Can I retire at age 58 with 9,600,000?

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 $9,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$792,759$785,698$778,808$772,084$765,517$751,599
2 years$392,455$385,146$378,062$371,194$364,532$350,559
3 years$259,038$251,697$244,631$237,828$231,274$217,682
4 years$192,342$185,024$178,029$171,341$164,947$151,840
5 years$152,335$145,061$138,158$131,607$125,390$112,807
6 years$125,673$118,453$111,652$105,247$99,217$87,171
7 years$106,636$99,477$92,783$86,529$80,690$69,184
8 years$92,364$85,270$78,688$72,587$66,940$55,972
9 years$81,270$74,243$67,774$61,828$56,373$45,936
10 years$72,400$65,441$59,087$53,297$48,033$38,118
11 years$65,147$58,259$52,019$46,384$41,310$31,905
12 years$59,108$52,290$46,165$40,685$35,798$26,891
13 years$54,001$47,255$41,246$35,919$31,217$22,794
14 years$49,628$42,953$37,060$31,885$27,364$19,410
15 years$45,842$39,239$33,460$28,435$24,094$16,592
16 years$42,532$36,001$30,336$25,461$21,294$14,229
17 years$39,614$33,155$27,605$22,876$18,881$12,235
18 years$37,024$30,637$25,200$20,616$16,788$10,545
19 years$34,708$28,394$23,069$18,629$14,963$9,106
20 years$32,627$26,385$21,172$16,872$13,366$7,877
21 years$30,747$24,577$19,474$15,312$11,961$6,823
22 years$29,040$22,941$17,948$13,922$10,721$5,917
23 years$27,483$21,457$16,572$12,679$9,624$5,137
24 years$26,059$20,104$15,326$11,564$8,650$4,463
25 years$24,750$18,866$14,195$10,561$7,784$3,882
26 years$23,544$17,731$13,165$9,657$7,011$3,378
27 years$22,430$16,687$12,225$8,839$6,321$2,941
28 years$21,396$15,724$11,365$8,098$5,704$2,562
29 years$20,436$14,834$10,576$7,426$5,150$2,233
30 years$19,541$14,009$9,851$6,816$4,654$1,947
31 years$18,706$13,243$9,184$6,260$4,207$1,698
32 years$17,925$12,531$8,569$5,753$3,806$1,481
33 years$17,192$11,867$8,001$5,290$3,444$1,293
34 years$16,504$11,247$7,475$4,867$3,118$1,128
35 years$15,857$10,668$6,989$4,481$2,825$985
36 years$15,247$10,125$6,538$4,127$2,559$860
37 years$14,671$9,617$6,119$3,802$2,319$751
38 years$14,127$9,139$5,731$3,504$2,103$656
39 years$13,613$8,690$5,369$3,231$1,907$573
40 years$13,125$8,268$5,032$2,980$1,730$500
41 years$12,662$7,871$4,719$2,750$1,569$437
42 years$12,222$7,496$4,426$2,538$1,424$382
43 years$11,804$7,142$4,153$2,343$1,292$334
44 years$11,406$6,808$3,899$2,163$1,173$292
45 years$11,027$6,492$3,661$1,998$1,065$255
46 years$10,665$6,193$3,438$1,845$967$223
47 years$10,320$5,910$3,230$1,705$878$195
48 years$9,990$5,642$3,036$1,575$797$170
49 years$9,675$5,388$2,853$1,456$724$149
50 years$9,373$5,146$2,682$1,346$658$130

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $9,600,000, adding $6,923 every year, while hoping to spend $33,307 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: 64/6/30 Blend
57$9,600,000$9,600,000$9,600,000$9,600,000
58$10,586,341$10,077,541$9,928,741$11,178,462
59$11,630,709$10,535,902$10,225,916$12,039,355
60$12,780,487$11,015,607$10,531,929$12,975,430
61$14,046,391$11,517,665$10,847,042$13,997,637
62$15,440,229$12,043,137$11,171,524$15,114,455
63$16,975,013$12,593,132$11,505,651$16,335,216
64$18,665,081$13,168,812$11,849,708$17,670,195
65$20,526,233$13,771,398$12,203,987$19,130,701
66$22,575,878$14,402,165$12,568,789$20,729,187
67$24,833,200$15,062,453$12,944,426$22,479,364
68$27,319,337$15,753,665$13,331,215$24,396,328
69$30,057,585$16,477,270$13,729,487$26,496,703
70$33,073,612$17,234,810$14,139,578$28,798,794
71$36,395,704$18,027,898$14,561,837$31,322,760
72$40,055,030$18,858,229$14,996,622$34,090,802
73$44,085,935$19,727,575$15,444,302$37,127,370
74$48,526,271$20,637,796$15,905,256$40,459,392
75$53,417,742$21,590,840$16,379,874$44,116,529
76$58,806,311$22,588,750$16,868,558$48,131,447
77$64,742,622$23,633,666$17,371,722$52,540,129
78$71,282,485$24,727,832$17,889,791$57,382,211
79$78,487,403$25,873,600$18,423,203$62,701,352
80$86,425,146$27,073,435$18,972,409$68,545,645
81$95,170,399$28,329,920$19,537,872$74,968,069
82$104,805,458$29,645,765$20,120,069$82,026,986
83$115,421,015$31,023,808$20,719,492$89,786,690
84$127,117,009$32,467,025$21,336,646$98,318,009
85$140,003,571$33,978,536$21,972,050$107,698,975
86$154,202,062$35,561,611$22,626,241$118,015,552
87$169,846,220$37,219,678$23,299,767$129,362,451
88$187,083,421$38,956,329$23,993,197$141,844,016
89$206,076,074$40,775,332$24,707,112$155,575,206
90$227,003,146$42,680,636$25,442,113$170,682,680
91$250,061,860$44,676,381$26,198,817$187,305,986
92$275,469,551$46,766,905$26,977,859$205,598,878
93$303,465,720$48,956,758$27,779,892$225,730,759
94$334,314,294$51,250,710$28,605,589$247,888,281
95$368,306,118$53,653,760$29,455,641$272,277,099
96$405,761,697$56,171,150$30,330,761$299,123,813
97$447,034,230$58,808,376$31,231,681$328,678,097
98$492,512,933$61,571,198$32,159,154$361,215,056
99$542,626,722$64,465,656$33,113,955$397,037,815
100$597,848,257$67,498,083$34,096,883$436,480,379