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

Use the below retirement simulation to view the chances of a successful retirement.
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%
1 years$627,601$622,011$616,556$611,233$606,035$586,400
2 years$310,694$304,907$299,299$293,862$288,588$268,991
3 years$205,072$199,260$193,666$188,280$183,092$164,147
4 years$152,271$146,477$140,940$135,645$130,583$112,436
5 years$120,599$114,840$109,375$104,189$99,267$81,966
6 years$99,491$93,775$88,391$83,320$78,547$62,106
7 years$84,420$78,753$73,453$68,502$63,879$48,297
8 years$73,122$67,505$62,294$57,465$52,994$38,259
9 years$64,339$58,776$53,654$48,947$44,629$30,724
10 years$57,317$51,808$46,777$42,193$38,026$24,931
11 years$51,575$46,121$41,182$36,721$32,704$20,393
12 years$46,794$41,396$36,548$32,209$28,340$16,787
13 years$42,751$37,410$32,653$28,436$24,713$13,890
14 years$39,289$34,005$29,339$25,242$21,663$11,539
15 years$36,291$31,064$26,489$22,511$19,074$9,619
16 years$33,671$28,501$24,016$20,157$16,858$8,040
17 years$31,361$26,248$21,854$18,110$14,947$6,735
18 years$29,310$24,254$19,950$16,321$13,290$5,653
19 years$27,477$22,479$18,263$14,748$11,846$4,752
20 years$25,830$20,888$16,761$13,357$10,581$3,999
21 years$24,341$19,457$15,417$12,122$9,469$3,370
22 years$22,990$18,162$14,209$11,022$8,488$2,842
23 years$21,758$16,987$13,119$10,038$7,619$2,398
24 years$20,630$15,915$12,133$9,155$6,848$2,026
25 years$19,594$14,936$11,238$8,361$6,162$1,712
26 years$18,639$14,037$10,422$7,645$5,551$1,447
27 years$17,757$13,211$9,678$6,997$5,004$1,224
28 years$16,939$12,448$8,997$6,411$4,516$1,035
29 years$16,179$11,744$8,373$5,879$4,077$876
30 years$15,470$11,091$7,799$5,396$3,684$741
31 years$14,809$10,484$7,271$4,955$3,331$628
32 years$14,190$9,920$6,784$4,554$3,013$531
33 years$13,610$9,395$6,334$4,188$2,727$450
34 years$13,066$8,904$5,918$3,853$2,469$381
35 years$12,553$8,445$5,533$3,547$2,236$323
36 years$12,071$8,016$5,176$3,267$2,026$273
37 years$11,615$7,613$4,845$3,010$1,836$232
38 years$11,184$7,235$4,537$2,774$1,665$196
39 years$10,777$6,880$4,250$2,558$1,510$166
40 years$10,390$6,546$3,984$2,359$1,369$141
41 years$10,024$6,231$3,736$2,177$1,242$119
42 years$9,676$5,934$3,504$2,009$1,127$101
43 years$9,345$5,654$3,288$1,855$1,023$86
44 years$9,030$5,389$3,087$1,712$929$73
45 years$8,730$5,139$2,898$1,581$843$62
46 years$8,443$4,903$2,722$1,461$765$52
47 years$8,170$4,679$2,557$1,350$695$44
48 years$7,909$4,466$2,403$1,247$631$37
49 years$7,659$4,265$2,259$1,153$573$32
50 years$7,420$4,074$2,124$1,065$521$27

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 $3,817 every year, while hoping to spend $45,472 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: 49/43/8 Blend
57$7,600,000$7,600,000$7,600,000$7,600,000
58$8,379,137$7,976,337$7,858,537$8,771,907
59$9,185,427$8,318,796$8,073,416$9,383,384
60$10,072,435$8,676,511$8,293,970$10,042,052
61$11,048,346$9,050,182$8,520,340$10,756,408
62$12,122,177$9,440,542$8,752,672$11,531,664
63$13,303,867$9,848,356$8,991,114$12,373,544
64$14,604,364$10,274,428$9,235,819$13,288,334
65$16,035,732$10,719,598$9,486,942$14,282,941
66$17,611,264$11,184,745$9,744,642$15,364,953
67$19,345,607$11,670,792$10,009,081$16,542,707
68$21,254,899$12,178,701$10,280,426$17,825,368
69$23,356,925$12,709,483$10,558,846$19,223,008
70$25,671,278$13,264,195$10,844,514$20,746,699
71$28,219,553$13,843,944$11,137,609$22,408,615
72$31,025,540$14,449,890$11,438,312$24,222,141
73$34,115,457$15,083,247$11,746,807$26,201,997
74$37,518,192$15,745,285$12,063,284$28,364,372
75$41,265,580$16,437,336$12,387,937$30,727,071
76$45,392,699$17,160,795$12,720,962$33,309,682
77$49,938,201$17,917,121$13,062,561$36,133,752
78$54,944,681$18,707,844$13,412,941$39,222,988
79$60,459,075$19,534,564$13,772,311$42,603,475
80$66,533,103$20,398,960$14,140,885$46,303,914
81$73,223,759$21,302,789$14,518,884$50,355,893
82$80,593,846$22,247,889$14,906,531$54,794,172
83$88,712,573$23,236,190$15,304,054$59,657,012
84$97,656,201$24,269,709$15,711,686$64,986,521
85$107,508,770$25,350,562$16,129,664$70,829,054
86$118,362,888$26,480,962$16,558,231$77,235,636
87$130,320,604$27,663,232$16,997,633$84,262,439
88$143,494,376$28,899,800$17,448,125$91,971,306
89$158,008,127$30,193,214$17,909,961$100,430,322
90$173,998,416$31,546,142$18,383,404$109,714,452
91$191,615,728$32,961,376$18,868,722$119,906,238
92$211,025,894$34,441,846$19,366,186$131,096,569
93$232,411,656$35,990,618$19,876,075$143,385,527
94$255,974,392$37,610,904$20,398,669$156,883,327
95$281,936,013$39,306,072$20,934,259$171,711,338
96$310,541,066$41,079,649$21,483,136$188,003,226
97$342,059,033$42,935,330$22,045,599$205,906,198
98$376,786,879$44,876,987$22,621,952$225,582,382
99$415,051,858$46,908,676$23,212,504$247,210,342
100$457,214,595$49,034,649$23,817,571$270,986,755