Can I retire at age 58 with 6,500,000?

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 $6,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$536,764$531,983$527,318$522,765$518,319$503,139
2 years$265,725$260,776$255,980$251,329$246,819$231,648
3 years$175,390$170,420$165,636$161,029$156,592$141,906
4 years$130,232$125,277$120,540$116,012$111,683$97,594
5 years$103,144$98,218$93,544$89,109$84,899$71,447
6 years$85,091$80,203$75,598$71,261$67,178$54,373
7 years$72,201$67,354$62,822$58,588$54,634$42,477
8 years$62,538$57,735$53,278$49,148$45,324$33,808
9 years$55,027$50,269$45,888$41,863$38,169$27,282
10 years$49,021$44,309$40,007$36,086$32,522$22,249
11 years$44,110$39,446$35,221$31,406$27,970$18,293
12 years$40,021$35,405$31,258$27,547$24,238$15,139
13 years$36,563$31,995$27,927$24,320$21,136$12,594
14 years$33,602$29,083$25,092$21,589$18,528$10,521
15 years$31,039$26,568$22,655$19,253$16,313$8,820
16 years$28,797$24,375$20,540$17,239$14,418$7,414
17 years$26,822$22,449$18,691$15,489$12,784$6,248
18 years$25,068$20,744$17,062$13,959$11,367$5,275
19 years$23,500$19,225$15,620$12,613$10,132$4,461
20 years$22,091$17,865$14,335$11,424$9,050$3,778
21 years$20,818$16,640$13,185$10,368$8,098$3,203
22 years$19,662$15,533$12,152$9,427$7,259$2,718
23 years$18,609$14,528$11,221$8,585$6,516$2,308
24 years$17,644$13,612$10,377$7,830$5,857$1,962
25 years$16,758$12,774$9,611$7,151$5,270$1,668
26 years$15,941$12,005$8,914$6,538$4,747$1,420
27 years$15,187$11,299$8,277$5,985$4,280$1,208
28 years$14,487$10,647$7,695$5,483$3,862$1,029
29 years$13,837$10,044$7,161$5,028$3,487$876
30 years$13,231$9,485$6,670$4,615$3,151$747
31 years$12,666$8,967$6,218$4,238$2,849$636
32 years$12,137$8,484$5,802$3,895$2,577$542
33 years$11,641$8,035$5,417$3,582$2,332$462
34 years$11,175$7,615$5,061$3,296$2,111$394
35 years$10,736$7,223$4,732$3,034$1,912$336
36 years$10,324$6,856$4,427$2,794$1,733$287
37 years$9,934$6,511$4,143$2,574$1,570$244
38 years$9,565$6,188$3,880$2,373$1,424$208
39 years$9,217$5,884$3,635$2,188$1,291$178
40 years$8,887$5,598$3,407$2,018$1,171$152
41 years$8,573$5,329$3,195$1,862$1,062$129
42 years$8,275$5,075$2,997$1,718$964$110
43 years$7,992$4,836$2,812$1,586$875$94
44 years$7,723$4,609$2,640$1,465$794$80
45 years$7,466$4,395$2,479$1,353$721$69
46 years$7,221$4,193$2,328$1,249$655$58
47 years$6,988$4,002$2,187$1,154$594$50
48 years$6,764$3,820$2,055$1,067$540$43
49 years$6,551$3,648$1,932$986$490$36
50 years$6,346$3,485$1,816$911$445$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,500,000, adding $2,127 every year, while hoping to spend $24,663 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: 46/31/23 Blend
57$6,500,000$6,500,000$6,500,000$6,500,000
58$7,165,194$6,820,694$6,719,944$7,447,413
59$7,869,803$7,128,667$6,918,821$7,954,002
60$8,645,455$7,450,904$7,123,534$8,500,702
61$9,499,370$7,788,077$7,334,251$9,093,363
62$10,439,506$8,140,893$7,551,149$9,736,288
63$11,474,629$8,510,090$7,774,405$10,434,204
64$12,614,398$8,896,441$8,004,205$11,192,303
65$13,869,458$9,300,759$8,240,737$12,016,291
66$15,251,539$9,723,892$8,484,198$12,912,435
67$16,773,565$10,166,732$8,734,788$13,887,626
68$18,449,779$10,630,211$8,992,713$14,949,435
69$20,295,873$11,115,309$9,258,186$16,106,187
70$22,329,142$11,623,049$9,531,425$17,367,032
71$24,568,642$12,154,505$9,812,655$18,742,035
72$27,035,371$12,710,804$10,102,107$20,242,260
73$29,752,470$13,293,124$10,400,018$21,879,878
74$32,745,436$13,902,702$10,706,634$23,668,274
75$36,042,369$14,540,833$11,022,205$25,622,174
76$39,674,232$15,208,875$11,346,989$27,757,776
77$43,675,144$15,908,250$11,681,254$30,092,902
78$48,082,704$16,640,450$12,025,271$32,647,162
79$52,938,346$17,407,038$12,379,324$35,442,135
80$58,287,726$18,209,651$12,743,700$38,501,566
81$64,181,157$19,050,007$13,118,697$41,851,589
82$70,674,083$19,929,906$13,504,621$45,520,967
83$77,827,601$20,851,232$13,901,787$49,541,360
84$85,709,037$21,815,963$14,310,518$53,947,618
85$94,392,585$22,826,172$14,731,146$58,778,102
86$103,960,003$23,884,029$15,164,014$64,075,047
87$114,501,389$24,991,811$15,609,474$69,884,947
88$126,116,025$26,151,905$16,067,887$76,258,994
89$138,913,323$27,366,812$16,539,624$83,253,552
90$153,013,850$28,639,153$17,025,069$90,930,682
91$168,550,468$29,971,677$17,524,614$99,358,724
92$185,669,591$31,367,264$18,038,664$108,612,929
93$204,532,564$32,828,935$18,567,634$118,776,167
94$225,317,188$34,359,856$19,111,953$129,939,702
95$248,219,396$35,963,344$19,672,058$142,204,038
96$273,455,105$37,642,878$20,248,402$155,679,867
97$301,262,252$39,402,105$20,841,450$170,489,102
98$331,903,042$41,244,848$21,451,679$186,766,015
99$365,666,422$43,175,115$22,079,580$204,658,499
100$402,870,808$45,197,107$22,725,657$224,329,454