Can I retire at age 58 with 6,000,000?

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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$495,474$491,061$486,755$482,552$478,448$473,452
2 years$245,284$240,716$236,289$231,996$227,833$222,801
3 years$161,899$157,311$152,895$148,642$144,546$139,636
4 years$120,214$115,640$111,268$107,088$103,092$98,340
5 years$95,210$90,663$86,349$82,254$78,369$73,789
6 years$78,545$74,033$69,782$65,779$62,010$57,610
7 years$66,647$62,173$57,990$54,081$50,431$46,210
8 years$57,728$53,294$49,180$45,367$41,837$37,797
9 years$50,794$46,402$42,359$38,643$35,233$31,371
10 years$45,250$40,901$36,929$33,310$30,020$26,334
11 years$40,717$36,412$32,512$28,990$25,819$22,305
12 years$36,942$32,681$28,853$25,428$22,374$19,030
13 years$33,751$29,534$25,779$22,449$19,510$16,332
14 years$31,018$26,846$23,162$19,928$17,103$14,086
15 years$28,651$24,524$20,912$17,772$15,059$12,198
16 years$26,582$22,500$18,960$15,913$13,309$10,600
17 years$24,759$20,722$17,253$14,298$11,801$9,238
18 years$23,140$19,148$15,750$12,885$10,492$8,072
19 years$21,693$17,746$14,418$11,643$9,352$7,068
20 years$20,392$16,491$13,232$10,545$8,354$6,200
21 years$19,217$15,360$12,171$9,570$7,475$5,448
22 years$18,150$14,338$11,218$8,701$6,701$4,794
23 years$17,177$13,410$10,357$7,925$6,015$4,223
24 years$16,287$12,565$9,579$7,228$5,406$3,724
25 years$15,469$11,791$8,872$6,601$4,865$3,287
26 years$14,715$11,082$8,228$6,035$4,382$2,904
27 years$14,018$10,429$7,641$5,524$3,951$2,568
28 years$13,373$9,828$7,103$5,061$3,565$2,271
29 years$12,773$9,271$6,610$4,641$3,219$2,010
30 years$12,213$8,756$6,157$4,260$2,909$1,780
31 years$11,691$8,277$5,740$3,912$2,630$1,577
32 years$11,203$7,832$5,355$3,595$2,379$1,398
33 years$10,745$7,417$5,000$3,306$2,153$1,239
34 years$10,315$7,029$4,672$3,042$1,949$1,099
35 years$9,911$6,667$4,368$2,800$1,765$975
36 years$9,529$6,328$4,086$2,579$1,599$865
37 years$9,170$6,010$3,825$2,376$1,450$768
38 years$8,830$5,712$3,582$2,190$1,314$681
39 years$8,508$5,432$3,356$2,020$1,192$605
40 years$8,203$5,168$3,145$1,863$1,081$537
41 years$7,914$4,919$2,949$1,719$981$477
42 years$7,639$4,685$2,766$1,586$890$424
43 years$7,378$4,464$2,596$1,464$808$376
44 years$7,129$4,255$2,437$1,352$733$334
45 years$6,892$4,057$2,288$1,248$666$297
46 years$6,666$3,871$2,149$1,153$604$264
47 years$6,450$3,694$2,019$1,065$549$234
48 years$6,244$3,526$1,897$985$498$208
49 years$6,047$3,367$1,783$910$453$185
50 years$5,858$3,217$1,677$841$411$164

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,000,000, adding $5,712 every year, while hoping to spend $49,073 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: 71/8/21 Blend
57$6,000,000$6,000,000$6,000,000$6,000,000
58$6,617,892$6,299,892$6,206,892$7,053,279
59$7,240,704$6,556,373$6,362,610$7,600,744
60$7,925,397$6,823,778$6,521,899$8,193,612
61$8,678,233$7,102,588$6,684,828$8,841,546
62$9,506,109$7,393,311$6,851,465$9,550,002
63$10,416,622$7,696,473$7,021,880$10,324,983
64$11,418,146$8,012,629$7,196,141$11,173,104
65$12,519,905$8,342,355$7,374,320$12,101,643
66$13,732,062$8,686,258$7,556,486$13,118,621
67$15,065,815$9,044,967$7,742,712$14,232,868
68$16,533,504$9,419,146$7,933,068$15,454,107
69$18,148,722$9,809,485$8,127,627$16,793,051
70$19,926,450$10,216,709$8,326,461$18,261,496
71$21,883,193$10,641,572$8,529,642$19,872,436
72$24,037,138$11,084,868$8,737,244$21,640,182
73$26,408,323$11,547,423$8,949,338$23,580,500
74$29,018,830$12,030,105$9,165,999$25,710,754
75$31,892,990$12,533,820$9,387,300$28,050,074
76$35,057,612$13,059,515$9,613,312$30,619,532
77$38,542,240$13,608,182$9,844,109$33,442,342
78$42,379,425$14,180,860$10,079,763$36,544,077
79$46,605,039$14,778,634$10,320,347$39,952,909
80$51,258,606$15,402,641$10,565,933$43,699,875
81$56,383,683$16,054,069$10,816,591$47,819,170
82$62,028,264$16,734,164$11,072,392$52,348,466
83$68,245,236$17,444,226$11,333,405$57,329,266
84$75,092,876$18,185,620$11,599,701$62,807,299
85$82,635,405$18,959,770$11,871,346$68,832,945
86$90,943,587$19,768,170$12,148,407$75,461,713
87$100,095,405$20,612,382$12,430,951$82,754,763
88$110,176,788$21,494,041$12,719,039$90,779,480
89$121,282,430$22,414,858$13,012,736$99,610,111
90$133,516,676$23,376,625$13,312,102$109,328,462
91$146,994,514$24,381,217$13,617,194$120,024,672
92$161,842,655$25,430,597$13,928,070$131,798,059
93$178,200,729$26,526,819$14,244,784$144,758,057
94$196,222,605$27,672,035$14,567,386$159,025,250
95$216,077,842$28,868,497$14,895,925$174,732,503
96$237,953,291$30,118,562$15,230,448$192,026,218
97$262,054,854$31,424,699$15,570,995$211,067,717
98$288,609,432$32,789,492$15,917,606$232,034,756
99$317,867,064$34,215,646$16,270,315$255,123,205
100$350,103,287$35,705,996$16,629,154$280,548,895