Can I retire at age 58 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$611,085$605,642$600,331$595,148$590,086$578,172
2 years$302,517$296,883$291,423$286,129$280,994$269,042
3 years$199,675$194,016$188,570$183,325$178,274$166,659
4 years$148,264$142,623$137,231$132,076$127,146$115,957
5 years$117,425$111,818$106,497$101,447$96,655$85,922
6 years$96,873$91,308$86,065$81,128$76,480$66,216
7 years$82,198$76,680$71,520$66,700$62,198$52,405
8 years$71,197$65,729$60,655$55,953$51,600$42,275
9 years$62,646$57,229$52,242$47,659$43,454$34,591
10 years$55,808$50,444$45,546$41,083$37,025$28,616
11 years$50,218$44,908$40,098$35,754$31,843$23,876
12 years$45,562$40,307$35,586$31,361$27,594$20,059
13 years$41,626$36,426$31,794$27,687$24,063$16,946
14 years$38,255$33,110$28,567$24,578$21,093$14,382
15 years$35,336$30,246$25,792$21,919$18,572$12,252
16 years$32,785$27,751$23,384$19,626$16,414$10,470
17 years$30,536$25,557$21,279$17,634$14,554$8,971
18 years$28,539$23,616$19,425$15,892$12,941$7,703
19 years$26,754$21,887$17,782$14,360$11,534$6,628
20 years$25,150$20,339$16,320$13,005$10,303$5,711
21 years$23,701$18,945$15,011$11,803$9,220$4,928
22 years$22,385$17,684$13,835$10,732$8,264$4,257
23 years$21,185$16,540$12,774$9,774$7,418$3,682
24 years$20,087$15,496$11,814$8,914$6,668$3,187
25 years$19,078$14,543$10,942$8,141$6,000$2,760
26 years$18,149$13,668$10,148$7,444$5,405$2,392
27 years$17,289$12,863$9,423$6,813$4,873$2,075
28 years$16,493$12,121$8,760$6,242$4,397$1,800
29 years$15,753$11,434$8,152$5,724$3,970$1,562
30 years$15,063$10,799$7,594$5,254$3,587$1,357
31 years$14,419$10,208$7,079$4,825$3,243$1,178
32 years$13,817$9,659$6,605$4,434$2,934$1,024
33 years$13,252$9,147$6,167$4,078$2,655$889
34 years$12,722$8,670$5,762$3,752$2,404$773
35 years$12,223$8,223$5,387$3,454$2,177$672
36 years$11,753$7,805$5,040$3,181$1,973$584
37 years$11,309$7,413$4,717$2,931$1,788$508
38 years$10,890$7,045$4,417$2,701$1,621$442
39 years$10,493$6,699$4,139$2,491$1,470$384
40 years$10,117$6,373$3,879$2,297$1,333$334
41 years$9,760$6,067$3,637$2,120$1,210$291
42 years$9,421$5,778$3,412$1,956$1,098$253
43 years$9,099$5,505$3,202$1,806$996$220
44 years$8,792$5,248$3,005$1,667$904$191
45 years$8,500$5,004$2,822$1,540$821$167
46 years$8,221$4,774$2,650$1,422$745$145
47 years$7,955$4,556$2,490$1,314$677$126
48 years$7,701$4,349$2,340$1,214$615$110
49 years$7,458$4,153$2,199$1,122$558$96
50 years$7,225$3,967$2,068$1,037$507$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,400,000, adding $6,230 every year, while hoping to spend $27,407 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: 47/29/24 Blend
57$7,400,000$7,400,000$7,400,000$7,400,000
58$8,161,226$7,769,026$7,654,326$8,488,569
59$8,964,510$8,120,548$7,881,585$9,070,426
60$9,848,811$8,488,375$8,115,539$9,698,431
61$10,822,363$8,873,279$8,356,383$10,379,570
62$11,894,240$9,276,065$8,604,317$11,118,836
63$13,074,440$9,697,580$8,859,550$11,921,716
64$14,373,980$10,138,709$9,122,292$12,794,240
65$15,805,002$10,600,381$9,392,764$13,743,031
66$17,380,880$11,083,568$9,671,190$14,775,370
67$19,116,357$11,589,290$9,957,802$15,899,261
68$21,027,676$12,118,616$10,252,839$17,123,499
69$23,132,735$12,672,664$10,556,545$18,457,756
70$25,451,257$13,252,607$10,869,172$19,912,668
71$28,004,976$13,859,676$11,190,981$21,499,930
72$30,817,842$14,495,159$11,522,237$23,232,404
73$33,916,246$15,160,405$11,863,216$25,124,239
74$37,329,269$15,856,831$12,214,199$27,190,997
75$41,088,957$16,585,919$12,575,478$29,449,800
76$45,230,625$17,349,223$12,947,351$31,919,486
77$49,793,187$18,148,373$13,330,125$34,620,781
78$54,819,525$18,985,076$13,724,117$37,576,495
79$60,356,894$19,861,122$14,129,652$40,811,726
80$66,457,365$20,778,386$14,547,064$44,354,100
81$73,178,324$21,738,833$14,976,698$48,234,021
82$80,583,002$22,744,526$15,418,907$52,484,955
83$88,741,084$23,797,623$15,874,055$57,143,741
84$97,729,356$24,900,388$16,342,518$62,250,932
85$107,632,437$26,055,194$16,824,679$67,851,173
86$118,543,575$27,264,528$17,320,935$73,993,615
87$130,565,527$28,530,997$17,831,694$80,732,375
88$143,811,530$29,857,334$18,357,374$88,127,038
89$158,406,366$31,246,404$18,898,407$96,243,212
90$174,487,547$32,701,209$19,455,235$105,153,144
91$192,206,605$34,224,897$20,028,314$114,936,390
92$211,730,530$35,820,768$20,618,113$125,680,559
93$233,243,338$37,492,280$21,225,114$137,482,134
94$256,947,817$39,243,060$21,849,813$150,447,371
95$283,067,432$41,076,908$22,492,720$164,693,297
96$311,848,443$42,997,809$23,154,359$180,348,801
97$343,562,222$45,009,940$23,835,269$197,555,843
98$378,507,823$47,117,681$24,536,004$216,470,783
99$417,014,796$49,325,622$25,257,135$237,265,847
100$459,446,304$51,638,576$25,999,248$260,130,743