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%12.4%
1 years$602,827$597,458$592,219$587,105$582,112$576,273
2 years$298,429$292,871$287,485$282,262$277,196$271,315
3 years$196,977$191,395$186,022$180,848$175,865$170,124
4 years$146,260$140,695$135,376$130,291$125,428$119,872
5 years$115,838$110,307$105,057$100,076$95,349$89,993
6 years$95,564$90,074$84,902$80,031$75,446$70,298
7 years$81,087$75,644$70,554$65,798$61,358$56,420
8 years$70,235$64,841$59,835$55,197$50,902$46,173
9 years$61,799$56,456$51,536$47,015$42,867$38,346
10 years$55,054$49,763$44,930$40,528$36,525$32,209
11 years$49,539$44,301$39,556$35,271$31,413$27,298
12 years$44,947$39,762$35,105$30,938$27,221$23,305
13 years$41,064$35,933$31,364$27,313$23,738$20,013
14 years$37,738$32,662$28,181$24,246$20,808$17,272
15 years$34,859$29,838$25,443$21,623$18,321$14,967
16 years$32,342$27,376$23,068$19,361$16,192$13,015
17 years$30,123$25,212$20,991$17,396$14,357$11,351
18 years$28,153$23,297$19,162$15,677$12,766$9,925
19 years$26,393$21,591$17,542$14,165$11,378$8,697
20 years$24,810$20,064$16,099$12,830$10,163$7,635
21 years$23,381$18,689$14,808$11,644$9,095$6,714
22 years$22,082$17,445$13,648$10,587$8,153$5,912
23 years$20,899$16,316$12,602$9,642$7,318$5,212
24 years$19,816$15,287$11,654$8,794$6,578$4,600
25 years$18,821$14,346$10,794$8,031$5,919$4,064
26 years$17,904$13,483$10,011$7,343$5,332$3,593
27 years$17,056$12,689$9,296$6,721$4,807$3,179
28 years$16,270$11,957$8,642$6,158$4,337$2,814
29 years$15,540$11,280$8,042$5,647$3,916$2,493
30 years$14,860$10,653$7,491$5,183$3,539$2,209
31 years$14,225$10,070$6,984$4,760$3,199$1,959
32 years$13,630$9,529$6,516$4,374$2,894$1,738
33 years$13,073$9,024$6,084$4,023$2,619$1,542
34 years$12,550$8,552$5,684$3,701$2,371$1,368
35 years$12,058$8,112$5,314$3,407$2,148$1,215
36 years$11,594$7,699$4,972$3,138$1,946$1,079
37 years$11,156$7,313$4,653$2,891$1,764$958
38 years$10,743$6,950$4,358$2,665$1,599$851
39 years$10,351$6,608$4,083$2,457$1,450$756
40 years$9,980$6,287$3,827$2,266$1,315$672
41 years$9,628$5,985$3,588$2,091$1,193$597
42 years$9,294$5,700$3,366$1,930$1,083$531
43 years$8,976$5,431$3,158$1,781$983$472
44 years$8,673$5,177$2,965$1,645$892$420
45 years$8,385$4,936$2,784$1,519$810$373
46 years$8,110$4,709$2,615$1,403$735$332
47 years$7,848$4,494$2,456$1,296$668$295
48 years$7,597$4,290$2,308$1,198$606$262
49 years$7,357$4,097$2,170$1,107$551$233
50 years$7,127$3,913$2,040$1,023$500$207

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 $4,091 every year, while hoping to spend $45,763 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: 43/39/18 Blend
57$7,300,000$7,300,000$7,300,000$7,300,000
58$8,048,820$7,661,920$7,548,770$8,352,588
59$8,821,108$7,988,662$7,752,962$8,893,855
60$9,670,636$8,329,882$7,962,461$9,475,088
61$10,605,233$8,686,239$8,177,396$10,103,839
62$11,633,528$9,058,425$8,397,900$10,784,504
63$12,765,025$9,447,165$8,624,107$11,521,910
64$14,010,199$9,853,217$8,856,155$12,321,356
65$15,380,589$10,277,375$9,094,187$13,188,661
66$16,888,911$10,720,469$9,338,344$14,130,217
67$18,549,177$11,183,368$9,588,776$15,153,047
68$20,376,824$11,666,985$9,845,631$16,264,866
69$22,388,864$12,172,270$10,109,063$17,474,155
70$24,604,040$12,700,224$10,379,228$18,790,232
71$27,043,007$13,251,889$10,656,287$20,223,343
72$29,728,523$13,828,361$10,940,402$21,784,750
73$32,685,666$14,430,785$11,231,739$23,486,835
74$35,942,070$15,060,359$11,530,469$25,343,216
75$39,528,185$15,718,341$11,836,763$27,368,867
76$43,477,564$16,406,044$12,150,799$29,580,260
77$47,827,182$17,124,846$12,472,757$31,995,512
78$52,617,780$17,876,189$12,802,820$34,634,554
79$57,894,254$18,661,583$13,141,175$37,519,311
80$63,706,076$19,482,609$13,488,013$40,673,910
81$70,107,763$20,340,924$13,843,528$44,124,898
82$77,159,387$21,238,261$14,207,919$47,901,488
83$84,927,146$22,176,438$14,581,386$52,035,828
84$93,483,989$23,157,357$14,964,136$56,563,303
85$102,910,299$24,183,011$15,356,378$61,522,858
86$113,294,657$25,255,486$15,758,325$66,957,361
87$124,734,677$26,376,969$16,170,193$72,914,003
88$137,337,923$27,549,750$16,592,203$79,444,733
89$151,222,930$28,776,227$17,024,581$86,606,741
90$166,520,319$30,058,912$17,467,555$94,462,996
91$183,374,030$31,400,437$17,921,356$103,082,824
92$201,942,681$32,803,559$18,386,222$112,542,561
93$222,401,067$34,271,165$18,862,393$122,926,261
94$244,941,806$35,806,282$19,350,113$134,326,481
95$269,777,158$37,412,078$19,849,630$146,845,147
96$297,141,032$39,091,874$20,361,196$160,594,503
97$327,291,189$40,849,147$20,885,068$175,698,164
98$360,511,678$42,687,543$21,421,505$192,292,269
99$397,115,516$44,610,879$21,970,772$210,526,754
100$437,447,641$46,623,156$22,533,136$230,566,760