Can I retire at age 58 with 5,000,000?

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 $5,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$412,895$409,217$405,629$402,127$398,707$388,595
2 years$204,404$200,597$196,907$193,330$189,860$179,739
3 years$134,915$131,092$127,412$123,869$120,455$110,640
4 years$100,178$96,367$92,723$89,240$85,910$76,477
5 years$79,341$75,553$71,957$68,545$65,307$56,282
6 years$65,455$61,694$58,152$54,816$51,675$43,068
7 years$55,539$51,811$48,325$45,067$42,026$33,836
8 years$48,106$44,411$40,983$37,806$34,865$27,089
9 years$42,328$38,668$35,299$32,202$29,361$21,993
10 years$37,708$34,084$30,774$27,759$25,017$18,048
11 years$33,931$30,343$27,093$24,158$21,515$14,935
12 years$30,785$27,234$24,044$21,190$18,645$12,441
13 years$28,126$24,612$21,482$18,708$16,259$10,420
14 years$25,848$22,371$19,302$16,607$14,252$8,765
15 years$23,876$20,437$17,427$14,810$12,549$7,399
16 years$22,152$18,750$15,800$13,261$11,091$6,265
17 years$20,632$17,268$14,377$11,915$9,834$5,318
18 years$19,283$15,957$13,125$10,738$8,744$4,523
19 years$18,077$14,789$12,015$9,702$7,793$3,854
20 years$16,993$13,742$11,027$8,787$6,961$3,289
21 years$16,014$12,800$10,143$7,975$6,230$2,810
22 years$15,125$11,949$9,348$7,251$5,584$2,403
23 years$14,314$11,175$8,631$6,604$5,012$2,057
24 years$13,572$10,471$7,982$6,023$4,505$1,762
25 years$12,891$9,826$7,393$5,501$4,054$1,511
26 years$12,263$9,235$6,857$5,029$3,652$1,296
27 years$11,682$8,691$6,367$4,604$3,292$1,112
28 years$11,144$8,190$5,919$4,218$2,971$955
29 years$10,644$7,726$5,508$3,868$2,683$820
30 years$10,178$7,296$5,131$3,550$2,424$704
31 years$9,743$6,898$4,783$3,260$2,191$605
32 years$9,336$6,526$4,463$2,996$1,982$520
33 years$8,954$6,181$4,167$2,755$1,794$447
34 years$8,596$5,858$3,893$2,535$1,624$384
35 years$8,259$5,556$3,640$2,334$1,471$330
36 years$7,941$5,274$3,405$2,149$1,333$284
37 years$7,641$5,009$3,187$1,980$1,208$244
38 years$7,358$4,760$2,985$1,825$1,095$210
39 years$7,090$4,526$2,796$1,683$993$181
40 years$6,836$4,306$2,621$1,552$901$156
41 years$6,595$4,099$2,458$1,432$817$134
42 years$6,366$3,904$2,305$1,322$742$115
43 years$6,148$3,720$2,163$1,220$673$99
44 years$5,941$3,546$2,031$1,127$611$85
45 years$5,743$3,381$1,907$1,040$555$73
46 years$5,555$3,225$1,791$961$504$63
47 years$5,375$3,078$1,682$888$457$54
48 years$5,203$2,938$1,581$820$415$47
49 years$5,039$2,806$1,486$758$377$40
50 years$4,882$2,680$1,397$701$343$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $5,000,000, adding $6,732 every year, while hoping to spend $45,412 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: 56/20/24 Blend
57$5,000,000$5,000,000$5,000,000$5,000,000
58$5,516,944$5,251,944$5,174,444$5,789,423
59$6,031,354$5,460,971$5,299,470$6,185,884
60$6,596,712$5,678,719$5,427,162$6,612,248
61$7,218,167$5,905,566$5,557,562$7,075,814
62$7,901,391$6,141,909$5,690,711$7,580,178
63$8,652,633$6,388,163$5,826,650$8,129,292
64$9,478,778$6,644,760$5,965,420$8,727,507
65$10,387,414$6,912,153$6,107,061$9,379,609
66$11,386,896$7,190,815$6,251,614$10,090,865
67$12,486,435$7,481,241$6,399,119$10,867,072
68$13,696,176$7,783,946$6,549,614$11,714,611
69$15,027,299$8,099,472$6,703,139$12,640,502
70$16,492,121$8,428,384$6,859,731$13,652,475
71$18,104,214$8,771,271$7,019,429$14,759,039
72$19,878,532$9,128,752$7,182,268$15,969,562
73$21,831,552$9,501,471$7,348,284$17,294,356
74$23,981,432$9,890,104$7,517,513$18,744,776
75$26,348,175$10,295,356$7,689,986$20,333,325
76$28,953,826$10,717,966$7,865,738$22,073,768
77$31,822,675$11,158,705$8,044,799$23,981,267
78$34,981,486$11,618,380$8,227,199$26,072,514
79$38,459,753$12,097,836$8,412,965$28,365,895
80$42,289,973$12,597,955$8,602,124$30,881,657
81$46,507,956$13,119,660$8,794,701$33,642,098
82$51,153,161$13,663,918$8,990,718$36,671,778
83$56,269,072$14,231,738$9,190,195$39,997,749
84$61,903,602$14,824,178$9,393,151$43,649,805
85$68,109,549$15,442,342$9,599,601$47,660,766
86$74,945,094$16,087,387$9,809,559$52,066,781
87$82,474,348$16,760,524$10,023,033$56,907,672
88$90,767,958$17,463,017$10,240,032$62,227,304
89$99,903,776$18,196,190$10,460,559$68,074,000
90$109,967,588$18,961,430$10,684,615$74,500,991
91$121,053,928$19,760,186$10,912,195$81,566,919
92$133,266,968$20,593,975$11,143,293$89,336,389
93$146,721,503$21,464,384$11,377,898$97,880,572
94$161,544,032$22,373,075$11,615,993$107,277,879
95$177,873,952$23,321,784$11,857,558$117,614,694
96$195,864,876$24,312,332$12,102,566$128,986,190
97$215,686,078$25,346,622$12,350,988$141,497,223
98$237,524,098$26,426,646$12,602,785$155,263,317
99$261,584,494$27,554,489$12,857,916$170,411,755
100$288,093,787$28,732,334$13,116,332$187,082,774