Can I retire at age 58 with 8,600,000?

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 $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$710,180$703,854$697,682$691,658$685,776$675,249
2 years$351,574$345,026$338,681$332,528$326,560$315,980
3 years$232,055$225,479$219,149$213,054$207,183$196,879
4 years$172,307$165,751$159,484$153,493$147,765$137,816
5 years$136,467$129,951$123,766$117,898$112,328$102,764
6 years$112,582$106,114$100,022$94,284$88,882$79,712
7 years$95,528$89,115$83,118$77,516$72,285$63,513
8 years$82,743$76,388$70,491$65,026$59,967$51,592
9 years$72,804$66,509$60,714$55,388$50,501$42,519
10 years$64,858$58,625$52,932$47,745$43,029$35,433
11 years$58,361$52,190$46,600$41,552$37,007$29,789
12 years$52,951$46,843$41,357$36,447$32,069$25,221
13 years$48,376$42,332$36,949$32,177$27,965$21,477
14 years$44,459$38,479$33,199$28,563$24,514$18,375
15 years$41,066$35,151$29,974$25,473$21,584$15,783
16 years$38,101$32,251$27,176$22,809$19,076$13,602
17 years$35,488$29,702$24,729$20,493$16,914$11,755
18 years$33,167$27,446$22,575$18,469$15,039$10,182
19 years$31,093$25,436$20,666$16,688$13,405$8,838
20 years$29,229$23,637$18,966$15,114$11,973$7,685
21 years$27,544$22,017$17,445$13,717$10,715$6,692
22 years$26,015$20,552$16,078$12,472$9,604$5,835
23 years$24,621$19,222$14,846$11,359$8,621$5,093
24 years$23,344$18,009$13,730$10,360$7,749$4,450
25 years$22,172$16,901$12,716$9,461$6,973$3,891
26 years$21,092$15,884$11,794$8,651$6,281$3,405
27 years$20,093$14,949$10,952$7,918$5,663$2,981
28 years$19,168$14,086$10,181$7,255$5,110$2,612
29 years$18,307$13,289$9,474$6,653$4,614$2,290
30 years$17,506$12,550$8,825$6,106$4,169$2,008
31 years$16,758$11,864$8,227$5,607$3,769$1,761
32 years$16,058$11,225$7,676$5,153$3,409$1,545
33 years$15,401$10,631$7,167$4,739$3,086$1,356
34 years$14,785$10,076$6,697$4,360$2,794$1,191
35 years$14,205$9,556$6,261$4,014$2,530$1,046
36 years$13,659$9,070$5,857$3,697$2,293$919
37 years$13,143$8,615$5,482$3,406$2,078$807
38 years$12,656$8,187$5,134$3,139$1,884$709
39 years$12,195$7,785$4,810$2,895$1,708$623
40 years$11,758$7,407$4,508$2,670$1,549$547
41 years$11,343$7,051$4,227$2,463$1,406$481
42 years$10,949$6,715$3,965$2,273$1,276$423
43 years$10,575$6,398$3,721$2,099$1,158$372
44 years$10,218$6,099$3,493$1,938$1,051$327
45 years$9,878$5,816$3,279$1,790$954$287
46 years$9,554$5,548$3,080$1,653$866$253
47 years$9,245$5,294$2,894$1,527$786$222
48 years$8,950$5,054$2,719$1,411$714$195
49 years$8,667$4,826$2,556$1,304$649$172
50 years$8,397$4,610$2,403$1,205$589$151

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,600,000, adding $5,178 every year, while hoping to spend $40,698 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: 53/37/10 Blend
57$8,600,000$8,600,000$8,600,000$8,600,000
58$9,482,541$9,026,741$8,893,441$9,960,656
59$10,406,458$9,425,749$9,148,069$10,685,136
60$11,423,250$9,842,944$9,409,863$11,468,089
61$12,542,348$10,279,175$9,679,020$12,318,947
62$13,774,143$10,735,330$9,955,742$13,244,146
63$15,130,084$11,212,340$10,240,238$14,250,754
64$16,622,787$11,711,178$10,532,720$15,346,541
65$18,266,152$12,232,867$10,833,408$16,540,045
66$20,075,498$12,778,476$11,142,525$17,840,650
67$22,067,703$13,349,125$11,460,303$19,258,673
68$24,261,364$13,945,988$11,786,979$20,805,457
69$26,676,975$14,570,293$12,122,795$22,493,473
70$29,337,119$15,223,330$12,468,001$24,336,437
71$32,266,678$15,906,446$12,822,852$26,349,433
72$35,493,074$16,621,057$13,187,612$28,549,051
73$39,046,521$17,368,642$13,562,550$30,953,541
74$42,960,313$18,150,753$13,947,943$33,582,981
75$47,271,141$18,969,015$14,344,075$36,459,459
76$52,019,432$19,825,132$14,751,236$39,607,280
77$57,249,738$20,720,888$15,169,727$43,053,188
78$63,011,152$21,658,151$15,599,853$46,826,613
79$69,357,771$22,638,882$16,041,930$50,959,945
80$76,349,208$23,665,132$16,496,279$55,488,831
81$84,051,157$24,739,053$16,963,234$60,452,509
82$92,536,005$25,862,897$17,443,132$65,894,168
83$101,883,524$27,039,025$17,936,324$71,861,352
84$112,181,618$28,269,912$18,443,166$78,406,401
85$123,527,157$29,558,152$18,964,025$85,586,935
86$136,026,885$30,906,459$19,499,278$93,466,394
87$149,798,435$32,317,683$20,049,311$102,114,628
88$164,971,431$33,794,806$20,614,520$111,608,544
89$181,688,721$35,340,955$21,195,309$122,032,828
90$200,107,715$36,959,407$21,792,097$133,480,735
91$220,401,880$38,653,595$22,405,310$146,054,955
92$242,762,369$40,427,118$23,035,385$159,868,577
93$267,399,832$42,283,749$23,682,772$175,046,142
94$294,546,401$44,227,439$24,347,931$191,724,811
95$324,457,882$46,262,331$25,031,335$210,055,648
96$357,416,167$48,392,767$25,733,466$230,205,030
97$393,731,901$50,623,297$26,454,821$252,356,209
98$433,747,406$52,958,690$27,195,910$276,711,028
99$477,839,922$55,403,945$27,957,252$303,491,810
100$526,425,157$57,964,302$28,739,384$332,943,443