Can I retire at age 58 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$701,922$695,670$689,570$683,616$677,802$673,813
2 years$347,486$341,015$334,743$328,661$322,763$318,738
3 years$229,356$222,857$216,601$210,577$204,774$200,839
4 years$170,303$163,823$157,630$151,709$146,047$142,231
5 years$134,880$128,439$122,327$116,527$111,022$107,337
6 years$111,273$104,880$98,859$93,187$87,848$84,299
7 years$94,417$88,078$82,152$76,614$71,444$68,032
8 years$81,781$75,500$69,671$64,270$59,270$55,995
9 years$71,958$65,736$60,008$54,744$49,914$46,775
10 years$64,104$57,943$52,316$47,190$42,529$39,526
11 years$57,683$51,583$46,058$41,069$36,576$33,706
12 years$52,335$46,298$40,876$36,023$31,696$28,956
13 years$47,814$41,840$36,520$31,803$27,640$25,028
14 years$43,942$38,032$32,813$28,231$24,229$21,742
15 years$40,589$34,743$29,626$25,177$21,333$18,967
16 years$37,658$31,876$26,860$22,544$18,854$16,607
17 years$35,075$29,356$24,442$20,255$16,717$14,585
18 years$32,781$27,126$22,312$18,254$14,864$12,843
19 years$30,731$25,141$20,426$16,494$13,249$11,334
20 years$28,889$23,362$18,746$14,939$11,834$10,023
21 years$27,224$21,761$17,242$13,558$10,590$8,879
22 years$25,712$20,313$15,892$12,327$9,493$7,877
23 years$24,334$18,998$14,673$11,226$8,521$6,998
24 years$23,073$17,800$13,570$10,239$7,659$6,223
25 years$21,914$16,704$12,569$9,351$6,892$5,541
26 years$20,847$15,699$11,657$8,550$6,208$4,937
27 years$19,860$14,775$10,824$7,826$5,597$4,403
28 years$18,945$13,922$10,063$7,170$5,050$3,929
29 years$18,094$13,134$9,364$6,575$4,560$3,509
30 years$17,302$12,404$8,722$6,035$4,121$3,135
31 years$16,563$11,726$8,132$5,542$3,725$2,803
32 years$15,871$11,095$7,587$5,093$3,370$2,506
33 years$15,222$10,507$7,084$4,684$3,050$2,242
34 years$14,613$9,958$6,619$4,310$2,761$2,007
35 years$14,040$9,445$6,188$3,967$2,501$1,797
36 years$13,500$8,965$5,789$3,654$2,266$1,609
37 years$12,990$8,515$5,418$3,366$2,054$1,441
38 years$12,509$8,092$5,074$3,103$1,862$1,291
39 years$12,053$7,695$4,754$2,861$1,688$1,157
40 years$11,621$7,321$4,456$2,639$1,531$1,037
41 years$11,211$6,969$4,178$2,435$1,389$930
42 years$10,822$6,637$3,919$2,247$1,261$834
43 years$10,452$6,324$3,678$2,074$1,144$747
44 years$10,099$6,028$3,452$1,915$1,039$670
45 years$9,763$5,748$3,241$1,769$943$601
46 years$9,443$5,483$3,044$1,634$856$539
47 years$9,138$5,233$2,860$1,509$777$484
48 years$8,846$4,995$2,688$1,395$706$434
49 years$8,566$4,770$2,526$1,289$641$389
50 years$8,299$4,557$2,375$1,191$582$349

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,500,000, adding $4,836 every year, while hoping to spend $50,090 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: 74/16/10 Blend
57$8,500,000$8,500,000$8,500,000$8,500,000
58$9,371,988$8,921,488$8,789,738$10,048,039
59$10,274,636$9,305,346$9,030,899$10,878,532
60$11,267,674$9,706,334$9,278,460$11,781,368
61$12,360,271$10,125,238$9,532,583$12,769,081
62$13,562,527$10,562,883$9,793,432$13,850,064
63$14,885,570$11,020,129$10,061,177$15,033,555
64$16,341,663$11,497,881$10,335,992$16,329,722
65$17,944,317$11,997,081$10,618,052$17,749,761
66$19,708,420$12,518,720$10,907,539$19,305,998
67$21,650,375$13,063,834$11,204,638$21,012,001
68$23,788,258$13,633,507$11,509,538$22,882,714
69$26,141,986$14,228,874$11,822,433$24,934,588
70$28,733,505$14,851,125$12,143,521$27,185,742
71$31,586,997$15,501,506$12,473,004$29,656,124
72$34,729,110$16,181,319$12,811,089$32,367,706
73$38,189,206$16,891,930$13,157,987$35,344,684
74$41,999,641$17,634,770$13,513,915$38,613,705
75$46,196,066$18,411,335$13,879,093$42,204,117
76$50,817,769$19,223,195$14,253,747$46,148,246
77$55,908,042$20,071,992$14,638,107$50,481,694
78$61,514,588$20,959,445$15,032,410$55,243,676
79$67,689,976$21,887,358$15,436,896$60,477,388
80$74,492,132$22,857,617$15,851,810$66,230,410
81$81,984,887$23,872,198$16,277,404$72,555,154
82$90,238,583$24,933,173$16,713,934$79,509,355
83$99,330,729$26,042,709$17,161,662$87,156,612
84$109,346,740$27,203,079$17,620,854$95,566,989
85$120,380,739$28,416,661$18,091,784$104,817,669
86$132,536,446$29,685,949$18,574,730$114,993,681
87$145,928,156$31,013,554$19,069,977$126,188,697
88$160,681,820$32,402,210$19,577,813$138,505,919
89$176,936,231$33,854,784$20,098,535$152,059,041
90$194,844,336$35,374,277$20,632,445$166,973,322
91$214,574,676$36,963,834$21,179,850$183,386,766
92$236,312,982$38,626,751$21,741,063$201,451,417
93$260,263,923$40,366,478$22,316,406$221,334,793
94$286,653,041$42,186,634$22,906,204$243,221,459
95$315,728,878$44,091,006$23,510,789$267,314,767
96$347,765,323$46,083,565$24,130,500$293,838,771
97$383,064,197$48,168,471$24,765,683$323,040,331
98$421,958,101$50,350,081$25,416,688$355,191,448
99$464,813,556$52,632,964$26,083,876$390,591,814
100$512,034,462$55,021,903$26,767,609$429,571,645