Can I retire at age 58 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$660,633$654,748$649,007$643,403$637,931$632,058
2 years$327,046$320,955$315,052$309,328$303,777$297,860
3 years$215,865$209,748$203,859$198,190$192,728$186,951
4 years$160,285$154,187$148,357$142,785$137,456$131,861
5 years$126,946$120,884$115,131$109,672$104,492$99,098
6 years$104,727$98,711$93,043$87,706$82,681$77,494
7 years$88,863$82,897$77,319$72,108$67,241$62,264
8 years$76,970$71,058$65,573$60,489$55,783$51,014
9 years$67,725$61,869$56,478$51,524$46,978$42,416
10 years$60,333$54,535$49,239$44,414$40,027$35,671
11 years$54,289$48,549$43,349$38,653$34,425$30,269
12 years$49,256$43,575$38,471$33,904$29,832$25,874
13 years$45,001$39,379$34,371$29,932$26,014$22,249
14 years$41,357$35,794$30,883$26,571$22,804$19,226
15 years$38,201$32,699$27,883$23,696$20,078$16,683
16 years$35,443$30,001$25,280$21,217$17,745$14,528
17 years$33,012$27,629$23,004$19,064$15,734$12,688
18 years$30,853$25,531$21,000$17,180$13,990$11,110
19 years$28,924$23,662$19,224$15,524$12,470$9,749
20 years$27,189$21,988$17,643$14,060$11,138$8,571
21 years$25,622$20,481$16,228$12,760$9,967$7,548
22 years$24,200$19,118$14,957$11,602$8,934$6,656
23 years$22,903$17,881$13,810$10,566$8,020$5,877
24 years$21,716$16,753$12,772$9,637$7,208$5,195
25 years$20,625$15,722$11,829$8,801$6,487$4,597
26 years$19,620$14,776$10,971$8,047$5,843$4,070
27 years$18,691$13,906$10,188$7,366$5,268$3,607
28 years$17,830$13,103$9,471$6,749$4,753$3,199
29 years$17,030$12,362$8,813$6,189$4,292$2,838
30 years$16,285$11,674$8,209$5,680$3,878$2,519
31 years$15,589$11,036$7,653$5,216$3,506$2,237
32 years$14,937$10,442$7,141$4,794$3,172$1,988
33 years$14,327$9,889$6,667$4,408$2,870$1,767
34 years$13,753$9,373$6,229$4,056$2,599$1,571
35 years$13,214$8,890$5,824$3,734$2,354$1,397
36 years$12,706$8,438$5,448$3,439$2,133$1,243
37 years$12,226$8,014$5,100$3,168$1,933$1,106
38 years$11,773$7,616$4,775$2,920$1,752$984
39 years$11,344$7,242$4,474$2,693$1,589$876
40 years$10,937$6,890$4,194$2,484$1,441$779
41 years$10,552$6,559$3,932$2,291$1,308$694
42 years$10,185$6,246$3,689$2,115$1,187$618
43 years$9,837$5,952$3,461$1,952$1,077$550
44 years$9,505$5,673$3,249$1,803$977$490
45 years$9,189$5,410$3,051$1,665$887$436
46 years$8,888$5,161$2,865$1,538$806$389
47 years$8,600$4,925$2,692$1,421$732$346
48 years$8,325$4,702$2,530$1,313$664$308
49 years$8,062$4,490$2,378$1,213$603$275
50 years$7,811$4,289$2,235$1,121$548$245

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,000,000, adding $6,294 every year, while hoping to spend $33,009 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: 71/12/17 Blend
57$8,000,000$8,000,000$8,000,000$8,000,000
58$8,822,492$8,398,492$8,274,492$9,413,338
59$9,687,265$8,774,897$8,516,566$10,183,362
60$10,639,139$9,168,639$8,765,644$11,021,546
61$11,686,962$9,580,534$9,021,924$11,938,356
62$12,840,486$10,011,434$9,285,613$12,941,566
63$14,110,456$10,462,234$9,556,920$14,039,731
64$15,508,709$10,933,871$9,836,065$15,242,272
65$17,048,293$11,427,326$10,123,268$16,559,558
66$18,743,582$11,943,628$10,418,761$18,003,007
67$20,610,416$12,483,854$10,722,778$19,585,188
68$22,666,249$13,049,134$11,035,561$21,319,944
69$24,930,314$13,640,649$11,357,361$23,222,516
70$27,423,806$14,259,641$11,688,432$25,309,686
71$30,170,077$14,907,406$12,029,037$27,599,938
72$33,194,863$15,585,307$12,379,448$30,113,625
73$36,526,521$16,294,770$12,739,942$32,873,165
74$40,196,301$17,037,288$13,110,805$35,903,244
75$44,238,637$17,814,428$13,492,330$39,231,055
76$48,691,474$18,627,831$13,884,818$42,886,545
77$53,596,625$19,479,216$14,288,581$46,902,703
78$59,000,169$20,370,386$14,703,937$51,315,862
79$64,952,880$21,303,228$15,131,212$56,166,046
80$71,510,710$22,279,723$15,570,744$61,497,342
81$78,735,317$23,301,944$16,022,879$67,358,312
82$86,694,645$24,372,065$16,487,971$73,802,454
83$95,463,567$25,492,364$16,966,386$80,888,702
84$105,124,590$26,665,229$17,458,499$88,681,977
85$115,768,635$27,893,162$17,964,696$97,253,801
86$127,495,895$29,178,786$18,485,372$106,682,967
87$140,416,780$30,524,850$19,020,935$117,056,278
88$154,652,958$31,934,234$19,571,803$128,469,368
89$170,338,507$33,409,958$20,138,406$141,027,597
90$187,621,176$34,955,188$20,721,184$154,847,044
91$206,663,785$36,573,241$21,320,592$170,055,598
92$227,645,755$38,267,594$21,937,096$186,794,163
93$250,764,807$40,041,891$22,571,174$205,217,984
94$276,238,826$41,899,953$23,223,317$225,498,104
95$304,307,920$43,845,784$23,894,032$247,822,982
96$335,236,683$45,883,583$24,583,837$272,400,262
97$369,316,694$48,017,748$25,293,265$299,458,729
98$406,869,271$50,252,892$26,022,864$329,250,465
99$448,248,503$52,593,850$26,773,196$362,053,224
100$493,844,591$55,045,689$27,544,839$398,173,048