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

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 $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$710,180$703,854$697,682$691,658$685,776$670,287
2 years$351,574$345,026$338,681$332,528$326,560$311,038
3 years$232,055$225,479$219,149$213,054$207,183$192,113
4 years$172,307$165,751$159,484$153,493$147,765$133,262
5 years$136,467$129,951$123,766$117,898$112,328$98,435
6 years$112,582$106,114$100,022$94,284$88,882$75,611
7 years$95,528$89,115$83,118$77,516$72,285$59,640
8 years$82,743$76,388$70,491$65,026$59,967$47,943
9 years$72,804$66,509$60,714$55,388$50,501$39,088
10 years$64,858$58,625$52,932$47,745$43,029$32,216
11 years$58,361$52,190$46,600$41,552$37,007$26,778
12 years$52,951$46,843$41,357$36,447$32,069$22,410
13 years$48,376$42,332$36,949$32,177$27,965$18,856
14 years$44,459$38,479$33,199$28,563$24,514$15,938
15 years$41,066$35,151$29,974$25,473$21,584$13,521
16 years$38,101$32,251$27,176$22,809$19,076$11,505
17 years$35,488$29,702$24,729$20,493$16,914$9,815
18 years$33,167$27,446$22,575$18,469$15,039$8,392
19 years$31,093$25,436$20,666$16,688$13,405$7,188
20 years$29,229$23,637$18,966$15,114$11,973$6,166
21 years$27,544$22,017$17,445$13,717$10,715$5,296
22 years$26,015$20,552$16,078$12,472$9,604$4,554
23 years$24,621$19,222$14,846$11,359$8,621$3,920
24 years$23,344$18,009$13,730$10,360$7,749$3,377
25 years$22,172$16,901$12,716$9,461$6,973$2,911
26 years$21,092$15,884$11,794$8,651$6,281$2,511
27 years$20,093$14,949$10,952$7,918$5,663$2,167
28 years$19,168$14,086$10,181$7,255$5,110$1,871
29 years$18,307$13,289$9,474$6,653$4,614$1,616
30 years$17,506$12,550$8,825$6,106$4,169$1,396
31 years$16,758$11,864$8,227$5,607$3,769$1,207
32 years$16,058$11,225$7,676$5,153$3,409$1,043
33 years$15,401$10,631$7,167$4,739$3,086$902
34 years$14,785$10,076$6,697$4,360$2,794$780
35 years$14,205$9,556$6,261$4,014$2,530$675
36 years$13,659$9,070$5,857$3,697$2,293$584
37 years$13,143$8,615$5,482$3,406$2,078$505
38 years$12,656$8,187$5,134$3,139$1,884$437
39 years$12,195$7,785$4,810$2,895$1,708$378
40 years$11,758$7,407$4,508$2,670$1,549$327
41 years$11,343$7,051$4,227$2,463$1,406$283
42 years$10,949$6,715$3,965$2,273$1,276$245
43 years$10,575$6,398$3,721$2,099$1,158$212
44 years$10,218$6,099$3,493$1,938$1,051$184
45 years$9,878$5,816$3,279$1,790$954$159
46 years$9,554$5,548$3,080$1,653$866$138
47 years$9,245$5,294$2,894$1,527$786$119
48 years$8,950$5,054$2,719$1,411$714$103
49 years$8,667$4,826$2,556$1,304$649$89
50 years$8,397$4,610$2,403$1,205$589$77

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 $6,667 every year, while hoping to spend $40,438 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: 39/34/27 Blend
57$8,600,000$8,600,000$8,600,000$8,600,000
58$9,484,077$9,028,277$8,894,977$9,777,740
59$10,408,427$9,427,637$9,149,933$10,391,855
60$11,425,706$9,845,210$9,412,075$11,051,231
61$12,545,349$10,281,846$9,681,600$11,763,463
62$13,777,753$10,738,436$9,958,713$12,533,394
63$15,134,375$11,215,911$10,243,621$13,366,339
64$16,627,839$11,715,247$10,536,540$14,268,132
65$18,272,053$12,237,469$10,837,688$15,245,175
66$20,082,344$12,783,647$11,147,293$16,304,502
67$22,075,601$13,354,904$11,465,585$17,453,837
68$24,270,434$13,952,415$11,792,803$18,701,663
69$26,687,348$14,577,413$12,129,192$20,057,301
70$29,348,938$15,231,187$12,475,001$21,530,992
71$32,280,105$15,915,090$12,830,488$23,133,991
72$35,508,284$16,630,538$13,195,918$24,878,670
73$39,063,709$17,379,015$13,571,562$26,778,626
74$42,979,696$18,162,075$13,957,697$28,848,811
75$47,292,955$18,981,346$14,354,610$31,105,663
76$52,043,940$19,838,536$14,762,593$33,567,258
77$57,277,229$20,735,432$15,181,947$36,253,477
78$63,041,946$21,673,907$15,612,981$39,186,187
79$69,392,220$22,655,924$16,056,012$42,389,439
80$76,387,702$23,683,540$16,511,364$45,889,696
81$84,094,124$24,758,910$16,979,371$49,716,068
82$92,583,919$25,884,291$17,460,375$53,900,588
83$101,936,908$27,062,050$17,954,726$58,478,503
84$112,241,048$28,294,667$18,462,785$63,488,599
85$123,593,268$29,584,738$18,984,922$68,973,566
86$136,100,379$30,934,988$19,521,514$74,980,384
87$149,880,084$32,348,269$20,072,951$81,560,767
88$165,062,089$33,827,570$20,639,632$88,771,638
89$181,789,327$35,376,026$21,221,964$96,675,658
90$200,219,307$36,996,920$21,820,368$105,341,809
91$220,525,600$38,693,693$22,435,274$114,846,037
92$242,899,478$40,469,951$23,067,123$125,271,957
93$267,551,721$42,329,474$23,716,368$136,711,630
94$294,714,602$44,276,224$24,383,471$149,266,428
95$324,644,083$46,314,351$25,068,910$163,047,970
96$357,622,233$48,448,207$25,773,172$178,179,172
97$393,959,884$50,682,353$26,496,756$194,795,390
98$433,999,571$53,021,567$27,240,177$213,045,687
99$478,118,764$55,470,860$28,003,959$233,094,226
100$526,733,428$58,035,482$28,788,641$255,121,803