Can I retire at age 58 with 5,600,000?

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 $5,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$462,443$458,324$454,305$450,382$446,552$429,343
2 years$228,932$224,668$220,536$216,530$212,644$195,511
3 years$151,105$146,823$142,702$138,733$134,910$118,393
4 years$112,200$107,931$103,850$99,949$96,219$80,444
5 years$88,862$84,619$80,592$76,771$73,144$58,151
6 years$73,309$69,098$65,130$61,394$57,876$43,675
7 years$62,204$58,028$54,124$50,475$47,069$33,655
8 years$53,879$49,741$45,901$42,343$39,048$26,409
9 years$47,408$43,308$39,535$36,066$32,884$21,001
10 years$42,233$38,174$34,467$31,090$28,019$16,869
11 years$38,003$33,984$30,344$27,057$24,097$13,656
12 years$34,480$30,502$26,930$23,733$20,882$11,122
13 years$31,501$27,565$24,060$20,953$18,210$9,103
14 years$28,950$25,056$21,618$18,599$15,963$7,478
15 years$26,741$22,889$19,518$16,587$14,055$6,163
16 years$24,810$21,000$17,696$14,852$12,422$5,092
17 years$23,108$19,341$16,103$13,345$11,014$4,216
18 years$21,597$17,872$14,700$12,026$9,793$3,496
19 years$20,247$16,563$13,457$10,867$8,729$2,903
20 years$19,033$15,391$12,350$9,842$7,797$2,414
21 years$17,936$14,336$11,360$8,932$6,977$2,009
22 years$16,940$13,383$10,470$8,121$6,254$1,673
23 years$16,032$12,516$9,667$7,396$5,614$1,394
24 years$15,201$11,727$8,940$6,746$5,046$1,163
25 years$14,438$11,005$8,280$6,161$4,541$970
26 years$13,734$10,343$7,680$5,633$4,090$809
27 years$13,084$9,734$7,131$5,156$3,687$676
28 years$12,481$9,172$6,629$4,724$3,327$564
29 years$11,921$8,653$6,169$4,332$3,004$471
30 years$11,399$8,172$5,746$3,976$2,715$394
31 years$10,912$7,725$5,357$3,651$2,454$329
32 years$10,456$7,310$4,998$3,356$2,220$275
33 years$10,029$6,922$4,667$3,086$2,009$230
34 years$9,627$6,561$4,361$2,839$1,819$192
35 years$9,250$6,223$4,077$2,614$1,648$160
36 years$8,894$5,906$3,814$2,407$1,493$134
37 years$8,558$5,610$3,570$2,218$1,353$112
38 years$8,241$5,331$3,343$2,044$1,227$94
39 years$7,941$5,069$3,132$1,885$1,112$78
40 years$7,656$4,823$2,936$1,739$1,009$65
41 years$7,386$4,591$2,753$1,604$915$55
42 years$7,130$4,372$2,582$1,480$831$46
43 years$6,886$4,166$2,423$1,367$754$38
44 years$6,654$3,971$2,274$1,262$684$32
45 years$6,432$3,787$2,135$1,165$621$27
46 years$6,221$3,613$2,006$1,076$564$22
47 years$6,020$3,447$1,884$994$512$19
48 years$5,828$3,291$1,771$919$465$16
49 years$5,644$3,143$1,664$849$422$13
50 years$5,468$3,002$1,565$785$384$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $5,600,000, adding $5,269 every year, while hoping to spend $42,731 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: 78/6/16 Blend
57$5,600,000$5,600,000$5,600,000$5,600,000
58$6,176,635$5,879,835$5,793,035$6,636,724
59$6,761,186$6,122,481$5,941,636$7,183,498
60$7,403,930$6,375,585$6,093,783$7,777,190
61$8,110,756$6,639,614$6,249,550$8,427,254
62$8,888,154$6,915,057$6,409,011$9,139,314
63$9,743,275$7,202,424$6,572,243$9,919,558
64$10,683,997$7,502,251$6,739,321$10,774,807
65$11,719,001$7,815,097$6,910,324$11,712,569
66$12,857,850$8,141,547$7,085,331$12,741,116
67$14,111,082$8,482,214$7,264,421$13,869,556
68$15,490,308$8,837,739$7,447,675$15,107,925
69$17,008,322$9,208,791$7,635,174$16,467,274
70$18,679,220$9,596,071$7,827,002$17,959,779
71$20,518,536$10,000,314$8,023,242$19,598,851
72$22,543,384$10,422,286$8,223,978$21,399,265
73$24,772,623$10,862,792$8,429,295$23,377,295
74$27,227,034$11,322,672$8,639,280$25,550,870
75$29,929,514$11,802,806$8,854,018$27,939,743
76$32,905,294$12,304,113$9,073,598$30,565,674
77$36,182,178$12,827,559$9,298,107$33,452,636
78$39,790,801$13,374,150$9,527,635$36,627,041
79$43,764,922$13,944,943$9,762,270$40,117,988
80$48,141,741$14,541,041$10,002,102$43,957,537
81$52,962,247$15,163,601$10,247,222$48,181,010
82$58,271,612$15,813,834$10,497,719$52,827,325
83$64,119,610$16,493,005$10,753,686$57,939,360
84$70,561,089$17,202,440$11,015,213$63,564,360
85$77,656,488$17,943,528$11,282,391$69,754,380
86$85,472,411$18,717,722$11,555,312$76,566,774
87$94,082,249$19,526,543$11,834,068$84,064,740
88$103,566,878$20,371,583$12,118,748$92,317,908
89$114,015,418$21,254,509$12,409,445$101,403,006
90$125,526,078$22,177,067$12,706,249$111,404,573
91$138,207,080$23,141,085$13,009,250$122,415,764
92$152,177,680$24,148,477$13,318,538$134,539,221
93$167,569,296$25,201,244$13,634,201$147,888,048
94$184,526,746$26,301,487$13,956,328$162,586,871
95$203,209,615$27,451,401$14,285,006$178,773,016
96$223,793,762$28,653,287$14,620,321$196,597,805
97$246,472,981$29,909,553$14,962,357$216,227,979
98$271,460,827$31,222,722$15,311,197$237,847,276
99$298,992,632$32,595,436$15,666,923$261,658,157
100$329,327,729$34,030,461$16,029,614$287,883,723