Can I retire at age 58 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$204,796$202,972$201,192$199,455$197,759$196,266
2 years$101,384$99,496$97,666$95,892$94,171$92,666
3 years$66,918$65,022$63,196$61,439$59,746$58,275
4 years$49,688$47,798$45,991$44,263$42,611$41,186
5 years$39,353$37,474$35,691$33,998$32,392$31,017
6 years$32,465$30,600$28,843$27,189$25,631$24,307
7 years$27,548$25,698$23,969$22,353$20,845$19,574
8 years$23,861$22,028$20,328$18,752$17,293$16,074
9 years$20,995$19,179$17,508$15,972$14,563$13,396
10 years$18,703$16,906$15,264$13,768$12,408$11,293
11 years$16,830$15,050$13,438$11,983$10,672$9,606
12 years$15,270$13,508$11,926$10,510$9,248$8,232
13 years$13,950$12,207$10,655$9,279$8,064$7,097
14 years$12,821$11,096$9,574$8,237$7,069$6,149
15 years$11,842$10,137$8,644$7,346$6,224$5,350
16 years$10,987$9,300$7,837$6,577$5,501$4,672
17 years$10,234$8,565$7,131$5,910$4,878$4,091
18 years$9,564$7,915$6,510$5,326$4,337$3,593
19 years$8,966$7,335$5,959$4,812$3,866$3,162
20 years$8,429$6,816$5,469$4,359$3,453$2,788
21 years$7,943$6,349$5,031$3,956$3,090$2,462
22 years$7,502$5,927$4,637$3,597$2,770$2,178
23 years$7,100$5,543$4,281$3,275$2,486$1,929
24 years$6,732$5,193$3,959$2,987$2,235$1,710
25 years$6,394$4,874$3,667$2,728$2,011$1,518
26 years$6,082$4,581$3,401$2,495$1,811$1,348
27 years$5,794$4,311$3,158$2,283$1,633$1,199
28 years$5,527$4,062$2,936$2,092$1,474$1,066
29 years$5,279$3,832$2,732$1,918$1,331$949
30 years$5,048$3,619$2,545$1,761$1,202$845
31 years$4,832$3,421$2,373$1,617$1,087$753
32 years$4,631$3,237$2,214$1,486$983$671
33 years$4,441$3,066$2,067$1,367$890$599
34 years$4,264$2,905$1,931$1,257$806$534
35 years$4,096$2,756$1,805$1,157$730$477
36 years$3,939$2,616$1,689$1,066$661$425
37 years$3,790$2,484$1,581$982$599$380
38 years$3,650$2,361$1,480$905$543$339
39 years$3,517$2,245$1,387$835$493$303
40 years$3,391$2,136$1,300$770$447$270
41 years$3,271$2,033$1,219$710$405$242
42 years$3,157$1,936$1,143$656$368$216
43 years$3,049$1,845$1,073$605$334$193
44 years$2,947$1,759$1,007$559$303$172
45 years$2,849$1,677$946$516$275$154
46 years$2,755$1,600$888$477$250$138
47 years$2,666$1,527$834$440$227$123
48 years$2,581$1,457$784$407$206$110
49 years$2,499$1,392$737$376$187$98
50 years$2,421$1,330$693$348$170$88

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,480,000, adding $6,581 every year, while hoping to spend $44,084 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: 51/29/20 Blend
57$2,480,000$2,480,000$2,480,000$2,480,000
58$2,739,748$2,608,308$2,569,868$2,863,964
59$2,972,298$2,689,210$2,609,054$3,031,288
60$3,227,089$2,772,599$2,648,075$3,208,027
61$3,506,346$2,858,550$2,686,879$3,399,253
62$3,812,515$2,947,140$2,725,410$3,606,356
63$4,148,291$3,038,450$2,763,611$3,830,860
64$4,516,644$3,132,561$2,801,419$4,074,448
65$4,920,843$3,229,558$2,838,769$4,338,970
66$5,364,491$3,329,529$2,875,590$4,626,462
67$5,851,555$3,432,562$2,911,808$4,939,166
68$6,386,407$3,538,750$2,947,346$5,279,550
69$6,973,860$3,648,188$2,982,122$5,650,333
70$7,619,218$3,760,974$3,016,048$6,054,508
71$8,328,325$3,877,209$3,049,032$6,495,369
72$9,107,617$3,996,995$3,080,977$6,976,546
73$9,964,186$4,120,439$3,111,782$7,502,037
74$10,905,844$4,247,651$3,141,337$8,076,242
75$11,941,198$4,378,744$3,169,530$8,704,010
76$13,079,731$4,513,834$3,196,241$9,390,683
77$14,331,892$4,653,040$3,221,343$10,142,141
78$15,709,190$4,796,485$3,244,704$10,964,865
79$17,224,310$4,944,295$3,266,184$11,865,992
80$18,891,225$5,096,601$3,285,636$12,853,385
81$20,725,331$5,253,535$3,302,906$13,935,707
82$22,743,593$5,415,236$3,317,831$15,122,500
83$24,964,702$5,581,846$3,330,241$16,424,277
84$27,409,254$5,753,509$3,339,957$17,852,621
85$30,099,942$5,930,375$3,346,790$19,420,292
86$33,061,771$6,112,598$3,350,542$21,141,350
87$36,322,294$6,300,337$3,351,007$23,031,286
88$39,911,868$6,493,754$3,347,966$25,107,167
89$43,863,947$6,693,017$3,341,192$27,387,796
90$48,215,392$6,898,297$3,330,444$29,893,895
91$53,006,820$7,109,772$3,315,472$32,648,293
92$58,282,988$7,327,622$3,296,012$35,676,146
93$64,093,213$7,552,036$3,271,788$39,005,170
94$70,491,840$7,783,205$3,242,512$42,665,908
95$77,538,752$8,021,326$3,207,881$46,692,013
96$85,299,936$8,266,603$3,167,577$51,120,568
97$93,848,107$8,519,243$3,121,268$55,992,434
98$103,263,389$8,779,462$3,068,606$61,352,637
99$113,634,078$9,047,479$3,009,227$67,250,793
100$125,057,469$9,323,520$2,942,751$73,741,573