Can I retire at age 58 with 6,300,000?

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$520,248$515,614$511,093$506,680$502,371$488,247
2 years$257,549$252,752$248,103$243,596$239,224$225,102
3 years$169,994$165,176$160,539$156,074$151,774$138,096
4 years$126,225$121,422$116,831$112,443$108,246$95,118
5 years$99,970$95,196$90,666$86,367$82,287$69,744
6 years$82,473$77,735$73,272$69,068$65,111$53,165
7 years$69,980$65,282$60,889$56,785$52,953$41,604
8 years$60,614$55,958$51,639$47,635$43,929$33,171
9 years$53,333$48,722$44,476$40,575$36,995$26,817
10 years$47,512$42,946$38,776$34,976$31,521$21,911
11 years$42,753$38,232$34,137$30,439$27,110$18,050
12 years$38,789$34,315$30,296$26,700$23,493$14,967
13 years$35,438$31,011$27,068$23,572$20,486$12,476
14 years$32,569$28,188$24,320$20,924$17,958$10,444
15 years$30,084$25,750$21,958$18,661$15,812$8,774
16 years$27,911$23,625$19,908$16,709$13,974$7,392
17 years$25,997$21,758$18,116$15,013$12,391$6,242
18 years$24,297$20,106$16,537$13,529$11,017$5,282
19 years$22,777$18,634$15,139$12,225$9,820$4,477
20 years$21,412$17,315$13,894$11,072$8,771$3,800
21 years$20,178$16,128$12,780$10,049$7,849$3,229
22 years$19,057$15,055$11,778$9,136$7,036$2,747
23 years$18,036$14,081$10,875$8,321$6,316$2,338
24 years$17,101$13,193$10,058$7,589$5,677$1,992
25 years$16,242$12,381$9,316$6,931$5,108$1,698
26 years$15,451$11,636$8,640$6,337$4,601$1,448
27 years$14,719$10,951$8,023$5,801$4,148$1,236
28 years$14,041$10,319$7,458$5,315$3,743$1,055
29 years$13,411$9,735$6,940$4,874$3,380$901
30 years$12,824$9,193$6,465$4,473$3,054$769
31 years$12,276$8,691$6,027$4,108$2,761$657
32 years$11,763$8,223$5,623$3,775$2,498$562
33 years$11,282$7,788$5,250$3,472$2,260$480
34 years$10,831$7,381$4,906$3,194$2,047$410
35 years$10,406$7,001$4,586$2,940$1,854$351
36 years$10,006$6,645$4,291$2,708$1,679$300
37 years$9,628$6,311$4,016$2,495$1,522$256
38 years$9,271$5,998$3,761$2,300$1,380$219
39 years$8,933$5,703$3,523$2,121$1,251$187
40 years$8,613$5,426$3,302$1,956$1,135$160
41 years$8,309$5,165$3,097$1,805$1,030$137
42 years$8,021$4,919$2,905$1,665$934$117
43 years$7,746$4,687$2,726$1,537$848$100
44 years$7,485$4,468$2,559$1,419$770$86
45 years$7,236$4,260$2,402$1,311$699$73
46 years$6,999$4,064$2,256$1,211$634$63
47 years$6,773$3,878$2,120$1,119$576$54
48 years$6,556$3,702$1,992$1,034$523$46
49 years$6,349$3,536$1,872$955$475$39
50 years$6,151$3,377$1,760$883$432$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,300,000, adding $5,049 every year, while hoping to spend $59,214 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: 42/34/24 Blend
57$6,300,000$6,300,000$6,300,000$6,300,000
58$6,947,808$6,613,908$6,516,258$7,190,581
59$7,593,481$6,874,986$6,671,549$7,625,666
60$8,303,028$7,146,873$6,830,059$8,090,494
61$9,082,902$7,430,035$6,991,831$8,592,708
62$9,940,212$7,724,960$7,156,910$9,135,782
63$10,882,789$8,032,158$7,325,342$9,723,535
64$11,919,262$8,352,162$7,497,170$10,360,160
65$13,059,138$8,685,529$7,672,436$11,050,269
66$14,312,890$9,032,841$7,851,183$11,798,926
67$15,692,060$9,394,705$8,033,453$12,611,700
68$17,209,361$9,771,757$8,219,285$13,494,712
69$18,878,804$10,164,661$8,408,718$14,454,695
70$20,715,824$10,574,111$8,601,792$15,499,048
71$22,737,428$11,000,832$8,798,542$16,635,912
72$24,962,356$11,445,583$8,999,004$17,874,240
73$27,411,257$11,909,157$9,203,211$19,223,879
74$30,106,882$12,392,383$9,411,195$20,695,665
75$33,074,300$12,896,126$9,622,987$22,301,516
76$36,341,136$13,421,293$9,838,614$24,054,549
77$39,937,826$13,968,831$10,058,102$25,969,195
78$43,897,910$14,539,730$10,281,474$28,061,337
79$48,258,346$15,135,026$10,508,752$30,348,454
80$53,059,855$15,755,800$10,739,954$32,849,787
81$58,347,312$16,403,186$10,975,094$35,586,512
82$64,170,164$17,078,368$11,214,185$38,581,940
83$70,582,896$17,782,583$11,457,236$41,861,734
84$77,645,549$18,517,127$11,704,251$45,454,146
85$85,424,283$19,283,355$11,955,232$49,390,283
86$93,992,003$20,082,683$12,210,175$53,704,391
87$103,429,046$20,916,592$12,469,074$58,434,181
88$113,823,937$21,786,634$12,731,917$63,621,177
89$125,274,229$22,694,430$12,998,687$69,311,103
90$137,887,419$23,641,675$13,269,361$75,554,314
91$151,781,963$24,630,145$13,543,912$82,406,263
92$167,088,397$25,661,695$13,822,307$89,928,020
93$183,950,564$26,738,269$14,104,505$98,186,846
94$202,526,975$27,861,898$14,390,460$107,256,819
95$222,992,305$29,034,709$14,680,118$117,219,530
96$245,539,036$30,258,926$14,973,418$128,164,848
97$270,379,282$31,536,878$15,270,292$140,191,761
98$297,746,784$32,871,000$15,570,662$153,409,303
99$327,899,119$34,263,842$15,874,442$167,937,579
100$361,120,130$35,718,071$16,181,536$183,908,892