Can I retire at age 58 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$701,922$695,670$689,570$683,616$677,802$655,057
2 years$347,486$341,015$334,743$328,661$322,763$300,072
3 years$229,356$222,857$216,601$210,577$204,774$182,850
4 years$170,303$163,823$157,630$151,709$146,047$125,057
5 years$134,880$128,439$122,327$116,527$111,022$91,022
6 years$111,273$104,880$98,859$93,187$87,848$68,854
7 years$94,417$88,078$82,152$76,614$71,444$53,454
8 years$81,781$75,500$69,671$64,270$59,270$42,269
9 years$71,958$65,736$60,008$54,744$49,914$33,882
10 years$64,104$57,943$52,316$47,190$42,529$27,441
11 years$57,683$51,583$46,058$41,069$36,576$22,403
12 years$52,335$46,298$40,876$36,023$31,696$18,405
13 years$47,814$41,840$36,520$31,803$27,640$15,197
14 years$43,942$38,032$32,813$28,231$24,229$12,599
15 years$40,589$34,743$29,626$25,177$21,333$10,480
16 years$37,658$31,876$26,860$22,544$18,854$8,741
17 years$35,075$29,356$24,442$20,255$16,717$7,306
18 years$32,781$27,126$22,312$18,254$14,864$6,118
19 years$30,731$25,141$20,426$16,494$13,249$5,131
20 years$28,889$23,362$18,746$14,939$11,834$4,309
21 years$27,224$21,761$17,242$13,558$10,590$3,622
22 years$25,712$20,313$15,892$12,327$9,493$3,048
23 years$24,334$18,998$14,673$11,226$8,521$2,566
24 years$23,073$17,800$13,570$10,239$7,659$2,162
25 years$21,914$16,704$12,569$9,351$6,892$1,822
26 years$20,847$15,699$11,657$8,550$6,208$1,537
27 years$19,860$14,775$10,824$7,826$5,597$1,297
28 years$18,945$13,922$10,063$7,170$5,050$1,094
29 years$18,094$13,134$9,364$6,575$4,560$924
30 years$17,302$12,404$8,722$6,035$4,121$780
31 years$16,563$11,726$8,132$5,542$3,725$659
32 years$15,871$11,095$7,587$5,093$3,370$556
33 years$15,222$10,507$7,084$4,684$3,050$470
34 years$14,613$9,958$6,619$4,310$2,761$397
35 years$14,040$9,445$6,188$3,967$2,501$335
36 years$13,500$8,965$5,789$3,654$2,266$283
37 years$12,990$8,515$5,418$3,366$2,054$239
38 years$12,509$8,092$5,074$3,103$1,862$202
39 years$12,053$7,695$4,754$2,861$1,688$171
40 years$11,621$7,321$4,456$2,639$1,531$144
41 years$11,211$6,969$4,178$2,435$1,389$122
42 years$10,822$6,637$3,919$2,247$1,261$103
43 years$10,452$6,324$3,678$2,074$1,144$87
44 years$10,099$6,028$3,452$1,915$1,039$74
45 years$9,763$5,748$3,241$1,769$943$62
46 years$9,443$5,483$3,044$1,634$856$53
47 years$9,138$5,233$2,860$1,509$777$45
48 years$8,846$4,995$2,688$1,395$706$38
49 years$8,566$4,770$2,526$1,289$641$32
50 years$8,299$4,557$2,375$1,191$582$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,500,000, adding $4,594 every year, while hoping to spend $42,221 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: 26/50/24 Blend
57$8,500,000$8,500,000$8,500,000$8,500,000
58$9,371,739$8,921,239$8,789,489$9,544,245
59$10,282,733$9,313,457$9,039,014$10,075,807
60$11,285,234$9,723,478$9,295,483$10,641,798
61$12,388,531$10,152,131$9,559,084$11,248,213
62$13,602,857$10,600,282$9,830,010$11,898,486
63$14,939,493$11,068,840$10,108,459$12,596,376
64$16,410,863$11,558,755$10,394,635$13,345,991
65$18,030,660$12,071,023$10,688,744$14,151,828
66$19,813,972$12,606,688$10,991,002$15,018,812
67$21,777,424$13,166,843$11,301,627$15,952,333
68$23,939,335$13,752,631$11,620,845$16,958,295
69$26,319,890$14,365,253$11,948,886$18,043,169
70$28,941,331$15,005,963$12,285,986$19,214,046
71$31,828,169$15,676,078$12,632,389$20,478,697
72$35,007,412$16,376,975$12,988,344$21,845,646
73$38,508,820$17,110,098$13,354,105$23,324,241
74$42,365,187$17,876,960$13,729,935$24,924,737
75$46,612,649$18,679,145$14,116,101$26,658,383
76$51,291,029$19,518,313$14,512,880$28,537,531
77$56,444,206$20,396,202$14,920,554$30,575,733
78$62,120,535$21,314,635$15,339,412$32,787,872
79$68,373,297$22,275,521$15,769,750$35,190,290
80$75,261,211$23,280,858$16,211,874$37,800,934
81$82,848,977$24,332,743$16,666,094$40,639,520
82$91,207,896$25,433,371$17,132,732$43,727,707
83$100,416,537$26,585,041$17,612,114$47,089,294
84$110,561,480$27,790,165$18,104,576$50,750,437
85$121,738,135$29,051,267$18,610,464$54,739,882
86$134,051,639$30,370,994$19,130,129$59,089,229
87$147,617,852$31,752,118$19,663,933$63,833,217
88$162,564,446$33,197,545$20,212,248$69,010,045
89$179,032,114$34,710,319$20,775,453$74,661,714
90$197,175,897$36,293,631$21,353,938$80,834,417
91$217,166,644$37,950,825$21,948,100$87,578,959
92$239,192,629$39,685,403$22,558,350$94,951,222
93$263,461,328$41,501,038$23,185,104$103,012,683
94$290,201,371$43,401,577$23,828,794$111,830,974
95$319,664,709$45,391,053$24,489,857$121,480,507
96$352,128,986$47,473,691$25,168,743$132,043,162
97$387,900,161$49,653,921$25,865,915$143,609,039
98$427,315,398$51,936,383$26,581,843$156,277,294
99$470,746,245$54,325,942$27,317,011$170,157,056
100$518,602,147$56,827,698$28,071,915$185,368,435