Can I retire at age 58 with 5,900,000?

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 $5,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$487,216$482,877$478,642$474,510$470,474$460,787
2 years$241,196$236,704$232,351$228,130$224,035$214,319
3 years$159,200$154,689$150,346$146,165$142,137$132,696
4 years$118,210$113,713$109,414$105,304$101,373$92,280
5 years$93,623$89,152$84,909$80,883$77,063$68,342
6 years$77,236$72,799$68,619$64,683$60,977$52,639
7 years$65,536$61,137$57,023$53,179$49,591$41,637
8 years$56,765$52,406$48,360$44,611$41,140$33,568
9 years$49,947$45,628$41,653$37,999$34,646$27,451
10 years$44,496$40,219$36,314$32,755$29,520$22,695
11 years$40,038$35,805$31,970$28,507$25,388$18,924
12 years$36,327$32,136$28,373$25,004$22,001$15,888
13 years$33,188$29,042$25,349$22,075$19,185$13,414
14 years$30,501$26,398$22,776$19,596$16,818$11,376
15 years$28,174$24,115$20,564$17,476$14,808$9,684
16 years$26,139$22,125$18,644$15,648$13,087$8,270
17 years$24,346$20,377$16,965$14,059$11,604$7,081
18 years$22,754$18,829$15,487$12,670$10,318$6,076
19 years$21,331$17,450$14,178$11,449$9,196$5,224
20 years$20,052$16,216$13,012$10,369$8,214$4,498
21 years$18,897$15,104$11,968$9,411$7,351$3,878
22 years$17,847$14,099$11,031$8,556$6,589$3,348
23 years$16,891$13,187$10,185$7,792$5,915$2,893
24 years$16,015$12,355$9,419$7,107$5,316$2,502
25 years$15,211$11,595$8,724$6,491$4,784$2,165
26 years$14,470$10,897$8,091$5,935$4,309$1,875
27 years$13,785$10,256$7,513$5,432$3,885$1,625
28 years$13,150$9,664$6,985$4,977$3,506$1,409
29 years$12,560$9,117$6,500$4,564$3,165$1,222
30 years$12,010$8,610$6,054$4,189$2,860$1,060
31 years$11,497$8,139$5,644$3,847$2,586$920
32 years$11,016$7,701$5,266$3,535$2,339$798
33 years$10,566$7,293$4,917$3,251$2,117$693
34 years$10,143$6,912$4,594$2,991$1,917$602
35 years$9,745$6,556$4,295$2,754$1,736$523
36 years$9,371$6,223$4,018$2,536$1,573$454
37 years$9,017$5,910$3,761$2,337$1,426$395
38 years$8,682$5,617$3,522$2,154$1,292$343
39 years$8,366$5,341$3,300$1,986$1,172$298
40 years$8,066$5,082$3,093$1,832$1,063$259
41 years$7,782$4,837$2,900$1,690$964$225
42 years$7,512$4,607$2,720$1,560$875$196
43 years$7,255$4,389$2,553$1,440$794$170
44 years$7,010$4,184$2,396$1,329$721$148
45 years$6,777$3,990$2,250$1,228$654$129
46 years$6,555$3,806$2,113$1,134$594$112
47 years$6,343$3,632$1,985$1,048$540$97
48 years$6,140$3,467$1,866$968$490$84
49 years$5,946$3,311$1,754$895$445$73
50 years$5,760$3,163$1,649$827$404$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $5,900,000, adding $3,497 every year, while hoping to spend $20,664 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: 77/15/8 Blend
57$5,900,000$5,900,000$5,900,000$5,900,000
58$6,505,407$6,192,707$6,101,257$6,998,653
59$7,146,972$6,474,163$6,283,663$7,604,682
60$7,853,285$6,768,719$6,471,487$8,265,955
61$8,630,926$7,076,992$6,664,888$8,990,376
62$9,487,151$7,399,635$6,864,032$9,784,215
63$10,429,950$7,737,327$7,069,087$10,654,375
64$11,468,130$8,090,781$7,280,227$11,608,455
65$12,611,397$8,460,747$7,497,631$12,654,823
66$13,870,442$8,848,006$7,721,485$13,802,690
67$15,257,049$9,253,381$7,951,977$15,062,201
68$16,784,203$9,677,731$8,189,302$16,444,524
69$18,466,210$10,121,959$8,433,663$17,961,959
70$20,318,838$10,587,009$8,685,265$19,628,050
71$22,359,460$11,073,873$8,944,322$21,457,712
72$24,607,221$11,583,589$9,211,053$23,467,373
73$27,083,217$12,117,244$9,485,682$25,675,124
74$29,810,695$12,675,979$9,768,443$28,100,888
75$32,815,273$13,260,989$10,059,573$30,766,613
76$36,125,181$13,873,527$10,359,318$33,696,468
77$39,771,526$14,514,906$10,667,932$36,917,079
78$43,788,587$15,186,503$10,985,673$40,457,770
79$48,214,141$15,889,759$11,312,811$44,350,845
80$53,089,813$16,626,187$11,649,620$48,631,886
81$58,461,475$17,397,371$11,996,383$53,340,090
82$64,379,676$18,204,973$12,353,393$58,518,636
83$70,900,121$19,050,735$12,720,950$64,215,089
84$78,084,193$19,936,481$13,099,361$70,481,850
85$85,999,537$20,864,124$13,488,946$77,376,645
86$94,720,695$21,835,671$13,890,031$84,963,068
87$104,329,810$22,853,224$14,302,951$93,311,181
88$114,917,405$23,918,986$14,728,055$102,498,170
89$126,583,233$25,035,269$15,165,696$112,609,073
90$139,437,218$26,204,493$15,616,243$123,737,578
91$153,600,499$27,429,197$16,080,072$135,986,905
92$169,206,566$28,712,044$16,557,570$149,470,779
93$186,402,524$30,055,823$17,049,138$164,314,494
94$205,350,483$31,463,459$17,555,184$180,656,102
95$226,229,082$32,938,019$18,076,133$198,647,705
96$249,235,183$34,482,717$18,612,419$218,456,887
97$274,585,725$36,100,923$19,164,488$240,268,299
98$302,519,771$37,796,170$19,732,801$264,285,390
99$333,300,769$39,572,164$20,317,830$290,732,326
100$367,219,034$41,432,786$20,920,064$319,856,104