Can I retire at age 58 with 6,700,000?

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$553,280$548,351$543,543$538,850$534,267$525,416
2 years$273,901$268,800$263,856$259,063$254,413$245,522
3 years$180,787$175,664$170,732$165,984$161,410$152,755
4 years$134,239$129,131$124,249$119,582$115,119$106,767
5 years$106,317$101,241$96,423$91,850$87,512$79,487
6 years$87,709$82,671$77,924$73,454$69,245$61,556
7 years$74,423$69,427$64,755$60,390$56,315$48,965
8 years$64,463$59,511$54,917$50,660$46,718$39,706
9 years$56,720$51,815$47,300$43,151$39,344$32,664
10 years$50,529$45,673$41,238$37,197$33,523$27,171
11 years$45,467$40,660$36,305$32,372$28,831$22,800
12 years$41,252$36,494$32,220$28,395$24,984$19,267
13 years$37,689$32,980$28,786$25,068$21,787$16,374
14 years$34,636$29,978$25,864$22,253$19,098$13,981
15 years$31,994$27,385$23,352$19,846$16,815$11,984
16 years$29,684$25,125$21,172$17,770$14,862$10,306
17 years$27,647$23,140$19,266$15,966$13,177$8,888
18 years$25,839$21,382$17,587$14,388$11,717$7,682
19 years$24,224$19,817$16,100$13,001$10,443$6,653
20 years$22,771$18,415$14,776$11,775$9,328$5,772
21 years$21,459$17,152$13,591$10,687$8,348$5,015
22 years$20,267$16,011$12,526$9,717$7,482$4,363
23 years$19,181$14,975$11,566$8,849$6,717$3,799
24 years$18,187$14,031$10,696$8,071$6,037$3,312
25 years$17,274$13,167$9,907$7,371$5,432$2,889
26 years$16,432$12,375$9,188$6,739$4,893$2,522
27 years$15,654$11,646$8,532$6,169$4,412$2,203
28 years$14,933$10,974$7,932$5,652$3,981$1,925
29 years$14,263$10,353$7,381$5,183$3,595$1,684
30 years$13,638$9,777$6,875$4,757$3,248$1,473
31 years$13,055$9,243$6,410$4,369$2,936$1,289
32 years$12,510$8,745$5,980$4,015$2,656$1,128
33 years$11,999$8,282$5,584$3,692$2,404$988
34 years$11,519$7,850$5,217$3,397$2,176$865
35 years$11,067$7,445$4,878$3,127$1,971$758
36 years$10,641$7,067$4,563$2,880$1,786$664
37 years$10,239$6,712$4,271$2,654$1,619$582
38 years$9,860$6,378$3,999$2,446$1,468$510
39 years$9,500$6,065$3,747$2,255$1,331$447
40 years$9,160$5,771$3,512$2,080$1,207$392
41 years$8,837$5,493$3,293$1,919$1,095$343
42 years$8,530$5,231$3,089$1,771$994$301
43 years$8,238$4,984$2,899$1,635$902$264
44 years$7,961$4,751$2,721$1,510$819$231
45 years$7,696$4,531$2,555$1,394$743$203
46 years$7,444$4,322$2,400$1,288$675$178
47 years$7,203$4,125$2,254$1,190$613$156
48 years$6,972$3,938$2,119$1,099$556$137
49 years$6,752$3,760$1,991$1,016$505$120
50 years$6,542$3,592$1,872$939$459$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $6,700,000, adding $3,737 every year, while hoping to spend $26,068 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: 76/15/9 Blend
57$6,700,000$6,700,000$6,700,000$6,700,000
58$7,387,255$7,032,155$6,928,305$7,937,581
59$8,113,019$7,348,994$7,132,667$8,617,062
60$8,911,937$7,680,485$7,343,001$9,357,973
61$9,791,443$8,027,318$7,559,481$10,169,367
62$10,759,730$8,390,216$7,782,283$11,058,233
63$11,825,823$8,769,937$8,011,590$12,032,270
64$12,999,668$9,167,275$8,247,589$13,099,948
65$14,292,225$9,583,063$8,490,475$14,270,597
66$15,715,571$10,018,171$8,740,444$15,554,485
67$17,283,012$10,473,515$8,997,702$16,962,921
68$19,009,213$10,950,051$9,262,459$18,508,357
69$20,910,331$11,448,782$9,534,930$20,204,502
70$23,004,172$11,970,759$9,815,337$22,066,456
71$25,310,356$12,517,085$10,103,909$24,110,844
72$27,850,503$13,088,913$10,400,881$26,355,980
73$30,648,437$13,687,452$10,706,493$28,822,027
74$33,730,412$14,313,972$11,020,995$31,531,198
75$37,125,357$14,969,800$11,344,642$34,507,953
76$40,865,152$15,656,328$11,677,695$37,779,236
77$44,984,925$16,375,016$12,020,426$41,374,723
78$49,523,389$17,127,392$12,373,111$45,327,103
79$54,523,200$17,915,061$12,736,036$49,672,381
80$60,031,368$18,739,700$13,109,495$54,450,218
81$66,099,693$19,603,071$13,493,789$59,704,306
82$72,785,259$20,507,019$13,889,228$65,482,771
83$80,150,970$21,453,477$14,296,131$71,838,631
84$88,266,144$22,444,472$14,714,827$78,830,291
85$97,207,168$23,482,129$15,145,651$86,522,093
86$107,058,221$24,568,674$15,588,952$94,984,920
87$117,912,062$25,706,442$16,045,084$104,296,861
88$129,870,912$26,897,878$16,514,415$114,543,948
89$143,047,418$28,145,547$16,997,320$125,820,962
90$157,565,712$29,452,136$17,494,188$138,232,326
91$173,562,588$30,820,464$18,005,416$151,893,088
92$191,188,787$32,253,482$18,531,413$166,930,001
93$210,610,427$33,754,286$19,072,599$183,482,717
94$232,010,567$35,326,122$19,629,407$201,705,102
95$255,590,934$36,972,392$20,202,282$221,766,685
96$281,573,830$38,696,660$20,791,679$243,854,251
97$310,204,229$40,502,664$21,398,069$268,173,603
98$341,752,090$42,394,324$22,021,933$294,951,498
99$376,514,904$44,375,747$22,663,769$324,437,785
100$414,820,504$46,451,238$23,324,085$356,907,754