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%11.4%
1 years$801,017$793,882$786,921$780,126$773,492$768,939
2 years$396,543$389,158$382,000$375,061$368,329$363,737
3 years$261,736$254,319$247,180$240,305$233,683$229,192
4 years$194,346$186,951$179,883$173,126$166,665$162,310
5 years$153,922$146,572$139,597$132,978$126,696$122,491
6 years$126,982$119,687$112,815$106,343$100,250$96,199
7 years$107,746$100,513$93,750$87,431$81,530$77,636
8 years$93,326$86,158$79,507$73,343$67,637$63,900
9 years$82,117$75,016$68,480$62,472$56,960$53,379
10 years$73,154$66,123$59,702$53,852$48,533$45,106
11 years$65,826$58,866$52,561$46,867$41,740$38,464
12 years$59,723$52,835$46,646$41,109$36,171$33,044
13 years$54,564$47,747$41,675$36,293$31,542$28,561
14 years$50,145$43,401$37,446$32,217$27,649$24,811
15 years$46,319$39,647$33,808$28,732$24,345$21,645
16 years$42,975$36,376$30,652$25,726$21,516$18,951
17 years$40,027$33,501$27,892$23,115$19,078$16,644
18 years$37,409$30,956$25,462$20,831$16,963$14,656
19 years$35,070$28,690$23,309$18,823$15,119$12,935
20 years$32,967$26,660$21,392$17,047$13,505$11,438
21 years$31,067$24,833$19,677$15,472$12,085$10,132
22 years$29,342$23,180$18,135$14,067$10,833$8,989
23 years$27,770$21,680$16,744$12,811$9,724$7,985
24 years$26,330$20,313$15,486$11,685$8,740$7,102
25 years$25,008$19,063$14,343$10,671$7,865$6,323
26 years$23,790$17,916$13,302$9,757$7,084$5,634
27 years$22,663$16,861$12,352$8,931$6,387$5,025
28 years$21,619$15,888$11,483$8,183$5,763$4,484
29 years$20,649$14,988$10,686$7,504$5,204$4,004
30 years$19,745$14,155$9,954$6,887$4,702$3,578
31 years$18,901$13,381$9,280$6,325$4,251$3,198
32 years$18,111$12,661$8,658$5,813$3,846$2,860
33 years$17,371$11,990$8,084$5,345$3,480$2,559
34 years$16,676$11,364$7,553$4,918$3,151$2,290
35 years$16,022$10,779$7,062$4,527$2,854$2,050
36 years$15,406$10,231$6,606$4,170$2,586$1,836
37 years$14,824$9,717$6,183$3,842$2,344$1,645
38 years$14,275$9,234$5,790$3,541$2,125$1,474
39 years$13,754$8,781$5,425$3,265$1,927$1,321
40 years$13,261$8,354$5,085$3,011$1,748$1,184
41 years$12,794$7,953$4,768$2,778$1,586$1,061
42 years$12,350$7,574$4,472$2,564$1,439$951
43 years$11,927$7,216$4,197$2,367$1,306$853
44 years$11,525$6,879$3,939$2,186$1,185$765
45 years$11,142$6,559$3,699$2,018$1,076$686
46 years$10,776$6,257$3,474$1,864$977$615
47 years$10,428$5,971$3,264$1,723$887$552
48 years$10,094$5,701$3,067$1,592$806$495
49 years$9,776$5,444$2,883$1,471$732$444
50 years$9,471$5,200$2,710$1,360$665$399

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 $6,794 every year, while hoping to spend $28,747 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: 62/28/10 Blend
57$9,700,000$9,700,000$9,700,000$9,700,000
58$10,696,408$10,182,308$10,031,958$11,335,201
59$11,756,855$10,650,655$10,337,442$12,231,895
60$12,924,504$11,140,987$10,652,196$13,206,307
61$14,210,260$11,654,351$10,976,501$14,269,169
62$15,626,137$12,191,845$11,310,645$15,429,042
63$17,185,377$12,754,619$11,654,925$16,695,341
64$18,902,568$13,343,878$12,009,648$18,078,420
65$20,793,788$13,960,886$12,375,129$19,589,667
66$22,876,751$14,606,967$12,751,693$21,241,609
67$25,170,980$15,283,508$13,139,674$23,048,026
68$27,697,985$15,991,965$13,539,419$25,024,078
69$30,481,471$16,733,863$13,951,281$27,186,445
70$33,547,559$17,510,800$14,375,627$29,553,483
71$36,925,033$18,324,452$14,812,833$32,145,388
72$40,645,611$19,176,575$15,263,287$34,984,388
73$44,744,246$20,069,010$15,727,390$38,094,946
74$49,259,455$21,003,687$16,205,553$41,503,988
75$54,233,680$21,982,629$16,698,201$45,241,151
76$59,713,694$23,007,956$17,205,769$49,339,059
77$65,751,038$24,081,893$17,728,709$53,833,627
78$72,402,506$25,206,768$18,267,483$58,764,393
79$79,730,687$26,385,025$18,822,570$64,174,885
80$87,804,552$27,619,226$19,394,460$70,113,030
81$96,700,102$28,912,054$19,983,660$76,631,598
82$106,501,093$30,266,325$20,590,693$83,788,693
83$117,299,818$31,684,989$21,216,095$91,648,297
84$129,197,985$33,171,139$21,860,420$100,280,866
85$142,307,673$34,728,018$22,524,238$109,763,990
86$156,752,391$36,359,027$23,208,135$120,183,113
87$172,668,245$38,067,729$23,912,718$131,632,338
88$190,205,220$39,857,861$24,638,607$144,215,304
89$209,528,597$41,733,342$25,386,446$158,046,154
90$230,820,517$43,698,278$26,156,894$173,250,608
91$254,281,692$45,756,976$26,950,633$189,967,137
92$280,133,308$47,913,951$27,768,362$208,348,263
93$308,619,107$50,173,936$28,610,804$228,561,985
94$340,007,692$52,541,896$29,478,702$250,793,358
95$374,595,060$55,023,032$30,372,823$275,246,227
96$412,707,397$57,622,802$31,293,953$302,145,140
97$454,704,158$60,346,924$32,242,906$331,737,454
98$500,981,456$63,201,398$33,220,518$364,295,659
99$551,975,810$66,192,512$34,227,651$400,119,938
100$608,168,257$69,326,859$35,265,191$439,540,983