Can I retire at age 58 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$388,122$384,664$381,291$377,999$374,785$362,497
2 years$192,139$188,561$185,093$181,730$178,469$166,207
3 years$126,821$123,227$119,767$116,436$113,228$101,376
4 years$94,168$90,585$87,160$83,886$80,755$69,404
5 years$74,581$71,019$67,640$64,432$61,389$50,569
6 years$61,527$57,993$54,663$51,527$48,575$38,295
7 years$52,207$48,702$45,425$42,363$39,504$29,764
8 years$45,220$41,747$38,524$35,538$32,773$23,564
9 years$39,788$36,348$33,181$30,270$27,599$18,912
10 years$35,446$32,039$28,928$26,093$23,516$15,336
11 years$31,895$28,522$25,468$22,709$20,225$12,536
12 years$28,938$25,600$22,602$19,919$17,526$10,313
13 years$26,438$23,135$20,193$17,585$15,283$8,527
14 years$24,297$21,029$18,144$15,610$13,397$7,079
15 years$22,443$19,211$16,381$13,922$11,796$5,897
16 years$20,823$17,625$14,852$12,465$10,425$4,925
17 years$19,394$16,232$13,515$11,200$9,244$4,123
18 years$18,126$14,999$12,337$10,093$8,219$3,458
19 years$16,993$13,901$11,294$9,120$7,326$2,904
20 years$15,974$12,918$10,365$8,260$6,544$2,443
21 years$15,053$12,032$9,534$7,497$5,856$2,057
22 years$14,217$11,232$8,787$6,816$5,249$1,733
23 years$13,455$10,505$8,113$6,208$4,712$1,462
24 years$12,758$9,842$7,503$5,662$4,235$1,233
25 years$12,117$9,237$6,950$5,171$3,811$1,041
26 years$11,527$8,681$6,445$4,728$3,433$880
27 years$10,981$8,170$5,985$4,327$3,095$743
28 years$10,475$7,698$5,564$3,965$2,793$628
29 years$10,005$7,262$5,178$3,636$2,522$531
30 years$9,567$6,859$4,823$3,337$2,278$449
31 years$9,158$6,484$4,496$3,065$2,060$380
32 years$8,776$6,135$4,195$2,816$1,863$321
33 years$8,417$5,810$3,917$2,590$1,686$272
34 years$8,080$5,506$3,660$2,383$1,527$230
35 years$7,763$5,223$3,422$2,194$1,383$195
36 years$7,465$4,957$3,201$2,020$1,253$165
37 years$7,183$4,708$2,996$1,861$1,136$140
38 years$6,917$4,474$2,806$1,716$1,030$118
39 years$6,664$4,255$2,629$1,582$934$100
40 years$6,426$4,048$2,464$1,459$847$85
41 years$6,199$3,853$2,310$1,346$768$72
42 years$5,984$3,670$2,167$1,242$697$61
43 years$5,779$3,497$2,033$1,147$633$51
44 years$5,584$3,333$1,909$1,059$574$43
45 years$5,399$3,178$1,792$978$521$37
46 years$5,222$3,032$1,683$903$473$31
47 years$5,053$2,893$1,581$835$430$26
48 years$4,891$2,762$1,486$771$390$22
49 years$4,737$2,638$1,397$713$355$19
50 years$4,589$2,520$1,313$659$322$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $4,700,000, adding $3,284 every year, while hoping to spend $45,075 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: 46/26/28 Blend
57$4,700,000$4,700,000$4,700,000$4,700,000
58$5,182,787$4,933,687$4,860,837$5,379,268
59$5,663,472$5,127,479$4,975,716$5,712,580
60$6,191,676$5,329,255$5,092,932$6,069,394
61$6,772,199$5,539,360$5,212,517$6,455,689
62$7,410,327$5,758,153$5,334,501$6,874,253
63$8,111,887$5,986,008$5,458,912$7,328,150
64$8,883,295$6,223,319$5,585,782$7,820,748
65$9,731,623$6,470,493$5,715,137$8,355,751
66$10,664,660$6,727,959$5,847,006$8,937,234
67$11,690,991$6,996,164$5,981,416$9,569,676
68$12,820,070$7,275,575$6,118,392$10,258,008
69$14,062,319$7,566,680$6,257,960$11,007,651
70$15,429,218$7,869,989$6,400,143$11,824,570
71$16,933,414$8,186,035$6,544,965$12,715,332
72$18,588,848$8,515,375$6,692,446$13,687,157
73$20,410,874$8,858,593$6,842,607$14,747,998
74$22,416,415$9,216,295$6,995,466$15,906,602
75$24,624,115$9,589,120$7,151,040$17,172,600
76$27,054,520$9,977,732$7,309,345$18,556,592
77$29,730,266$10,382,826$7,470,393$20,070,247
78$32,676,298$10,805,129$7,634,197$21,726,413
79$35,920,103$11,245,403$7,800,764$23,539,231
80$39,491,966$11,704,440$7,970,102$25,524,275
81$43,425,261$12,183,073$8,142,216$27,698,690
82$47,756,764$12,682,169$8,317,106$30,081,355
83$52,526,997$13,202,639$8,494,772$32,693,060
84$57,780,614$13,745,431$8,675,210$35,556,700
85$63,566,819$14,311,540$8,858,412$38,697,485
86$69,939,834$14,902,004$9,044,368$42,143,182
87$76,959,406$15,517,911$9,233,063$45,924,372
88$84,691,374$16,160,398$9,424,480$50,074,733
89$93,208,289$16,830,652$9,618,595$54,631,363
90$102,590,099$17,529,919$9,815,382$59,635,118
91$112,924,902$18,259,498$10,014,811$65,131,006
92$124,309,780$19,020,751$10,216,845$71,168,598
93$136,851,711$19,815,101$10,421,442$77,802,502
94$150,668,583$20,644,039$10,628,558$85,092,869
95$165,890,302$21,509,120$10,838,139$93,105,963
96$182,660,023$22,411,977$11,050,126$101,914,778
97$201,135,496$23,354,315$11,264,456$111,599,730
98$221,490,558$24,337,918$11,481,057$122,249,404
99$243,916,772$25,364,653$11,699,850$133,961,397
100$268,625,237$26,436,475$11,920,749$146,843,225