Can I retire at age 58 with 6,600,000?

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 $6,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$545,022$540,167$535,431$530,807$526,293$521,884
2 years$269,813$264,788$259,918$255,196$250,616$246,172
3 years$178,088$173,042$168,184$163,506$159,001$154,660
4 years$132,235$127,204$122,395$117,797$113,401$109,196
5 years$104,731$99,729$94,983$90,480$86,206$82,150
6 years$86,400$81,437$76,761$72,357$68,211$64,309
7 years$73,312$68,390$63,789$59,489$55,474$51,728
8 years$63,500$58,623$54,098$49,904$46,021$42,431
9 years$55,873$51,042$46,594$42,507$38,757$35,321
10 years$49,775$44,991$40,622$36,641$33,022$29,739
11 years$44,789$40,053$35,763$31,889$28,400$25,267
12 years$40,637$35,949$31,739$27,971$24,611$21,625
13 years$37,126$32,488$28,356$24,694$21,461$18,619
14 years$34,119$29,530$25,478$21,921$18,813$16,111
15 years$31,516$26,977$23,004$19,549$16,564$13,999
16 years$29,240$24,750$20,856$17,504$14,640$12,207
17 years$27,235$22,794$18,978$15,728$12,981$10,676
18 years$25,454$21,063$17,325$14,174$11,542$9,361
19 years$23,862$19,521$15,860$12,807$10,287$8,226
20 years$22,431$18,140$14,555$11,599$9,189$7,243
21 years$21,139$16,896$13,388$10,527$8,223$6,388
22 years$19,965$15,772$12,339$9,572$7,371$5,642
23 years$18,895$14,751$11,393$8,717$6,616$4,989
24 years$17,915$13,821$10,537$7,950$5,947$4,417
25 years$17,016$12,970$9,759$7,261$5,351$3,914
26 years$16,187$12,190$9,051$6,639$4,820$3,471
27 years$15,420$11,472$8,405$6,077$4,346$3,081
28 years$14,710$10,810$7,813$5,568$3,921$2,737
29 years$14,050$10,198$7,271$5,106$3,541$2,432
30 years$13,435$9,631$6,773$4,686$3,199$2,163
31 years$12,861$9,105$6,314$4,303$2,893$1,924
32 years$12,323$8,615$5,891$3,955$2,617$1,712
33 years$11,820$8,158$5,500$3,637$2,368$1,524
34 years$11,347$7,732$5,139$3,346$2,144$1,357
35 years$10,902$7,334$4,805$3,080$1,942$1,209
36 years$10,482$6,961$4,495$2,837$1,759$1,077
37 years$10,087$6,611$4,207$2,614$1,595$960
38 years$9,713$6,283$3,940$2,409$1,446$856
39 years$9,359$5,975$3,691$2,221$1,311$763
40 years$9,023$5,684$3,460$2,049$1,189$680
41 years$8,705$5,411$3,244$1,890$1,079$607
42 years$8,403$5,153$3,043$1,745$979$541
43 years$8,115$4,910$2,856$1,611$888$483
44 years$7,842$4,680$2,680$1,487$806$431
45 years$7,581$4,463$2,517$1,373$732$384
46 years$7,332$4,258$2,364$1,269$665$343
47 years$7,095$4,063$2,221$1,172$604$306
48 years$6,868$3,879$2,087$1,083$548$273
49 years$6,651$3,704$1,962$1,001$498$244
50 years$6,444$3,538$1,844$925$452$217

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,600,000, adding $4,566 every year, while hoping to spend $54,501 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: 36/35/29 Blend
57$6,600,000$6,600,000$6,600,000$6,600,000
58$7,277,910$6,928,110$6,825,810$7,476,446
59$7,962,268$7,209,599$6,996,486$7,906,434
60$8,714,604$7,503,054$7,171,053$8,365,079
61$9,541,794$7,809,004$7,349,584$8,859,200
62$10,451,414$8,128,002$7,532,152$9,392,027
63$11,451,811$8,460,626$7,718,831$9,967,105
64$12,552,180$8,807,481$7,909,696$10,588,328
65$13,762,653$9,169,199$8,104,822$11,259,969
66$15,094,395$9,546,441$8,304,285$11,986,724
67$16,559,705$9,939,898$8,508,160$12,773,748
68$18,172,135$10,350,294$8,716,524$13,626,707
69$19,946,619$10,778,384$8,929,453$14,551,825
70$21,899,609$11,224,959$9,147,025$15,555,943
71$24,049,234$11,690,848$9,369,316$16,646,581
72$26,415,472$12,176,915$9,596,403$17,832,004
73$29,020,331$12,684,065$9,828,364$19,121,301
74$31,888,067$13,213,246$10,065,276$20,524,463
75$35,045,403$13,765,449$10,307,216$22,052,480
76$38,521,787$14,341,709$10,554,261$23,717,439
77$42,349,667$14,943,110$10,806,486$25,532,633
78$46,564,799$15,570,789$11,063,969$27,512,687
79$51,206,582$16,225,930$11,326,785$29,673,689
80$56,318,430$16,909,777$11,595,009$32,033,342
81$61,948,182$17,623,629$11,868,715$34,611,125
82$68,148,556$18,368,846$12,147,976$37,428,472
83$74,977,640$19,146,851$12,432,864$40,508,973
84$82,499,445$19,959,132$12,723,451$43,878,591
85$90,784,508$20,807,250$13,019,807$47,565,902
86$99,910,557$21,692,833$13,321,999$51,602,361
87$109,963,242$22,617,591$13,630,094$56,022,596
88$121,036,948$23,583,308$13,944,158$60,864,727
89$133,235,682$24,591,856$14,264,252$66,170,719
90$146,674,055$25,645,190$14,590,439$71,986,780
91$161,478,365$26,745,361$14,922,774$78,363,783
92$177,787,787$27,894,512$15,261,316$85,357,747
93$195,755,686$29,094,888$15,606,115$93,030,354
94$215,551,068$30,348,839$15,957,221$101,449,532
95$237,360,170$31,658,825$16,314,681$110,690,080
96$261,388,221$33,027,422$16,678,537$120,834,377
97$287,861,379$34,457,325$17,048,828$131,973,145
98$317,028,864$35,951,358$17,425,588$144,206,301
99$349,165,309$37,512,475$17,808,846$157,643,894
100$384,573,356$39,143,772$18,198,627$172,407,130