Can I retire at age 58 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$726,696$720,223$713,907$707,743$701,724$693,243
2 years$359,750$353,050$346,557$340,261$334,154$325,619
3 years$237,451$230,722$224,245$218,009$212,001$203,677
4 years$176,314$169,605$163,193$157,063$151,201$143,152
5 years$139,641$132,973$126,645$120,639$114,941$107,190
6 years$115,200$108,582$102,348$96,476$90,949$83,506
7 years$97,749$91,187$85,051$79,318$73,966$66,834
8 years$84,667$78,164$72,130$66,538$61,362$54,540
9 years$74,498$68,056$62,126$56,676$51,675$45,161
10 years$66,367$59,988$54,163$48,855$44,030$37,819
11 years$59,718$53,404$47,684$42,519$37,867$31,954
12 years$54,182$47,932$42,318$37,295$32,815$27,192
13 years$49,501$43,317$37,809$32,925$28,615$23,277
14 years$45,493$39,374$33,971$29,228$25,084$20,022
15 years$42,022$35,969$30,671$26,066$22,086$17,292
16 years$38,987$33,001$27,808$23,339$19,520$14,985
17 years$36,313$30,392$25,304$20,970$17,307$13,023
18 years$33,938$28,084$23,100$18,898$15,389$11,346
19 years$31,816$26,028$21,147$17,076$13,717$9,906
20 years$29,908$24,186$19,407$15,466$12,252$8,665
21 years$28,185$22,529$17,851$14,036$10,964$7,591
22 years$26,620$21,030$16,452$12,762$9,828$6,659
23 years$25,193$19,669$15,191$11,623$8,822$5,848
24 years$23,887$18,428$14,049$10,601$7,929$5,142
25 years$22,688$17,294$13,012$9,681$7,135$4,524
26 years$21,582$16,254$12,068$8,852$6,427$3,984
27 years$20,560$15,296$11,206$8,102$5,795$3,511
28 years$19,613$14,414$10,418$7,423$5,229$3,096
29 years$18,733$13,598$9,695$6,807$4,721$2,732
30 years$17,913$12,842$9,030$6,248$4,266$2,411
31 years$17,147$12,140$8,419$5,738$3,857$2,129
32 years$16,431$11,487$7,855$5,273$3,489$1,881
33 years$15,760$10,878$7,334$4,849$3,157$1,662
34 years$15,129$10,310$6,852$4,462$2,859$1,469
35 years$14,536$9,779$6,407$4,107$2,589$1,299
36 years$13,976$9,281$5,993$3,783$2,346$1,148
37 years$13,449$8,815$5,609$3,485$2,126$1,016
38 years$12,950$8,378$5,253$3,212$1,928$898
39 years$12,478$7,966$4,922$2,962$1,748$795
40 years$12,031$7,579$4,613$2,732$1,585$703
41 years$11,607$7,215$4,325$2,521$1,438$622
42 years$11,204$6,871$4,057$2,326$1,305$551
43 years$10,820$6,547$3,807$2,147$1,185$488
44 years$10,456$6,240$3,574$1,983$1,075$432
45 years$10,108$5,951$3,356$1,831$976$382
46 years$9,777$5,677$3,152$1,691$886$338
47 years$9,460$5,417$2,961$1,563$805$299
48 years$9,158$5,172$2,783$1,444$731$265
49 years$8,869$4,939$2,615$1,335$664$235
50 years$8,592$4,718$2,459$1,233$603$208

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,800,000, adding $4,967 every year, while hoping to spend $20,431 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: 81/7/12 Blend
57$8,800,000$8,800,000$8,800,000$8,800,000
58$9,702,723$9,236,323$9,099,923$10,467,179
59$10,670,663$9,667,165$9,383,032$11,400,349
60$11,736,647$10,118,433$9,674,941$12,421,268
61$12,910,656$10,591,106$9,975,922$13,541,312
62$14,203,685$11,086,213$10,286,257$14,770,404
63$15,627,851$11,604,827$10,606,237$16,119,477
64$17,196,507$12,148,079$10,936,161$17,600,568
65$18,924,366$12,717,151$11,276,338$19,226,938
66$20,827,642$13,313,282$11,627,086$21,013,188
67$22,924,201$13,937,772$11,988,734$22,975,403
68$25,233,732$14,591,986$12,361,619$25,131,300
69$27,777,930$15,277,350$12,746,090$27,500,392
70$30,580,702$15,995,364$13,142,507$30,104,174
71$33,668,394$16,747,597$13,551,241$32,966,324
72$37,070,037$17,535,695$13,972,675$36,112,924
73$40,817,623$18,361,386$14,407,201$39,572,707
74$44,946,405$19,226,479$14,855,227$43,377,324
75$49,495,233$20,132,871$15,317,172$47,561,643
76$54,506,916$21,082,552$15,793,467$52,164,079
77$60,028,631$22,077,606$16,284,558$57,226,948
78$66,112,365$23,120,222$16,790,903$62,796,874
79$72,815,404$24,212,691$17,312,977$68,925,220
80$80,200,881$25,357,418$17,851,267$75,668,575
81$88,338,362$26,556,923$18,406,276$83,089,284
82$97,304,512$27,813,850$18,978,523$91,256,037
83$107,183,812$29,130,968$19,568,543$100,244,514
84$118,069,359$30,511,183$20,176,888$110,138,097
85$130,063,745$31,957,543$20,804,125$121,028,656
86$143,280,025$33,473,240$21,450,841$133,017,413
87$157,842,783$35,061,624$22,117,639$146,215,896
88$173,889,311$36,726,208$22,805,144$160,746,989
89$191,570,901$38,470,672$23,513,997$176,746,090
90$211,054,277$40,298,880$24,244,860$194,362,384
91$232,523,167$42,214,878$24,998,416$213,760,254
92$256,180,036$44,222,913$25,775,369$235,120,822
93$282,248,000$46,327,436$26,576,444$258,643,664
94$310,972,931$48,533,115$27,402,390$284,548,686
95$342,625,777$50,844,845$28,253,977$313,078,196
96$377,505,122$53,267,759$29,132,002$344,499,193
97$415,940,003$55,807,237$30,037,282$379,105,877
98$458,293,017$58,468,925$30,970,665$417,222,431
99$504,963,743$61,258,741$31,933,020$459,206,068
100$556,392,515$64,182,890$32,925,247$505,450,408