Can I retire at age 58 with 7,600,000?

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 $7,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$627,601$622,011$616,556$611,233$606,035$584,300
2 years$310,694$304,907$299,299$293,862$288,588$266,925
3 years$205,072$199,260$193,666$188,280$183,092$162,183
4 years$152,271$146,477$140,940$135,645$130,583$110,587
5 years$120,599$114,840$109,375$104,189$99,267$80,236
6 years$99,491$93,775$88,391$83,320$78,547$60,495
7 years$84,420$78,753$73,453$68,502$63,879$46,804
8 years$73,122$67,505$62,294$57,465$52,994$36,879
9 years$64,339$58,776$53,654$48,947$44,629$29,454
10 years$57,317$51,808$46,777$42,193$38,026$23,764
11 years$51,575$46,121$41,182$36,721$32,704$19,326
12 years$46,794$41,396$36,548$32,209$28,340$15,814
13 years$42,751$37,410$32,653$28,436$24,713$13,004
14 years$39,289$34,005$29,339$25,242$21,663$10,736
15 years$36,291$31,064$26,489$22,511$19,074$8,892
16 years$33,671$28,501$24,016$20,157$16,858$7,384
17 years$31,361$26,248$21,854$18,110$14,947$6,145
18 years$29,310$24,254$19,950$16,321$13,290$5,123
19 years$27,477$22,479$18,263$14,748$11,846$4,277
20 years$25,830$20,888$16,761$13,357$10,581$3,575
21 years$24,341$19,457$15,417$12,122$9,469$2,991
22 years$22,990$18,162$14,209$11,022$8,488$2,505
23 years$21,758$16,987$13,119$10,038$7,619$2,099
24 years$20,630$15,915$12,133$9,155$6,848$1,760
25 years$19,594$14,936$11,238$8,361$6,162$1,477
26 years$18,639$14,037$10,422$7,645$5,551$1,239
27 years$17,757$13,211$9,678$6,997$5,004$1,041
28 years$16,939$12,448$8,997$6,411$4,516$874
29 years$16,179$11,744$8,373$5,879$4,077$734
30 years$15,470$11,091$7,799$5,396$3,684$617
31 years$14,809$10,484$7,271$4,955$3,331$518
32 years$14,190$9,920$6,784$4,554$3,013$435
33 years$13,610$9,395$6,334$4,188$2,727$366
34 years$13,066$8,904$5,918$3,853$2,469$308
35 years$12,553$8,445$5,533$3,547$2,236$259
36 years$12,071$8,016$5,176$3,267$2,026$217
37 years$11,615$7,613$4,845$3,010$1,836$183
38 years$11,184$7,235$4,537$2,774$1,665$154
39 years$10,777$6,880$4,250$2,558$1,510$129
40 years$10,390$6,546$3,984$2,359$1,369$109
41 years$10,024$6,231$3,736$2,177$1,242$91
42 years$9,676$5,934$3,504$2,009$1,127$77
43 years$9,345$5,654$3,288$1,855$1,023$65
44 years$9,030$5,389$3,087$1,712$929$54
45 years$8,730$5,139$2,898$1,581$843$46
46 years$8,443$4,903$2,722$1,461$765$38
47 years$8,170$4,679$2,557$1,350$695$32
48 years$7,909$4,466$2,403$1,247$631$27
49 years$7,659$4,265$2,259$1,153$573$23
50 years$7,420$4,074$2,124$1,065$521$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,600,000, adding $2,038 every year, while hoping to spend $41,530 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: 78/7/15 Blend
57$7,600,000$7,600,000$7,600,000$7,600,000
58$8,377,302$7,974,502$7,856,702$9,004,162
59$9,187,599$8,321,065$8,075,714$9,764,136
60$10,079,155$8,683,218$8,300,671$10,592,070
61$11,060,214$9,061,680$8,531,728$11,499,086
62$12,139,859$9,457,206$8,769,045$12,493,070
63$13,328,101$9,870,586$9,012,784$13,582,709
64$14,635,968$10,302,645$9,263,113$14,777,571
65$16,075,611$10,754,249$9,520,202$16,088,191
66$17,660,422$11,226,306$9,784,227$17,526,172
67$19,405,154$11,719,764$10,055,368$19,104,294
68$21,326,065$12,235,617$10,333,808$20,836,634
69$23,441,069$12,774,908$10,619,735$22,738,694
70$25,769,905$13,338,725$10,913,343$24,827,553
71$28,334,324$13,928,212$11,214,830$27,122,022
72$31,158,295$14,544,564$11,524,396$29,642,821
73$34,268,227$15,189,034$11,842,250$32,412,777
74$37,693,225$15,862,935$12,168,603$35,457,034
75$41,465,355$16,567,640$12,503,673$38,803,292
76$45,619,956$17,304,590$12,847,681$42,482,067
77$50,195,969$18,075,292$13,200,856$46,526,975
78$55,236,302$18,881,326$13,563,429$50,975,053
79$60,788,240$19,724,346$13,935,639$55,867,103
80$66,903,888$20,606,086$14,317,730$61,248,077
81$73,640,662$21,528,362$14,709,951$67,167,500
82$81,061,833$22,493,075$15,112,558$73,679,937
83$89,237,123$23,502,219$15,525,812$80,845,506
84$98,243,363$24,557,880$15,949,980$88,730,441
85$108,165,217$25,662,247$16,385,335$97,407,720
86$119,095,982$26,817,611$16,832,157$106,957,750
87$131,138,470$28,026,371$17,290,732$117,469,123
88$144,405,974$29,291,044$17,761,352$129,039,454
89$159,023,342$30,614,264$18,244,316$141,776,296
90$175,128,153$31,998,792$18,739,930$155,798,156
91$192,872,014$33,447,522$19,248,507$171,235,612
92$212,421,993$34,963,485$19,770,366$188,232,541
93$233,962,197$36,549,856$20,305,833$206,947,477
94$257,695,506$38,209,964$20,855,244$227,555,106
95$283,845,492$39,947,296$21,418,938$250,247,910
96$312,658,524$41,765,506$21,997,266$275,237,981
97$344,406,102$43,668,424$22,590,582$302,759,024
98$379,387,408$45,660,061$23,199,251$333,068,559
99$417,932,143$47,744,623$23,823,644$366,450,348
100$460,403,628$49,926,516$24,464,143$403,217,071