Can I retire at age 58 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$388,122$384,664$381,291$377,999$374,785$362,353
2 years$192,139$188,561$185,093$181,730$178,469$166,064
3 years$126,821$123,227$119,767$116,436$113,228$101,241
4 years$94,168$90,585$87,160$83,886$80,755$69,277
5 years$74,581$71,019$67,640$64,432$61,389$50,450
6 years$61,527$57,993$54,663$51,527$48,575$38,184
7 years$52,207$48,702$45,425$42,363$39,504$29,660
8 years$45,220$41,747$38,524$35,538$32,773$23,468
9 years$39,788$36,348$33,181$30,270$27,599$18,823
10 years$35,446$32,039$28,928$26,093$23,516$15,254
11 years$31,895$28,522$25,468$22,709$20,225$12,462
12 years$28,938$25,600$22,602$19,919$17,526$10,245
13 years$26,438$23,135$20,193$17,585$15,283$8,465
14 years$24,297$21,029$18,144$15,610$13,397$7,023
15 years$22,443$19,211$16,381$13,922$11,796$5,846
16 years$20,823$17,625$14,852$12,465$10,425$4,879
17 years$19,394$16,232$13,515$11,200$9,244$4,081
18 years$18,126$14,999$12,337$10,093$8,219$3,420
19 years$16,993$13,901$11,294$9,120$7,326$2,871
20 years$15,974$12,918$10,365$8,260$6,544$2,412
21 years$15,053$12,032$9,534$7,497$5,856$2,030
22 years$14,217$11,232$8,787$6,816$5,249$1,709
23 years$13,455$10,505$8,113$6,208$4,712$1,440
24 years$12,758$9,842$7,503$5,662$4,235$1,214
25 years$12,117$9,237$6,950$5,171$3,811$1,024
26 years$11,527$8,681$6,445$4,728$3,433$865
27 years$10,981$8,170$5,985$4,327$3,095$730
28 years$10,475$7,698$5,564$3,965$2,793$617
29 years$10,005$7,262$5,178$3,636$2,522$521
30 years$9,567$6,859$4,823$3,337$2,278$440
31 years$9,158$6,484$4,496$3,065$2,060$372
32 years$8,776$6,135$4,195$2,816$1,863$314
33 years$8,417$5,810$3,917$2,590$1,686$266
34 years$8,080$5,506$3,660$2,383$1,527$225
35 years$7,763$5,223$3,422$2,194$1,383$190
36 years$7,465$4,957$3,201$2,020$1,253$161
37 years$7,183$4,708$2,996$1,861$1,136$136
38 years$6,917$4,474$2,806$1,716$1,030$115
39 years$6,664$4,255$2,629$1,582$934$97
40 years$6,426$4,048$2,464$1,459$847$82
41 years$6,199$3,853$2,310$1,346$768$70
42 years$5,984$3,670$2,167$1,242$697$59
43 years$5,779$3,497$2,033$1,147$633$50
44 years$5,584$3,333$1,909$1,059$574$42
45 years$5,399$3,178$1,792$978$521$36
46 years$5,222$3,032$1,683$903$473$30
47 years$5,053$2,893$1,581$835$430$25
48 years$4,891$2,762$1,486$771$390$22
49 years$4,737$2,638$1,397$713$355$18
50 years$4,589$2,520$1,313$659$322$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $4,700,000, adding $2,198 every year, while hoping to spend $51,686 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: 69/16/15 Blend
57$4,700,000$4,700,000$4,700,000$4,700,000
58$5,181,667$4,932,567$4,859,717$5,521,107
59$5,655,204$5,119,270$4,967,524$5,933,990
60$6,175,309$5,313,388$5,077,211$6,379,197
61$6,746,678$5,515,231$5,188,784$6,864,977
62$7,374,483$5,725,122$5,302,253$7,395,320
63$8,064,423$5,943,396$5,417,621$7,974,615
64$8,822,776$6,170,404$5,534,894$8,607,696
65$9,656,458$6,406,513$5,654,071$9,299,884
66$10,573,090$6,652,104$5,775,155$10,057,036
67$11,581,065$6,907,578$5,898,143$10,885,605
68$12,689,633$7,173,349$6,023,031$11,792,691
69$13,908,986$7,449,853$6,149,812$12,786,115
70$15,250,350$7,737,543$6,278,479$13,874,491
71$16,726,097$8,036,894$6,409,019$15,067,302
72$18,349,857$8,348,400$6,541,419$16,374,994
73$20,136,648$8,672,577$6,675,662$17,809,071
74$22,103,017$9,009,964$6,811,728$19,382,202
75$24,267,197$9,361,125$6,949,593$21,108,343
76$26,649,279$9,726,648$7,089,232$23,002,863
77$29,271,397$10,107,146$7,230,614$25,082,695
78$32,157,945$10,503,261$7,373,704$27,366,487
79$35,335,798$10,915,663$7,518,466$29,874,781
80$38,834,570$11,345,052$7,664,855$32,630,209
81$42,686,895$11,792,158$7,812,827$35,657,698
82$46,928,730$12,257,745$7,962,328$38,984,710
83$51,599,696$12,742,611$8,113,302$42,641,498
84$56,743,455$13,247,588$8,265,687$46,661,392
85$62,408,115$13,773,548$8,419,416$51,081,108
86$68,646,691$14,321,400$8,574,414$55,941,100
87$75,517,600$14,892,095$8,730,603$61,285,933
88$83,085,213$15,486,625$8,887,896$67,164,709
89$91,420,465$16,106,030$9,046,201$73,631,524
90$100,601,519$16,751,393$9,205,416$80,745,980
91$110,714,511$17,423,847$9,365,434$88,573,745
92$121,854,354$18,124,579$9,526,139$97,187,172
93$134,125,641$18,854,826$9,687,407$106,665,980
94$147,643,626$19,615,882$9,849,105$117,098,002
95$162,535,317$20,409,101$10,011,091$128,580,019
96$178,940,669$21,235,897$10,173,213$141,218,664
97$197,013,910$22,097,749$10,335,308$155,131,431
98$216,924,993$22,996,202$10,497,204$170,447,783
99$238,861,199$23,932,873$10,658,717$187,310,368
100$263,028,908$24,909,451$10,819,652$205,876,367