Can I retire at age 58 with 6,400,000?

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 $6,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$528,506$523,798$519,205$514,722$510,345$503,968
2 years$261,637$256,764$252,041$247,463$243,021$236,605
3 years$172,692$167,798$163,088$158,552$154,183$147,926
4 years$128,228$123,349$118,686$114,228$109,964$103,915
5 years$101,557$96,707$92,105$87,738$83,593$77,770
6 years$83,782$78,969$74,435$70,165$66,144$60,553
7 years$71,090$66,318$61,856$57,686$53,793$48,437
8 years$61,576$56,847$52,458$48,392$44,627$39,504
9 years$54,180$49,495$45,182$41,219$37,582$32,692
10 years$48,267$43,628$39,391$35,531$32,022$27,360
11 years$43,432$38,839$34,679$30,923$27,540$23,103
12 years$39,405$34,860$30,777$27,123$23,865$19,648
13 years$36,001$31,503$27,497$23,946$20,811$16,807
14 years$33,086$28,636$24,706$21,256$18,243$14,447
15 years$30,561$26,159$22,306$18,957$16,062$12,469
16 years$28,354$24,000$20,224$16,974$14,196$10,798
17 years$26,409$22,104$18,403$15,251$12,587$9,378
18 years$24,682$20,425$16,800$13,744$11,192$8,165
19 years$23,139$18,929$15,379$12,419$9,976$7,123
20 years$21,752$17,590$14,114$11,248$8,910$6,226
21 years$20,498$16,384$12,982$10,208$7,974$5,450
22 years$19,360$15,294$11,965$9,282$7,147$4,777
23 years$18,322$14,304$11,048$8,453$6,416$4,193
24 years$17,373$13,402$10,217$7,709$5,767$3,683
25 years$16,500$12,577$9,463$7,041$5,189$3,238
26 years$15,696$11,821$8,777$6,438$4,674$2,850
27 years$14,953$11,125$8,150$5,893$4,214$2,509
28 years$14,264$10,483$7,577$5,399$3,803$2,211
29 years$13,624$9,889$7,051$4,951$3,434$1,949
30 years$13,028$9,339$6,567$4,544$3,103$1,719
31 years$12,471$8,829$6,123$4,173$2,805$1,517
32 years$11,950$8,354$5,712$3,835$2,537$1,339
33 years$11,461$7,911$5,334$3,527$2,296$1,182
34 years$11,003$7,498$4,984$3,245$2,079$1,044
35 years$10,571$7,112$4,659$2,987$1,883$922
36 years$10,165$6,750$4,359$2,751$1,706$814
37 years$9,781$6,411$4,080$2,535$1,546$720
38 years$9,418$6,093$3,820$2,336$1,402$636
39 years$9,075$5,794$3,579$2,154$1,271$562
40 years$8,750$5,512$3,355$1,987$1,153$497
41 years$8,441$5,247$3,146$1,833$1,046$440
42 years$8,148$4,997$2,951$1,692$949$389
43 years$7,869$4,761$2,769$1,562$861$344
44 years$7,604$4,538$2,599$1,442$782$304
45 years$7,351$4,328$2,441$1,332$710$269
46 years$7,110$4,129$2,292$1,230$645$238
47 years$6,880$3,940$2,153$1,137$585$210
48 years$6,660$3,761$2,024$1,050$532$186
49 years$6,450$3,592$1,902$971$483$165
50 years$6,249$3,431$1,788$897$438$146

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,400,000, adding $2,609 every year, while hoping to spend $48,980 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: 47/46/7 Blend
57$6,400,000$6,400,000$6,400,000$6,400,000
58$7,055,491$6,716,291$6,617,091$7,373,718
59$7,723,037$6,993,275$6,786,649$7,869,380
60$8,457,031$7,282,190$6,960,246$8,401,636
61$9,264,199$7,583,568$7,137,965$8,978,108
62$10,151,951$7,897,967$7,319,891$9,602,909
63$11,128,452$8,225,969$7,506,110$10,280,556
64$12,202,699$8,568,186$7,696,709$11,016,008
65$13,384,601$8,925,254$7,891,775$11,814,714
66$14,685,080$9,297,841$8,091,400$12,682,658
67$16,116,168$9,686,645$8,295,671$13,626,416
68$17,691,123$10,092,397$8,504,683$14,653,214
69$19,424,554$10,515,861$8,718,526$15,770,994
70$21,332,556$10,957,835$8,937,294$16,988,485
71$23,432,865$11,419,158$9,161,081$18,315,283
72$25,745,024$11,900,703$9,389,984$19,761,941
73$28,290,566$12,403,388$9,624,099$21,340,061
74$31,093,220$12,928,169$9,863,522$23,062,401
75$34,179,130$13,476,051$10,108,351$24,942,995
76$37,577,107$14,048,083$10,358,687$26,997,278
77$41,318,896$14,645,363$10,614,627$29,242,230
78$45,439,478$15,269,041$10,876,272$31,696,532
79$49,977,401$15,920,320$11,143,723$34,380,736
80$54,975,140$16,600,460$11,417,081$37,317,458
81$60,479,499$17,310,777$11,696,448$40,531,582
82$66,542,055$18,052,652$11,981,926$44,050,496
83$73,219,641$18,827,529$12,273,618$47,904,341
84$80,574,886$19,636,919$12,571,625$52,126,290
85$88,676,801$20,482,405$12,876,052$56,752,860
86$97,601,434$21,365,643$13,186,999$61,824,246
87$107,432,588$22,288,367$13,504,571$67,384,696
88$118,262,608$23,252,392$13,828,870$73,482,923
89$130,193,253$24,259,619$14,159,997$80,172,558
90$143,336,663$25,312,038$14,498,054$87,512,650
91$157,816,407$26,411,732$14,843,143$95,568,213
92$173,768,655$27,560,882$15,195,364$104,410,836
93$191,343,465$28,761,773$15,554,816$114,119,347
94$210,706,194$30,016,794$15,921,597$124,780,555
95$232,039,060$31,328,452$16,295,804$136,490,053
96$255,542,864$32,699,366$16,677,534$149,353,116
97$281,438,885$34,132,284$17,066,881$163,485,685
98$309,970,966$35,630,080$17,463,936$179,015,451
99$341,407,816$37,195,766$17,868,789$196,083,049
100$376,045,549$38,832,494$18,281,529$214,843,376