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%19.8%
1 years$412,895$409,217$405,629$402,127$398,707$383,039
2 years$204,404$200,597$196,907$193,330$189,860$174,267
3 years$134,915$131,092$127,412$123,869$120,455$105,427
4 years$100,178$96,367$92,723$89,240$85,910$71,562
5 years$79,341$75,553$71,957$68,545$65,307$51,676
6 years$65,455$61,694$58,152$54,816$51,675$38,769
7 years$55,539$51,811$48,325$45,067$42,026$29,840
8 years$48,106$44,411$40,983$37,806$34,865$23,388
9 years$42,328$38,668$35,299$32,202$29,361$18,575
10 years$37,708$34,084$30,774$27,759$25,017$14,902
11 years$33,931$30,343$27,093$24,158$21,515$12,048
12 years$30,785$27,234$24,044$21,190$18,645$9,799
13 years$28,126$24,612$21,482$18,708$16,259$8,009
14 years$25,848$22,371$19,302$16,607$14,252$6,570
15 years$23,876$20,437$17,427$14,810$12,549$5,407
16 years$22,152$18,750$15,800$13,261$11,091$4,461
17 years$20,632$17,268$14,377$11,915$9,834$3,688
18 years$19,283$15,957$13,125$10,738$8,744$3,054
19 years$18,077$14,789$12,015$9,702$7,793$2,532
20 years$16,993$13,742$11,027$8,787$6,961$2,102
21 years$16,014$12,800$10,143$7,975$6,230$1,747
22 years$15,125$11,949$9,348$7,251$5,584$1,452
23 years$14,314$11,175$8,631$6,604$5,012$1,209
24 years$13,572$10,471$7,982$6,023$4,505$1,006
25 years$12,891$9,826$7,393$5,501$4,054$838
26 years$12,263$9,235$6,857$5,029$3,652$698
27 years$11,682$8,691$6,367$4,604$3,292$582
28 years$11,144$8,190$5,919$4,218$2,971$485
29 years$10,644$7,726$5,508$3,868$2,683$405
30 years$10,178$7,296$5,131$3,550$2,424$337
31 years$9,743$6,898$4,783$3,260$2,191$281
32 years$9,336$6,526$4,463$2,996$1,982$235
33 years$8,954$6,181$4,167$2,755$1,794$196
34 years$8,596$5,858$3,893$2,535$1,624$163
35 years$8,259$5,556$3,640$2,334$1,471$136
36 years$7,941$5,274$3,405$2,149$1,333$114
37 years$7,641$5,009$3,187$1,980$1,208$95
38 years$7,358$4,760$2,985$1,825$1,095$79
39 years$7,090$4,526$2,796$1,683$993$66
40 years$6,836$4,306$2,621$1,552$901$55
41 years$6,595$4,099$2,458$1,432$817$46
42 years$6,366$3,904$2,305$1,322$742$38
43 years$6,148$3,720$2,163$1,220$673$32
44 years$5,941$3,546$2,031$1,127$611$27
45 years$5,743$3,381$1,907$1,040$555$22
46 years$5,555$3,225$1,791$961$504$19
47 years$5,375$3,078$1,682$888$457$16
48 years$5,203$2,938$1,581$820$415$13
49 years$5,039$2,806$1,486$758$377$11
50 years$4,882$2,680$1,397$701$343$9

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 $2,168 every year, while hoping to spend $20,255 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: 62/28/10 Blend
57$5,000,000$5,000,000$5,000,000$5,000,000
58$5,512,236$5,247,236$5,169,736$5,841,511
59$6,052,933$5,482,800$5,321,371$6,297,709
60$6,648,102$5,729,227$5,477,407$6,792,913
61$7,303,279$5,987,029$5,637,970$7,332,928
62$8,024,560$6,256,741$5,803,190$7,922,090
63$8,818,668$6,538,923$5,973,199$8,565,169
64$9,693,006$6,834,164$6,148,135$9,267,411
65$10,655,734$7,143,079$6,328,138$10,034,587
66$11,715,842$7,466,314$6,513,354$10,873,043
67$12,883,238$7,804,543$6,703,932$11,789,763
68$14,168,838$8,158,476$6,900,023$12,792,430
69$15,584,672$8,528,853$7,101,787$13,889,496
70$17,143,995$8,916,454$7,309,383$15,090,263
71$18,861,414$9,322,092$7,522,979$16,404,969
72$20,753,026$9,746,622$7,742,746$17,844,878
73$22,836,565$10,190,937$7,968,859$19,422,390
74$25,131,578$10,655,976$8,201,499$21,151,153
75$27,659,601$11,142,721$8,440,851$23,046,190
76$30,444,367$11,652,201$8,687,107$25,124,039
77$33,512,029$12,185,496$8,940,462$27,402,904
78$36,891,407$12,743,735$9,201,118$29,902,830
79$40,614,257$13,328,105$9,469,282$32,645,885
80$44,715,576$13,939,847$9,745,167$35,656,364
81$49,233,927$14,580,261$10,028,992$38,961,023
82$54,211,806$15,250,714$10,320,983$42,589,320
83$59,696,045$15,952,632$10,621,370$46,573,695
84$65,738,246$16,687,516$10,930,390$50,949,870
85$72,395,278$17,456,935$11,248,289$55,757,188
86$79,729,806$18,262,535$11,575,317$61,038,972
87$87,810,888$19,106,041$11,911,732$66,842,940
88$96,714,623$19,989,261$12,257,799$73,221,643
89$106,524,870$20,914,090$12,613,791$80,232,963
90$117,334,041$21,882,515$12,979,987$87,940,651
91$129,243,971$22,896,617$13,356,675$96,414,927
92$142,366,883$23,958,578$13,744,150$105,733,137
93$156,826,443$25,070,686$14,142,717$115,980,479
94$172,758,930$26,235,339$14,552,688$127,250,800
95$190,314,520$27,455,050$14,974,382$139,647,478
96$209,658,707$28,732,453$15,408,129$153,284,394
97$230,973,862$30,070,311$15,854,269$168,286,996
98$254,460,957$31,471,517$16,313,148$184,793,484
99$280,341,461$32,939,107$16,785,124$202,956,101
100$308,859,428$34,476,262$17,270,564$222,942,569