Can I retire at age 58 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$693,664$687,485$681,457$675,573$669,828$662,007
2 years$343,398$337,003$330,804$324,795$318,966$311,093
3 years$226,658$220,235$214,052$208,099$202,365$194,686
4 years$168,299$161,896$155,775$149,924$144,328$136,902
5 years$133,293$126,928$120,888$115,156$109,716$102,564
6 years$109,964$103,647$97,695$92,091$86,815$79,945
7 years$93,306$87,042$81,185$75,713$70,604$64,019
8 years$80,819$74,611$68,852$63,514$58,572$52,273
9 years$71,111$64,963$59,302$54,100$49,326$43,310
10 years$63,350$57,261$51,701$46,634$42,029$36,290
11 years$57,004$50,976$45,517$40,586$36,146$30,681
12 years$51,719$45,754$40,395$35,599$31,323$26,126
13 years$47,251$41,348$36,090$31,429$27,315$22,379
14 years$43,425$37,584$32,427$27,899$23,944$19,262
15 years$40,111$34,334$29,277$24,881$21,082$16,647
16 years$37,215$31,501$26,544$22,278$18,632$14,436
17 years$34,662$29,011$24,154$20,017$16,521$12,555
18 years$32,396$26,807$22,050$18,039$14,689$10,946
19 years$30,370$24,845$20,185$16,300$13,093$9,564
20 years$28,549$23,087$18,525$14,763$11,695$8,372
21 years$26,904$21,505$17,040$13,398$10,466$7,339
22 years$25,410$20,074$15,705$12,182$9,381$6,443
23 years$24,048$18,775$14,500$11,094$8,421$5,663
24 years$22,802$17,591$13,410$10,119$7,569$4,983
25 years$21,656$16,508$12,421$9,241$6,811$4,388
26 years$20,601$15,515$11,520$8,449$6,135$3,867
27 years$19,626$14,601$10,697$7,734$5,531$3,411
28 years$18,722$13,759$9,944$7,086$4,991$3,010
29 years$17,882$12,980$9,254$6,498$4,507$2,658
30 years$17,099$12,258$8,620$5,964$4,072$2,348
31 years$16,368$11,588$8,036$5,477$3,682$2,075
32 years$15,684$10,964$7,498$5,034$3,330$1,834
33 years$15,043$10,383$7,001$4,629$3,014$1,622
34 years$14,441$9,841$6,541$4,259$2,729$1,435
35 years$13,875$9,334$6,115$3,921$2,471$1,270
36 years$13,341$8,860$5,721$3,611$2,239$1,124
37 years$12,837$8,415$5,354$3,327$2,030$995
38 years$12,361$7,997$5,014$3,066$1,840$881
39 years$11,911$7,604$4,698$2,827$1,669$780
40 years$11,484$7,235$4,403$2,608$1,513$691
41 years$11,079$6,887$4,129$2,406$1,373$612
42 years$10,694$6,559$3,873$2,221$1,246$542
43 years$10,329$6,249$3,634$2,050$1,131$480
44 years$9,980$5,957$3,411$1,893$1,026$425
45 years$9,649$5,680$3,203$1,748$932$377
46 years$9,332$5,419$3,009$1,615$846$334
47 years$9,030$5,171$2,826$1,492$768$296
48 years$8,741$4,937$2,656$1,378$698$262
49 years$8,465$4,714$2,497$1,274$634$232
50 years$8,201$4,503$2,347$1,177$575$206

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,400,000, adding $6,421 every year, while hoping to spend $45,536 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: 63/12/25 Blend
57$8,400,000$8,400,000$8,400,000$8,400,000
58$9,263,423$8,818,223$8,688,023$9,785,510
59$10,159,842$9,201,866$8,930,622$10,523,157
60$11,146,170$9,602,782$9,179,822$11,322,899
61$12,231,529$10,021,767$9,435,795$12,195,423
62$13,425,971$10,459,660$9,698,720$13,147,859
63$14,740,571$10,917,334$9,968,778$14,188,052
64$16,187,532$11,395,706$10,246,155$15,324,640
65$17,780,301$11,895,737$10,531,043$16,567,128
66$19,533,695$12,418,431$10,823,635$17,925,978
67$21,464,038$12,964,840$11,124,133$19,412,710
68$23,589,320$13,536,068$11,432,742$21,040,005
69$25,929,364$14,133,268$11,749,672$22,821,824
70$28,506,010$14,757,650$12,075,137$24,773,540
71$31,343,329$15,410,480$12,409,360$26,912,078
72$34,467,839$16,093,084$12,752,564$29,256,076
73$37,908,765$16,806,852$13,104,982$31,826,058
74$41,698,310$17,553,238$13,466,849$34,644,625
75$45,871,958$18,333,767$13,838,409$37,736,667
76$50,468,812$19,150,036$14,219,910$41,129,598
77$55,531,958$20,003,715$14,611,605$44,853,606
78$61,108,879$20,896,558$15,013,754$48,941,945
79$67,251,894$21,830,399$15,426,625$53,431,238
80$74,018,659$22,807,161$15,850,489$58,361,826
81$81,472,707$23,828,856$16,285,625$63,778,143
82$89,684,049$24,897,596$16,732,318$69,729,133
83$98,729,832$26,015,588$17,190,861$76,268,712
84$108,695,073$27,185,150$17,661,553$83,456,272
85$119,673,455$28,408,707$18,144,699$91,357,237
86$131,768,213$29,688,799$18,640,613$100,043,682
87$145,093,111$31,028,090$19,149,613$109,595,006
88$159,773,511$32,429,369$19,672,028$120,098,678
89$175,947,560$33,895,560$20,208,192$131,651,063
90$193,767,493$35,429,724$20,758,448$144,358,327
91$213,401,067$37,035,070$21,323,146$158,337,430
92$235,033,149$38,714,962$21,902,645$173,717,235
93$258,867,456$40,472,920$22,497,309$190,639,712
94$285,128,481$42,312,638$23,107,513$209,261,281
95$314,063,612$44,237,983$23,733,641$229,754,278
96$345,945,465$46,253,009$24,376,083$252,308,582
97$381,074,459$48,361,963$25,035,238$277,133,399
98$419,781,651$50,569,297$25,711,516$304,459,236
99$462,431,861$52,879,674$26,405,333$334,540,068
100$509,427,115$55,297,983$27,117,116$367,655,731