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%19.3%
1 years$710,180$703,854$697,682$691,658$685,776$660,132
2 years$351,574$345,026$338,681$332,528$326,560$301,018
3 years$232,055$225,479$219,149$213,054$207,183$182,546
4 years$172,307$165,751$159,484$153,493$147,765$124,221
5 years$136,467$129,951$123,766$117,898$112,328$89,938
6 years$112,582$106,114$100,022$94,284$88,882$67,661
7 years$95,528$89,115$83,118$77,516$72,285$52,228
8 years$82,743$76,388$70,491$65,026$59,967$41,056
9 years$72,804$66,509$60,714$55,388$50,501$32,709
10 years$64,858$58,625$52,932$47,745$43,029$26,324
11 years$58,361$52,190$46,600$41,552$37,007$21,352
12 years$52,951$46,843$41,357$36,447$32,069$17,425
13 years$48,376$42,332$36,949$32,177$27,965$14,290
14 years$44,459$38,479$33,199$28,563$24,514$11,765
15 years$41,066$35,151$29,974$25,473$21,584$9,716
16 years$38,101$32,251$27,176$22,809$19,076$8,045
17 years$35,488$29,702$24,729$20,493$16,914$6,675
18 years$33,167$27,446$22,575$18,469$15,039$5,548
19 years$31,093$25,436$20,666$16,688$13,405$4,618
20 years$29,229$23,637$18,966$15,114$11,973$3,849
21 years$27,544$22,017$17,445$13,717$10,715$3,210
22 years$26,015$20,552$16,078$12,472$9,604$2,680
23 years$24,621$19,222$14,846$11,359$8,621$2,239
24 years$23,344$18,009$13,730$10,360$7,749$1,871
25 years$22,172$16,901$12,716$9,461$6,973$1,565
26 years$21,092$15,884$11,794$8,651$6,281$1,309
27 years$20,093$14,949$10,952$7,918$5,663$1,096
28 years$19,168$14,086$10,181$7,255$5,110$917
29 years$18,307$13,289$9,474$6,653$4,614$768
30 years$17,506$12,550$8,825$6,106$4,169$643
31 years$16,758$11,864$8,227$5,607$3,769$538
32 years$16,058$11,225$7,676$5,153$3,409$451
33 years$15,401$10,631$7,167$4,739$3,086$378
34 years$14,785$10,076$6,697$4,360$2,794$317
35 years$14,205$9,556$6,261$4,014$2,530$265
36 years$13,659$9,070$5,857$3,697$2,293$222
37 years$13,143$8,615$5,482$3,406$2,078$186
38 years$12,656$8,187$5,134$3,139$1,884$156
39 years$12,195$7,785$4,810$2,895$1,708$131
40 years$11,758$7,407$4,508$2,670$1,549$110
41 years$11,343$7,051$4,227$2,463$1,406$92
42 years$10,949$6,715$3,965$2,273$1,276$77
43 years$10,575$6,398$3,721$2,099$1,158$65
44 years$10,218$6,099$3,493$1,938$1,051$54
45 years$9,878$5,816$3,279$1,790$954$45
46 years$9,554$5,548$3,080$1,653$866$38
47 years$9,245$5,294$2,894$1,527$786$32
48 years$8,950$5,054$2,719$1,411$714$27
49 years$8,667$4,826$2,556$1,304$649$22
50 years$8,397$4,610$2,403$1,205$589$19

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 $5,365 every year, while hoping to spend $44,481 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: 57/23/20 Blend
57$8,600,000$8,600,000$8,600,000$8,600,000
58$9,482,734$9,026,934$8,893,634$9,972,306
59$10,402,645$9,421,926$9,144,243$10,701,263
60$11,414,897$9,834,782$9,401,757$11,490,050
61$12,528,860$10,266,331$9,666,360$12,348,705
62$13,754,862$10,717,439$9,938,241$13,283,963
63$15,104,279$11,189,015$10,217,593$14,303,230
64$16,589,650$11,682,010$10,504,617$15,414,652
65$18,224,787$12,197,422$10,799,514$16,627,188
66$20,024,913$12,736,293$11,102,495$17,950,695
67$22,006,799$13,299,716$11,413,774$19,396,017
68$24,188,927$13,888,837$11,733,570$20,975,083
69$26,591,661$14,504,853$12,062,108$22,701,021
70$29,237,441$15,149,021$12,399,619$24,588,278
71$32,150,993$15,822,657$12,746,340$26,652,752
72$35,359,565$16,527,138$13,102,513$28,911,940
73$38,893,180$17,263,907$13,468,387$31,385,101
74$42,784,923$18,034,477$13,844,216$34,093,435
75$47,071,249$18,840,431$14,230,261$37,060,277
76$51,792,332$19,683,427$14,626,791$40,311,317
77$56,992,440$20,565,205$15,034,078$43,874,837
78$62,720,353$21,487,584$15,452,404$47,781,977
79$69,029,826$22,452,473$15,882,056$52,067,022
80$75,980,093$23,461,869$16,323,330$56,767,722
81$83,636,428$24,517,866$16,776,527$61,925,646
82$92,070,760$25,622,658$17,241,957$67,586,569
83$101,362,351$26,778,541$17,719,936$73,800,899
84$111,598,546$27,987,925$18,210,789$80,624,149
85$122,875,596$29,253,332$18,714,849$88,117,455
86$135,299,566$30,577,404$19,232,455$96,348,150
87$148,987,337$31,962,912$19,763,958$105,390,392
88$164,067,707$33,412,757$20,309,712$115,325,858
89$180,682,611$34,929,980$20,870,085$126,244,512
90$198,988,455$36,517,766$21,445,451$138,245,445
91$219,157,596$38,179,455$22,036,192$151,437,808
92$241,379,967$39,918,545$22,642,701$165,941,830
93$265,864,871$41,738,701$23,265,379$181,889,950
94$292,842,957$43,643,766$23,904,637$199,428,060
95$322,568,392$45,637,765$24,560,897$218,716,872
96$355,321,269$47,724,916$25,234,588$239,933,430
97$391,410,243$49,909,642$25,926,151$263,272,770
98$431,175,448$52,196,574$26,636,037$288,949,756
99$474,991,706$54,590,569$27,364,707$317,201,096
100$523,272,069$57,096,715$28,112,633$348,287,570