Can I retire at age 58 with 6,500,000?

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 $6,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$536,764$531,983$527,318$522,765$518,319$514,191
2 years$265,725$260,776$255,980$251,329$246,819$242,657
3 years$175,390$170,420$165,636$161,029$156,592$152,526
4 years$130,232$125,277$120,540$116,012$111,683$107,744
5 years$103,144$98,218$93,544$89,109$84,899$81,100
6 years$85,091$80,203$75,598$71,261$67,178$63,522
7 years$72,201$67,354$62,822$58,588$54,634$51,123
8 years$62,538$57,735$53,278$49,148$45,324$41,958
9 years$55,027$50,269$45,888$41,863$38,169$34,948
10 years$49,021$44,309$40,007$36,086$32,522$29,443
11 years$44,110$39,446$35,221$31,406$27,970$25,031
12 years$40,021$35,405$31,258$27,547$24,238$21,436
13 years$36,563$31,995$27,927$24,320$21,136$18,469
14 years$33,602$29,083$25,092$21,589$18,528$15,991
15 years$31,039$26,568$22,655$19,253$16,313$13,904
16 years$28,797$24,375$20,540$17,239$14,418$12,132
17 years$26,822$22,449$18,691$15,489$12,784$10,618
18 years$25,068$20,744$17,062$13,959$11,367$9,317
19 years$23,500$19,225$15,620$12,613$10,132$8,194
20 years$22,091$17,865$14,335$11,424$9,050$7,219
21 years$20,818$16,640$13,185$10,368$8,098$6,372
22 years$19,662$15,533$12,152$9,427$7,259$5,632
23 years$18,609$14,528$11,221$8,585$6,516$4,984
24 years$17,644$13,612$10,377$7,830$5,857$4,416
25 years$16,758$12,774$9,611$7,151$5,270$3,916
26 years$15,941$12,005$8,914$6,538$4,747$3,476
27 years$15,187$11,299$8,277$5,985$4,280$3,088
28 years$14,487$10,647$7,695$5,483$3,862$2,745
29 years$13,837$10,044$7,161$5,028$3,487$2,441
30 years$13,231$9,485$6,670$4,615$3,151$2,172
31 years$12,666$8,967$6,218$4,238$2,849$1,934
32 years$12,137$8,484$5,802$3,895$2,577$1,723
33 years$11,641$8,035$5,417$3,582$2,332$1,535
34 years$11,175$7,615$5,061$3,296$2,111$1,368
35 years$10,736$7,223$4,732$3,034$1,912$1,220
36 years$10,324$6,856$4,427$2,794$1,733$1,088
37 years$9,934$6,511$4,143$2,574$1,570$970
38 years$9,565$6,188$3,880$2,373$1,424$865
39 years$9,217$5,884$3,635$2,188$1,291$772
40 years$8,887$5,598$3,407$2,018$1,171$689
41 years$8,573$5,329$3,195$1,862$1,062$615
42 years$8,275$5,075$2,997$1,718$964$549
43 years$7,992$4,836$2,812$1,586$875$490
44 years$7,723$4,609$2,640$1,465$794$438
45 years$7,466$4,395$2,479$1,353$721$391
46 years$7,221$4,193$2,328$1,249$655$349
47 years$6,988$4,002$2,187$1,154$594$312
48 years$6,764$3,820$2,055$1,067$540$278
49 years$6,551$3,648$1,932$986$490$249
50 years$6,346$3,485$1,816$911$445$222

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,500,000, adding $2,221 every year, while hoping to spend $38,942 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: 45/40/15 Blend
57$6,500,000$6,500,000$6,500,000$6,500,000
58$7,165,291$6,820,791$6,720,041$7,456,884
59$7,854,717$7,113,576$6,903,728$7,953,183
60$8,613,159$7,419,402$7,092,264$8,486,939
61$9,447,615$7,738,867$7,285,769$9,064,887
62$10,365,798$8,072,597$7,484,369$9,691,132
63$11,376,203$8,421,248$7,688,188$10,370,184
64$12,488,191$8,785,505$7,897,359$11,106,992
65$13,712,079$9,166,087$8,112,012$11,906,994
66$15,059,230$9,563,745$8,332,284$12,776,163
67$16,542,170$9,979,266$8,558,314$13,721,060
68$18,174,697$10,413,475$8,790,242$14,748,897
69$19,972,015$10,867,236$9,028,215$15,867,598
70$21,950,881$11,341,450$9,272,381$17,085,876
71$24,129,755$11,837,066$9,522,890$18,413,304
72$26,528,981$12,355,073$9,779,897$19,860,412
73$29,170,975$12,896,509$10,043,561$21,438,776
74$32,080,437$13,462,460$10,314,043$23,161,125
75$35,284,586$14,054,065$10,591,508$25,041,460
76$38,813,414$14,672,515$10,876,124$27,095,181
77$42,699,971$15,319,057$11,168,064$29,339,228
78$46,980,677$15,995,000$11,467,502$31,792,237
79$51,695,661$16,701,710$11,774,619$34,474,710
80$56,889,148$17,440,622$12,089,597$37,409,208
81$62,609,866$18,213,238$12,412,624$40,620,556
82$68,911,515$19,021,130$12,743,890$44,136,072
83$75,853,269$19,865,945$13,083,590$47,985,822
84$83,500,335$20,749,408$13,431,922$52,202,897
85$91,924,567$21,673,328$13,789,090$56,823,720
86$101,205,148$22,639,595$14,155,299$61,888,383
87$111,429,333$23,650,195$14,530,761$67,441,023
88$122,693,274$24,707,204$14,915,691$73,530,225
89$135,102,929$25,812,798$15,310,308$80,209,482
90$148,775,059$26,969,256$15,714,834$87,537,687
91$163,838,333$28,178,968$16,129,499$95,579,683
92$180,434,540$29,444,434$16,554,534$104,406,871
93$198,719,927$30,768,276$16,990,176$114,097,871
94$218,866,678$32,153,240$17,436,665$124,739,256
95$241,064,533$33,602,203$17,894,247$136,426,367
96$265,522,583$35,118,178$18,363,172$149,264,193
97$292,471,243$36,704,325$18,843,694$163,368,363
98$322,164,424$38,363,951$19,336,072$178,866,221
99$354,881,935$40,100,524$19,840,571$195,898,019
100$390,932,119$41,917,677$20,357,457$214,618,232