Can I retire at age 58 with 6,800,000?

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 $6,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$561,538$556,536$551,656$546,893$542,242$536,356
2 years$277,989$272,812$267,794$262,929$258,210$252,284
3 years$183,485$178,285$173,280$168,461$163,819$158,036
4 years$136,242$131,059$126,104$121,367$116,837$111,242
5 years$107,904$102,752$97,862$93,221$88,818$83,427
6 years$89,018$83,904$79,087$74,550$70,279$65,099
7 years$75,534$70,463$65,722$61,292$57,155$52,189
8 years$65,425$60,400$55,737$51,416$47,416$42,662
9 years$57,566$52,589$48,006$43,795$39,931$35,389
10 years$51,283$46,354$41,853$37,752$34,023$29,689
11 years$46,146$41,267$36,847$32,855$29,261$25,131
12 years$41,868$37,039$32,701$28,819$25,357$21,427
13 years$38,251$33,472$29,216$25,442$22,112$18,378
14 years$35,153$30,425$26,250$22,585$19,383$15,839
15 years$32,471$27,794$23,701$20,142$17,066$13,707
16 years$30,127$25,500$21,488$18,035$15,083$11,903
17 years$28,060$23,485$19,553$16,204$13,374$10,367
18 years$26,225$21,701$17,850$14,603$11,891$9,052
19 years$24,585$20,112$16,341$13,195$10,599$7,920
20 years$23,111$18,689$14,997$11,951$9,467$6,943
21 years$21,779$17,408$13,794$10,846$8,472$6,096
22 years$20,570$16,250$12,713$9,862$7,594$5,359
23 years$19,467$15,198$11,738$8,981$6,817$4,718
24 years$18,458$14,240$10,856$8,191$6,127$4,157
25 years$17,531$13,364$10,055$7,481$5,514$3,667
26 years$16,677$12,560$9,325$6,840$4,966$3,237
27 years$15,888$11,820$8,659$6,261$4,478$2,859
28 years$15,156$11,138$8,050$5,736$4,040$2,528
29 years$14,476$10,507$7,491$5,260$3,648$2,235
30 years$13,842$9,923$6,978$4,828$3,296$1,978
31 years$13,250$9,381$6,505$4,434$2,980$1,751
32 years$12,697$8,876$6,070$4,075$2,696$1,550
33 years$12,178$8,406$5,667$3,747$2,440$1,373
34 years$11,690$7,967$5,295$3,448$2,209$1,217
35 years$11,232$7,556$4,950$3,174$2,001$1,079
36 years$10,800$7,172$4,631$2,923$1,813$956
37 years$10,392$6,812$4,335$2,693$1,643$848
38 years$10,007$6,474$4,059$2,482$1,489$752
39 years$9,642$6,156$3,803$2,289$1,351$667
40 years$9,297$5,857$3,565$2,111$1,225$592
41 years$8,969$5,575$3,342$1,948$1,111$525
42 years$8,657$5,309$3,135$1,798$1,009$466
43 years$8,361$5,059$2,942$1,659$915$413
44 years$8,079$4,822$2,762$1,532$831$367
45 years$7,811$4,598$2,593$1,415$754$326
46 years$7,555$4,387$2,435$1,307$685$289
47 years$7,310$4,186$2,288$1,208$622$257
48 years$7,076$3,996$2,150$1,116$565$228
49 years$6,853$3,816$2,021$1,031$513$202
50 years$6,639$3,645$1,900$953$466$179

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,800,000, adding $6,713 every year, while hoping to spend $28,701 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: 56/16/28 Blend
57$6,800,000$6,800,000$6,800,000$6,800,000
58$7,500,524$7,140,124$7,034,724$7,862,316
59$8,235,040$7,459,453$7,239,850$8,431,341
60$9,043,515$7,793,467$7,450,885$9,047,468
61$9,933,462$8,142,855$7,667,998$9,718,215
62$10,913,159$8,508,339$7,891,361$10,448,862
63$11,991,731$8,890,677$8,121,151$11,245,216
64$13,179,227$9,290,660$8,357,549$12,113,667
65$14,486,725$9,709,119$8,600,744$13,061,244
66$15,926,429$10,146,924$8,850,927$14,095,679
67$17,511,787$10,604,986$9,108,295$15,225,483
68$19,257,620$11,084,260$9,373,053$16,460,020
69$21,180,255$11,585,747$9,645,409$17,809,595
70$23,297,688$12,110,495$9,925,577$19,285,551
71$25,629,746$12,659,603$10,213,777$20,900,373
72$28,198,278$13,234,222$10,510,237$22,667,803
73$31,027,360$13,835,557$10,815,188$24,602,968
74$34,143,525$14,464,873$11,128,870$26,722,524
75$37,576,006$15,123,493$11,451,529$29,044,804
76$41,357,020$15,812,806$11,783,417$31,589,997
77$45,522,068$16,534,266$12,124,793$34,380,330
78$50,110,270$17,289,395$12,475,925$37,440,277
79$55,164,734$18,079,792$12,837,085$40,796,790
80$60,732,965$18,907,130$13,208,555$44,479,546
81$66,867,311$19,773,163$13,590,625$48,521,229
82$73,625,456$20,679,728$13,983,591$52,957,831
83$81,070,970$21,628,751$14,387,758$57,828,995
84$89,273,900$22,622,252$14,803,440$63,178,377
85$98,311,441$23,662,346$15,230,958$69,054,064
86$108,268,657$24,751,249$15,670,644$75,509,019
87$119,239,287$25,891,287$16,122,837$82,601,579
88$131,326,628$27,084,894$16,587,886$90,396,000
89$144,644,513$28,334,623$17,066,150$98,963,064
90$159,318,384$29,643,150$17,557,996$108,380,738
91$175,486,474$31,013,279$18,063,804$118,734,909
92$193,301,113$32,447,949$18,583,960$130,120,191
93$212,930,169$33,950,241$19,118,866$142,640,808
94$234,558,628$35,523,384$19,668,929$156,411,582
95$258,390,341$37,170,763$20,234,571$171,559,002
96$284,649,951$38,895,925$20,816,224$188,222,421
97$313,585,010$40,702,590$21,414,332$206,555,361
98$345,468,320$42,594,656$22,029,351$226,726,960
99$380,600,503$44,576,208$22,661,749$248,923,560
100$419,312,843$46,651,531$23,312,006$273,350,459