Can I retire at age 58 with 4,200,000?

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 $4,200,000?

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$346,832$343,743$340,729$337,787$334,914$325,367
2 years$171,699$168,501$165,402$162,397$159,483$149,939
3 years$113,329$110,117$107,026$104,050$101,182$91,940
4 years$84,150$80,948$77,888$74,962$72,164$63,295
5 years$66,647$63,464$60,444$57,578$54,858$46,386
6 years$54,982$51,823$48,848$46,046$43,407$35,340
7 years$46,653$43,521$40,593$37,857$35,302$27,639
8 years$40,409$37,306$34,426$31,757$29,286$22,024
9 years$35,556$32,481$29,651$27,050$24,663$17,794
10 years$31,675$28,631$25,850$23,317$21,014$14,530
11 years$28,502$25,488$22,758$20,293$18,073$11,962
12 years$25,860$22,877$20,197$17,800$15,662$9,912
13 years$23,626$20,674$18,045$15,714$13,657$8,257
14 years$21,712$18,792$16,214$13,950$11,972$6,908
15 years$20,056$17,167$14,639$12,441$10,541$5,799
16 years$18,608$15,750$13,272$11,139$9,316$4,882
17 years$17,331$14,505$12,077$10,008$8,260$4,120
18 years$16,198$13,404$11,025$9,020$7,345$3,483
19 years$15,185$12,422$10,093$8,150$6,547$2,950
20 years$14,274$11,543$9,263$7,381$5,847$2,502
21 years$13,452$10,752$8,520$6,699$5,233$2,125
22 years$12,705$10,037$7,852$6,091$4,690$1,806
23 years$12,024$9,387$7,250$5,547$4,210$1,536
24 years$11,401$8,795$6,705$5,059$3,784$1,308
25 years$10,828$8,254$6,210$4,621$3,405$1,114
26 years$10,301$7,757$5,760$4,225$3,067$949
27 years$9,813$7,301$5,348$3,867$2,766$809
28 years$9,361$6,879$4,972$3,543$2,495$690
29 years$8,941$6,490$4,627$3,249$2,253$589
30 years$8,549$6,129$4,310$2,982$2,036$503
31 years$8,184$5,794$4,018$2,739$1,841$429
32 years$7,842$5,482$3,749$2,517$1,665$366
33 years$7,522$5,192$3,500$2,314$1,507$313
34 years$7,221$4,921$3,270$2,129$1,364$267
35 years$6,937$4,667$3,058$1,960$1,236$228
36 years$6,671$4,430$2,860$1,805$1,120$195
37 years$6,419$4,207$2,677$1,663$1,015$166
38 years$6,181$3,998$2,507$1,533$920$142
39 years$5,956$3,802$2,349$1,414$834$121
40 years$5,742$3,617$2,202$1,304$757$104
41 years$5,540$3,443$2,064$1,203$687$89
42 years$5,347$3,279$1,937$1,110$623$76
43 years$5,164$3,125$1,817$1,025$565$65
44 years$4,990$2,978$1,706$946$513$55
45 years$4,824$2,840$1,602$874$466$47
46 years$4,666$2,709$1,504$807$423$40
47 years$4,515$2,586$1,413$746$384$35
48 years$4,371$2,468$1,328$689$349$30
49 years$4,233$2,357$1,248$637$317$25
50 years$4,101$2,252$1,174$589$288$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $4,200,000, adding $2,424 every year, while hoping to spend $33,640 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: 89/5/6 Blend
57$4,200,000$4,200,000$4,200,000$4,200,000
58$4,630,900$4,408,300$4,343,200$5,042,194
59$5,067,459$4,588,514$4,452,905$5,490,264
60$5,547,420$4,776,431$4,565,157$5,977,924
61$6,075,174$4,972,393$4,680,007$6,513,045
62$6,655,559$5,176,758$4,797,504$7,100,394
63$7,293,906$5,389,899$4,917,700$7,745,223
64$7,996,087$5,612,207$5,040,647$8,453,314
65$8,768,575$5,844,092$5,166,395$9,231,040
66$9,618,499$6,085,982$5,294,998$10,085,419
67$10,553,714$6,338,323$5,426,509$11,024,183
68$11,582,875$6,601,583$5,560,980$12,055,848
69$12,715,521$6,876,253$5,698,465$13,189,798
70$13,962,159$7,162,845$5,839,018$14,436,370
71$15,334,369$7,461,894$5,982,695$15,806,951
72$16,844,908$7,773,960$6,129,548$17,314,088
73$18,507,834$8,099,630$6,279,634$18,971,602
74$20,338,639$8,439,517$6,433,007$20,794,722
75$22,354,390$8,794,264$6,589,723$22,800,226
76$24,573,896$9,164,541$6,749,837$25,006,599
77$27,017,882$9,551,051$6,913,405$27,434,208
78$29,709,183$9,954,531$7,080,482$30,105,494
79$32,672,965$10,375,748$7,251,123$33,045,180
80$35,936,956$10,815,508$7,425,385$36,280,508
81$39,531,712$11,274,654$7,603,321$39,841,495
82$43,490,902$11,754,068$7,784,988$43,761,212
83$47,851,629$12,254,672$7,970,440$48,076,101
84$52,654,777$12,777,432$8,159,731$52,826,315
85$57,945,397$13,323,360$8,352,915$58,056,096
86$63,773,136$13,893,512$8,550,046$63,814,195
87$70,192,699$14,488,998$8,751,176$70,154,327
88$77,264,370$15,110,975$8,956,356$77,135,683
89$85,054,581$15,760,657$9,165,639$84,823,483
90$93,636,534$16,439,316$9,379,074$93,289,594
91$103,090,898$17,148,279$9,596,710$102,613,207
92$113,506,565$17,888,940$9,818,595$112,881,581
93$124,981,492$18,662,756$10,044,776$124,190,871
94$137,623,626$19,471,253$10,275,298$136,647,032
95$151,551,919$20,316,028$10,510,204$150,366,816
96$166,897,455$21,198,753$10,749,535$165,478,878
97$183,804,683$22,121,180$10,993,332$182,124,987
98$202,432,784$23,085,141$11,241,633$200,461,362
99$222,957,173$24,092,558$11,494,472$220,660,150
100$245,571,151$25,145,440$11,751,884$242,911,044