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%18.3%
1 years$528,506$523,798$519,205$514,722$510,345$493,219
2 years$261,637$256,764$252,041$247,463$243,021$225,936
3 years$172,692$167,798$163,088$158,552$154,183$137,675
4 years$128,228$123,349$118,686$114,228$109,964$94,160
5 years$101,557$96,707$92,105$87,738$83,593$68,535
6 years$83,782$78,969$74,435$70,165$66,144$51,843
7 years$71,090$66,318$61,856$57,686$53,793$40,248
8 years$61,576$56,847$52,458$48,392$44,627$31,826
9 years$54,180$49,495$45,182$41,219$37,582$25,511
10 years$48,267$43,628$39,391$35,531$32,022$20,662
11 years$43,432$38,839$34,679$30,923$27,540$16,868
12 years$39,405$34,860$30,777$27,123$23,865$13,858
13 years$36,001$31,503$27,497$23,946$20,811$11,443
14 years$33,086$28,636$24,706$21,256$18,243$9,487
15 years$30,561$26,159$22,306$18,957$16,062$7,891
16 years$28,354$24,000$20,224$16,974$14,196$6,581
17 years$26,409$22,104$18,403$15,251$12,587$5,501
18 years$24,682$20,425$16,800$13,744$11,192$4,607
19 years$23,139$18,929$15,379$12,419$9,976$3,864
20 years$21,752$17,590$14,114$11,248$8,910$3,244
21 years$20,498$16,384$12,982$10,208$7,974$2,727
22 years$19,360$15,294$11,965$9,282$7,147$2,295
23 years$18,322$14,304$11,048$8,453$6,416$1,932
24 years$17,373$13,402$10,217$7,709$5,767$1,628
25 years$16,500$12,577$9,463$7,041$5,189$1,372
26 years$15,696$11,821$8,777$6,438$4,674$1,157
27 years$14,953$11,125$8,150$5,893$4,214$976
28 years$14,264$10,483$7,577$5,399$3,803$824
29 years$13,624$9,889$7,051$4,951$3,434$695
30 years$13,028$9,339$6,567$4,544$3,103$587
31 years$12,471$8,829$6,123$4,173$2,805$496
32 years$11,950$8,354$5,712$3,835$2,537$419
33 years$11,461$7,911$5,334$3,527$2,296$354
34 years$11,003$7,498$4,984$3,245$2,079$299
35 years$10,571$7,112$4,659$2,987$1,883$252
36 years$10,165$6,750$4,359$2,751$1,706$213
37 years$9,781$6,411$4,080$2,535$1,546$180
38 years$9,418$6,093$3,820$2,336$1,402$152
39 years$9,075$5,794$3,579$2,154$1,271$129
40 years$8,750$5,512$3,355$1,987$1,153$109
41 years$8,441$5,247$3,146$1,833$1,046$92
42 years$8,148$4,997$2,951$1,692$949$78
43 years$7,869$4,761$2,769$1,562$861$66
44 years$7,604$4,538$2,599$1,442$782$56
45 years$7,351$4,328$2,441$1,332$710$47
46 years$7,110$4,129$2,292$1,230$645$40
47 years$6,880$3,940$2,153$1,137$585$34
48 years$6,660$3,761$2,024$1,050$532$28
49 years$6,450$3,592$1,902$971$483$24
50 years$6,249$3,431$1,788$897$438$20

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 $2,309 every year, while hoping to spend $44,180 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: 66/28/6 Blend
57$6,400,000$6,400,000$6,400,000$6,400,000
58$7,055,182$6,715,982$6,616,782$7,514,102
59$7,727,803$6,998,058$6,791,437$8,101,096
60$8,467,551$7,292,475$6,970,462$8,736,830
61$9,281,226$7,599,791$7,153,957$9,430,402
62$10,176,320$7,920,590$7,342,024$10,187,440
63$11,161,089$8,255,483$7,534,766$11,014,134
64$12,244,628$8,605,109$7,732,288$11,917,294
65$13,436,959$8,970,138$7,934,699$12,904,411
66$14,749,124$9,351,270$8,142,106$13,983,730
67$16,193,290$9,749,238$8,354,622$15,164,323
68$17,782,863$10,164,808$8,572,360$16,456,172
69$19,532,615$10,598,784$8,795,434$17,870,265
70$21,458,823$11,052,005$9,023,962$19,418,693
71$23,579,422$11,525,352$9,258,063$21,114,768
72$25,914,173$12,019,744$9,497,859$22,973,140
73$28,484,852$12,536,146$9,743,471$25,009,939
74$31,315,455$13,075,565$9,995,025$27,242,920
75$34,432,422$13,639,058$10,252,649$29,691,632
76$37,864,887$14,227,730$10,516,471$32,377,599
77$41,644,955$14,842,738$10,786,622$35,324,519
78$45,808,002$15,485,294$11,063,236$38,558,486
79$50,393,011$16,156,666$11,346,446$42,108,233
80$55,442,937$16,858,182$11,636,391$46,005,403
81$61,005,116$17,591,232$11,933,210$50,284,840
82$67,131,707$18,357,272$12,237,042$54,984,917
83$73,880,189$19,157,826$12,548,030$60,147,897
84$81,313,899$19,994,490$12,866,320$65,820,324
85$89,502,633$20,868,935$13,192,057$72,053,462
86$98,523,300$21,782,912$13,525,390$78,903,772
87$108,460,655$22,738,253$13,866,469$86,433,446
88$119,408,091$23,736,877$14,215,445$94,710,985
89$131,468,526$24,780,794$14,572,472$103,811,841
90$144,755,371$25,872,108$14,937,705$113,819,130
91$159,393,601$27,013,023$15,311,301$124,824,405
92$175,520,936$28,205,849$15,693,417$136,928,522
93$193,289,139$29,453,003$16,084,214$150,242,581
94$212,865,447$30,757,017$16,483,851$164,888,971
95$234,434,156$32,120,543$16,892,493$181,002,523
96$258,198,349$33,546,359$17,310,301$198,731,771
97$284,381,826$35,037,376$17,737,441$218,240,353
98$313,231,206$36,596,641$18,174,079$239,708,546
99$345,018,259$38,227,346$18,620,381$263,334,964
100$380,042,472$39,932,837$19,076,514$289,338,421