Can I retire at age 58 with 4,800,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $4,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$396,380$392,849$389,404$386,042$382,759$374,877
2 years$196,227$192,573$189,031$185,597$182,266$174,362
3 years$129,519$125,849$122,316$118,914$115,637$107,956
4 years$96,171$92,512$89,014$85,671$82,473$75,075
5 years$76,168$72,531$69,079$65,803$62,695$55,600
6 years$62,836$59,227$55,826$52,623$49,608$42,825
7 years$53,318$49,738$46,392$43,265$40,345$33,874
8 years$46,182$42,635$39,344$36,294$33,470$27,310
9 years$40,635$37,121$33,887$30,914$28,187$22,333
10 years$36,200$32,721$29,543$26,648$24,016$18,463
11 years$32,574$29,129$26,009$23,192$20,655$15,396
12 years$29,554$26,145$23,083$20,342$17,899$12,926
13 years$27,001$23,627$20,623$17,959$15,608$10,913
14 years$24,814$21,477$18,530$15,942$13,682$9,255
15 years$22,921$19,619$16,730$14,218$12,047$7,879
16 years$21,266$18,000$15,168$12,730$10,647$6,728
17 years$19,807$16,578$13,802$11,438$9,440$5,761
18 years$18,512$15,318$12,600$10,308$8,394$4,943
19 years$17,354$14,197$11,534$9,314$7,482$4,250
20 years$16,314$13,193$10,586$8,436$6,683$3,659
21 years$15,373$12,288$9,737$7,656$5,980$3,155
22 years$14,520$11,471$8,974$6,961$5,361$2,724
23 years$13,742$10,728$8,286$6,340$4,812$2,354
24 years$13,029$10,052$7,663$5,782$4,325$2,036
25 years$12,375$9,433$7,098$5,281$3,892$1,762
26 years$11,772$8,866$6,583$4,828$3,506$1,526
27 years$11,215$8,344$6,113$4,419$3,161$1,322
28 years$10,698$7,862$5,682$4,049$2,852$1,146
29 years$10,218$7,417$5,288$3,713$2,575$994
30 years$9,771$7,005$4,926$3,408$2,327$862
31 years$9,353$6,622$4,592$3,130$2,104$748
32 years$8,962$6,265$4,284$2,876$1,903$650
33 years$8,596$5,933$4,000$2,645$1,722$564
34 years$8,252$5,624$3,738$2,434$1,559$490
35 years$7,928$5,334$3,494$2,240$1,412$425
36 years$7,624$5,063$3,269$2,063$1,280$370
37 years$7,336$4,808$3,060$1,901$1,160$321
38 years$7,064$4,570$2,865$1,752$1,051$279
39 years$6,806$4,345$2,684$1,616$953$242
40 years$6,562$4,134$2,516$1,490$865$211
41 years$6,331$3,935$2,359$1,375$785$183
42 years$6,111$3,748$2,213$1,269$712$159
43 years$5,902$3,571$2,077$1,171$646$138
44 years$5,703$3,404$1,949$1,082$586$120
45 years$5,513$3,246$1,830$999$532$105
46 years$5,333$3,096$1,719$923$483$91
47 years$5,160$2,955$1,615$852$439$79
48 years$4,995$2,821$1,518$788$399$69
49 years$4,837$2,694$1,427$728$362$60
50 years$4,686$2,573$1,341$673$329$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $4,800,000, adding $2,691 every year, while hoping to spend $40,747 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: 50/42/8 Blend
57$4,800,000$4,800,000$4,800,000$4,800,000
58$5,292,376$5,037,976$4,963,576$5,545,913
59$5,788,844$5,241,482$5,086,501$5,922,716
60$6,334,585$5,453,595$5,212,179$6,327,365
61$6,934,584$5,674,692$5,340,658$6,766,103
62$7,594,330$5,905,170$5,471,988$7,242,133
63$8,319,871$6,145,442$5,606,219$7,758,975
64$9,117,871$6,395,942$5,743,400$8,320,495
65$9,995,672$6,657,122$5,883,583$8,930,943
66$10,961,364$6,929,454$6,026,816$9,594,988
67$12,023,860$7,213,434$6,173,151$10,317,764
68$13,192,981$7,509,579$6,322,638$11,104,915
69$14,479,546$7,818,430$6,475,328$11,962,644
70$15,895,478$8,140,552$6,631,270$12,897,775
71$17,453,915$8,476,537$6,790,516$13,917,811
72$19,169,331$8,827,003$6,953,114$15,031,004
73$21,057,675$9,192,599$7,119,117$16,246,433
74$23,136,523$9,574,001$7,288,571$17,574,083
75$25,425,238$9,971,917$7,461,528$19,024,940
76$27,945,159$10,387,088$7,638,036$20,611,093
77$30,719,798$10,820,288$7,818,144$22,345,842
78$33,775,064$11,272,328$8,001,898$24,243,823
79$37,139,505$11,744,057$8,189,346$26,321,145
80$40,844,579$12,236,361$8,380,534$28,595,536
81$44,924,952$12,750,168$8,575,507$31,086,510
82$49,418,821$13,286,450$8,774,311$33,815,545
83$54,368,277$13,846,223$8,976,987$36,806,284
84$59,819,703$14,430,550$9,183,578$40,084,757
85$65,824,210$15,040,544$9,394,125$43,679,619
86$72,438,117$15,677,368$9,608,666$47,622,420
87$79,723,488$16,342,242$9,827,239$51,947,895
88$87,748,712$17,036,440$10,049,880$56,694,293
89$96,589,152$17,761,297$10,276,622$61,903,729
90$106,327,854$18,518,209$10,507,497$67,622,580
91$117,056,332$19,308,638$10,742,535$73,901,917
92$128,875,430$20,134,114$10,981,762$80,797,981
93$141,896,276$20,996,237$11,225,203$88,372,712
94$156,241,328$21,896,685$11,472,880$96,694,323
95$172,045,532$22,837,210$11,724,809$105,837,946
96$189,457,593$23,819,651$11,981,008$115,886,328
97$208,641,383$24,845,929$12,241,486$126,930,609
98$229,777,481$25,918,057$12,506,253$139,071,178
99$253,064,883$27,038,141$12,775,312$152,418,609
100$278,722,879$28,208,387$13,048,663$167,094,703