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

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 $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%18.3%
1 years$203,145$201,335$199,570$197,846$196,164$189,581
2 years$100,567$98,694$96,878$95,118$93,411$86,844
3 years$66,378$64,497$62,687$60,943$59,264$52,919
4 years$49,288$47,412$45,620$43,906$42,268$36,193
5 years$39,036$37,172$35,403$33,724$32,131$26,343
6 years$32,204$30,354$28,611$26,970$25,424$19,927
7 years$27,325$25,491$23,776$22,173$20,677$15,470
8 years$23,668$21,850$20,164$18,600$17,153$12,233
9 years$20,825$19,025$17,367$15,843$14,446$9,806
10 years$18,552$16,769$15,141$13,657$12,308$7,942
11 years$16,694$14,929$13,330$11,886$10,586$6,484
12 years$15,146$13,399$11,830$10,426$9,173$5,327
13 years$13,838$12,109$10,569$9,204$7,999$4,398
14 years$12,717$11,007$9,496$8,170$7,012$3,646
15 years$11,747$10,055$8,574$7,287$6,174$3,033
16 years$10,899$9,225$7,774$6,524$5,457$2,530
17 years$10,151$8,496$7,074$5,862$4,838$2,114
18 years$9,487$7,851$6,457$5,283$4,302$1,771
19 years$8,894$7,276$5,911$4,774$3,834$1,485
20 years$8,361$6,761$5,425$4,323$3,425$1,247
21 years$7,879$6,298$4,990$3,924$3,065$1,048
22 years$7,441$5,879$4,599$3,568$2,747$882
23 years$7,043$5,498$4,247$3,249$2,466$743
24 years$6,678$5,152$3,927$2,963$2,217$626
25 years$6,342$4,834$3,637$2,706$1,995$527
26 years$6,033$4,544$3,374$2,474$1,797$445
27 years$5,748$4,276$3,133$2,265$1,620$375
28 years$5,483$4,029$2,912$2,075$1,462$317
29 years$5,237$3,801$2,710$1,903$1,320$267
30 years$5,007$3,590$2,524$1,746$1,193$226
31 years$4,793$3,394$2,353$1,604$1,078$191
32 years$4,593$3,211$2,196$1,474$975$161
33 years$4,405$3,041$2,050$1,356$883$136
34 years$4,229$2,882$1,916$1,247$799$115
35 years$4,063$2,734$1,791$1,148$724$97
36 years$3,907$2,595$1,675$1,057$656$82
37 years$3,760$2,464$1,568$974$594$69
38 years$3,620$2,342$1,468$898$539$59
39 years$3,488$2,227$1,376$828$489$49
40 years$3,363$2,119$1,290$764$443$42
41 years$3,245$2,017$1,209$705$402$35
42 years$3,132$1,921$1,134$650$365$30
43 years$3,025$1,830$1,064$600$331$25
44 years$2,923$1,744$999$554$301$21
45 years$2,826$1,664$938$512$273$18
46 years$2,733$1,587$881$473$248$15
47 years$2,645$1,514$828$437$225$13
48 years$2,560$1,446$778$404$204$11
49 years$2,479$1,381$731$373$186$9
50 years$2,402$1,319$687$345$169$8

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 $3,863 every year, while hoping to spend $52,567 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: 38/48/14 Blend
57$2,460,000$2,460,000$2,460,000$2,460,000
58$2,714,905$2,584,525$2,546,395$2,806,424
59$2,935,894$2,655,236$2,575,768$2,942,833
60$3,177,663$2,727,649$2,604,364$3,084,793
61$3,442,274$2,801,794$2,632,100$3,237,070
62$3,732,002$2,877,697$2,658,890$3,400,617
63$4,049,347$2,955,386$2,684,645$3,576,483
64$4,397,068$3,034,888$2,709,268$3,765,821
65$4,778,199$3,116,227$2,732,658$3,969,901
66$5,196,083$3,199,430$2,754,710$4,190,122
67$5,654,402$3,284,521$2,775,312$4,428,020
68$6,157,212$3,371,523$2,794,345$4,685,289
69$6,708,980$3,460,459$2,811,688$4,963,794
70$7,314,625$3,551,351$2,827,209$5,265,586
71$7,979,568$3,644,219$2,840,771$5,592,926
72$8,709,778$3,739,080$2,852,232$5,948,304
73$9,511,834$3,835,953$2,861,440$6,334,459
74$10,392,980$3,934,854$2,868,237$6,754,411
75$11,361,197$4,035,794$2,872,456$7,211,486
76$12,425,278$4,138,788$2,873,922$7,709,346
77$13,594,910$4,243,842$2,872,453$8,252,025
78$14,880,767$4,350,966$2,867,855$8,843,970
79$16,294,604$4,460,163$2,859,928$9,490,077
80$17,849,377$4,571,434$2,848,459$10,195,741
81$19,559,357$4,684,778$2,833,226$10,966,906
82$21,440,270$4,800,191$2,813,997$11,810,121
83$23,509,441$4,917,663$2,790,529$12,732,602
84$25,785,958$5,037,183$2,762,566$13,742,299
85$28,290,854$5,158,733$2,729,841$14,847,974
86$31,047,304$5,282,294$2,692,073$16,059,279
87$34,080,841$5,407,838$2,648,970$17,386,854
88$37,419,601$5,535,336$2,600,224$18,842,418
89$41,094,583$5,664,751$2,545,514$20,438,891
90$45,139,946$5,796,039$2,484,505$22,190,505
91$49,593,328$5,929,153$2,416,843$24,112,947
92$54,496,202$6,064,036$2,342,162$26,223,504
93$59,894,267$6,200,625$2,260,076$28,541,224
94$65,837,877$6,338,850$2,170,183$31,087,102
95$72,382,518$6,478,632$2,072,063$33,884,271
96$79,589,332$6,619,882$1,965,274$36,958,227
97$87,525,690$6,762,503$1,849,357$40,337,069
98$96,265,832$6,906,387$1,723,832$44,051,760
99$105,891,563$7,051,416$1,588,196$48,136,427
100$116,493,026$7,197,459$1,441,925$52,628,675