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%15.6%
1 years$726,696$720,223$713,907$707,743$701,724$685,596
2 years$359,750$353,050$346,557$340,261$334,154$317,994
3 years$237,451$230,722$224,245$218,009$212,001$196,314
4 years$176,314$169,605$163,193$157,063$151,201$136,108
5 years$139,641$132,973$126,645$120,639$114,941$100,484
6 years$115,200$108,582$102,348$96,476$90,949$77,143
7 years$97,749$91,187$85,051$79,318$73,966$60,814
8 years$84,667$78,164$72,130$66,538$61,362$48,858
9 years$74,498$68,056$62,126$56,676$51,675$39,810
10 years$66,367$59,988$54,163$48,855$44,030$32,791
11 years$59,718$53,404$47,684$42,519$37,867$27,239
12 years$54,182$47,932$42,318$37,295$32,815$22,780
13 years$49,501$43,317$37,809$32,925$28,615$19,155
14 years$45,493$39,374$33,971$29,228$25,084$16,179
15 years$42,022$35,969$30,671$26,066$22,086$13,716
16 years$38,987$33,001$27,808$23,339$19,520$11,663
17 years$36,313$30,392$25,304$20,970$17,307$9,943
18 years$33,938$28,084$23,100$18,898$15,389$8,495
19 years$31,816$26,028$21,147$17,076$13,717$7,270
20 years$29,908$24,186$19,407$15,466$12,252$6,232
21 years$28,185$22,529$17,851$14,036$10,964$5,349
22 years$26,620$21,030$16,452$12,762$9,828$4,596
23 years$25,193$19,669$15,191$11,623$8,822$3,953
24 years$23,887$18,428$14,049$10,601$7,929$3,403
25 years$22,688$17,294$13,012$9,681$7,135$2,931
26 years$21,582$16,254$12,068$8,852$6,427$2,526
27 years$20,560$15,296$11,206$8,102$5,795$2,178
28 years$19,613$14,414$10,418$7,423$5,229$1,879
29 years$18,733$13,598$9,695$6,807$4,721$1,622
30 years$17,913$12,842$9,030$6,248$4,266$1,400
31 years$17,147$12,140$8,419$5,738$3,857$1,209
32 years$16,431$11,487$7,855$5,273$3,489$1,044
33 years$15,760$10,878$7,334$4,849$3,157$902
34 years$15,129$10,310$6,852$4,462$2,859$779
35 years$14,536$9,779$6,407$4,107$2,589$674
36 years$13,976$9,281$5,993$3,783$2,346$582
37 years$13,449$8,815$5,609$3,485$2,126$503
38 years$12,950$8,378$5,253$3,212$1,928$435
39 years$12,478$7,966$4,922$2,962$1,748$376
40 years$12,031$7,579$4,613$2,732$1,585$325
41 years$11,607$7,215$4,325$2,521$1,438$281
42 years$11,204$6,871$4,057$2,326$1,305$243
43 years$10,820$6,547$3,807$2,147$1,185$210
44 years$10,456$6,240$3,574$1,983$1,075$182
45 years$10,108$5,951$3,356$1,831$976$157
46 years$9,777$5,677$3,152$1,691$886$136
47 years$9,460$5,417$2,961$1,563$805$118
48 years$9,158$5,172$2,783$1,444$731$102
49 years$8,869$4,939$2,615$1,335$664$88
50 years$8,592$4,718$2,459$1,233$603$76

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 $2,844 every year, while hoping to spend $33,239 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: 81/6/13 Blend
57$8,800,000$8,800,000$8,800,000$8,800,000
58$9,700,534$9,234,134$9,097,734$10,462,149
59$10,654,622$9,651,240$9,367,142$11,379,680
60$11,704,913$10,087,671$9,644,461$12,382,019
61$12,861,185$10,544,337$9,929,921$13,481,330
62$14,134,212$11,022,195$10,223,759$14,687,320
63$15,535,864$11,522,246$10,526,218$16,010,683
64$17,079,224$12,045,538$10,837,548$17,463,195
65$18,778,706$12,593,170$11,158,006$19,057,826
66$20,650,192$13,166,294$11,487,858$20,808,863
67$22,711,187$13,766,117$11,827,376$22,732,042
68$24,980,975$14,393,904$12,176,840$24,844,693
69$27,480,809$15,050,979$12,536,539$27,165,911
70$30,234,106$15,738,733$12,906,768$29,716,725
71$33,266,673$16,458,619$13,287,833$32,520,304
72$36,606,946$17,212,163$13,680,047$35,602,167
73$40,286,259$18,000,963$14,083,734$38,990,430
74$44,339,142$18,826,696$14,499,223$42,716,064
75$48,803,646$19,691,115$14,926,858$46,813,190
76$53,721,699$20,596,060$15,366,989$51,319,398
77$59,139,506$21,543,461$15,819,977$56,276,101
78$65,107,982$22,535,337$16,286,193$61,728,925
79$71,683,235$23,573,808$16,766,019$67,728,136
80$78,927,092$24,661,091$17,259,848$74,329,116
81$86,907,686$25,799,515$17,768,083$81,592,882
82$95,700,096$26,991,518$18,291,141$89,586,661
83$105,387,059$28,239,655$18,829,447$98,384,524
84$116,059,746$29,546,606$19,383,441$108,068,081
85$127,818,629$30,915,178$19,953,575$118,727,251
86$140,774,423$32,348,316$20,540,313$130,461,109
87$155,049,134$33,849,103$21,144,134$143,378,819
88$170,777,211$35,420,774$21,765,527$157,600,662
89$188,106,813$37,066,719$22,404,999$173,259,169
90$207,201,210$38,790,490$23,063,069$190,500,373
91$228,240,322$40,595,812$23,740,270$209,485,179
92$251,422,417$42,486,590$24,437,151$230,390,887
93$276,965,986$44,466,915$25,154,279$253,412,858
94$305,111,802$46,541,079$25,892,232$278,766,358
95$336,125,192$48,713,578$26,651,608$306,688,590
96$370,298,545$50,989,128$27,433,021$337,440,925
97$407,954,071$53,372,669$28,237,101$371,311,368
98$449,446,841$55,869,384$29,064,498$408,617,278
99$495,168,138$58,484,704$29,915,879$449,708,354
100$545,549,157$61,224,322$30,791,929$494,969,938