Can I retire at age 58 with 6,100,000?

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 $6,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$503,732$499,245$494,868$490,595$486,423$471,229
2 years$249,372$244,728$240,227$235,863$231,630$216,458
3 years$164,597$159,933$155,443$151,120$146,955$132,281
4 years$122,217$117,567$113,123$108,873$104,810$90,746
5 years$96,796$92,174$87,788$83,625$79,675$66,258
6 years$79,855$75,267$70,946$66,876$63,044$50,287
7 years$67,758$63,209$58,956$54,982$51,272$39,173
8 years$58,690$54,182$49,999$46,123$42,535$31,086
9 years$51,640$47,175$43,064$39,287$35,820$25,010
10 years$46,004$41,583$37,545$33,866$30,521$20,332
11 years$41,396$37,019$33,054$29,473$26,249$16,664
12 years$37,558$33,226$29,334$25,852$22,747$13,745
13 years$34,313$30,026$26,208$22,823$19,836$11,395
14 years$31,535$27,293$23,548$20,260$17,388$9,487
15 years$29,129$24,933$21,261$18,068$15,310$7,925
16 years$27,025$22,875$19,276$16,178$13,531$6,638
17 years$25,171$21,067$17,540$14,536$11,997$5,573
18 years$23,525$19,467$16,012$13,100$10,667$4,688
19 years$22,054$18,042$14,658$11,837$9,508$3,950
20 years$20,732$16,766$13,453$10,721$8,493$3,332
21 years$19,537$15,616$12,374$9,730$7,600$2,814
22 years$18,452$14,577$11,405$8,846$6,812$2,379
23 years$17,463$13,634$10,530$8,057$6,115$2,012
24 years$16,558$12,774$9,739$7,348$5,496$1,704
25 years$15,727$11,988$9,020$6,711$4,946$1,443
26 years$14,960$11,267$8,365$6,136$4,455$1,223
27 years$14,252$10,603$7,768$5,616$4,017$1,037
28 years$13,596$9,991$7,221$5,146$3,624$879
29 years$12,985$9,426$6,720$4,719$3,273$746
30 years$12,417$8,902$6,260$4,331$2,957$633
31 years$11,886$8,415$5,836$3,977$2,673$537
32 years$11,390$7,962$5,445$3,655$2,418$456
33 years$10,924$7,540$5,084$3,361$2,189$387
34 years$10,487$7,147$4,750$3,093$1,982$328
35 years$10,076$6,778$4,441$2,847$1,795$279
36 years$9,688$6,434$4,154$2,622$1,626$237
37 years$9,322$6,111$3,888$2,416$1,474$201
38 years$8,977$5,807$3,641$2,227$1,336$171
39 years$8,650$5,522$3,412$2,053$1,212$145
40 years$8,340$5,254$3,198$1,894$1,099$123
41 years$8,046$5,001$2,998$1,747$997$105
42 years$7,766$4,763$2,813$1,613$905$89
43 years$7,501$4,538$2,639$1,489$821$76
44 years$7,248$4,326$2,477$1,374$745$64
45 years$7,007$4,125$2,326$1,269$677$55
46 years$6,777$3,935$2,185$1,172$614$46
47 years$6,558$3,755$2,053$1,083$558$39
48 years$6,348$3,585$1,929$1,001$507$33
49 years$6,148$3,423$1,813$925$460$28
50 years$5,956$3,270$1,704$855$418$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,100,000, adding $2,392 every year, while hoping to spend $52,574 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: 66/26/8 Blend
57$6,100,000$6,100,000$6,100,000$6,100,000
58$6,724,667$6,401,367$6,306,817$7,158,137
59$7,354,645$6,659,096$6,462,157$7,704,302
60$8,047,119$6,927,691$6,620,939$8,294,482
61$8,808,407$7,207,630$6,783,223$8,938,101
62$9,645,471$7,499,411$6,949,068$9,640,362
63$10,565,983$7,803,556$7,118,535$10,406,993
64$11,578,392$8,120,609$7,291,685$11,244,292
65$12,692,009$8,451,140$7,468,577$12,159,192
66$13,917,092$8,795,744$7,649,273$13,159,323
67$15,264,944$9,155,045$7,833,833$14,253,079
68$16,748,020$9,529,693$8,022,317$15,449,702
69$18,380,039$9,920,369$8,214,786$16,759,362
70$20,176,122$10,327,786$8,411,300$18,193,254
71$22,152,927$10,752,688$8,611,919$19,763,704
72$24,328,809$11,195,853$8,816,702$21,484,278
73$26,723,995$11,658,097$9,025,709$23,369,916
74$29,360,769$12,140,270$9,238,997$25,437,062
75$32,263,688$12,643,264$9,456,624$27,703,825
76$35,459,811$13,168,011$9,678,647$30,190,145
77$38,978,953$13,715,485$9,905,123$32,917,977
78$42,853,968$14,286,705$10,136,107$35,911,500
79$47,121,058$14,882,739$10,371,652$39,197,340
80$51,820,115$15,504,702$10,611,811$42,804,820
81$56,995,096$16,153,762$10,856,636$46,766,234
82$62,694,438$16,831,140$11,106,176$51,117,148
83$68,971,518$17,538,113$11,360,481$55,896,737
84$75,885,151$18,276,018$11,619,595$61,148,147
85$83,500,149$19,046,255$11,883,563$66,918,903
86$91,887,929$19,850,287$12,152,428$73,261,352
87$101,127,193$20,689,646$12,426,229$80,233,154
88$111,304,662$21,565,934$12,705,003$87,897,826
89$122,515,901$22,480,829$12,988,784$96,325,335
90$134,866,219$23,436,085$13,277,605$105,592,754
91$148,471,661$24,433,541$13,571,492$115,784,990
92$163,460,105$25,475,119$13,870,471$126,995,577
93$179,972,466$26,562,830$14,174,562$139,327,558
94$198,164,030$27,698,781$14,483,782$152,894,451
95$218,205,916$28,885,176$14,798,144$167,821,316
96$240,286,693$30,124,323$15,117,656$184,245,934
97$264,614,158$31,418,638$15,442,320$202,320,100
98$291,417,298$32,770,647$15,772,134$222,211,050
99$320,948,453$34,182,999$16,107,090$244,103,037
100$353,485,693$35,658,464$16,447,175$268,199,063