Can I retire at age 58 with 7,200,000?

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 $7,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$594,569$589,273$584,106$579,063$574,138$568,853
2 years$294,341$288,859$283,547$278,396$273,399$268,074
3 years$194,278$188,773$183,473$178,371$173,456$168,256
4 years$144,257$138,768$133,522$128,506$123,710$118,675
5 years$114,251$108,796$103,618$98,705$94,042$89,188
6 years$94,255$88,840$83,739$78,935$74,413$69,744
7 years$79,977$74,608$69,587$64,897$60,517$56,037
8 years$69,273$63,953$59,016$54,440$50,205$45,913
9 years$60,953$55,682$50,830$46,371$42,280$38,175
10 years$54,300$49,081$44,315$39,972$36,025$32,104
11 years$48,860$43,694$39,014$34,788$30,982$27,242
12 years$44,331$39,217$34,624$30,514$26,849$23,286
13 years$40,501$35,441$30,934$26,939$23,413$20,024
14 years$37,221$32,215$27,795$23,913$20,523$17,304
15 years$34,381$29,429$25,095$21,327$18,070$15,015
16 years$31,899$27,000$22,752$19,096$15,971$13,075
17 years$29,711$24,866$20,704$17,157$14,161$11,419
18 years$27,768$22,978$18,900$15,462$12,591$9,999
19 years$26,031$21,296$17,302$13,971$11,223$8,774
20 years$24,471$19,789$15,879$12,654$10,024$7,714
21 years$23,060$18,433$14,605$11,484$8,971$6,793
22 years$21,780$17,206$13,461$10,442$8,041$5,991
23 years$20,613$16,092$12,429$9,509$7,218$5,290
24 years$19,544$15,078$11,495$8,673$6,488$4,676
25 years$18,563$14,150$10,646$7,921$5,838$4,137
26 years$17,658$13,298$9,874$7,242$5,259$3,663
27 years$16,822$12,515$9,169$6,629$4,741$3,246
28 years$16,047$11,793$8,524$6,074$4,278$2,879
29 years$15,327$11,125$7,932$5,570$3,863$2,554
30 years$14,656$10,507$7,388$5,112$3,490$2,267
31 years$14,030$9,932$6,888$4,695$3,156$2,014
32 years$13,444$9,398$6,427$4,314$2,854$1,789
33 years$12,894$8,900$6,000$3,968$2,583$1,590
34 years$12,378$8,435$5,606$3,650$2,339$1,414
35 years$11,893$8,001$5,242$3,360$2,118$1,257
36 years$11,435$7,594$4,903$3,095$1,919$1,118
37 years$11,004$7,212$4,590$2,852$1,740$995
38 years$10,596$6,854$4,298$2,628$1,577$885
39 years$10,209$6,518$4,027$2,423$1,430$788
40 years$9,844$6,201$3,774$2,235$1,297$701
41 years$9,496$5,903$3,539$2,062$1,177$625
42 years$9,167$5,622$3,320$1,903$1,068$556
43 years$8,853$5,356$3,115$1,757$969$495
44 years$8,555$5,106$2,924$1,622$880$441
45 years$8,270$4,869$2,746$1,498$799$393
46 years$7,999$4,645$2,579$1,384$725$350
47 years$7,740$4,432$2,423$1,279$658$312
48 years$7,493$4,231$2,277$1,181$598$278
49 years$7,256$4,041$2,140$1,092$543$247
50 years$7,030$3,860$2,012$1,009$493$220

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,200,000, adding $4,191 every year, while hoping to spend $39,903 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: 59/28/13 Blend
57$7,200,000$7,200,000$7,200,000$7,200,000
58$7,938,723$7,557,123$7,445,523$8,381,282
59$8,706,016$7,884,966$7,652,492$9,007,923
60$9,550,236$8,227,535$7,865,056$9,686,101
61$10,479,187$8,585,511$8,083,362$10,424,669
62$11,501,468$8,959,605$8,307,558$11,229,448
63$12,626,553$9,350,561$8,537,798$12,106,836
64$13,864,883$9,759,160$8,774,236$13,063,873
65$15,227,962$10,186,219$9,017,033$14,108,298
66$16,728,463$10,632,593$9,266,353$15,248,626
67$18,380,354$11,099,178$9,522,363$16,494,224
68$20,199,023$11,586,911$9,785,236$17,855,396
69$22,201,430$12,096,776$10,055,147$19,343,480
70$24,406,257$12,629,800$10,332,276$20,970,951
71$26,834,096$13,187,061$10,616,808$22,751,538
72$29,507,635$13,769,687$10,908,932$24,700,348
73$32,451,872$14,378,861$11,208,840$26,834,010
74$35,694,358$15,015,819$11,516,731$29,170,825
75$39,265,447$15,681,859$11,832,806$31,730,938
76$43,198,591$16,378,339$12,157,273$34,536,525
77$47,530,650$17,106,680$12,490,344$37,611,998
78$52,302,241$17,868,372$12,832,236$40,984,233
79$57,558,124$18,664,977$13,183,170$44,682,820
80$63,347,620$19,498,128$13,543,373$48,740,338
81$69,725,079$20,369,539$13,913,079$53,192,658
82$76,750,394$21,281,002$14,292,523$58,079,279
83$84,489,561$22,234,399$14,681,950$63,443,698
84$93,015,308$23,231,696$15,081,607$69,333,811
85$102,407,778$24,274,957$15,491,749$75,802,365
86$112,755,284$25,366,343$15,912,635$82,907,451
87$124,155,146$26,508,116$16,344,531$90,713,044
88$136,714,606$27,702,650$16,787,709$99,289,605
89$150,551,844$28,952,428$17,242,446$108,714,738
90$165,797,090$30,260,054$17,709,025$119,073,920
91$182,593,852$31,628,256$18,187,736$130,461,299
92$201,100,276$33,059,892$18,678,877$142,980,575
93$221,490,634$34,557,956$19,182,749$156,745,979
94$243,956,970$36,125,587$19,699,662$171,883,336
95$268,710,912$37,766,072$20,229,932$188,531,251
96$295,985,671$39,482,856$20,773,881$206,842,410
97$326,038,243$41,279,549$21,331,839$226,985,009
98$359,151,831$43,159,934$21,904,143$249,144,341
99$395,638,522$45,127,975$22,491,136$273,524,527
100$435,842,231$47,187,826$23,093,169$300,350,442