Can I retire at age 58 with 6,300,000?

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$520,248$515,614$511,093$506,680$502,371$485,125
2 years$257,549$252,752$248,103$243,596$239,224$222,025
3 years$169,994$165,176$160,539$156,074$151,774$135,162
4 years$126,225$121,422$116,831$112,443$108,246$92,348
5 years$99,970$95,196$90,666$86,367$82,287$67,145
6 years$82,473$77,735$73,272$69,068$65,111$50,736
7 years$69,980$65,282$60,889$56,785$52,953$39,343
8 years$60,614$55,958$51,639$47,635$43,929$31,074
9 years$53,333$48,722$44,476$40,575$36,995$24,878
10 years$47,512$42,946$38,776$34,976$31,521$20,123
11 years$42,753$38,232$34,137$30,439$27,110$16,407
12 years$38,789$34,315$30,296$26,700$23,493$13,462
13 years$35,438$31,011$27,068$23,572$20,486$11,100
14 years$32,569$28,188$24,320$20,924$17,958$9,190
15 years$30,084$25,750$21,958$18,661$15,812$7,633
16 years$27,911$23,625$19,908$16,709$13,974$6,357
17 years$25,997$21,758$18,116$15,013$12,391$5,306
18 years$24,297$20,106$16,537$13,529$11,017$4,437
19 years$22,777$18,634$15,139$12,225$9,820$3,715
20 years$21,412$17,315$13,894$11,072$8,771$3,115
21 years$20,178$16,128$12,780$10,049$7,849$2,615
22 years$19,057$15,055$11,778$9,136$7,036$2,196
23 years$18,036$14,081$10,875$8,321$6,316$1,846
24 years$17,101$13,193$10,058$7,589$5,677$1,553
25 years$16,242$12,381$9,316$6,931$5,108$1,307
26 years$15,451$11,636$8,640$6,337$4,601$1,101
27 years$14,719$10,951$8,023$5,801$4,148$927
28 years$14,041$10,319$7,458$5,315$3,743$781
29 years$13,411$9,735$6,940$4,874$3,380$658
30 years$12,824$9,193$6,465$4,473$3,054$555
31 years$12,276$8,691$6,027$4,108$2,761$468
32 years$11,763$8,223$5,623$3,775$2,498$394
33 years$11,282$7,788$5,250$3,472$2,260$333
34 years$10,831$7,381$4,906$3,194$2,047$281
35 years$10,406$7,001$4,586$2,940$1,854$237
36 years$10,006$6,645$4,291$2,708$1,679$200
37 years$9,628$6,311$4,016$2,495$1,522$168
38 years$9,271$5,998$3,761$2,300$1,380$142
39 years$8,933$5,703$3,523$2,121$1,251$120
40 years$8,613$5,426$3,302$1,956$1,135$101
41 years$8,309$5,165$3,097$1,805$1,030$85
42 years$8,021$4,919$2,905$1,665$934$72
43 years$7,746$4,687$2,726$1,537$848$61
44 years$7,485$4,468$2,559$1,419$770$51
45 years$7,236$4,260$2,402$1,311$699$43
46 years$6,999$4,064$2,256$1,211$634$36
47 years$6,773$3,878$2,120$1,119$576$31
48 years$6,556$3,702$1,992$1,034$523$26
49 years$6,349$3,536$1,872$955$475$22
50 years$6,151$3,377$1,760$883$432$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,300,000, adding $2,868 every year, while hoping to spend $38,432 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: 35/46/19 Blend
57$6,300,000$6,300,000$6,300,000$6,300,000
58$6,945,558$6,611,658$6,514,008$7,148,224
59$7,613,114$6,894,738$6,691,336$7,579,951
60$8,347,472$7,190,401$6,873,317$8,041,680
61$9,155,406$7,499,223$7,060,065$8,539,075
62$10,044,379$7,821,806$7,251,698$9,075,330
63$11,022,613$8,158,782$7,448,338$9,653,944
64$12,099,170$8,510,812$7,650,107$10,278,755
65$13,284,030$8,878,587$7,857,131$10,953,971
66$14,588,195$9,262,832$8,069,538$11,684,211
67$16,023,785$9,664,304$8,287,461$12,474,540
68$17,604,153$10,083,798$8,511,034$13,330,519
69$19,344,017$10,522,144$8,740,394$14,258,252
70$21,259,590$10,980,212$8,975,680$15,264,441
71$23,368,740$11,458,914$9,217,037$16,356,444
72$25,691,154$11,959,204$9,464,611$17,542,344
73$28,248,527$12,482,080$9,718,550$18,831,021
74$31,064,763$13,028,588$9,979,008$20,232,229
75$34,166,205$13,599,825$10,246,141$21,756,687
76$37,581,878$14,196,936$10,520,106$23,416,176
77$41,343,767$14,821,124$10,801,068$25,223,644
78$45,487,117$15,473,645$11,089,190$27,193,325
79$50,050,768$16,155,818$11,384,642$29,340,867
80$55,077,516$16,869,023$11,687,597$31,683,478
81$60,614,521$17,614,704$11,998,231$34,240,079
82$66,713,753$18,394,375$12,316,722$37,031,480
83$73,432,477$19,209,621$12,643,254$40,080,571
84$80,833,801$20,062,103$12,978,013$43,412,528
85$88,987,262$20,953,559$13,321,190$47,055,050
86$97,969,491$21,885,812$13,672,978$51,038,610
87$107,864,932$22,860,770$14,033,576$55,396,739
88$118,766,638$23,880,431$14,403,184$60,166,330
89$130,777,152$24,946,888$14,782,007$65,387,986
90$144,009,472$26,062,337$15,170,255$71,106,390
91$158,588,120$27,229,073$15,568,141$77,370,720
92$174,650,315$28,449,504$15,975,880$84,235,106
93$192,347,269$29,726,153$16,393,695$91,759,131
94$211,845,616$31,061,659$16,821,808$100,008,383
95$233,328,980$32,458,791$17,260,450$109,055,069
96$256,999,713$33,920,449$17,709,852$118,978,681
97$283,080,803$35,449,671$18,170,251$129,866,736
98$311,817,978$37,049,638$18,641,888$141,815,596
99$343,482,028$38,723,686$19,125,007$154,931,362
100$378,371,357$40,475,309$19,619,857$169,330,863