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%12.6%
1 years$462,443$458,324$454,305$450,382$446,552$441,705
2 years$228,932$224,668$220,536$216,530$212,644$207,763
3 years$151,105$146,823$142,702$138,733$134,910$130,148
4 years$112,200$107,931$103,850$99,949$96,219$91,611
5 years$88,862$84,619$80,592$76,771$73,144$68,705
6 years$73,309$69,098$65,130$61,394$57,876$53,611
7 years$62,204$58,028$54,124$50,475$47,069$42,979
8 years$53,879$49,741$45,901$42,343$39,048$35,134
9 years$47,408$43,308$39,535$36,066$32,884$29,143
10 years$42,233$38,174$34,467$31,090$28,019$24,450
11 years$38,003$33,984$30,344$27,057$24,097$20,696
12 years$34,480$30,502$26,930$23,733$20,882$17,646
13 years$31,501$27,565$24,060$20,953$18,210$15,135
14 years$28,950$25,056$21,618$18,599$15,963$13,044
15 years$26,741$22,889$19,518$16,587$14,055$11,288
16 years$24,810$21,000$17,696$14,852$12,422$9,803
17 years$23,108$19,341$16,103$13,345$11,014$8,537
18 years$21,597$17,872$14,700$12,026$9,793$7,454
19 years$20,247$16,563$13,457$10,867$8,729$6,522
20 years$19,033$15,391$12,350$9,842$7,797$5,717
21 years$17,936$14,336$11,360$8,932$6,977$5,020
22 years$16,940$13,383$10,470$8,121$6,254$4,414
23 years$16,032$12,516$9,667$7,396$5,614$3,885
24 years$15,201$11,727$8,940$6,746$5,046$3,424
25 years$14,438$11,005$8,280$6,161$4,541$3,020
26 years$13,734$10,343$7,680$5,633$4,090$2,666
27 years$13,084$9,734$7,131$5,156$3,687$2,355
28 years$12,481$9,172$6,629$4,724$3,327$2,081
29 years$11,921$8,653$6,169$4,332$3,004$1,841
30 years$11,399$8,172$5,746$3,976$2,715$1,629
31 years$10,912$7,725$5,357$3,651$2,454$1,442
32 years$10,456$7,310$4,998$3,356$2,220$1,277
33 years$10,029$6,922$4,667$3,086$2,009$1,131
34 years$9,627$6,561$4,361$2,839$1,819$1,002
35 years$9,250$6,223$4,077$2,614$1,648$888
36 years$8,894$5,906$3,814$2,407$1,493$787
37 years$8,558$5,610$3,570$2,218$1,353$698
38 years$8,241$5,331$3,343$2,044$1,227$619
39 years$7,941$5,069$3,132$1,885$1,112$549
40 years$7,656$4,823$2,936$1,739$1,009$487
41 years$7,386$4,591$2,753$1,604$915$432
42 years$7,130$4,372$2,582$1,480$831$384
43 years$6,886$4,166$2,423$1,367$754$340
44 years$6,654$3,971$2,274$1,262$684$302
45 years$6,432$3,787$2,135$1,165$621$268
46 years$6,221$3,613$2,006$1,076$564$238
47 years$6,020$3,447$1,884$994$512$211
48 years$5,828$3,291$1,771$919$465$188
49 years$5,644$3,143$1,664$849$422$167
50 years$5,468$3,002$1,565$785$384$148

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 $4,298 every year, while hoping to spend $59,771 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: 48/22/30 Blend
57$5,600,000$5,600,000$5,600,000$5,600,000
58$6,175,633$5,878,833$5,792,033$6,418,891
59$6,741,952$6,103,300$5,922,471$6,815,443
60$7,364,032$6,336,763$6,055,274$7,239,692
61$8,047,498$6,579,599$6,190,460$7,699,319
62$8,798,546$6,832,202$6,328,044$8,197,695
63$9,624,002$7,094,984$6,468,038$8,738,532
64$10,531,386$7,368,375$6,610,454$9,325,910
65$11,528,985$7,652,823$6,755,301$9,964,318
66$12,625,926$7,948,795$6,902,588$10,658,695
67$13,832,265$8,256,782$7,052,320$11,414,475
68$15,159,084$8,577,292$7,204,500$12,237,639
69$16,618,591$8,910,859$7,359,131$13,134,768
70$18,224,235$9,258,039$7,516,209$14,113,105
71$19,990,837$9,619,413$7,675,733$15,180,622
72$21,934,726$9,995,588$7,837,693$16,346,093
73$24,073,894$10,387,197$8,002,082$17,619,181
74$26,428,164$10,794,903$8,168,885$19,010,519
75$29,019,380$11,219,396$8,338,085$20,531,817
76$31,871,609$11,661,399$8,509,664$22,195,965
77$35,011,372$12,121,667$8,683,597$24,017,159
78$38,467,890$12,600,986$8,859,855$26,011,030
79$42,273,361$13,100,181$9,038,407$28,194,788
80$46,463,266$13,620,112$9,219,215$30,587,389
81$51,076,698$14,161,677$9,402,238$33,209,707
82$56,156,737$14,725,815$9,587,429$36,084,731
83$61,750,852$15,313,507$9,774,735$39,237,782
84$67,911,350$15,925,780$9,964,100$42,696,746
85$74,695,869$16,563,704$10,155,458$46,492,339
86$82,167,921$17,228,400$10,348,740$50,658,395
87$90,397,495$17,921,037$10,543,869$55,232,180
88$99,461,712$18,642,840$10,740,760$60,254,745
89$109,445,554$19,395,087$10,939,324$65,771,310
90$120,442,669$20,179,114$11,139,459$71,831,688
91$132,556,250$20,996,320$11,341,060$78,490,754
92$145,900,012$21,848,164$11,544,010$85,808,961
93$160,599,263$22,736,173$11,748,184$93,852,905
94$176,792,087$23,661,945$11,953,447$102,695,954
95$194,630,647$24,627,148$12,159,655$112,418,937
96$214,282,623$25,633,528$12,366,653$123,110,905
97$235,932,789$26,682,909$12,574,274$134,869,966
98$259,784,762$27,777,200$12,782,341$147,804,212
99$286,062,921$28,918,397$12,990,663$162,032,731
100$315,014,526$30,108,585$13,199,038$177,686,734