Can I retire at age 58 with 5,500,000?

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 $5,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$454,185$450,139$446,192$442,340$438,578$425,049
2 years$224,844$220,656$216,598$212,663$208,847$195,335
3 years$148,407$144,201$140,153$136,255$132,501$119,430
4 years$110,196$106,003$101,996$98,164$94,501$81,971
5 years$87,275$83,108$79,153$75,400$71,838$59,883
6 years$72,000$67,864$63,967$60,298$56,843$45,473
7 years$61,093$56,992$53,157$49,574$46,229$35,443
8 years$52,917$48,853$45,081$41,586$38,351$28,143
9 years$46,561$42,535$38,829$35,422$32,297$22,656
10 years$41,479$37,493$33,852$30,534$27,519$18,430
11 years$37,324$33,377$29,802$26,574$23,667$15,114
12 years$33,864$29,958$26,449$23,309$20,509$12,475
13 years$30,938$27,073$23,630$20,578$17,885$10,350
14 years$28,433$24,609$21,232$18,267$15,677$8,622
15 years$26,263$22,480$19,170$16,291$13,804$7,208
16 years$24,367$20,625$17,380$14,587$12,200$6,042
17 years$22,696$18,995$15,815$13,106$10,817$5,076
18 years$21,211$17,552$14,437$11,811$9,618$4,273
19 years$19,885$16,267$13,217$10,673$8,573$3,603
20 years$18,693$15,116$12,130$9,666$7,657$3,042
21 years$17,615$14,080$11,157$8,773$6,853$2,571
22 years$16,637$13,144$10,283$7,976$6,142$2,175
23 years$15,746$12,293$9,494$7,264$5,514$1,841
24 years$14,930$11,518$8,781$6,625$4,956$1,560
25 years$14,180$10,809$8,133$6,051$4,459$1,322
26 years$13,489$10,158$7,543$5,532$4,017$1,122
27 years$12,850$9,560$7,004$5,064$3,622$952
28 years$12,258$9,009$6,511$4,640$3,268$808
29 years$11,708$8,499$6,059$4,255$2,951$686
30 years$11,196$8,026$5,644$3,905$2,666$582
31 years$10,717$7,587$5,262$3,586$2,411$495
32 years$10,269$7,179$4,909$3,296$2,180$420
33 years$9,850$6,799$4,584$3,031$1,973$357
34 years$9,456$6,444$4,283$2,789$1,787$303
35 years$9,085$6,112$4,004$2,567$1,618$258
36 years$8,735$5,801$3,746$2,364$1,466$219
37 years$8,405$5,510$3,506$2,178$1,329$186
38 years$8,094$5,236$3,283$2,008$1,205$158
39 years$7,799$4,979$3,076$1,851$1,092$135
40 years$7,519$4,737$2,883$1,708$991$114
41 years$7,254$4,509$2,703$1,575$899$97
42 years$7,002$4,294$2,536$1,454$816$83
43 years$6,763$4,092$2,380$1,342$740$70
44 years$6,535$3,900$2,234$1,239$672$60
45 years$6,318$3,719$2,097$1,144$610$51
46 years$6,110$3,548$1,970$1,057$554$43
47 years$5,913$3,386$1,851$977$503$37
48 years$5,724$3,232$1,739$902$457$31
49 years$5,543$3,087$1,635$834$415$27
50 years$5,370$2,949$1,537$771$377$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $5,500,000, adding $5,628 every year, while hoping to spend $50,779 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: 77/6/17 Blend
57$5,500,000$5,500,000$5,500,000$5,500,000
58$6,066,805$5,775,305$5,690,055$6,510,633
59$6,631,591$6,004,267$5,826,644$7,033,501
60$7,252,283$6,242,745$5,966,106$7,599,844
61$7,934,530$6,491,154$6,108,485$8,219,561
62$8,684,555$6,749,924$6,253,822$8,897,967
63$9,509,215$7,019,506$6,402,161$9,640,917
64$10,416,064$7,300,370$6,553,542$10,454,857
65$11,413,424$7,593,010$6,708,007$11,346,887
66$12,510,465$7,897,939$6,865,597$12,324,829
67$13,717,289$8,215,695$7,026,351$13,397,295
68$15,045,028$8,546,840$7,190,309$14,573,774
69$16,505,947$8,891,961$7,357,511$15,864,717
70$18,113,559$9,251,672$7,527,993$17,281,635
71$19,882,753$9,626,615$7,701,792$18,837,210
72$21,829,936$10,017,461$7,878,944$20,545,413
73$23,973,185$10,424,912$8,059,483$22,421,632
74$26,332,417$10,849,700$8,243,444$24,482,821
75$28,929,582$11,292,594$8,430,857$26,747,659
76$31,788,861$11,754,393$8,621,753$29,236,721
77$34,936,904$12,235,937$8,816,161$31,972,677
78$38,403,073$12,738,103$9,014,107$34,980,504
79$42,219,723$13,261,807$9,215,616$38,287,718
80$46,422,507$13,808,007$9,420,711$41,924,636
81$51,050,711$14,377,708$9,629,413$45,924,661
82$56,147,624$14,971,956$9,841,739$50,324,596
83$61,760,949$15,591,849$10,057,705$55,164,990
84$67,943,251$16,238,535$10,277,323$60,490,521
85$74,752,452$16,913,213$10,500,603$66,350,416
86$82,252,380$17,617,138$10,727,551$72,798,916
87$90,513,369$18,351,624$10,958,170$79,895,785
88$99,612,923$19,118,043$11,192,459$87,706,876
89$109,636,448$19,917,834$11,430,413$96,304,748
90$120,678,057$20,752,499$11,672,023$105,769,355
91$132,841,458$21,623,612$11,917,276$116,188,794
92$146,240,936$22,532,818$12,166,153$127,660,138
93$161,002,424$23,481,838$12,418,632$140,290,355
94$177,264,698$24,472,476$12,674,684$154,197,309
95$195,180,686$25,506,615$12,934,274$169,510,878
96$214,918,906$26,586,230$13,197,362$186,374,175
97$236,665,063$27,713,384$13,463,903$204,944,899
98$260,623,798$28,890,238$13,733,842$225,396,824
99$287,020,619$30,119,053$14,007,119$247,921,435
100$316,104,031$31,402,196$14,283,666$272,729,735