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%17.1%
1 years$627,601$622,011$616,556$611,233$606,035$588,522
2 years$310,694$304,907$299,299$293,862$288,588$271,083
3 years$205,072$199,260$193,666$188,280$183,092$166,144
4 years$152,271$146,477$140,940$135,645$130,583$114,321
5 years$120,599$114,840$109,375$104,189$99,267$83,736
6 years$99,491$93,775$88,391$83,320$78,547$63,761
7 years$84,420$78,753$73,453$68,502$63,879$49,839
8 years$73,122$67,505$62,294$57,465$52,994$39,691
9 years$64,339$58,776$53,654$48,947$44,629$32,049
10 years$57,317$51,808$46,777$42,193$38,026$26,153
11 years$51,575$46,121$41,182$36,721$32,704$21,517
12 years$46,794$41,396$36,548$32,209$28,340$17,819
13 years$42,751$37,410$32,653$28,436$24,713$14,833
14 years$39,289$34,005$29,339$25,242$21,663$12,400
15 years$36,291$31,064$26,489$22,511$19,074$10,402
16 years$33,671$28,501$24,016$20,157$16,858$8,751
17 years$31,361$26,248$21,854$18,110$14,947$7,379
18 years$29,310$24,254$19,950$16,321$13,290$6,235
19 years$27,477$22,479$18,263$14,748$11,846$5,277
20 years$25,830$20,888$16,761$13,357$10,581$4,472
21 years$24,341$19,457$15,417$12,122$9,469$3,794
22 years$22,990$18,162$14,209$11,022$8,488$3,223
23 years$21,758$16,987$13,119$10,038$7,619$2,739
24 years$20,630$15,915$12,133$9,155$6,848$2,330
25 years$19,594$14,936$11,238$8,361$6,162$1,983
26 years$18,639$14,037$10,422$7,645$5,551$1,689
27 years$17,757$13,211$9,678$6,997$5,004$1,438
28 years$16,939$12,448$8,997$6,411$4,516$1,226
29 years$16,179$11,744$8,373$5,879$4,077$1,045
30 years$15,470$11,091$7,799$5,396$3,684$891
31 years$14,809$10,484$7,271$4,955$3,331$760
32 years$14,190$9,920$6,784$4,554$3,013$648
33 years$13,610$9,395$6,334$4,188$2,727$553
34 years$13,066$8,904$5,918$3,853$2,469$472
35 years$12,553$8,445$5,533$3,547$2,236$403
36 years$12,071$8,016$5,176$3,267$2,026$344
37 years$11,615$7,613$4,845$3,010$1,836$293
38 years$11,184$7,235$4,537$2,774$1,665$250
39 years$10,777$6,880$4,250$2,558$1,510$214
40 years$10,390$6,546$3,984$2,359$1,369$183
41 years$10,024$6,231$3,736$2,177$1,242$156
42 years$9,676$5,934$3,504$2,009$1,127$133
43 years$9,345$5,654$3,288$1,855$1,023$114
44 years$9,030$5,389$3,087$1,712$929$97
45 years$8,730$5,139$2,898$1,581$843$83
46 years$8,443$4,903$2,722$1,461$765$71
47 years$8,170$4,679$2,557$1,350$695$60
48 years$7,909$4,466$2,403$1,247$631$52
49 years$7,659$4,265$2,259$1,153$573$44
50 years$7,420$4,074$2,124$1,065$521$38

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 $3,361 every year, while hoping to spend $21,963 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: 69/26/5 Blend
57$7,600,000$7,600,000$7,600,000$7,600,000
58$8,378,667$7,975,867$7,858,067$8,952,080
59$9,209,922$8,343,316$8,097,944$9,699,040
60$10,125,230$8,728,034$8,345,120$10,512,784
61$11,133,140$9,130,844$8,599,818$11,402,267
62$12,243,073$9,552,608$8,862,265$12,374,898
63$13,465,411$9,994,231$9,132,696$13,438,831
64$14,811,595$10,456,660$9,411,353$14,603,035
65$16,294,230$10,940,888$9,698,485$15,877,380
66$17,927,207$11,447,957$9,994,350$17,272,725
67$19,725,832$11,978,958$10,299,211$18,801,021
68$21,706,975$12,535,034$10,613,342$20,475,419
69$23,889,221$13,117,385$10,937,024$22,310,394
70$26,293,052$13,727,268$11,270,545$24,321,878
71$28,941,038$14,365,999$11,614,203$26,527,408
72$31,858,051$15,034,960$11,968,306$28,946,288
73$35,071,498$15,735,599$12,333,170$31,599,769
74$38,611,580$16,469,433$12,709,120$34,511,246
75$42,511,579$17,238,052$13,096,493$37,706,476
76$46,808,168$18,043,125$13,495,634$41,213,820
77$51,541,762$18,886,399$13,906,898$45,064,503
78$56,756,896$19,769,707$14,330,654$49,292,907
79$62,502,647$20,694,970$14,767,278$53,936,892
80$68,833,095$21,664,202$15,217,161$59,038,151
81$75,807,838$22,679,515$15,680,703$64,642,595
82$83,492,548$23,743,121$16,158,317$70,800,787
83$91,959,596$24,857,343$16,650,429$77,568,411
84$101,288,734$26,024,611$17,157,477$85,006,795
85$111,567,845$27,247,478$17,679,913$93,183,483
86$122,893,777$28,528,616$18,218,201$102,172,868
87$135,373,253$29,870,829$18,772,822$112,056,892
88$149,123,882$31,277,057$19,344,269$122,925,808
89$164,275,265$32,750,380$19,933,049$134,879,029
90$180,970,223$34,294,029$20,539,687$148,026,063
91$199,366,142$35,911,393$21,164,722$162,487,533
92$219,636,458$37,606,021$21,808,711$178,396,316
93$241,972,298$39,381,637$22,472,224$195,898,784
94$266,584,281$41,242,146$23,155,852$215,156,184
95$293,704,507$43,191,640$23,860,202$236,346,148
96$323,588,747$45,234,411$24,585,899$259,664,364
97$356,518,861$47,374,959$25,333,588$285,326,410
98$392,805,454$49,618,001$26,103,933$313,569,788
99$432,790,813$51,968,485$26,897,617$344,656,149
100$476,852,133$54,431,598$27,715,344$378,873,757