Can I retire at age 58 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$693,664$687,485$681,457$675,573$669,828$644,780
2 years$343,398$337,003$330,804$324,795$318,966$294,017
3 years$226,658$220,235$214,052$208,099$202,365$178,301
4 years$168,299$161,896$155,775$149,924$144,328$121,332
5 years$133,293$126,928$120,888$115,156$109,716$87,847
6 years$109,964$103,647$97,695$92,091$86,815$66,088
7 years$93,306$87,042$81,185$75,713$70,604$51,014
8 years$80,819$74,611$68,852$63,514$58,572$40,101
9 years$71,111$64,963$59,302$54,100$49,326$31,948
10 years$63,350$57,261$51,701$46,634$42,029$25,712
11 years$57,004$50,976$45,517$40,586$36,146$20,855
12 years$51,719$45,754$40,395$35,599$31,323$17,020
13 years$47,251$41,348$36,090$31,429$27,315$13,958
14 years$43,425$37,584$32,427$27,899$23,944$11,491
15 years$40,111$34,334$29,277$24,881$21,082$9,490
16 years$37,215$31,501$26,544$22,278$18,632$7,858
17 years$34,662$29,011$24,154$20,017$16,521$6,520
18 years$32,396$26,807$22,050$18,039$14,689$5,419
19 years$30,370$24,845$20,185$16,300$13,093$4,511
20 years$28,549$23,087$18,525$14,763$11,695$3,759
21 years$26,904$21,505$17,040$13,398$10,466$3,136
22 years$25,410$20,074$15,705$12,182$9,381$2,618
23 years$24,048$18,775$14,500$11,094$8,421$2,187
24 years$22,802$17,591$13,410$10,119$7,569$1,828
25 years$21,656$16,508$12,421$9,241$6,811$1,528
26 years$20,601$15,515$11,520$8,449$6,135$1,279
27 years$19,626$14,601$10,697$7,734$5,531$1,070
28 years$18,722$13,759$9,944$7,086$4,991$896
29 years$17,882$12,980$9,254$6,498$4,507$750
30 years$17,099$12,258$8,620$5,964$4,072$628
31 years$16,368$11,588$8,036$5,477$3,682$526
32 years$15,684$10,964$7,498$5,034$3,330$441
33 years$15,043$10,383$7,001$4,629$3,014$369
34 years$14,441$9,841$6,541$4,259$2,729$309
35 years$13,875$9,334$6,115$3,921$2,471$259
36 years$13,341$8,860$5,721$3,611$2,239$217
37 years$12,837$8,415$5,354$3,327$2,030$182
38 years$12,361$7,997$5,014$3,066$1,840$152
39 years$11,911$7,604$4,698$2,827$1,669$128
40 years$11,484$7,235$4,403$2,608$1,513$107
41 years$11,079$6,887$4,129$2,406$1,373$90
42 years$10,694$6,559$3,873$2,221$1,246$75
43 years$10,329$6,249$3,634$2,050$1,131$63
44 years$9,980$5,957$3,411$1,893$1,026$53
45 years$9,649$5,680$3,203$1,748$932$44
46 years$9,332$5,419$3,009$1,615$846$37
47 years$9,030$5,171$2,826$1,492$768$31
48 years$8,741$4,937$2,656$1,378$698$26
49 years$8,465$4,714$2,497$1,274$634$22
50 years$8,201$4,503$2,347$1,177$575$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,400,000, adding $5,329 every year, while hoping to spend $51,477 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: 81/9/10 Blend
57$8,400,000$8,400,000$8,400,000$8,400,000
58$9,262,297$8,817,097$8,686,897$9,997,428
59$10,152,280$9,194,363$8,923,137$10,857,324
60$11,131,316$9,588,391$9,165,565$11,793,643
61$12,208,434$9,999,946$9,414,336$12,819,826
62$13,393,583$10,429,832$9,669,604$13,944,847
63$14,697,723$10,878,888$9,931,531$15,178,585
64$16,132,932$11,347,995$10,200,279$16,531,922
65$17,712,518$11,838,074$10,476,015$18,016,839
66$19,451,144$12,350,088$10,758,910$19,646,536
67$21,364,966$12,885,047$11,049,139$21,435,546
68$23,471,786$13,444,009$11,346,879$23,399,879
69$25,791,222$14,028,078$11,652,312$25,557,168
70$28,344,887$14,638,415$11,965,625$27,926,836
71$31,156,599$15,276,231$12,287,008$30,530,277
72$34,252,603$15,942,797$12,616,653$33,391,057
73$37,661,817$16,639,442$12,954,759$36,535,137
74$41,416,107$17,367,560$13,301,529$39,991,112
75$45,550,588$18,128,609$13,657,168$43,790,487
76$50,103,952$18,924,115$14,021,887$47,967,964
77$55,118,836$19,755,677$14,395,902$52,561,777
78$60,642,224$20,624,971$14,779,430$57,614,043
79$66,725,886$21,533,751$15,172,697$63,171,165
80$73,426,874$22,483,852$15,575,930$69,284,264
81$80,808,054$23,477,200$15,989,362$76,009,662
82$88,938,701$24,515,808$16,413,231$83,409,410
83$97,895,152$25,601,786$16,847,779$91,551,874
84$107,761,530$26,737,346$17,293,252$100,512,376
85$118,630,533$27,924,803$17,749,902$110,373,906
86$130,604,309$29,166,580$18,217,986$121,227,900
87$143,795,425$30,465,218$18,697,764$133,175,104
88$158,327,923$31,823,379$19,189,504$146,326,519
89$174,338,494$33,243,848$19,693,476$160,804,451
90$191,977,769$34,729,545$20,209,956$176,743,659
91$211,411,738$36,283,529$20,739,226$194,292,628
92$232,823,318$37,909,004$21,281,572$213,614,965
93$256,414,077$39,609,326$21,837,286$234,890,943
94$282,406,141$41,388,012$22,406,663$258,319,198
95$311,044,288$43,248,744$22,990,006$284,118,602
96$342,598,256$45,195,383$23,587,622$312,530,327
97$377,365,293$47,231,973$24,199,823$343,820,116
98$415,672,962$49,362,748$24,826,926$378,280,792
99$457,882,230$51,592,148$25,469,253$416,235,014
100$504,390,877$53,924,824$26,127,134$458,038,322