Can I retire at age 58 with 5,000,000?

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 $5,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$412,895$409,217$405,629$402,127$398,707$395,366
2 years$204,404$200,597$196,907$193,330$189,860$186,494
3 years$134,915$131,092$127,412$123,869$120,455$117,166
4 years$100,178$96,367$92,723$89,240$85,910$82,724
5 years$79,341$75,553$71,957$68,545$65,307$62,235
6 years$65,455$61,694$58,152$54,816$51,675$48,719
7 years$55,539$51,811$48,325$45,067$42,026$39,188
8 years$48,106$44,411$40,983$37,806$34,865$32,144
9 years$42,328$38,668$35,299$32,202$29,361$26,758
10 years$37,708$34,084$30,774$27,759$25,017$22,530
11 years$33,931$30,343$27,093$24,158$21,515$19,142
12 years$30,785$27,234$24,044$21,190$18,645$16,383
13 years$28,126$24,612$21,482$18,708$16,259$14,106
14 years$25,848$22,371$19,302$16,607$14,252$12,205
15 years$23,876$20,437$17,427$14,810$12,549$10,605
16 years$22,152$18,750$15,800$13,261$11,091$9,248
17 years$20,632$17,268$14,377$11,915$9,834$8,088
18 years$19,283$15,957$13,125$10,738$8,744$7,092
19 years$18,077$14,789$12,015$9,702$7,793$6,232
20 years$16,993$13,742$11,027$8,787$6,961$5,487
21 years$16,014$12,800$10,143$7,975$6,230$4,839
22 years$15,125$11,949$9,348$7,251$5,584$4,274
23 years$14,314$11,175$8,631$6,604$5,012$3,780
24 years$13,572$10,471$7,982$6,023$4,505$3,346
25 years$12,891$9,826$7,393$5,501$4,054$2,965
26 years$12,263$9,235$6,857$5,029$3,652$2,630
27 years$11,682$8,691$6,367$4,604$3,292$2,334
28 years$11,144$8,190$5,919$4,218$2,971$2,073
29 years$10,644$7,726$5,508$3,868$2,683$1,842
30 years$10,178$7,296$5,131$3,550$2,424$1,638
31 years$9,743$6,898$4,783$3,260$2,191$1,457
32 years$9,336$6,526$4,463$2,996$1,982$1,297
33 years$8,954$6,181$4,167$2,755$1,794$1,155
34 years$8,596$5,858$3,893$2,535$1,624$1,028
35 years$8,259$5,556$3,640$2,334$1,471$916
36 years$7,941$5,274$3,405$2,149$1,333$816
37 years$7,641$5,009$3,187$1,980$1,208$727
38 years$7,358$4,760$2,985$1,825$1,095$648
39 years$7,090$4,526$2,796$1,683$993$578
40 years$6,836$4,306$2,621$1,552$901$515
41 years$6,595$4,099$2,458$1,432$817$460
42 years$6,366$3,904$2,305$1,322$742$410
43 years$6,148$3,720$2,163$1,220$673$366
44 years$5,941$3,546$2,031$1,127$611$326
45 years$5,743$3,381$1,907$1,040$555$291
46 years$5,555$3,225$1,791$961$504$260
47 years$5,375$3,078$1,682$888$457$232
48 years$5,203$2,938$1,581$820$415$207
49 years$5,039$2,806$1,486$758$377$185
50 years$4,882$2,680$1,397$701$343$165

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $5,000,000, adding $5,112 every year, while hoping to spend $30,608 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: 64/27/9 Blend
57$5,000,000$5,000,000$5,000,000$5,000,000
58$5,515,273$5,250,273$5,172,773$5,857,562
59$6,045,264$5,474,970$5,313,494$6,311,169
60$6,628,289$5,709,651$5,457,904$6,802,349
61$7,269,723$5,954,773$5,606,093$7,338,036
62$7,975,493$6,210,815$5,758,155$7,922,553
63$8,752,125$6,478,276$5,914,185$8,560,655
64$9,606,813$6,757,683$6,074,281$9,257,571
65$10,547,480$7,049,582$6,238,542$10,019,056
66$11,582,860$7,354,548$6,407,070$10,851,441
67$12,722,574$7,673,183$6,579,969$11,761,691
68$13,977,224$8,006,117$6,757,346$12,757,474
69$15,358,493$8,354,008$6,939,308$13,847,224
70$16,879,252$8,717,548$7,125,968$15,040,226
71$18,553,685$9,097,457$7,317,438$16,346,699
72$20,397,423$9,494,494$7,513,833$17,777,892
73$22,427,686$9,909,450$7,715,273$19,346,186
74$24,663,452$10,343,156$7,921,877$21,065,213
75$27,125,633$10,796,479$8,133,769$22,949,977
76$29,837,272$11,270,331$8,351,074$25,017,000
77$32,823,759$11,765,663$8,573,921$27,284,473
78$36,113,076$12,283,473$8,802,440$29,772,423
79$39,736,054$12,824,808$9,036,766$32,502,906
80$43,726,667$13,390,759$9,277,034$35,500,204
81$48,122,356$13,982,475$9,523,383$38,791,062
82$52,964,376$14,601,156$9,775,956$42,404,929
83$58,298,188$15,248,058$10,034,896$46,374,238
84$64,173,889$15,924,499$10,300,351$50,734,709
85$70,646,685$16,631,858$10,572,472$55,525,680
86$77,777,407$17,371,581$10,851,410$60,790,480
87$85,633,094$18,145,179$11,137,324$66,576,833
88$94,287,616$18,954,239$11,430,370$72,937,301
89$103,822,377$19,800,421$11,730,712$79,929,784
90$114,327,084$20,685,466$12,038,515$87,618,056
91$125,900,587$21,611,194$12,353,946$96,072,369
92$138,651,819$22,579,515$12,677,176$105,370,107
93$152,700,823$23,592,430$13,008,379$115,596,516
94$168,179,880$24,652,032$13,347,733$126,845,502
95$185,234,764$25,760,518$13,695,418$139,220,514
96$204,026,113$26,920,186$14,051,618$152,835,517
97$224,730,948$28,133,446$14,416,518$167,816,059
98$247,544,342$29,402,823$14,790,309$184,300,455
99$272,681,264$30,730,960$15,173,183$202,441,085
100$300,378,604$32,120,629$15,565,337$222,405,827