Can I retire at age 58 with 6,000,000?

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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$495,474$491,061$486,755$482,552$478,448$460,375
2 years$245,284$240,716$236,289$231,996$227,833$209,834
3 years$161,899$157,311$152,895$148,642$144,546$127,188
4 years$120,214$115,640$111,268$107,088$103,092$86,507
5 years$95,210$90,663$86,349$82,254$78,369$62,600
6 years$78,545$74,033$69,782$65,779$62,010$47,068
7 years$66,647$62,173$57,990$54,081$50,431$36,311
8 years$57,728$53,294$49,180$45,367$41,837$28,527
9 years$50,794$46,402$42,359$38,643$35,233$22,713
10 years$45,250$40,901$36,929$33,310$30,020$18,268
11 years$40,717$36,412$32,512$28,990$25,819$14,808
12 years$36,942$32,681$28,853$25,428$22,374$12,076
13 years$33,751$29,534$25,779$22,449$19,510$9,897
14 years$31,018$26,846$23,162$19,928$17,103$8,142
15 years$28,651$24,524$20,912$17,772$15,059$6,720
16 years$26,582$22,500$18,960$15,913$13,309$5,560
17 years$24,759$20,722$17,253$14,298$11,801$4,610
18 years$23,140$19,148$15,750$12,885$10,492$3,829
19 years$21,693$17,746$14,418$11,643$9,352$3,185
20 years$20,392$16,491$13,232$10,545$8,354$2,652
21 years$19,217$15,360$12,171$9,570$7,475$2,210
22 years$18,150$14,338$11,218$8,701$6,701$1,844
23 years$17,177$13,410$10,357$7,925$6,015$1,539
24 years$16,287$12,565$9,579$7,228$5,406$1,285
25 years$15,469$11,791$8,872$6,601$4,865$1,074
26 years$14,715$11,082$8,228$6,035$4,382$898
27 years$14,018$10,429$7,641$5,524$3,951$751
28 years$13,373$9,828$7,103$5,061$3,565$628
29 years$12,773$9,271$6,610$4,641$3,219$525
30 years$12,213$8,756$6,157$4,260$2,909$439
31 years$11,691$8,277$5,740$3,912$2,630$368
32 years$11,203$7,832$5,355$3,595$2,379$308
33 years$10,745$7,417$5,000$3,306$2,153$258
34 years$10,315$7,029$4,672$3,042$1,949$216
35 years$9,911$6,667$4,368$2,800$1,765$181
36 years$9,529$6,328$4,086$2,579$1,599$151
37 years$9,170$6,010$3,825$2,376$1,450$127
38 years$8,830$5,712$3,582$2,190$1,314$106
39 years$8,508$5,432$3,356$2,020$1,192$89
40 years$8,203$5,168$3,145$1,863$1,081$74
41 years$7,914$4,919$2,949$1,719$981$62
42 years$7,639$4,685$2,766$1,586$890$52
43 years$7,378$4,464$2,596$1,464$808$44
44 years$7,129$4,255$2,437$1,352$733$37
45 years$6,892$4,057$2,288$1,248$666$31
46 years$6,666$3,871$2,149$1,153$604$26
47 years$6,450$3,694$2,019$1,065$549$21
48 years$6,244$3,526$1,897$985$498$18
49 years$6,047$3,367$1,783$910$453$15
50 years$5,858$3,217$1,677$841$411$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,000,000, adding $6,454 every year, while hoping to spend $51,853 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: 84/7/9 Blend
57$6,000,000$6,000,000$6,000,000$6,000,000
58$6,618,657$6,300,657$6,207,657$7,166,208
59$7,238,589$6,554,218$6,360,443$7,778,593
60$7,920,016$6,818,466$6,516,608$8,443,466
61$8,669,156$7,093,869$6,676,213$9,172,163
62$9,492,859$7,380,918$6,839,315$9,971,068
63$10,398,673$7,680,125$7,005,974$10,847,210
64$11,394,912$7,992,025$7,176,249$11,808,330
65$12,490,738$8,317,179$7,350,198$12,862,957
66$13,696,245$8,656,173$7,527,881$14,020,483
67$15,022,554$9,009,618$7,709,358$15,291,254
68$16,481,919$9,378,154$7,894,686$16,686,664
69$18,087,843$9,762,451$8,083,926$18,219,268
70$19,855,201$10,163,209$8,277,135$19,902,893
71$21,800,384$10,581,160$8,474,373$21,752,773
72$23,941,456$11,017,068$8,675,696$23,785,686
73$26,298,315$11,471,736$8,881,163$26,020,121
74$28,892,891$11,945,999$9,090,830$28,476,443
75$31,749,347$12,440,734$9,304,754$31,177,089
76$34,894,307$12,956,856$9,522,989$34,146,776
77$38,357,108$13,495,324$9,745,591$37,412,738
78$42,170,078$14,057,139$9,972,613$41,004,978
79$46,368,838$14,643,351$10,204,108$44,956,553
80$50,992,639$15,255,056$10,440,126$49,303,882
81$56,084,736$15,893,401$10,680,717$54,087,093
82$61,692,787$16,559,586$10,925,930$59,350,398
83$67,869,314$17,254,868$11,175,811$65,142,509
84$74,672,188$17,980,560$11,430,404$71,517,098
85$82,165,181$18,738,038$11,689,753$78,533,305
86$90,418,567$19,528,739$11,953,897$86,256,289
87$99,509,784$20,354,170$12,222,875$94,757,846
88$109,524,163$21,215,906$12,496,723$104,117,088
89$120,555,737$22,115,594$12,775,472$114,421,180
90$132,708,124$23,054,961$13,059,153$125,766,173
91$146,095,510$24,035,811$13,347,792$138,257,899
92$160,843,721$25,060,035$13,641,412$152,012,974
93$177,091,413$26,129,609$13,940,031$167,159,898
94$194,991,381$27,246,603$14,243,666$183,840,263
95$214,712,000$28,413,185$14,552,327$202,210,092
96$236,438,814$29,631,621$14,866,021$222,441,307
97$260,376,289$30,904,286$15,184,748$244,723,350
98$286,749,738$32,233,664$15,508,504$269,264,976
99$315,807,454$33,622,356$15,837,282$296,296,212
100$347,823,047$35,073,085$16,171,064$326,070,534