814
68$22,177,115$12,723,875$10,746,146$20,871,392
69$24,376,392$13,284,555$11,043,352$22,709,308
70$26,798,016$13,870,731$11,348,537$24,723,479
71$29,464,606$14,483,589$11,661,905$26,931,428
72$32,401,084$15,124,372$11,983,667$29,352,443
73$35,634,911$15,794,384$12,314,037$32,007,761
74$39,196,350$16,494,987$12,653,235$34,920,764
75$43,118,746$17,227,609$13,001,487$38,117,197
76$47,438,845$17,993,748$13,359,023$41,625,405
77$52,197,135$18,794,971$13,726,078$45,476,604
78$57,438,237$19,632,918$14,102,896$49,705,165
79$63,211,316$20,509,310$14,489,722$54,348,942
80$69,570,552$21,425,948$14,886,809$59,449,618
81$76,575,648$22,384,719$15,294,417$65,053,102
82$84,292,395$23,387,601$15,712,811$71,209,954
83$92,793,289$24,436,663$16,142,260$77,975,862
84$102,158,222$25,534,077$16,583,043$85,412,157
85$112,475,228$26,682,114$17,035,442$93,586,395
86$123,841,320$27,883,157$17,499,748$102,572,984
87$136,363,402$29,139,699$17,976,258$112,453,885
88$150,159,280$30,454,355$18,465,274$123,319,380
89$165,358,773$31,829,865$18,967,106$135,268,918
90$182,104,936$33,269,096$19,482,072$148,412,048
91$200,555,414$34,775,056$20,010,496$162,869,449
92$220,883,927$36,350,895$20,552,709$178,774,062
93$243,281,913$37,999,914$21,109,049$196,272,338
94$267,960,329$39,725,571$21,679,864$215,525,614
95$295,151,649$41,531,491$22,265,506$236,711,632
96$325,112,054$43,421,471$22,866,338$260,026,204
97$358,123,851$45,399,490$23,482,727$285,685,059
98$394,498,138$47,469,719$24,115,052$313,925,866
99$434,577,740$49,636,527$24,763,699$345,010,474
100$478,740,447$51,904,494$25,429,060$379,227,370