Can I retire at age 58 with 6,400,000?

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 $6,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$528,506$523,798$519,205$514,722$510,345$502,304
2 years$261,637$256,764$252,041$247,463$243,021$234,941
3 years$172,692$167,798$163,088$158,552$154,183$146,314
4 years$128,228$123,349$118,686$114,228$109,964$102,369
5 years$101,557$96,707$92,105$87,738$83,593$76,292
6 years$83,782$78,969$74,435$70,165$66,144$59,147
7 years$71,090$66,318$61,856$57,686$53,793$47,101
8 years$61,576$56,847$52,458$48,392$44,627$38,238
9 years$54,180$49,495$45,182$41,219$37,582$31,494
10 years$48,267$43,628$39,391$35,531$32,022$26,230
11 years$43,432$38,839$34,679$30,923$27,540$22,038
12 years$39,405$34,860$30,777$27,123$23,865$18,647
13 years$36,001$31,503$27,497$23,946$20,811$15,868
14 years$33,086$28,636$24,706$21,256$18,243$13,567
15 years$30,561$26,159$22,306$18,957$16,062$11,645
16 years$28,354$24,000$20,224$16,974$14,196$10,029
17 years$26,409$22,104$18,403$15,251$12,587$8,661
18 years$24,682$20,425$16,800$13,744$11,192$7,497
19 years$23,139$18,929$15,379$12,419$9,976$6,503
20 years$21,752$17,590$14,114$11,248$8,910$5,650
21 years$20,498$16,384$12,982$10,208$7,974$4,916
22 years$19,360$15,294$11,965$9,282$7,147$4,283
23 years$18,322$14,304$11,048$8,453$6,416$3,736
24 years$17,373$13,402$10,217$7,709$5,767$3,261
25 years$16,500$12,577$9,463$7,041$5,189$2,850
26 years$15,696$11,821$8,777$6,438$4,674$2,492
27 years$14,953$11,125$8,150$5,893$4,214$2,180
28 years$14,264$10,483$7,577$5,399$3,803$1,908
29 years$13,624$9,889$7,051$4,951$3,434$1,671
30 years$13,028$9,339$6,567$4,544$3,103$1,464
31 years$12,471$8,829$6,123$4,173$2,805$1,284
32 years$11,950$8,354$5,712$3,835$2,537$1,125
33 years$11,461$7,911$5,334$3,527$2,296$987
34 years$11,003$7,498$4,984$3,245$2,079$866
35 years$10,571$7,112$4,659$2,987$1,883$760
36 years$10,165$6,750$4,359$2,751$1,706$667
37 years$9,781$6,411$4,080$2,535$1,546$585
38 years$9,418$6,093$3,820$2,336$1,402$514
39 years$9,075$5,794$3,579$2,154$1,271$451
40 years$8,750$5,512$3,355$1,987$1,153$396
41 years$8,441$5,247$3,146$1,833$1,046$348
42 years$8,148$4,997$2,951$1,692$949$305
43 years$7,869$4,761$2,769$1,562$861$268
44 years$7,604$4,538$2,599$1,442$782$236
45 years$7,351$4,328$2,441$1,332$710$207
46 years$7,110$4,129$2,292$1,230$645$182
47 years$6,880$3,940$2,153$1,137$585$160
48 years$6,660$3,761$2,024$1,050$532$140
49 years$6,450$3,592$1,902$971$483$123
50 years$6,249$3,431$1,788$897$438$108

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,400,000, adding $3,981 every year, while hoping to spend $20,242 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: 34/48/18 Blend
57$6,400,000$6,400,000$6,400,000$6,400,000
58$7,056,906$6,717,706$6,618,506$7,257,558
59$7,755,174$7,025,337$6,818,689$7,712,970
60$8,523,985$7,347,362$7,024,899$8,201,580
61$9,370,516$7,684,468$7,237,318$8,728,058
62$10,302,672$8,037,369$7,456,131$9,295,763
63$11,329,162$8,406,818$7,681,529$9,908,373
64$12,459,587$8,793,602$7,913,710$10,569,916
65$13,704,522$9,198,547$8,152,877$11,284,809
66$15,075,624$9,622,516$8,399,239$12,057,893
67$16,585,736$10,066,417$8,653,012$12,894,478
68$18,249,009$10,531,200$8,914,416$13,800,386
69$20,081,039$11,017,860$9,183,680$14,782,003
70$22,099,011$11,527,441$9,461,039$15,846,338
71$24,321,862$12,061,038$9,746,736$17,001,082
72$26,770,460$12,619,796$10,041,020$18,254,677
73$29,467,799$13,204,918$10,344,146$19,616,393
74$32,439,220$13,817,665$10,656,380$21,096,406
75$35,712,645$14,459,355$10,977,993$22,705,896
76$39,318,845$15,131,374$11,309,267$24,457,141
77$43,291,729$15,835,172$11,650,488$26,363,628
78$47,668,660$16,572,271$12,001,955$28,440,181
79$52,490,816$17,344,264$12,363,973$30,703,085
80$57,803,570$18,152,824$12,736,857$33,170,242
81$63,656,924$18,999,702$13,120,931$35,861,330
82$70,105,978$19,886,735$13,516,530$38,797,980
83$77,211,450$20,815,848$13,923,996$42,003,975
84$85,040,253$21,789,060$14,343,685$45,505,469
85$93,666,120$22,808,485$14,775,960$49,331,221
86$103,170,307$23,876,343$15,221,197$53,512,862
87$113,642,353$24,994,959$15,679,782$58,085,185
88$125,180,931$26,166,770$16,152,113$63,086,461
89$137,894,777$27,394,332$16,638,599$68,558,795
90$151,903,714$28,680,324$17,139,662$74,548,510
91$167,339,789$30,027,556$17,655,737$81,106,576
92$184,348,513$31,438,972$18,187,269$88,289,079
93$203,090,239$32,917,659$18,734,721$96,157,741
94$223,741,673$34,466,855$19,298,564$104,780,489
95$246,497,545$36,089,952$19,879,287$114,232,082
96$271,572,444$37,790,509$20,477,393$124,594,808
97$299,202,846$39,572,256$21,093,398$135,959,245
98$329,649,344$41,439,104$21,727,834$148,425,100
99$363,199,110$43,395,154$22,381,250$162,102,137
100$400,168,607$45,444,704$23,054,209$177,111,199