Can I retire at age 58 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$602,827$597,458$592,219$587,105$582,112$563,028
2 years$298,429$292,871$287,485$282,262$277,196$258,151
3 years$196,977$191,395$186,022$180,848$175,865$157,457
4 years$146,260$140,695$135,376$130,291$125,428$107,798
5 years$115,838$110,307$105,057$100,076$95,349$78,544
6 years$95,564$90,074$84,902$80,031$75,446$59,480
7 years$81,087$75,644$70,554$65,798$61,358$46,229
8 years$70,235$64,841$59,835$55,197$50,902$36,599
9 years$61,799$56,456$51,536$47,015$42,867$29,373
10 years$55,054$49,763$44,930$40,528$36,525$23,819
11 years$49,539$44,301$39,556$35,271$31,413$19,471
12 years$44,947$39,762$35,105$30,938$27,221$16,018
13 years$41,064$35,933$31,364$27,313$23,738$13,244
14 years$37,738$32,662$28,181$24,246$20,808$10,995
15 years$34,859$29,838$25,443$21,623$18,321$9,159
16 years$32,342$27,376$23,068$19,361$16,192$7,650
17 years$30,123$25,212$20,991$17,396$14,357$6,404
18 years$28,153$23,297$19,162$15,677$12,766$5,370
19 years$26,393$21,591$17,542$14,165$11,378$4,511
20 years$24,810$20,064$16,099$12,830$10,163$3,794
21 years$23,381$18,689$14,808$11,644$9,095$3,194
22 years$22,082$17,445$13,648$10,587$8,153$2,692
23 years$20,899$16,316$12,602$9,642$7,318$2,270
24 years$19,816$15,287$11,654$8,794$6,578$1,916
25 years$18,821$14,346$10,794$8,031$5,919$1,617
26 years$17,904$13,483$10,011$7,343$5,332$1,366
27 years$17,056$12,689$9,296$6,721$4,807$1,154
28 years$16,270$11,957$8,642$6,158$4,337$976
29 years$15,540$11,280$8,042$5,647$3,916$825
30 years$14,860$10,653$7,491$5,183$3,539$698
31 years$14,225$10,070$6,984$4,760$3,199$590
32 years$13,630$9,529$6,516$4,374$2,894$499
33 years$13,073$9,024$6,084$4,023$2,619$422
34 years$12,550$8,552$5,684$3,701$2,371$357
35 years$12,058$8,112$5,314$3,407$2,148$303
36 years$11,594$7,699$4,972$3,138$1,946$256
37 years$11,156$7,313$4,653$2,891$1,764$217
38 years$10,743$6,950$4,358$2,665$1,599$183
39 years$10,351$6,608$4,083$2,457$1,450$155
40 years$9,980$6,287$3,827$2,266$1,315$131
41 years$9,628$5,985$3,588$2,091$1,193$111
42 years$9,294$5,700$3,366$1,930$1,083$94
43 years$8,976$5,431$3,158$1,781$983$80
44 years$8,673$5,177$2,965$1,645$892$68
45 years$8,385$4,936$2,784$1,519$810$57
46 years$8,110$4,709$2,615$1,403$735$48
47 years$7,848$4,494$2,456$1,296$668$41
48 years$7,597$4,290$2,308$1,198$606$35
49 years$7,357$4,097$2,170$1,107$551$29
50 years$7,127$3,913$2,040$1,023$500$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,300,000, adding $6,045 every year, while hoping to spend $26,343 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: 64/14/22 Blend
57$7,300,000$7,300,000$7,300,000$7,300,000
58$8,050,835$7,663,935$7,550,785$8,519,945
59$8,843,992$8,011,440$7,775,708$9,184,242
60$9,717,167$8,375,088$8,007,283$9,906,204
61$10,678,496$8,755,645$8,245,704$10,694,381
62$11,736,941$9,153,910$8,491,173$11,555,257
63$12,902,378$9,570,721$8,743,897$12,495,968
64$14,185,690$10,006,956$9,004,087$13,524,367
65$15,598,870$10,463,536$9,271,963$14,649,096
66$17,155,129$10,941,424$9,547,749$15,879,668
67$18,869,031$11,441,632$9,831,677$17,226,553
68$20,756,619$11,965,219$10,123,985$18,701,277
69$22,835,573$12,513,294$10,424,918$20,316,528
70$25,125,377$13,087,021$10,734,728$22,086,276
71$27,647,500$13,687,619$11,053,675$24,025,900
72$30,425,597$14,316,365$11,382,026$26,152,333
73$33,485,740$14,974,598$11,720,055$28,484,221
74$36,856,654$15,663,722$12,068,045$31,042,095
75$40,569,995$16,385,207$12,426,287$33,848,563
76$44,660,647$17,140,594$12,795,080$36,928,522
77$49,167,049$17,931,500$13,174,732$40,309,390
78$54,131,562$18,759,617$13,565,559$44,021,364
79$59,600,863$19,626,720$13,967,887$48,097,699
80$65,626,391$20,534,669$14,382,052$52,575,024
81$72,264,830$21,485,415$14,808,397$57,493,682
82$79,578,642$22,481,000$15,247,279$62,898,106
83$87,636,662$23,523,568$15,699,061$68,837,243
84$96,514,741$24,615,362$16,164,119$75,365,003
85$106,296,467$25,758,737$16,642,839$82,540,774
86$117,073,952$26,956,161$17,135,619$90,429,973
87$128,948,700$28,210,218$17,642,868$99,104,662
88$142,032,569$29,523,620$18,165,005$108,644,225
89$156,448,822$30,899,208$18,702,464$119,136,113
90$172,333,294$32,339,961$19,255,689$130,676,667
91$189,835,673$33,849,002$19,825,137$143,372,022
92$209,120,913$35,429,605$20,411,281$157,339,104
93$230,370,790$37,085,199$21,014,603$172,706,731
94$253,785,621$38,819,384$21,635,602$189,616,823
95$279,586,150$40,635,929$22,274,790$208,225,738
96$308,015,636$42,538,789$22,932,694$228,705,742
97$339,342,149$44,532,107$23,609,857$251,246,631
98$373,861,096$46,620,229$24,306,836$276,057,516
99$411,898,017$48,807,709$25,024,204$303,368,792
100$453,811,651$51,099,323$25,762,551$333,434,307