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%12.3%
1 years$726,696$720,223$713,907$707,743$701,724$694,975
2 years$359,750$353,050$346,557$340,261$334,154$327,355
3 years$237,451$230,722$224,245$218,009$212,001$205,363
4 years$176,314$169,605$163,193$157,063$151,201$144,775
5 years$139,641$132,973$126,645$120,639$114,941$108,746
6 years$115,200$108,582$102,348$96,476$90,949$84,992
7 years$97,749$91,187$85,051$79,318$73,966$68,251
8 years$84,667$78,164$72,130$66,538$61,362$55,888
9 years$74,498$68,056$62,126$56,676$51,675$46,441
10 years$66,367$59,988$54,163$48,855$44,030$39,032
11 years$59,718$53,404$47,684$42,519$37,867$33,101
12 years$54,182$47,932$42,318$37,295$32,815$28,277
13 years$49,501$43,317$37,809$32,925$28,615$24,299
14 years$45,493$39,374$33,971$29,228$25,084$20,984
15 years$42,022$35,969$30,671$26,066$22,086$18,197
16 years$38,987$33,001$27,808$23,339$19,520$15,834
17 years$36,313$30,392$25,304$20,970$17,307$13,820
18 years$33,938$28,084$23,100$18,898$15,389$12,092
19 years$31,816$26,028$21,147$17,076$13,717$10,603
20 years$29,908$24,186$19,407$15,466$12,252$9,315
21 years$28,185$22,529$17,851$14,036$10,964$8,197
22 years$26,620$21,030$16,452$12,762$9,828$7,224
23 years$25,193$19,669$15,191$11,623$8,822$6,373
24 years$23,887$18,428$14,049$10,601$7,929$5,629
25 years$22,688$17,294$13,012$9,681$7,135$4,977
26 years$21,582$16,254$12,068$8,852$6,427$4,404
27 years$20,560$15,296$11,206$8,102$5,795$3,899
28 years$19,613$14,414$10,418$7,423$5,229$3,455
29 years$18,733$13,598$9,695$6,807$4,721$3,063
30 years$17,913$12,842$9,030$6,248$4,266$2,717
31 years$17,147$12,140$8,419$5,738$3,857$2,411
32 years$16,431$11,487$7,855$5,273$3,489$2,140
33 years$15,760$10,878$7,334$4,849$3,157$1,901
34 years$15,129$10,310$6,852$4,462$2,859$1,688
35 years$14,536$9,779$6,407$4,107$2,589$1,500
36 years$13,976$9,281$5,993$3,783$2,346$1,333
37 years$13,449$8,815$5,609$3,485$2,126$1,185
38 years$12,950$8,378$5,253$3,212$1,928$1,054
39 years$12,478$7,966$4,922$2,962$1,748$937
40 years$12,031$7,579$4,613$2,732$1,585$833
41 years$11,607$7,215$4,325$2,521$1,438$741
42 years$11,204$6,871$4,057$2,326$1,305$660
43 years$10,820$6,547$3,807$2,147$1,185$587
44 years$10,456$6,240$3,574$1,983$1,075$522
45 years$10,108$5,951$3,356$1,831$976$465
46 years$9,777$5,677$3,152$1,691$886$414
47 years$9,460$5,417$2,961$1,563$805$368
48 years$9,158$5,172$2,783$1,444$731$328
49 years$8,869$4,939$2,615$1,335$664$292
50 years$8,592$4,718$2,459$1,233$603$260

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 $4,179 every year, while hoping to spend $58,502 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: 56/32/12 Blend
57$8,800,000$8,800,000$8,800,000$8,800,000
58$9,701,911$9,235,511$9,099,111$10,215,560
59$10,629,260$9,625,805$9,341,685$10,954,057
60$11,649,238$10,033,263$9,590,425$11,751,280
61$12,771,231$10,458,664$9,845,476$12,618,270
62$14,005,582$10,902,823$10,106,984$13,561,700
63$15,363,684$11,366,595$10,375,101$14,588,908
64$16,858,093$11,850,871$10,649,980$15,707,961
65$18,502,642$12,356,587$10,931,778$16,927,729
66$20,312,573$12,884,722$11,220,654$18,257,965
67$22,304,682$13,436,299$11,516,772$19,709,400
68$24,497,472$14,012,391$11,820,296$21,293,834
69$26,911,335$14,614,118$12,131,397$23,024,247
70$29,568,738$15,242,657$12,450,246$24,914,920
71$32,494,439$15,899,237$12,777,018$26,981,567
72$35,715,716$16,585,144$13,111,893$29,241,477
73$39,262,629$17,301,726$13,455,051$31,713,674
74$43,168,300$18,050,393$13,806,679$34,419,096
75$47,469,227$18,832,623$14,166,963$37,380,785
76$52,205,629$19,649,962$14,536,097$40,624,105
77$57,421,822$20,504,029$14,914,275$44,176,972
78$63,166,639$21,396,518$15,301,695$48,070,116
79$69,493,894$22,329,205$15,698,559$52,337,366
80$76,462,882$23,303,947$16,105,072$57,015,965
81$84,138,947$24,322,691$16,521,442$62,146,917
82$92,594,091$25,387,474$16,947,882$67,775,367
83$101,907,658$26,500,431$17,384,606$73,951,023
84$112,167,081$27,663,794$17,831,833$80,728,618
85$123,468,709$28,879,905$18,289,784$88,168,425
86$135,918,711$30,151,214$18,758,685$96,336,814
87$149,634,083$31,480,287$19,238,765$105,306,875
88$164,743,750$32,869,812$19,730,255$115,159,102
89$181,389,784$34,322,604$20,233,389$125,982,145
90$199,728,742$35,841,612$20,748,408$137,873,637
91$219,933,145$37,429,922$21,275,551$150,941,113
92$242,193,107$39,090,770$21,815,063$165,303,011
93$266,718,129$40,827,543$22,367,193$181,089,787
94$293,739,075$42,643,790$22,932,191$198,445,134
95$323,510,353$44,543,227$23,510,311$217,527,332
96$356,312,312$46,529,748$24,101,810$238,510,730
97$392,453,894$48,607,432$24,706,946$261,587,384
98$432,275,545$50,780,550$25,325,983$286,968,856
99$476,152,433$53,053,579$25,959,186$314,888,206
100$524,497,984$55,431,207$26,606,821$345,602,175