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

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 $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%16.2%
1 years$396,380$392,849$389,404$386,042$382,759$373,052
2 years$196,227$192,573$189,031$185,597$182,266$172,549
3 years$129,519$125,849$122,316$118,914$115,637$106,215
4 years$96,171$92,512$89,014$85,671$82,473$73,418
5 years$76,168$72,531$69,079$65,803$62,695$54,031
6 years$62,836$59,227$55,826$52,623$49,608$41,345
7 years$53,318$49,738$46,392$43,265$40,345$32,483
8 years$46,182$42,635$39,344$36,294$33,470$26,005
9 years$40,635$37,121$33,887$30,914$28,187$21,113
10 years$36,200$32,721$29,543$26,648$24,016$17,326
11 years$32,574$29,129$26,009$23,192$20,655$14,337
12 years$29,554$26,145$23,083$20,342$17,899$11,944
13 years$27,001$23,627$20,623$17,959$15,608$10,003
14 years$24,814$21,477$18,530$15,942$13,682$8,414
15 years$22,921$19,619$16,730$14,218$12,047$7,103
16 years$21,266$18,000$15,168$12,730$10,647$6,014
17 years$19,807$16,578$13,802$11,438$9,440$5,105
18 years$18,512$15,318$12,600$10,308$8,394$4,342
19 years$17,354$14,197$11,534$9,314$7,482$3,700
20 years$16,314$13,193$10,586$8,436$6,683$3,157
21 years$15,373$12,288$9,737$7,656$5,980$2,697
22 years$14,520$11,471$8,974$6,961$5,361$2,307
23 years$13,742$10,728$8,286$6,340$4,812$1,975
24 years$13,029$10,052$7,663$5,782$4,325$1,692
25 years$12,375$9,433$7,098$5,281$3,892$1,450
26 years$11,772$8,866$6,583$4,828$3,506$1,244
27 years$11,215$8,344$6,113$4,419$3,161$1,067
28 years$10,698$7,862$5,682$4,049$2,852$916
29 years$10,218$7,417$5,288$3,713$2,575$787
30 years$9,771$7,005$4,926$3,408$2,327$676
31 years$9,353$6,622$4,592$3,130$2,104$581
32 years$8,962$6,265$4,284$2,876$1,903$499
33 years$8,596$5,933$4,000$2,645$1,722$429
34 years$8,252$5,624$3,738$2,434$1,559$369
35 years$7,928$5,334$3,494$2,240$1,412$317
36 years$7,624$5,063$3,269$2,063$1,280$273
37 years$7,336$4,808$3,060$1,901$1,160$235
38 years$7,064$4,570$2,865$1,752$1,051$202
39 years$6,806$4,345$2,684$1,616$953$174
40 years$6,562$4,134$2,516$1,490$865$149
41 years$6,331$3,935$2,359$1,375$785$128
42 years$6,111$3,748$2,213$1,269$712$111
43 years$5,902$3,571$2,077$1,171$646$95
44 years$5,703$3,404$1,949$1,082$586$82
45 years$5,513$3,246$1,830$999$532$70
46 years$5,333$3,096$1,719$923$483$61
47 years$5,160$2,955$1,615$852$439$52
48 years$4,995$2,821$1,518$788$399$45
49 years$4,837$2,694$1,427$728$362$39
50 years$4,686$2,573$1,341$673$329$33

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 $2,020 every year, while hoping to spend $27,157 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: 69/15/16 Blend
57$4,800,000$4,800,000$4,800,000$4,800,000
58$5,291,684$5,037,284$4,962,884$5,636,796
59$5,802,541$5,255,216$5,100,245$6,084,821
60$6,364,595$5,482,916$5,241,299$6,571,425
61$6,983,039$5,720,835$5,386,138$7,103,143
62$7,663,597$5,969,444$5,534,862$7,684,418
63$8,412,573$6,229,235$5,687,568$8,320,136
64$9,236,914$6,500,726$5,844,360$9,015,681
65$10,144,274$6,784,457$6,005,342$9,776,973
66$11,143,089$7,080,995$6,170,620$10,610,533
67$12,242,653$7,390,932$6,340,304$11,523,541
68$13,453,205$7,714,889$6,514,506$12,523,898
69$14,786,030$8,053,517$6,693,340$13,620,307
70$16,253,563$8,407,497$6,876,924$14,822,349
71$17,869,503$8,777,542$7,065,378$16,140,574
72$19,648,949$9,164,398$7,258,825$17,586,598
73$21,608,537$9,568,848$7,457,390$19,173,217
74$23,766,597$9,991,710$7,661,202$20,914,520
75$26,143,329$10,433,844$7,870,392$22,826,022
76$28,760,994$10,896,147$8,085,095$24,924,812
77$31,644,118$11,379,562$8,305,449$27,229,714
78$34,819,731$11,885,072$8,531,594$29,761,455
79$38,317,615$12,413,712$8,763,674$32,542,871
80$42,170,590$12,966,563$9,001,836$35,599,111
81$46,414,824$13,544,758$9,246,230$38,957,878
82$51,090,168$14,149,484$9,497,012$42,649,689
83$56,240,540$14,781,984$9,754,337$46,708,158
84$61,914,335$15,443,560$10,018,366$51,170,316
85$68,164,880$16,135,577$10,289,264$56,076,954
86$75,050,941$16,859,464$10,567,198$61,473,010
87$82,637,279$17,616,719$10,852,341$67,407,989
88$90,995,253$18,408,911$11,144,867$73,936,430
89$100,203,504$19,237,683$11,444,954$81,118,415
90$110,348,689$20,104,756$11,752,787$89,020,139
91$121,526,301$21,011,936$12,068,552$97,714,530
92$133,841,575$21,961,111$12,392,440$107,281,933
93$147,410,474$22,954,264$12,724,645$117,810,868
94$162,360,787$23,993,468$13,065,366$129,398,865
95$178,833,338$25,080,899$13,414,806$142,153,378
96$196,983,309$26,218,833$13,773,172$156,192,797
97$216,981,710$27,409,659$14,140,677$171,647,567
98$239,016,990$28,655,878$14,517,535$188,661,408
99$263,296,817$29,960,110$14,903,967$207,392,678
100$290,050,040$31,325,103$15,300,197$228,015,857