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

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 $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%12.9%
1 years$801,017$793,882$786,921$780,126$773,492$764,143
2 years$396,543$389,158$382,000$375,061$368,329$358,921
3 years$261,736$254,319$247,180$240,305$233,683$224,507
4 years$194,346$186,951$179,883$173,126$166,665$157,792
5 years$153,922$146,572$139,597$132,978$126,696$118,153
6 years$126,982$119,687$112,815$106,343$100,250$92,046
7 years$107,746$100,513$93,750$87,431$81,530$73,669
8 years$93,326$86,158$79,507$73,343$67,637$60,118
9 years$82,117$75,016$68,480$62,472$56,960$49,780
10 years$73,154$66,123$59,702$53,852$48,533$41,687
11 years$65,826$58,866$52,561$46,867$41,740$35,222
12 years$59,723$52,835$46,646$41,109$36,171$29,974
13 years$54,564$47,747$41,675$36,293$31,542$25,657
14 years$50,145$43,401$37,446$32,217$27,649$22,069
15 years$46,319$39,647$33,808$28,732$24,345$19,060
16 years$42,975$36,376$30,652$25,726$21,516$16,517
17 years$40,027$33,501$27,892$23,115$19,078$14,355
18 years$37,409$30,956$25,462$20,831$16,963$12,507
19 years$35,070$28,690$23,309$18,823$15,119$10,920
20 years$32,967$26,660$21,392$17,047$13,505$9,551
21 years$31,067$24,833$19,677$15,472$12,085$8,367
22 years$29,342$23,180$18,135$14,067$10,833$7,340
23 years$27,770$21,680$16,744$12,811$9,724$6,446
24 years$26,330$20,313$15,486$11,685$8,740$5,667
25 years$25,008$19,063$14,343$10,671$7,865$4,987
26 years$23,790$17,916$13,302$9,757$7,084$4,392
27 years$22,663$16,861$12,352$8,931$6,387$3,870
28 years$21,619$15,888$11,483$8,183$5,763$3,413
29 years$20,649$14,988$10,686$7,504$5,204$3,011
30 years$19,745$14,155$9,954$6,887$4,702$2,658
31 years$18,901$13,381$9,280$6,325$4,251$2,347
32 years$18,111$12,661$8,658$5,813$3,846$2,073
33 years$17,371$11,990$8,084$5,345$3,480$1,832
34 years$16,676$11,364$7,553$4,918$3,151$1,619
35 years$16,022$10,779$7,062$4,527$2,854$1,431
36 years$15,406$10,231$6,606$4,170$2,586$1,266
37 years$14,824$9,717$6,183$3,842$2,344$1,119
38 years$14,275$9,234$5,790$3,541$2,125$990
39 years$13,754$8,781$5,425$3,265$1,927$876
40 years$13,261$8,354$5,085$3,011$1,748$775
41 years$12,794$7,953$4,768$2,778$1,586$686
42 years$12,350$7,574$4,472$2,564$1,439$607
43 years$11,927$7,216$4,197$2,367$1,306$537
44 years$11,525$6,879$3,939$2,186$1,185$476
45 years$11,142$6,559$3,699$2,018$1,076$421
46 years$10,776$6,257$3,474$1,864$977$373
47 years$10,428$5,971$3,264$1,723$887$330
48 years$10,094$5,701$3,067$1,592$806$292
49 years$9,776$5,444$2,883$1,471$732$259
50 years$9,471$5,200$2,710$1,360$665$229

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 $4,670 every year, while hoping to spend $32,138 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: 44/35/21 Blend
57$9,700,000$9,700,000$9,700,000$9,700,000
58$10,694,217$10,180,117$10,029,767$11,099,520
59$11,750,833$10,644,748$10,331,570$11,850,637
60$12,914,146$11,131,069$10,642,406$12,660,794
61$14,195,006$11,640,109$10,962,543$13,538,309
62$15,605,368$12,172,945$11,292,260$14,489,435
63$17,158,404$12,730,709$11,631,840$15,521,037
64$18,868,631$13,314,583$11,981,576$16,640,650
65$20,752,043$13,925,809$12,341,770$17,856,552
66$22,826,266$14,565,688$12,712,734$19,177,835
67$25,110,721$15,235,583$13,094,787$20,614,485
68$27,626,811$15,936,922$13,488,258$22,177,475
69$30,398,117$16,671,203$13,893,486$23,878,864
70$33,450,628$17,439,995$14,310,821$25,731,905
71$36,812,980$18,244,943$14,740,621$27,751,166
72$40,516,729$19,087,770$15,183,257$29,952,659
73$44,596,648$19,970,284$15,639,109$32,353,992
74$49,091,056$20,894,378$16,108,569$34,974,526
75$54,042,179$21,862,038$16,592,042$37,835,552
76$59,496,547$22,875,343$17,089,941$40,960,485
77$65,505,436$23,936,476$17,602,695$44,375,081
78$72,125,349$25,047,722$18,130,744$48,107,674
79$79,418,552$26,211,477$18,674,541$52,189,432
80$87,453,658$27,430,254$19,234,552$56,654,648
81$96,306,279$28,706,684$19,811,257$61,541,056
82$106,059,737$30,043,529$20,405,151$66,890,178
83$116,805,849$31,443,680$21,016,743$72,747,707
84$128,645,797$32,910,172$21,646,555$79,163,932
85$141,691,081$34,446,183$22,295,127$86,194,200
86$156,064,571$36,055,046$22,963,014$93,899,433
87$171,901,669$37,740,255$23,650,787$102,346,692
88$189,351,584$39,505,472$24,359,033$111,609,798
89$208,578,742$41,354,538$25,088,357$121,770,019
90$229,764,340$43,291,476$25,839,383$132,916,826
91$253,108,051$45,320,507$26,612,751$145,148,726
92$278,829,915$47,446,054$27,409,121$158,574,179
93$307,172,412$49,672,756$28,229,172$173,312,609
94$338,402,751$52,005,475$29,073,602$189,495,518
95$372,815,396$54,449,307$29,943,132$207,267,713
96$410,734,840$57,009,597$30,838,502$226,788,657
97$452,518,675$59,691,949$31,760,472$248,233,963
98$498,560,961$62,502,235$32,709,829$271,797,028
99$549,295,949$65,446,615$33,687,379$297,690,850
100$605,202,182$68,531,545$34,693,952$326,150,015