Can I retire at age 58 with 9,700,000?

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 $9,700,000?

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 years$801,017$793,882$786,921$780,126$773,492$751,443
2 years$396,543$389,158$382,000$375,061$368,329$346,287
3 years$261,736$254,319$247,180$240,305$233,683$212,338
4 years$194,346$186,951$179,883$173,126$166,665$146,180
5 years$153,922$146,572$139,597$132,978$126,696$107,129
6 years$126,982$119,687$112,815$106,343$100,250$81,618
7 years$107,746$100,513$93,750$87,431$81,530$63,833
8 years$93,326$86,158$79,507$73,343$67,637$50,865
9 years$82,117$75,016$68,480$62,472$56,960$41,097
10 years$73,154$66,123$59,702$53,852$48,533$33,557
11 years$65,826$58,866$52,561$46,867$41,740$27,627
12 years$59,723$52,835$46,646$41,109$36,171$22,893
13 years$54,564$47,747$41,675$36,293$31,542$19,070
14 years$50,145$43,401$37,446$32,217$27,649$15,953
15 years$46,319$39,647$33,808$28,732$24,345$13,392
16 years$42,975$36,376$30,652$25,726$21,516$11,275
17 years$40,027$33,501$27,892$23,115$19,078$9,514
18 years$37,409$30,956$25,462$20,831$16,963$8,045
19 years$35,070$28,690$23,309$18,823$15,119$6,814
20 years$32,967$26,660$21,392$17,047$13,505$5,779
21 years$31,067$24,833$19,677$15,472$12,085$4,907
22 years$29,342$23,180$18,135$14,067$10,833$4,171
23 years$27,770$21,680$16,744$12,811$9,724$3,548
24 years$26,330$20,313$15,486$11,685$8,740$3,020
25 years$25,008$19,063$14,343$10,671$7,865$2,573
26 years$23,790$17,916$13,302$9,757$7,084$2,192
27 years$22,663$16,861$12,352$8,931$6,387$1,869
28 years$21,619$15,888$11,483$8,183$5,763$1,594
29 years$20,649$14,988$10,686$7,504$5,204$1,360
30 years$19,745$14,155$9,954$6,887$4,702$1,161
31 years$18,901$13,381$9,280$6,325$4,251$991
32 years$18,111$12,661$8,658$5,813$3,846$846
33 years$17,371$11,990$8,084$5,345$3,480$722
34 years$16,676$11,364$7,553$4,918$3,151$617
35 years$16,022$10,779$7,062$4,527$2,854$527
36 years$15,406$10,231$6,606$4,170$2,586$450
37 years$14,824$9,717$6,183$3,842$2,344$384
38 years$14,275$9,234$5,790$3,541$2,125$328
39 years$13,754$8,781$5,425$3,265$1,927$281
40 years$13,261$8,354$5,085$3,011$1,748$240
41 years$12,794$7,953$4,768$2,778$1,586$205
42 years$12,350$7,574$4,472$2,564$1,439$175
43 years$11,927$7,216$4,197$2,367$1,306$150
44 years$11,525$6,879$3,939$2,186$1,185$128
45 years$11,142$6,559$3,699$2,018$1,076$109
46 years$10,776$6,257$3,474$1,864$977$93
47 years$10,428$5,971$3,264$1,723$887$80
48 years$10,094$5,701$3,067$1,592$806$68
49 years$9,776$5,444$2,883$1,471$732$58
50 years$9,471$5,200$2,710$1,360$665$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $9,700,000, adding $5,507 every year, while hoping to spend $33,018 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: 52/28/20 Blend
57$9,700,000$9,700,000$9,700,000$9,700,000
58$10,695,080$10,180,980$10,030,630$11,191,981
59$11,750,848$10,644,718$10,331,526$11,998,379
60$12,913,197$11,130,071$10,641,394$12,871,141
61$14,192,964$11,638,066$10,960,502$13,819,750
62$15,602,090$12,169,775$11,289,122$14,851,422
63$17,153,732$12,726,323$11,627,537$15,974,083
64$18,862,389$13,308,889$11,976,036$17,196,450
65$20,744,036$13,918,708$12,334,917$18,528,101
66$22,816,279$14,557,076$12,704,488$19,979,569
67$25,098,516$15,225,349$13,085,064$21,562,433
68$27,612,122$15,924,949$13,476,972$23,289,428
69$30,380,654$16,657,366$13,880,545$25,174,559
70$33,430,066$17,424,163$14,296,129$27,233,230
71$36,788,962$18,226,976$14,724,079$29,482,386
72$40,488,860$19,067,522$15,164,759$31,940,667
73$44,564,492$19,947,598$15,618,547$34,628,582
74$49,054,129$20,869,090$16,085,827$37,568,697
75$53,999,947$21,833,972$16,567,000$40,785,842
76$59,448,422$22,844,316$17,062,474$44,307,342
77$65,450,765$23,902,293$17,572,671$48,163,269
78$72,063,414$25,010,176$18,098,026$52,386,722
79$79,348,558$26,170,350$18,638,986$57,014,130
80$87,374,729$27,385,315$19,196,010$62,085,595
81$96,217,447$28,657,691$19,769,572$67,645,259
82$105,959,933$29,990,225$20,360,159$73,741,720
83$116,693,894$31,385,793$20,968,272$80,428,479
84$128,520,389$32,847,416$21,594,428$87,764,439
85$141,550,785$34,378,254$22,239,156$95,814,456
86$155,907,802$35,981,626$22,903,005$104,649,943
87$171,726,678$37,661,006$23,586,536$114,349,533
88$189,156,442$39,420,038$24,290,328$124,999,816
89$208,361,322$41,262,543$25,014,977$136,696,145
90$229,522,294$43,192,524$25,761,096$149,543,532
91$252,838,790$45,214,181$26,529,315$163,657,621
92$278,530,584$47,331,913$27,320,284$179,165,780
93$306,839,861$49,550,334$28,134,671$196,208,283
94$338,033,508$51,874,282$28,973,164$214,939,630
95$372,405,630$54,308,826$29,836,469$235,529,991
96$410,280,329$56,859,283$30,725,316$258,166,801
97$452,014,761$59,531,226$31,640,452$283,056,518
98$498,002,509$62,330,499$32,582,650$310,426,556
99$548,677,298$65,263,226$33,552,701$340,527,420
100$604,517,089$68,335,831$34,551,424$373,635,056