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

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 $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%12.4%
1 years$412,895$409,217$405,629$402,127$398,707$394,707
2 years$204,404$200,597$196,907$193,330$189,860$185,832
3 years$134,915$131,092$127,412$123,869$120,455$116,523
4 years$100,178$96,367$92,723$89,240$85,910$82,104
5 years$79,341$75,553$71,957$68,545$65,307$61,639
6 years$65,455$61,694$58,152$54,816$51,675$48,149
7 years$55,539$51,811$48,325$45,067$42,026$38,644
8 years$48,106$44,411$40,983$37,806$34,865$31,626
9 years$42,328$38,668$35,299$32,202$29,361$26,264
10 years$37,708$34,084$30,774$27,759$25,017$22,061
11 years$33,931$30,343$27,093$24,158$21,515$18,697
12 years$30,785$27,234$24,044$21,190$18,645$15,962
13 years$28,126$24,612$21,482$18,708$16,259$13,708
14 years$25,848$22,371$19,302$16,607$14,252$11,830
15 years$23,876$20,437$17,427$14,810$12,549$10,252
16 years$22,152$18,750$15,800$13,261$11,091$8,915
17 years$20,632$17,268$14,377$11,915$9,834$7,775
18 years$19,283$15,957$13,125$10,738$8,744$6,798
19 years$18,077$14,789$12,015$9,702$7,793$5,957
20 years$16,993$13,742$11,027$8,787$6,961$5,229
21 years$16,014$12,800$10,143$7,975$6,230$4,598
22 years$15,125$11,949$9,348$7,251$5,584$4,049
23 years$14,314$11,175$8,631$6,604$5,012$3,570
24 years$13,572$10,471$7,982$6,023$4,505$3,151
25 years$12,891$9,826$7,393$5,501$4,054$2,783
26 years$12,263$9,235$6,857$5,029$3,652$2,461
27 years$11,682$8,691$6,367$4,604$3,292$2,177
28 years$11,144$8,190$5,919$4,218$2,971$1,928
29 years$10,644$7,726$5,508$3,868$2,683$1,708
30 years$10,178$7,296$5,131$3,550$2,424$1,513
31 years$9,743$6,898$4,783$3,260$2,191$1,342
32 years$9,336$6,526$4,463$2,996$1,982$1,190
33 years$8,954$6,181$4,167$2,755$1,794$1,056
34 years$8,596$5,858$3,893$2,535$1,624$937
35 years$8,259$5,556$3,640$2,334$1,471$832
36 years$7,941$5,274$3,405$2,149$1,333$739
37 years$7,641$5,009$3,187$1,980$1,208$656
38 years$7,358$4,760$2,985$1,825$1,095$583
39 years$7,090$4,526$2,796$1,683$993$518
40 years$6,836$4,306$2,621$1,552$901$460
41 years$6,595$4,099$2,458$1,432$817$409
42 years$6,366$3,904$2,305$1,322$742$364
43 years$6,148$3,720$2,163$1,220$673$323
44 years$5,941$3,546$2,031$1,127$611$287
45 years$5,743$3,381$1,907$1,040$555$256
46 years$5,555$3,225$1,791$961$504$227
47 years$5,375$3,078$1,682$888$457$202
48 years$5,203$2,938$1,581$820$415$180
49 years$5,039$2,806$1,486$758$377$160
50 years$4,882$2,680$1,397$701$343$142

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 $2,921 every year, while hoping to spend $23,147 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: 59/27/14 Blend
57$5,000,000$5,000,000$5,000,000$5,000,000
58$5,513,013$5,248,013$5,170,513$5,818,732
59$6,050,712$5,480,537$5,319,097$6,257,848
60$6,642,481$5,723,680$5,471,883$6,733,637
61$7,293,810$5,977,936$5,628,987$7,251,924
62$8,010,748$6,243,825$5,790,528$7,816,809
63$8,799,964$6,521,891$5,956,629$8,432,798
64$9,668,801$6,812,705$6,127,417$9,104,845
65$10,625,353$7,116,862$6,303,020$9,838,402
66$11,678,539$7,434,988$6,483,572$10,639,462
67$12,838,187$7,767,739$6,669,208$11,514,622
68$14,115,124$8,115,800$6,860,068$12,471,135
69$15,521,283$8,479,891$7,056,297$13,516,986
70$17,069,812$8,860,765$7,258,042$14,660,956
71$18,775,201$9,259,209$7,465,454$15,912,713
72$20,653,413$9,676,053$7,678,688$17,282,892
73$22,722,042$10,112,160$7,897,905$18,783,202
74$25,000,473$10,568,439$8,123,268$20,426,525
75$27,510,070$11,045,841$8,354,946$22,227,047
76$30,274,370$11,545,360$8,593,110$24,200,379
77$33,319,316$12,068,042$8,837,938$26,363,707
78$36,673,489$12,614,980$9,089,613$28,735,953
79$40,368,390$13,187,319$9,348,320$31,337,949
80$44,438,728$13,786,260$9,614,251$34,192,630
81$48,922,753$14,413,061$9,887,603$37,325,250
82$53,862,614$15,069,041$10,168,577$40,763,616
83$59,304,757$15,755,580$10,457,381$44,538,347
84$65,300,365$16,474,127$10,754,227$48,683,164
85$71,905,842$17,226,198$11,059,332$53,235,199
86$79,183,339$18,013,383$11,372,921$58,235,345
87$87,201,348$18,837,348$11,695,223$63,728,640
88$96,035,346$19,699,838$12,026,473$69,764,685
89$105,768,504$20,602,684$12,366,913$76,398,110
90$116,492,478$21,547,801$12,716,791$83,689,086
91$128,308,268$22,537,201$13,076,361$91,703,889
92$141,327,175$23,572,988$13,445,883$100,515,518
93$155,671,852$24,657,369$13,825,625$110,204,383
94$171,477,460$25,792,659$14,215,862$120,859,058
95$188,892,942$26,981,280$14,616,875$132,577,111
96$208,082,434$28,225,775$15,028,952$145,466,022
97$229,226,810$29,528,806$15,452,390$159,644,188
98$252,525,392$30,893,164$15,887,492$175,242,039
99$278,197,828$32,321,776$16,334,569$192,403,260
100$306,486,171$33,817,707$16,793,942$211,286,143