Can I retire at age 58 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$685,406$679,301$673,344$667,531$661,854$636,096
2 years$339,310$332,991$326,866$320,928$315,168$289,529
3 years$223,960$217,613$211,504$205,622$199,956$175,242
4 years$166,296$159,969$153,921$148,139$142,610$119,010
5 years$131,707$125,417$119,449$113,785$108,410$85,984
6 years$108,655$102,413$96,532$90,995$85,781$64,544
7 years$92,195$86,006$80,219$74,812$69,763$49,708
8 years$79,857$73,723$68,032$62,758$57,875$38,982
9 years$70,265$64,189$58,596$53,456$48,739$30,980
10 years$62,596$56,580$51,085$46,079$41,528$24,870
11 years$56,325$50,370$44,975$40,103$35,716$20,120
12 years$51,104$45,209$39,914$35,176$30,950$16,376
13 years$46,689$40,856$35,660$31,055$26,989$13,393
14 years$42,908$37,137$32,041$27,567$23,659$10,995
15 years$39,634$33,925$28,929$24,585$20,831$9,055
16 years$36,772$31,126$26,228$22,013$18,411$7,476
17 years$34,250$28,665$23,867$19,779$16,324$6,185
18 years$32,010$26,488$21,787$17,824$14,515$5,125
19 years$30,008$24,549$19,945$16,106$12,937$4,253
20 years$28,209$22,812$18,305$14,587$11,556$3,533
21 years$26,583$21,249$16,837$13,239$10,341$2,938
22 years$25,107$19,835$15,518$12,037$9,269$2,445
23 years$23,762$18,551$14,328$10,962$8,321$2,036
24 years$22,530$17,381$13,251$9,998$7,479$1,697
25 years$21,399$16,311$12,273$9,131$6,730$1,414
26 years$20,356$15,330$11,382$8,349$6,062$1,179
27 years$19,392$14,427$10,570$7,642$5,465$984
28 years$18,499$13,595$9,826$7,002$4,931$821
29 years$17,669$12,825$9,144$6,421$4,453$685
30 years$16,895$12,112$8,517$5,893$4,024$572
31 years$16,173$11,450$7,940$5,412$3,638$477
32 years$15,497$10,834$7,408$4,974$3,291$398
33 years$14,864$10,260$6,917$4,574$2,978$333
34 years$14,269$9,724$6,463$4,208$2,696$278
35 years$13,710$9,223$6,042$3,874$2,442$232
36 years$13,182$8,754$5,653$3,568$2,213$194
37 years$12,685$8,314$5,291$3,287$2,005$162
38 years$12,214$7,902$4,955$3,030$1,818$135
39 years$11,769$7,514$4,642$2,794$1,649$113
40 years$11,347$7,149$4,351$2,577$1,495$94
41 years$10,947$6,805$4,080$2,377$1,357$79
42 years$10,567$6,481$3,827$2,194$1,231$66
43 years$10,206$6,175$3,591$2,025$1,117$55
44 years$9,862$5,886$3,371$1,870$1,014$46
45 years$9,534$5,613$3,165$1,727$921$38
46 years$9,221$5,354$2,973$1,595$836$32
47 years$8,923$5,110$2,793$1,474$759$27
48 years$8,637$4,878$2,624$1,362$689$22
49 years$8,365$4,658$2,467$1,259$626$19
50 years$8,104$4,450$2,319$1,163$569$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,300,000, adding $6,067 every year, while hoping to spend $20,622 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: 45/27/28 Blend
57$8,300,000$8,300,000$8,300,000$8,300,000
58$9,152,858$8,712,958$8,584,308$9,490,372
59$10,064,508$9,117,951$8,849,941$10,135,966
60$11,068,455$9,542,098$9,123,781$10,833,246
61$12,174,092$9,986,315$9,406,082$11,589,088
62$13,391,768$10,451,564$9,697,105$12,408,972
63$14,732,889$10,938,851$9,997,118$13,298,918
64$16,210,021$11,449,232$10,306,399$14,265,537
65$17,837,014$11,983,815$10,625,234$15,316,092
66$19,629,128$12,543,760$10,953,918$16,458,566
67$21,603,178$13,130,284$11,292,754$17,701,730
68$23,777,696$13,744,662$11,642,055$19,055,225
69$26,173,101$14,388,230$12,002,143$20,529,649
70$28,811,895$15,062,391$12,373,353$22,136,655
71$31,718,873$15,768,613$12,756,025$23,889,053
72$34,921,361$16,508,438$13,150,515$25,800,934
73$38,449,468$17,283,480$13,557,185$27,887,790
74$42,336,375$18,095,432$13,976,412$30,166,665
75$46,618,646$18,946,068$14,408,583$32,656,306
76$51,336,573$19,837,251$14,854,096$35,377,336
77$56,534,558$20,770,931$15,313,362$38,352,446
78$62,261,529$21,749,153$15,786,806$41,606,601
79$68,571,406$22,774,062$16,274,865$45,167,273
80$75,523,605$23,847,906$16,777,988$49,064,696
81$83,183,602$24,973,044$17,296,641$53,332,139
82$91,623,552$26,151,945$17,831,300$58,006,224
83$100,922,966$27,387,202$18,382,461$63,127,257
84$111,169,466$28,681,532$18,950,630$68,739,606
85$122,459,607$30,037,783$19,536,332$74,892,111
86$134,899,795$31,458,943$20,140,108$81,638,542
87$148,607,286$32,948,142$20,762,513$89,038,093
88$163,711,293$34,508,665$21,404,121$97,155,939
89$180,354,210$36,143,955$22,065,524$106,063,838
90$198,692,952$37,857,622$22,747,332$115,840,804
91$218,900,439$39,653,450$23,450,173$126,573,841
92$241,167,224$41,535,410$24,174,694$138,358,756
93$265,703,298$43,507,662$24,921,563$151,301,057
94$292,740,067$45,574,570$25,691,469$165,516,933
95$322,532,540$47,740,711$26,485,119$181,134,343
96$355,361,735$50,010,881$27,303,247$198,294,216
97$391,537,330$52,390,113$28,146,604$217,151,763
98$431,400,590$54,883,681$29,015,967$237,877,937
99$475,327,586$57,497,116$29,912,137$260,661,030
100$523,732,746$60,236,221$30,835,940$285,708,439