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

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$520,248$515,614$511,093$506,680$502,371$492,027
2 years$257,549$252,752$248,103$243,596$239,224$228,850
3 years$169,994$165,176$160,539$156,074$151,774$141,692
4 years$126,225$121,422$116,831$112,443$108,246$98,536
5 years$99,970$95,196$90,666$86,367$82,287$72,975
6 years$82,473$77,735$73,272$69,068$65,111$56,208
7 years$69,980$65,282$60,889$56,785$52,953$44,460
8 years$60,614$55,958$51,639$47,635$43,929$35,844
9 years$53,333$48,722$44,476$40,575$36,995$29,312
10 years$47,512$42,946$38,776$34,976$31,521$24,233
11 years$42,753$38,232$34,137$30,439$27,110$20,207
12 years$38,789$34,315$30,296$26,700$23,493$16,965
13 years$35,438$31,011$27,068$23,572$20,486$14,323
14 years$32,569$28,188$24,320$20,924$17,958$12,147
15 years$30,084$25,750$21,958$18,661$15,812$10,341
16 years$27,911$23,625$19,908$16,709$13,974$8,831
17 years$25,997$21,758$18,116$15,013$12,391$7,561
18 years$24,297$20,106$16,537$13,529$11,017$6,488
19 years$22,777$18,634$15,139$12,225$9,820$5,578
20 years$21,412$17,315$13,894$11,072$8,771$4,803
21 years$20,178$16,128$12,780$10,049$7,849$4,141
22 years$19,057$15,055$11,778$9,136$7,036$3,575
23 years$18,036$14,081$10,875$8,321$6,316$3,089
24 years$17,101$13,193$10,058$7,589$5,677$2,672
25 years$16,242$12,381$9,316$6,931$5,108$2,312
26 years$15,451$11,636$8,640$6,337$4,601$2,002
27 years$14,719$10,951$8,023$5,801$4,148$1,735
28 years$14,041$10,319$7,458$5,315$3,743$1,504
29 years$13,411$9,735$6,940$4,874$3,380$1,305
30 years$12,824$9,193$6,465$4,473$3,054$1,132
31 years$12,276$8,691$6,027$4,108$2,761$982
32 years$11,763$8,223$5,623$3,775$2,498$853
33 years$11,282$7,788$5,250$3,472$2,260$740
34 years$10,831$7,381$4,906$3,194$2,047$643
35 years$10,406$7,001$4,586$2,940$1,854$558
36 years$10,006$6,645$4,291$2,708$1,679$485
37 years$9,628$6,311$4,016$2,495$1,522$421
38 years$9,271$5,998$3,761$2,300$1,380$366
39 years$8,933$5,703$3,523$2,121$1,251$318
40 years$8,613$5,426$3,302$1,956$1,135$277
41 years$8,309$5,165$3,097$1,805$1,030$240
42 years$8,021$4,919$2,905$1,665$934$209
43 years$7,746$4,687$2,726$1,537$848$182
44 years$7,485$4,468$2,559$1,419$770$158
45 years$7,236$4,260$2,402$1,311$699$137
46 years$6,999$4,064$2,256$1,211$634$119
47 years$6,773$3,878$2,120$1,119$576$104
48 years$6,556$3,702$1,992$1,034$523$90
49 years$6,349$3,536$1,872$955$475$78
50 years$6,151$3,377$1,760$883$432$68

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 $3,485 every year, while hoping to spend $22,148 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: 74/12/14 Blend
57$6,300,000$6,300,000$6,300,000$6,300,000
58$6,946,195$6,612,295$6,514,645$7,439,133
59$7,631,141$6,912,732$6,709,320$8,066,017
60$8,385,210$7,227,148$6,909,775$8,749,592
61$9,215,428$7,556,205$7,116,179$9,497,970
62$10,129,539$7,900,596$7,328,708$10,317,580
63$11,136,074$8,261,048$7,547,542$11,215,496
64$12,244,435$8,638,321$7,772,866$12,199,508
65$13,464,983$9,033,213$8,004,872$13,278,193
66$14,809,132$9,446,562$8,243,756$14,460,993
67$16,289,462$9,879,242$8,489,721$15,758,306
68$17,919,835$10,332,172$8,742,974$17,181,582
69$19,715,524$10,806,314$9,003,729$18,743,429
70$21,693,361$11,302,678$9,272,208$20,457,731
71$23,871,893$11,822,318$9,548,637$22,339,779
72$26,271,559$12,366,345$9,833,249$24,406,414
73$28,914,880$12,935,917$10,126,284$26,676,182
74$31,826,673$13,532,253$10,427,990$29,169,510
75$35,034,288$14,156,627$10,738,622$31,908,899
76$38,567,860$14,810,376$11,058,440$34,919,130
77$42,460,598$15,494,902$11,387,715$38,227,499
78$46,749,099$16,211,672$11,726,723$41,864,075
79$51,473,688$16,962,225$12,075,750$45,861,979
80$56,678,806$17,748,175$12,435,088$50,257,695
81$62,413,421$18,571,213$12,805,041$55,091,415
82$68,731,499$19,433,112$13,185,919$60,407,412
83$75,692,506$20,335,728$13,578,041$66,254,462
84$83,361,973$21,281,010$13,981,737$72,686,296
85$91,812,114$22,270,999$14,397,345$79,762,110
86$101,122,507$23,307,835$14,825,213$87,547,117
87$111,380,844$24,393,761$15,265,699$96,113,164
88$122,683,763$25,531,128$15,719,173$105,539,406
89$135,137,756$26,722,402$16,186,014$115,913,049
90$148,860,173$27,970,166$16,666,612$127,330,174
91$163,980,335$29,277,129$17,161,368$139,896,638
92$180,640,751$30,646,130$17,670,696$153,729,071
93$198,998,464$32,080,147$18,195,021$168,955,975
94$219,226,533$33,582,300$18,734,779$185,718,933
95$241,515,667$35,155,860$19,290,422$204,173,941
96$266,076,026$36,804,258$19,862,412$224,492,878
97$293,139,203$38,531,088$20,451,225$246,865,128
98$322,960,411$40,340,121$21,057,351$271,499,356
99$355,820,895$42,235,309$21,681,293$298,625,482
100$392,030,581$44,220,794$22,323,572$328,496,842