Can I retire at age 58 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$511,990$507,430$502,980$498,637$494,397$476,855
2 years$253,460$248,740$244,165$239,729$235,427$217,941
3 years$167,295$162,554$157,991$153,597$149,365$132,484
4 years$124,221$119,495$114,977$110,658$106,528$90,382
5 years$98,383$93,685$89,227$84,996$80,981$65,611
6 years$81,164$76,501$72,109$67,972$64,077$49,496
7 years$68,869$64,245$59,923$55,883$52,112$38,315
8 years$59,652$55,070$50,819$46,879$43,232$30,209
9 years$52,487$47,949$43,770$39,931$36,408$24,141
10 years$46,758$42,264$38,160$34,421$31,021$19,490
11 years$42,074$37,625$33,596$29,956$26,679$15,860
12 years$38,174$33,771$29,815$26,276$23,120$12,987
13 years$34,876$30,519$26,638$23,198$20,161$10,687
14 years$32,052$27,741$23,934$20,592$17,673$8,829
15 years$29,606$25,342$21,609$18,365$15,561$7,318
16 years$27,468$23,250$19,592$16,443$13,752$6,081
17 years$25,584$21,413$17,828$14,774$12,194$5,064
18 years$23,911$19,786$16,275$13,315$10,842$4,225
19 years$22,416$18,338$14,899$12,031$9,664$3,530
20 years$21,072$17,040$13,673$10,896$8,632$2,953
21 years$19,857$15,872$12,577$9,889$7,725$2,473
22 years$18,755$14,816$11,591$8,991$6,924$2,073
23 years$17,750$13,857$10,703$8,189$6,215$1,738
24 years$16,830$12,984$9,898$7,469$5,587$1,459
25 years$15,985$12,184$9,168$6,821$5,027$1,225
26 years$15,206$11,451$8,503$6,237$4,528$1,029
27 years$14,486$10,777$7,895$5,708$4,083$864
28 years$13,818$10,155$7,340$5,230$3,684$726
29 years$13,198$9,580$6,830$4,796$3,326$611
30 years$12,621$9,048$6,362$4,402$3,006$513
31 years$12,081$8,553$5,931$4,043$2,717$432
32 years$11,576$8,093$5,534$3,715$2,458$363
33 years$11,103$7,664$5,167$3,416$2,224$306
34 years$10,659$7,264$4,828$3,143$2,014$257
35 years$10,241$6,890$4,514$2,894$1,824$216
36 years$9,847$6,539$4,222$2,665$1,653$182
37 years$9,475$6,211$3,952$2,455$1,498$153
38 years$9,124$5,902$3,701$2,263$1,358$129
39 years$8,791$5,613$3,467$2,087$1,232$108
40 years$8,476$5,340$3,250$1,925$1,117$91
41 years$8,177$5,083$3,047$1,776$1,013$77
42 years$7,894$4,841$2,859$1,639$920$65
43 years$7,624$4,612$2,682$1,513$835$54
44 years$7,366$4,397$2,518$1,397$758$46
45 years$7,122$4,193$2,364$1,290$688$39
46 years$6,888$4,000$2,221$1,192$624$32
47 years$6,665$3,817$2,086$1,101$567$27
48 years$6,452$3,644$1,960$1,017$515$23
49 years$6,248$3,480$1,843$940$468$19
50 years$6,053$3,324$1,732$869$425$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,200,000, adding $2,285 every year, while hoping to spend $29,822 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: 74/10/16 Blend
57$6,200,000$6,200,000$6,200,000$6,200,000
58$6,834,757$6,506,157$6,410,057$7,315,868
59$7,500,172$6,793,228$6,593,064$7,921,799
60$8,232,459$7,093,367$6,781,201$8,581,646
61$9,038,409$7,407,181$6,974,611$9,303,872
62$9,925,503$7,735,308$7,173,436$10,094,668
63$10,901,983$8,078,417$7,377,825$10,960,852
64$11,976,932$8,437,207$7,587,929$11,909,929
65$13,160,359$8,812,410$7,803,904$12,950,162
66$14,463,292$9,204,794$8,025,911$14,090,653
67$15,897,882$9,615,163$8,254,114$15,341,422
68$17,477,519$10,044,359$8,488,680$16,713,505
69$19,216,958$10,493,265$8,729,782$18,219,055
70$21,132,457$10,962,804$8,977,599$19,871,457
71$23,241,931$11,453,944$9,232,312$21,685,451
72$25,565,121$11,967,700$9,494,107$23,677,273
73$28,123,780$12,505,135$9,763,177$25,864,807
74$30,941,880$13,067,361$10,039,717$28,267,750
75$34,045,834$13,655,544$10,323,930$30,907,797
76$37,464,750$14,270,906$10,616,023$33,808,847
77$41,230,702$14,914,728$10,916,207$36,997,226
78$45,379,034$15,588,351$11,224,701$40,501,934
79$49,948,695$16,293,179$11,541,727$44,354,915
80$54,982,602$17,030,685$11,867,515$48,591,361
81$60,528,050$17,802,412$12,202,301$53,250,042
82$66,637,157$18,609,976$12,546,324$58,373,668
83$73,367,354$19,455,071$12,899,831$64,009,289
84$80,781,926$20,339,471$13,263,078$70,208,745
85$88,950,614$21,265,037$13,636,323$77,029,145
86$97,950,270$22,233,717$14,019,833$84,533,408
87$107,865,581$23,247,553$14,413,881$92,790,855
88$118,789,873$24,308,685$14,818,748$101,877,862
89$130,825,985$25,419,356$15,234,722$111,878,576
90$144,087,246$26,581,915$15,662,096$122,885,710
91$158,698,542$27,798,826$16,101,172$135,001,413
92$174,797,493$29,072,669$16,552,262$148,338,236
93$192,535,756$30,406,148$17,015,681$163,020,186
94$212,080,453$31,802,099$17,491,756$179,183,900
95$233,615,750$33,263,492$17,980,820$196,979,929
96$257,344,594$34,793,441$18,483,215$216,574,156
97$283,490,631$36,395,208$18,999,292$238,149,361
98$312,300,316$38,072,214$19,529,409$261,906,939
99$344,045,239$39,828,043$20,073,935$288,068,805
100$379,024,688$41,666,452$20,633,246$316,879,479