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%15.1%
1 years$204,796$202,972$201,192$199,455$197,759$193,608
2 years$101,384$99,496$97,666$95,892$94,171$90,008
3 years$66,918$65,022$63,196$61,439$59,746$55,702
4 years$49,688$47,798$45,991$44,263$42,611$38,716
5 years$39,353$37,474$35,691$33,998$32,392$28,658
6 years$32,465$30,600$28,843$27,189$25,631$22,061
7 years$27,548$25,698$23,969$22,353$20,845$17,441
8 years$23,861$22,028$20,328$18,752$17,293$14,053
9 years$20,995$19,179$17,508$15,972$14,563$11,485
10 years$18,703$16,906$15,264$13,768$12,408$9,489
11 years$16,830$15,050$13,438$11,983$10,672$7,908
12 years$15,270$13,508$11,926$10,510$9,248$6,635
13 years$13,950$12,207$10,655$9,279$8,064$5,598
14 years$12,821$11,096$9,574$8,237$7,069$4,744
15 years$11,842$10,137$8,644$7,346$6,224$4,036
16 years$10,987$9,300$7,837$6,577$5,501$3,444
17 years$10,234$8,565$7,131$5,910$4,878$2,947
18 years$9,564$7,915$6,510$5,326$4,337$2,527
19 years$8,966$7,335$5,959$4,812$3,866$2,171
20 years$8,429$6,816$5,469$4,359$3,453$1,868
21 years$7,943$6,349$5,031$3,956$3,090$1,609
22 years$7,502$5,927$4,637$3,597$2,770$1,388
23 years$7,100$5,543$4,281$3,275$2,486$1,198
24 years$6,732$5,193$3,959$2,987$2,235$1,036
25 years$6,394$4,874$3,667$2,728$2,011$896
26 years$6,082$4,581$3,401$2,495$1,811$775
27 years$5,794$4,311$3,158$2,283$1,633$671
28 years$5,527$4,062$2,936$2,092$1,474$581
29 years$5,279$3,832$2,732$1,918$1,331$504
30 years$5,048$3,619$2,545$1,761$1,202$437
31 years$4,832$3,421$2,373$1,617$1,087$379
32 years$4,631$3,237$2,214$1,486$983$328
33 years$4,441$3,066$2,067$1,367$890$285
34 years$4,264$2,905$1,931$1,257$806$247
35 years$4,096$2,756$1,805$1,157$730$215
36 years$3,939$2,616$1,689$1,066$661$186
37 years$3,790$2,484$1,581$982$599$162
38 years$3,650$2,361$1,480$905$543$140
39 years$3,517$2,245$1,387$835$493$122
40 years$3,391$2,136$1,300$770$447$106
41 years$3,271$2,033$1,219$710$405$92
42 years$3,157$1,936$1,143$656$368$80
43 years$3,049$1,845$1,073$605$334$69
44 years$2,947$1,759$1,007$559$303$60
45 years$2,849$1,677$946$516$275$52
46 years$2,755$1,600$888$477$250$45
47 years$2,666$1,527$834$440$227$39
48 years$2,581$1,457$784$407$206$34
49 years$2,499$1,392$737$376$187$30
50 years$2,421$1,330$693$348$170$26

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 $6,971 every year, while hoping to spend $24,573 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: 81/14/5 Blend
57$2,480,000$2,480,000$2,480,000$2,480,000
58$2,740,151$2,608,711$2,570,271$2,961,192
59$2,993,500$2,710,392$2,630,229$3,208,407
60$3,271,868$2,816,232$2,691,373$3,475,662
61$3,577,780$2,926,409$2,753,715$3,768,205
62$3,914,019$3,041,108$2,817,270$4,088,547
63$4,283,650$3,160,524$2,882,050$4,439,454
64$4,690,052$3,284,858$2,948,067$4,823,973
65$5,136,944$3,414,323$3,015,334$5,245,455
66$5,628,427$3,549,140$3,083,863$5,707,593
67$6,169,019$3,689,540$3,153,665$6,214,455
68$6,763,695$3,835,764$3,224,749$6,770,519
69$7,417,940$3,988,064$3,297,125$7,380,717
70$8,137,794$4,146,703$3,370,804$8,050,481
71$8,929,915$4,311,958$3,445,792$8,785,794
72$9,801,638$4,484,115$3,522,097$9,593,246
73$10,761,043$4,663,475$3,599,726$10,480,095
74$11,817,037$4,850,353$3,678,684$11,454,337
75$12,979,430$5,045,076$3,758,975$12,524,779
76$14,259,035$5,247,988$3,840,604$13,701,121
77$15,667,765$5,459,447$3,923,572$14,994,050
78$17,218,745$5,679,828$4,007,880$16,415,339
79$18,926,441$5,909,524$4,093,528$17,977,957
80$20,806,790$6,148,943$4,180,514$19,696,190
81$22,877,356$6,398,513$4,268,833$21,585,778
82$25,157,489$6,658,684$4,358,483$23,664,061
83$27,668,516$6,929,922$4,449,454$25,950,141
84$30,433,933$7,212,717$4,541,740$28,465,066
85$33,479,635$7,507,581$4,635,329$31,232,024
86$36,834,154$7,815,048$4,730,208$34,276,560
87$40,528,930$8,135,679$4,826,364$37,626,822
88$44,598,612$8,470,058$4,923,777$41,313,820
89$49,081,376$8,818,797$5,022,430$45,371,724
90$54,019,295$9,182,535$5,122,299$49,838,178
91$59,458,727$9,561,944$5,223,360$54,754,662
92$65,450,759$9,957,721$5,325,584$60,166,879
93$72,051,686$10,370,599$5,428,942$66,125,184
94$79,323,544$10,801,344$5,533,397$72,685,062
95$87,334,693$11,250,758$5,638,913$79,907,649
96$96,160,463$11,719,677$5,745,449$87,860,309
97$105,883,868$12,208,978$5,852,959$96,617,265
98$116,596,384$12,719,579$5,961,394$106,260,305
99$128,398,816$13,252,439$6,070,701$116,879,548
100$141,402,248$13,808,562$6,180,823$128,574,294