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%18%
1 years$710,180$703,854$697,682$691,658$685,776$663,558
2 years$351,574$345,026$338,681$332,528$326,560$304,385
3 years$232,055$225,479$219,149$213,054$207,183$185,746
4 years$172,307$165,751$159,484$153,493$147,765$127,230
5 years$136,467$129,951$123,766$117,898$112,328$92,751
6 years$112,582$106,114$100,022$94,284$88,882$70,278
7 years$95,528$89,115$83,118$77,516$72,285$54,652
8 years$82,743$76,388$70,491$65,026$59,967$43,293
9 years$72,804$66,509$60,714$55,388$50,501$34,767
10 years$64,858$58,625$52,932$47,745$43,029$28,211
11 years$58,361$52,190$46,600$41,552$37,007$23,076
12 years$52,951$46,843$41,357$36,447$32,069$18,996
13 years$48,376$42,332$36,949$32,177$27,965$15,717
14 years$44,459$38,479$33,199$28,563$24,514$13,058
15 years$41,066$35,151$29,974$25,473$21,584$10,884
16 years$38,101$32,251$27,176$22,809$19,076$9,097
17 years$35,488$29,702$24,729$20,493$16,914$7,621
18 years$33,167$27,446$22,575$18,469$15,039$6,396
19 years$31,093$25,436$20,666$16,688$13,405$5,377
20 years$29,229$23,637$18,966$15,114$11,973$4,525
21 years$27,544$22,017$17,445$13,717$10,715$3,813
22 years$26,015$20,552$16,078$12,472$9,604$3,216
23 years$24,621$19,222$14,846$11,359$8,621$2,714
24 years$23,344$18,009$13,730$10,360$7,749$2,292
25 years$22,172$16,901$12,716$9,461$6,973$1,937
26 years$21,092$15,884$11,794$8,651$6,281$1,637
27 years$20,093$14,949$10,952$7,918$5,663$1,385
28 years$19,168$14,086$10,181$7,255$5,110$1,171
29 years$18,307$13,289$9,474$6,653$4,614$991
30 years$17,506$12,550$8,825$6,106$4,169$839
31 years$16,758$11,864$8,227$5,607$3,769$710
32 years$16,058$11,225$7,676$5,153$3,409$601
33 years$15,401$10,631$7,167$4,739$3,086$509
34 years$14,785$10,076$6,697$4,360$2,794$431
35 years$14,205$9,556$6,261$4,014$2,530$365
36 years$13,659$9,070$5,857$3,697$2,293$309
37 years$13,143$8,615$5,482$3,406$2,078$262
38 years$12,656$8,187$5,134$3,139$1,884$222
39 years$12,195$7,785$4,810$2,895$1,708$188
40 years$11,758$7,407$4,508$2,670$1,549$159
41 years$11,343$7,051$4,227$2,463$1,406$135
42 years$10,949$6,715$3,965$2,273$1,276$114
43 years$10,575$6,398$3,721$2,099$1,158$97
44 years$10,218$6,099$3,493$1,938$1,051$82
45 years$9,878$5,816$3,279$1,790$954$70
46 years$9,554$5,548$3,080$1,653$866$59
47 years$9,245$5,294$2,894$1,527$786$50
48 years$8,950$5,054$2,719$1,411$714$42
49 years$8,667$4,826$2,556$1,304$649$36
50 years$8,397$4,610$2,403$1,205$589$30

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 $4,940 every year, while hoping to spend $48,060 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: 53/22/25 Blend
57$8,600,000$8,600,000$8,600,000$8,600,000
58$9,482,296$9,026,496$8,893,196$9,918,771
59$10,398,354$9,417,658$9,139,982$10,611,957
60$11,406,240$9,826,377$9,393,425$11,360,548
61$12,515,269$10,253,462$9,653,697$12,174,220
62$13,735,705$10,699,760$9,920,975$13,059,207
63$15,078,857$11,166,159$10,195,438$14,022,368
64$16,557,188$11,653,588$10,477,272$15,071,243
65$18,184,427$12,163,020$10,766,667$16,214,125
66$19,975,705$12,695,474$11,063,816$17,460,137
67$21,947,691$13,252,017$11,368,919$18,819,311
68$24,118,756$13,833,766$11,682,177$20,302,689
69$26,509,140$14,441,891$12,003,801$21,922,415
70$29,141,146$15,077,618$12,334,003$23,691,855
71$32,039,352$15,742,230$12,673,001$25,625,714
72$35,230,837$16,437,071$13,021,018$27,740,179
73$38,745,444$17,163,548$13,378,283$30,053,061
74$42,616,053$17,923,137$13,745,030$32,583,967
75$46,878,900$18,717,380$14,121,498$35,354,479
76$51,573,912$19,547,895$14,507,932$38,388,352
77$56,745,086$20,416,377$14,904,583$41,711,741
78$62,440,904$21,324,599$15,311,706$45,353,437
79$68,714,793$22,274,421$15,729,564$49,345,140
80$75,625,623$23,267,788$16,158,426$53,721,755
81$83,238,268$24,306,742$16,598,564$58,521,714
82$91,624,216$25,393,417$17,050,261$63,787,334
83$100,862,243$26,530,051$17,513,802$69,565,217
84$111,039,159$27,718,991$17,989,481$75,906,681
85$122,250,622$28,962,690$18,477,598$82,868,243
86$134,602,047$30,263,724$18,978,459$90,512,143
87$148,209,596$31,624,786$19,492,378$98,906,930
88$163,201,276$33,048,702$20,019,674$108,128,103
89$179,718,149$34,538,431$20,560,675$118,258,818
90$197,915,658$36,097,072$21,115,715$129,390,666
91$217,965,100$37,727,873$21,685,137$141,624,532
92$240,055,239$39,434,238$22,269,288$155,071,542
93$264,394,090$41,219,733$22,868,526$169,854,105
94$291,210,881$43,088,093$23,483,215$186,107,058
95$320,758,215$45,043,234$24,113,727$203,978,939
96$353,314,457$47,089,256$24,760,441$223,633,374
97$389,186,361$49,230,460$25,423,745$245,250,618
98$428,711,966$51,471,348$26,104,036$269,029,248
99$472,263,782$53,816,640$26,801,718$295,188,027
100$520,252,315$56,271,282$27,517,202$323,967,963