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

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 $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%19%
1 years$677,148$671,117$665,232$659,488$653,880$630,178
2 years$335,222$328,979$322,928$317,062$311,371$287,753
3 years$221,261$214,991$208,956$203,144$197,547$174,753
4 years$164,292$158,041$152,066$146,354$140,892$119,098
5 years$130,120$123,906$118,010$112,414$107,104$86,366
6 years$107,345$101,179$95,369$89,898$84,748$65,081
7 years$91,085$84,970$79,252$73,910$68,922$50,323
8 years$78,894$72,835$67,212$62,002$57,178$39,629
9 years$69,418$63,416$57,890$52,812$48,152$31,630
10 years$61,842$55,898$50,470$45,524$41,028$25,504
11 years$55,647$49,763$44,433$39,620$35,285$20,727
12 years$50,488$44,664$39,433$34,752$30,578$16,949
13 years$46,126$40,363$35,231$30,681$26,664$13,928
14 years$42,391$36,689$31,655$27,235$23,374$11,491
15 years$39,156$33,516$28,580$24,289$20,580$9,511
16 years$36,329$30,751$25,912$21,748$18,189$7,892
17 years$33,837$28,320$23,579$19,540$16,127$6,563
18 years$31,624$26,169$21,525$17,610$14,340$5,467
19 years$29,647$24,253$19,705$15,912$12,781$4,561
20 years$27,869$22,537$18,084$14,411$11,416$3,810
21 years$26,263$20,993$16,634$13,079$10,216$3,185
22 years$24,805$19,596$15,331$11,892$9,158$2,665
23 years$23,475$18,328$14,155$10,830$8,220$2,232
24 years$22,259$17,172$13,091$9,878$7,389$1,870
25 years$21,141$16,115$12,125$9,021$6,649$1,567
26 years$20,111$15,145$11,245$8,248$5,989$1,314
27 years$19,159$14,254$10,442$7,550$5,400$1,103
28 years$18,276$13,431$9,707$6,917$4,872$925
29 years$17,456$12,671$9,034$6,343$4,399$777
30 years$16,692$11,966$8,414$5,822$3,975$652
31 years$15,978$11,312$7,845$5,347$3,594$547
32 years$15,311$10,703$7,319$4,914$3,251$460
33 years$14,685$10,136$6,834$4,519$2,942$386
34 years$14,097$9,607$6,385$4,157$2,664$324
35 years$13,544$9,112$5,970$3,827$2,413$272
36 years$13,023$8,649$5,585$3,525$2,186$229
37 years$12,532$8,214$5,227$3,248$1,981$192
38 years$12,067$7,806$4,895$2,993$1,796$161
39 years$11,627$7,423$4,586$2,760$1,629$136
40 years$11,211$7,062$4,298$2,546$1,477$114
41 years$10,815$6,723$4,031$2,349$1,340$96
42 years$10,440$6,403$3,781$2,168$1,216$80
43 years$10,083$6,100$3,548$2,001$1,104$68
44 years$9,743$5,815$3,330$1,848$1,002$57
45 years$9,419$5,545$3,127$1,706$910$48
46 years$9,110$5,290$2,937$1,576$826$40
47 years$8,815$5,048$2,759$1,456$750$34
48 years$8,533$4,819$2,593$1,346$681$28
49 years$8,264$4,602$2,437$1,244$619$24
50 years$8,006$4,396$2,291$1,149$562$20

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 $4,859 every year, while hoping to spend $59,764 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: 56/23/21 Blend
57$8,200,000$8,200,000$8,200,000$8,200,000
58$9,041,412$8,606,812$8,479,712$9,496,218
59$9,900,048$8,964,957$8,700,194$10,165,535
60$10,844,261$9,338,649$8,926,059$10,887,561
61$11,882,718$9,728,585$9,157,424$11,672,863
62$13,024,967$10,135,497$9,394,409$12,527,538
63$14,281,526$10,560,149$9,637,135$13,458,288
64$15,663,987$11,003,342$9,885,724$14,472,485
65$17,185,120$11,465,912$10,140,302$15,578,239
66$18,858,995$11,948,735$10,400,996$16,784,474
67$20,701,118$12,452,728$10,667,934$18,101,005
68$22,728,569$12,978,849$10,941,247$19,538,636
69$24,960,173$13,528,102$11,221,069$21,109,252
70$27,416,669$14,101,538$11,507,533$22,825,937
71$30,120,911$14,700,254$11,800,776$24,703,087
72$33,098,078$15,325,401$12,100,937$26,756,550
73$36,375,919$15,978,183$12,408,156$29,003,772
74$39,985,008$16,659,859$12,722,574$31,463,953
75$43,959,034$17,371,747$13,044,336$34,158,236
76$48,335,121$18,115,229$13,373,586$37,109,893
77$53,154,175$18,891,747$13,710,473$40,344,551
78$58,461,273$19,702,813$14,055,145$43,890,423
79$64,306,083$20,550,012$14,407,753$47,778,576
80$70,743,339$21,434,998$14,768,449$52,043,221
81$77,833,354$22,359,507$15,137,386$56,722,029
82$85,642,587$23,325,354$15,514,719$61,856,487
83$94,244,274$24,334,440$15,900,606$67,492,281
84$103,719,117$25,388,754$16,295,203$73,679,730
85$114,156,045$26,490,381$16,698,670$80,474,251
86$125,653,053$27,641,501$17,111,167$87,936,880
87$138,318,128$28,844,398$17,532,855$96,134,844
88$152,270,267$30,101,464$17,963,896$105,142,191
89$167,640,601$31,415,202$18,404,453$115,040,485
90$184,573,630$32,788,235$18,854,690$125,919,568
91$203,228,590$34,223,307$19,314,771$137,878,405
92$223,780,951$35,723,295$19,784,860$151,026,014
93$246,424,079$37,291,207$20,265,124$165,482,485
94$271,371,056$38,930,197$20,755,727$181,380,115
95$298,856,694$40,643,567$21,256,834$198,864,642
96$329,139,750$42,434,775$21,768,611$218,096,621
97$362,505,367$44,307,442$22,291,222$239,252,930
98$399,267,768$46,265,360$22,824,832$262,528,432
99$439,773,220$48,312,502$23,369,603$288,137,811
100$484,403,302$50,453,028$23,925,699$316,317,587