Can I retire at age 58 with 7,300,000?

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 $7,300,000?

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$602,827$597,458$592,219$587,105$582,112$576,753
2 years$298,429$292,871$287,485$282,262$277,196$271,797
3 years$196,977$191,395$186,022$180,848$175,865$170,592
4 years$146,260$140,695$135,376$130,291$125,428$120,324
5 years$115,838$110,307$105,057$100,076$95,349$90,427
6 years$95,564$90,074$84,902$80,031$75,446$70,713
7 years$81,087$75,644$70,554$65,798$61,358$56,815
8 years$70,235$64,841$59,835$55,197$50,902$46,551
9 years$61,799$56,456$51,536$47,015$42,867$38,705
10 years$55,054$49,763$44,930$40,528$36,525$32,549
11 years$49,539$44,301$39,556$35,271$31,413$27,621
12 years$44,947$39,762$35,105$30,938$27,221$23,610
13 years$41,064$35,933$31,364$27,313$23,738$20,302
14 years$37,738$32,662$28,181$24,246$20,808$17,544
15 years$34,859$29,838$25,443$21,623$18,321$15,224
16 years$32,342$27,376$23,068$19,361$16,192$13,256
17 years$30,123$25,212$20,991$17,396$14,357$11,578
18 years$28,153$23,297$19,162$15,677$12,766$10,138
19 years$26,393$21,591$17,542$14,165$11,378$8,896
20 years$24,810$20,064$16,099$12,830$10,163$7,821
21 years$23,381$18,689$14,808$11,644$9,095$6,887
22 years$22,082$17,445$13,648$10,587$8,153$6,074
23 years$20,899$16,316$12,602$9,642$7,318$5,363
24 years$19,816$15,287$11,654$8,794$6,578$4,741
25 years$18,821$14,346$10,794$8,031$5,919$4,194
26 years$17,904$13,483$10,011$7,343$5,332$3,714
27 years$17,056$12,689$9,296$6,721$4,807$3,292
28 years$16,270$11,957$8,642$6,158$4,337$2,919
29 years$15,540$11,280$8,042$5,647$3,916$2,590
30 years$14,860$10,653$7,491$5,183$3,539$2,299
31 years$14,225$10,070$6,984$4,760$3,199$2,042
32 years$13,630$9,529$6,516$4,374$2,894$1,814
33 years$13,073$9,024$6,084$4,023$2,619$1,612
34 years$12,550$8,552$5,684$3,701$2,371$1,433
35 years$12,058$8,112$5,314$3,407$2,148$1,275
36 years$11,594$7,699$4,972$3,138$1,946$1,134
37 years$11,156$7,313$4,653$2,891$1,764$1,009
38 years$10,743$6,950$4,358$2,665$1,599$898
39 years$10,351$6,608$4,083$2,457$1,450$799
40 years$9,980$6,287$3,827$2,266$1,315$711
41 years$9,628$5,985$3,588$2,091$1,193$633
42 years$9,294$5,700$3,366$1,930$1,083$564
43 years$8,976$5,431$3,158$1,781$983$502
44 years$8,673$5,177$2,965$1,645$892$447
45 years$8,385$4,936$2,784$1,519$810$398
46 years$8,110$4,709$2,615$1,403$735$355
47 years$7,848$4,494$2,456$1,296$668$316
48 years$7,597$4,290$2,308$1,198$606$281
49 years$7,357$4,097$2,170$1,107$551$251
50 years$7,127$3,913$2,040$1,023$500$223

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,300,000, adding $3,883 every year, while hoping to spend $57,292 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: 40/44/16 Blend
57$7,300,000$7,300,000$7,300,000$7,300,000
58$8,048,605$7,661,705$7,548,555$8,332,120
59$8,808,605$7,976,171$7,740,474$8,848,407
60$9,644,204$8,304,125$7,936,901$9,400,721
61$10,563,054$8,646,168$8,137,928$9,996,999
62$11,573,583$9,002,928$8,343,647$10,641,263
63$12,685,079$9,375,061$8,554,149$11,337,924
64$13,907,774$9,763,256$8,769,530$12,091,825
65$15,252,941$10,168,230$8,989,883$12,908,284
66$16,733,002$10,590,735$9,215,306$13,793,139
67$18,361,644$11,031,556$9,445,894$14,752,802
68$20,153,947$11,491,517$9,681,747$15,794,315
69$22,126,526$11,971,478$9,922,961$16,925,418
70$24,297,689$12,472,338$10,169,639$18,154,612
71$26,687,611$12,995,040$10,421,878$19,491,241
72$29,318,518$13,540,568$10,679,783$20,945,574
73$32,214,904$14,109,953$10,943,453$22,528,902
74$35,403,757$14,704,274$11,212,991$24,253,635
75$38,914,816$15,324,659$11,488,502$26,133,420
76$42,780,849$15,972,289$11,770,089$28,183,264
77$47,037,964$16,648,400$12,057,855$30,419,671
78$51,725,949$17,354,284$12,351,906$32,860,794
79$56,888,647$18,091,295$12,652,346$35,526,602
80$62,574,370$18,860,849$12,959,280$38,439,060
81$68,836,353$19,664,428$13,272,814$41,622,338
82$75,733,260$20,503,584$13,593,052$45,103,027
83$83,329,732$21,379,940$13,920,099$48,910,388
84$91,697,003$22,295,195$14,254,060$53,076,624
85$100,913,566$23,251,128$14,595,040$57,637,172
86$111,065,918$24,249,601$14,943,142$62,631,037
87$122,249,373$25,292,563$15,298,468$68,101,151
88$134,568,965$26,382,055$15,661,123$74,094,772
89$148,140,435$27,520,211$16,031,206$80,663,920
90$163,091,326$28,709,268$16,408,818$87,865,865
91$179,562,186$29,951,567$16,794,058$95,763,659
92$197,707,893$31,249,558$17,187,024$104,426,719
93$217,699,119$32,605,807$17,587,810$113,931,478
94$239,723,938$34,023,001$17,996,510$124,362,094
95$263,989,604$35,503,951$18,413,217$135,811,238
96$290,724,502$37,051,604$18,838,019$148,380,959
97$320,180,311$38,669,042$19,271,002$162,183,632
98$352,634,373$40,359,495$19,712,251$177,343,015
99$388,392,312$42,126,344$20,161,844$193,995,402
100$427,790,922$43,973,129$20,619,860$212,290,899