Can I retire at age 58 with 8,200,000?

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 $8,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$677,148$671,117$665,232$659,488$653,880$644,374
2 years$335,222$328,979$322,928$317,062$311,371$301,815
3 years$221,261$214,991$208,956$203,144$197,547$188,236
4 years$164,292$158,041$152,066$146,354$140,892$131,899
5 years$130,120$123,906$118,010$112,414$107,104$98,455
6 years$107,345$101,179$95,369$89,898$84,748$76,452
7 years$91,085$84,970$79,252$73,910$68,922$60,984
8 years$78,894$72,835$67,212$62,002$57,178$49,595
9 years$69,418$63,416$57,890$52,812$48,152$40,921
10 years$61,842$55,898$50,470$45,524$41,028$34,143
11 years$55,647$49,763$44,433$39,620$35,285$28,741
12 years$50,488$44,664$39,433$34,752$30,578$24,365
13 years$46,126$40,363$35,231$30,681$26,664$20,775
14 years$42,391$36,689$31,655$27,235$23,374$17,798
15 years$39,156$33,516$28,580$24,289$20,580$15,309
16 years$36,329$30,751$25,912$21,748$18,189$13,211
17 years$33,837$28,320$23,579$19,540$16,127$11,433
18 years$31,624$26,169$21,525$17,610$14,340$9,918
19 years$29,647$24,253$19,705$15,912$12,781$8,622
20 years$27,869$22,537$18,084$14,411$11,416$7,508
21 years$26,263$20,993$16,634$13,079$10,216$6,547
22 years$24,805$19,596$15,331$11,892$9,158$5,718
23 years$23,475$18,328$14,155$10,830$8,220$4,998
24 years$22,259$17,172$13,091$9,878$7,389$4,374
25 years$21,141$16,115$12,125$9,021$6,649$3,831
26 years$20,111$15,145$11,245$8,248$5,989$3,358
27 years$19,159$14,254$10,442$7,550$5,400$2,945
28 years$18,276$13,431$9,707$6,917$4,872$2,584
29 years$17,456$12,671$9,034$6,343$4,399$2,269
30 years$16,692$11,966$8,414$5,822$3,975$1,993
31 years$15,978$11,312$7,845$5,347$3,594$1,751
32 years$15,311$10,703$7,319$4,914$3,251$1,539
33 years$14,685$10,136$6,834$4,519$2,942$1,353
34 years$14,097$9,607$6,385$4,157$2,664$1,190
35 years$13,544$9,112$5,970$3,827$2,413$1,047
36 years$13,023$8,649$5,585$3,525$2,186$921
37 years$12,532$8,214$5,227$3,248$1,981$810
38 years$12,067$7,806$4,895$2,993$1,796$713
39 years$11,627$7,423$4,586$2,760$1,629$628
40 years$11,211$7,062$4,298$2,546$1,477$553
41 years$10,815$6,723$4,031$2,349$1,340$486
42 years$10,440$6,403$3,781$2,168$1,216$428
43 years$10,083$6,100$3,548$2,001$1,104$377
44 years$9,743$5,815$3,330$1,848$1,002$332
45 years$9,419$5,545$3,127$1,706$910$292
46 years$9,110$5,290$2,937$1,576$826$258
47 years$8,815$5,048$2,759$1,456$750$227
48 years$8,533$4,819$2,593$1,346$681$200
49 years$8,264$4,602$2,437$1,244$619$176
50 years$8,006$4,396$2,291$1,149$562$155

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,200,000, adding $6,030 every year, while hoping to spend $24,627 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: 53/22/25 Blend
57$8,200,000$8,200,000$8,200,000$8,200,000
58$9,042,620$8,608,020$8,480,920$9,458,794
59$9,938,764$9,003,610$8,738,828$10,142,501
60$10,925,490$9,417,759$9,004,550$10,883,101
61$12,012,010$9,851,349$9,278,323$11,688,557
62$13,208,477$10,305,307$9,560,389$12,565,073
63$14,526,078$10,780,603$9,850,998$13,519,472
64$15,977,140$11,278,255$10,150,408$14,559,256
65$17,575,246$11,799,327$10,458,885$15,692,672
66$19,335,365$12,344,938$10,776,701$16,928,792
67$21,273,990$12,916,258$11,104,139$18,277,591
68$23,409,298$13,514,515$11,441,488$19,750,045
69$25,761,315$14,140,996$11,789,047$21,358,224
70$28,352,113$14,797,048$12,147,124$23,115,410
71$31,206,011$15,484,086$12,516,035$25,036,214
72$34,349,810$16,203,592$12,896,108$27,136,718
73$37,813,040$16,957,118$13,287,677$29,434,613
74$41,628,246$17,746,292$13,691,090$31,949,373
75$45,831,289$18,572,822$14,106,703$34,702,429
76$50,461,686$19,438,496$14,534,883$37,717,369
77$55,562,985$20,345,189$14,976,009$41,020,159
78$61,183,175$21,294,869$15,430,470$44,639,381
79$67,375,135$22,289,594$15,898,668$48,606,500
80$74,197,141$23,331,526$16,381,016$52,956,156
81$81,713,409$24,422,930$16,877,939$57,726,490
82$89,994,702$25,566,180$17,389,876$62,959,493
83$99,119,004$26,763,764$17,917,278$68,701,402
84$109,172,246$28,018,293$18,460,611$75,003,130
85$120,249,127$29,332,501$19,020,353$81,920,740
86$132,454,001$30,709,257$19,596,999$89,515,973
87$145,901,866$32,151,567$20,191,054$97,856,818
88$160,719,445$33,662,583$20,803,044$107,018,152
89$177,046,389$35,245,610$21,433,506$117,082,443
90$195,036,589$36,904,112$22,082,996$128,140,513
91$214,859,629$38,641,723$22,752,086$140,292,398
92$236,702,394$40,462,249$23,441,362$153,648,279
93$260,770,823$42,369,684$24,151,433$168,329,516
94$287,291,863$44,368,215$24,882,922$184,469,787
95$316,515,605$46,462,229$25,636,472$202,216,340
96$348,717,647$48,656,329$26,412,745$221,731,373
97$384,201,698$50,955,340$27,212,422$243,193,561
98$423,302,440$53,364,320$28,036,207$266,799,726
99$466,388,691$55,888,574$28,884,822$292,766,693
100$513,866,885$58,533,662$29,759,011$321,333,318