Can I retire at age 58 with 2,460,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$203,145$201,335$199,570$197,846$196,164$194,035
2 years$100,567$98,694$96,878$95,118$93,411$91,267
3 years$66,378$64,497$62,687$60,943$59,264$57,172
4 years$49,288$47,412$45,620$43,906$42,268$40,244
5 years$39,036$37,172$35,403$33,724$32,131$30,181
6 years$32,204$30,354$28,611$26,970$25,424$23,551
7 years$27,325$25,491$23,776$22,173$20,677$18,880
8 years$23,668$21,850$20,164$18,600$17,153$15,434
9 years$20,825$19,025$17,367$15,843$14,446$12,802
10 years$18,552$16,769$15,141$13,657$12,308$10,740
11 years$16,694$14,929$13,330$11,886$10,586$9,092
12 years$15,146$13,399$11,830$10,426$9,173$7,752
13 years$13,838$12,109$10,569$9,204$7,999$6,648
14 years$12,717$11,007$9,496$8,170$7,012$5,730
15 years$11,747$10,055$8,574$7,287$6,174$4,959
16 years$10,899$9,225$7,774$6,524$5,457$4,306
17 years$10,151$8,496$7,074$5,862$4,838$3,750
18 years$9,487$7,851$6,457$5,283$4,302$3,275
19 years$8,894$7,276$5,911$4,774$3,834$2,865
20 years$8,361$6,761$5,425$4,323$3,425$2,512
21 years$7,879$6,298$4,990$3,924$3,065$2,205
22 years$7,441$5,879$4,599$3,568$2,747$1,939
23 years$7,043$5,498$4,247$3,249$2,466$1,707
24 years$6,678$5,152$3,927$2,963$2,217$1,504
25 years$6,342$4,834$3,637$2,706$1,995$1,327
26 years$6,033$4,544$3,374$2,474$1,797$1,171
27 years$5,748$4,276$3,133$2,265$1,620$1,034
28 years$5,483$4,029$2,912$2,075$1,462$914
29 years$5,237$3,801$2,710$1,903$1,320$809
30 years$5,007$3,590$2,524$1,746$1,193$716
31 years$4,793$3,394$2,353$1,604$1,078$633
32 years$4,593$3,211$2,196$1,474$975$561
33 years$4,405$3,041$2,050$1,356$883$497
34 years$4,229$2,882$1,916$1,247$799$440
35 years$4,063$2,734$1,791$1,148$724$390
36 years$3,907$2,595$1,675$1,057$656$346
37 years$3,760$2,464$1,568$974$594$307
38 years$3,620$2,342$1,468$898$539$272
39 years$3,488$2,227$1,376$828$489$241
40 years$3,363$2,119$1,290$764$443$214
41 years$3,245$2,017$1,209$705$402$190
42 years$3,132$1,921$1,134$650$365$169
43 years$3,025$1,830$1,064$600$331$150
44 years$2,923$1,744$999$554$301$133
45 years$2,826$1,664$938$512$273$118
46 years$2,733$1,587$881$473$248$105
47 years$2,645$1,514$828$437$225$93
48 years$2,560$1,446$778$404$204$82
49 years$2,479$1,381$731$373$186$73
50 years$2,402$1,319$687$345$169$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,460,000, adding $2,728 every year, while hoping to spend $29,333 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: 66/24/10 Blend
57$2,460,000$2,460,000$2,460,000$2,460,000
58$2,713,734$2,583,354$2,545,224$2,886,955
59$2,959,325$2,678,728$2,599,279$3,097,981
60$3,228,983$2,777,793$2,654,161$3,324,802
61$3,525,132$2,880,697$2,709,869$3,571,945
62$3,850,442$2,987,598$2,766,396$3,841,391
63$4,207,854$3,098,658$2,823,738$4,135,321
64$4,600,610$3,214,047$2,881,888$4,456,132
65$5,032,279$3,333,942$2,940,838$4,806,465
66$5,506,794$3,458,528$3,000,578$5,189,227
67$6,028,488$3,587,997$3,061,099$5,607,616
68$6,602,135$3,722,550$3,122,387$6,065,154
69$7,232,994$3,862,396$3,184,428$6,565,717
70$7,926,861$4,007,754$3,247,207$7,113,574
71$8,690,118$4,158,852$3,310,707$7,713,424
72$9,529,802$4,315,927$3,374,907$8,370,440
73$10,453,662$4,479,228$3,439,786$9,090,321
74$11,470,238$4,649,013$3,505,322$9,879,341
75$12,588,940$4,825,552$3,571,487$10,744,407
76$13,820,134$5,009,126$3,638,255$11,693,130
77$15,175,244$5,200,030$3,705,593$12,733,887
78$16,666,858$5,398,570$3,773,469$13,875,909
79$18,308,844$5,605,066$3,841,846$15,129,358
80$20,116,484$5,819,853$3,910,687$16,505,431
81$22,106,618$6,043,279$3,979,947$18,016,459
82$24,297,801$6,275,707$4,049,583$19,676,023
83$26,710,478$6,517,518$4,119,546$21,499,086
84$29,367,179$6,769,108$4,189,782$23,502,127
85$32,292,728$7,030,891$4,260,237$25,703,302
86$35,514,482$7,303,300$4,330,850$28,122,609
87$39,062,583$7,586,786$4,401,558$30,782,079
88$42,970,247$7,881,819$4,472,291$33,705,982
89$47,274,077$8,188,893$4,542,977$36,921,057
90$52,014,404$8,508,520$4,613,538$40,456,759
91$57,235,674$8,841,238$4,683,892$44,345,541
92$62,986,861$9,187,607$4,753,951$48,623,155
93$69,321,933$9,548,212$4,823,620$53,328,992
94$76,300,360$9,923,664$4,892,802$58,506,448
95$83,987,676$10,314,603$4,961,390$64,203,338
96$92,456,095$10,721,696$5,029,273$70,472,342
97$101,785,197$11,145,638$5,096,333$77,371,501
98$112,062,671$11,587,159$5,162,445$84,964,768
99$123,385,153$12,047,019$5,227,476$93,322,602
100$135,859,129$12,526,013$5,291,287$102,522,641