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%16.9%
1 years$204,796$202,972$201,192$199,455$197,759$192,199
2 years$101,384$99,496$97,666$95,892$94,171$88,612
3 years$66,918$65,022$63,196$61,439$59,746$54,362
4 years$49,688$47,798$45,991$44,263$42,611$37,443
5 years$39,353$37,474$35,691$33,998$32,392$27,455
6 years$32,465$30,600$28,843$27,189$25,631$20,928
7 years$27,548$25,698$23,969$22,353$20,845$16,377
8 years$23,861$22,028$20,328$18,752$17,293$13,058
9 years$20,995$19,179$17,508$15,972$14,563$10,557
10 years$18,703$16,906$15,264$13,768$12,408$8,625
11 years$16,830$15,050$13,438$11,983$10,672$7,105
12 years$15,270$13,508$11,926$10,510$9,248$5,892
13 years$13,950$12,207$10,655$9,279$8,064$4,911
14 years$12,821$11,096$9,574$8,237$7,069$4,111
15 years$11,842$10,137$8,644$7,346$6,224$3,454
16 years$10,987$9,300$7,837$6,577$5,501$2,910
17 years$10,234$8,565$7,131$5,910$4,878$2,457
18 years$9,564$7,915$6,510$5,326$4,337$2,079
19 years$8,966$7,335$5,959$4,812$3,866$1,762
20 years$8,429$6,816$5,469$4,359$3,453$1,496
21 years$7,943$6,349$5,031$3,956$3,090$1,271
22 years$7,502$5,927$4,637$3,597$2,770$1,081
23 years$7,100$5,543$4,281$3,275$2,486$921
24 years$6,732$5,193$3,959$2,987$2,235$784
25 years$6,394$4,874$3,667$2,728$2,011$669
26 years$6,082$4,581$3,401$2,495$1,811$570
27 years$5,794$4,311$3,158$2,283$1,633$487
28 years$5,527$4,062$2,936$2,092$1,474$415
29 years$5,279$3,832$2,732$1,918$1,331$355
30 years$5,048$3,619$2,545$1,761$1,202$303
31 years$4,832$3,421$2,373$1,617$1,087$259
32 years$4,631$3,237$2,214$1,486$983$221
33 years$4,441$3,066$2,067$1,367$890$189
34 years$4,264$2,905$1,931$1,257$806$161
35 years$4,096$2,756$1,805$1,157$730$138
36 years$3,939$2,616$1,689$1,066$661$118
37 years$3,790$2,484$1,581$982$599$101
38 years$3,650$2,361$1,480$905$543$86
39 years$3,517$2,245$1,387$835$493$74
40 years$3,391$2,136$1,300$770$447$63
41 years$3,271$2,033$1,219$710$405$54
42 years$3,157$1,936$1,143$656$368$46
43 years$3,049$1,845$1,073$605$334$39
44 years$2,947$1,759$1,007$559$303$34
45 years$2,849$1,677$946$516$275$29
46 years$2,755$1,600$888$477$250$25
47 years$2,666$1,527$834$440$227$21
48 years$2,581$1,457$784$407$206$18
49 years$2,499$1,392$737$376$187$15
50 years$2,421$1,330$693$348$170$13

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 $2,317 every year, while hoping to spend $44,607 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: 45/33/22 Blend
57$2,480,000$2,480,000$2,480,000$2,480,000
58$2,735,350$2,603,910$2,565,470$2,841,001
59$2,966,894$2,684,040$2,603,952$2,995,773
60$3,220,561$2,766,601$2,642,228$3,158,953
61$3,498,559$2,851,666$2,680,244$3,335,011
62$3,803,323$2,939,309$2,717,942$3,525,164
63$4,137,532$3,029,604$2,755,263$3,730,755
64$4,504,137$3,122,632$2,792,142$3,953,261
65$4,906,391$3,218,473$2,828,510$4,194,306
66$5,347,873$3,317,209$2,864,296$4,455,678
67$5,832,530$3,418,925$2,899,423$4,739,346
68$6,364,705$3,523,710$2,933,811$5,047,477
69$6,949,185$3,631,652$2,967,374$5,382,456
70$7,591,244$3,742,845$3,000,023$5,746,910
71$8,296,690$3,857,384$3,031,663$6,143,730
72$9,071,923$3,975,365$3,062,194$6,576,102
73$9,923,992$4,096,891$3,091,510$7,047,532
74$10,860,663$4,222,063$3,119,500$7,561,883
75$11,890,495$4,350,988$3,146,047$8,123,408
76$13,022,914$4,483,775$3,171,028$8,736,792
77$14,268,307$4,620,536$3,194,313$9,407,195
78$15,638,117$4,761,385$3,215,766$10,140,301
79$17,144,953$4,906,440$3,235,241$10,942,370
80$18,802,705$5,055,824$3,252,590$11,820,299
81$20,626,682$5,209,659$3,267,652$12,781,686
82$22,633,746$5,368,075$3,280,260$13,834,900
83$24,842,479$5,531,202$3,290,241$14,989,161
84$27,273,356$5,699,175$3,297,408$16,254,628
85$29,948,936$5,872,133$3,301,569$17,642,493
86$32,894,077$6,050,217$3,302,521$19,165,085
87$36,136,169$6,233,573$3,300,051$20,835,988
88$39,705,390$6,422,350$3,293,935$22,670,172
89$43,634,998$6,616,703$3,283,940$24,684,126
90$47,961,635$6,816,789$3,269,819$26,896,021
91$52,725,678$7,022,768$3,251,314$29,325,878
92$57,971,621$7,234,807$3,228,157$31,995,757
93$63,748,489$7,453,075$3,200,063$34,929,965
94$70,110,306$7,677,747$3,166,736$38,155,286
95$77,116,602$7,909,002$3,127,867$41,701,231
96$84,832,974$8,147,022$3,083,129$45,600,320
97$93,331,706$8,391,994$3,032,183$49,888,387
98$102,692,451$8,644,113$2,974,671$54,604,917
99$113,002,980$8,903,573$2,910,222$59,793,420
100$124,360,014$9,170,578$2,838,444$65,501,841