Can I retire at age 58 with 2,490,000?

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 $2,490,000?

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$205,622$203,790$202,003$200,259$198,556$192,974
2 years$101,793$99,897$98,060$96,278$94,551$88,969
3 years$67,188$65,284$63,451$61,687$59,987$54,581
4 years$49,889$47,991$46,176$44,442$42,783$37,594
5 years$39,512$37,625$35,835$34,135$32,523$27,565
6 years$32,596$30,724$28,960$27,298$25,734$21,013
7 years$27,659$25,802$24,066$22,444$20,929$16,443
8 years$23,957$22,117$20,410$18,827$17,363$13,111
9 years$21,079$19,257$17,579$16,037$14,622$10,599
10 years$18,779$16,974$15,326$13,824$12,458$8,660
11 years$16,898$15,111$13,492$12,031$10,715$7,134
12 years$15,331$13,563$11,974$10,553$9,285$5,916
13 years$14,007$12,257$10,698$9,316$8,097$4,931
14 years$12,872$11,141$9,612$8,270$7,098$4,128
15 years$11,890$10,178$8,679$7,375$6,249$3,468
16 years$11,032$9,338$7,868$6,604$5,523$2,922
17 years$10,275$8,600$7,160$5,934$4,897$2,467
18 years$9,603$7,946$6,536$5,347$4,354$2,088
19 years$9,002$7,365$5,984$4,832$3,881$1,770
20 years$8,463$6,844$5,491$4,376$3,467$1,502
21 years$7,975$6,375$5,051$3,972$3,102$1,276
22 years$7,532$5,950$4,655$3,611$2,781$1,086
23 years$7,129$5,565$4,298$3,289$2,496$924
24 years$6,759$5,214$3,975$2,999$2,244$787
25 years$6,420$4,893$3,682$2,739$2,019$671
26 years$6,107$4,599$3,415$2,505$1,819$572
27 years$5,818$4,328$3,171$2,293$1,640$488
28 years$5,550$4,078$2,948$2,100$1,479$417
29 years$5,301$3,848$2,743$1,926$1,336$356
30 years$5,069$3,634$2,555$1,768$1,207$304
31 years$4,852$3,435$2,382$1,624$1,091$260
32 years$4,649$3,250$2,223$1,492$987$222
33 years$4,459$3,078$2,075$1,372$893$190
34 years$4,281$2,917$1,939$1,262$809$162
35 years$4,113$2,767$1,813$1,162$733$139
36 years$3,955$2,626$1,696$1,070$664$118
37 years$3,805$2,494$1,587$986$602$101
38 years$3,664$2,370$1,486$909$545$87
39 years$3,531$2,254$1,393$838$495$74
40 years$3,404$2,145$1,305$773$449$63
41 years$3,284$2,041$1,224$713$407$54
42 years$3,170$1,944$1,148$658$369$46
43 years$3,062$1,852$1,077$608$335$40
44 years$2,958$1,766$1,011$561$304$34
45 years$2,860$1,684$950$518$276$29
46 years$2,766$1,606$892$479$251$25
47 years$2,677$1,533$838$442$228$21
48 years$2,591$1,463$787$409$207$18
49 years$2,509$1,397$740$378$188$16
50 years$2,431$1,335$696$349$171$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,490,000, adding $5,563 every year, while hoping to spend $22,123 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: 63/21/16 Blend
57$2,490,000$2,490,000$2,490,000$2,490,000
58$2,749,718$2,617,748$2,579,153$2,911,713
59$3,006,651$2,722,479$2,642,016$3,125,897
60$3,289,049$2,831,601$2,706,244$3,356,673
61$3,599,487$2,945,304$2,771,858$3,608,157
62$3,940,801$3,063,790$2,838,881$3,882,364
63$4,316,115$3,187,268$2,907,336$4,181,516
64$4,728,871$3,315,957$2,977,245$4,508,052
65$5,182,863$3,450,086$3,048,629$4,864,661
66$5,682,269$3,589,894$3,121,512$5,254,300
67$6,231,694$3,735,632$3,195,916$5,680,225
68$6,836,209$3,887,560$3,271,861$6,146,018
69$7,501,404$4,045,953$3,349,371$6,655,625
70$8,233,439$4,211,096$3,428,466$7,213,386
71$9,039,098$4,383,287$3,509,168$7,824,083
72$9,925,858$4,562,841$3,591,497$8,492,979
73$10,901,958$4,750,083$3,675,475$9,225,870
74$11,976,476$4,945,355$3,761,122$10,029,135
75$13,159,414$5,149,015$3,848,457$10,909,802
76$14,461,794$5,361,436$3,937,500$11,875,608
77$15,895,760$5,583,010$4,028,269$12,935,074
78$17,474,696$5,814,145$4,120,784$14,097,584
79$19,213,346$6,055,269$4,215,061$15,373,473
80$21,127,959$6,306,830$4,311,118$16,774,123
81$23,236,441$6,569,294$4,408,971$18,312,070
82$25,558,521$6,843,153$4,508,634$20,001,123
83$28,115,940$7,128,917$4,610,123$21,856,491
84$30,932,655$7,427,124$4,713,452$23,894,927
85$34,035,065$7,738,332$4,818,631$26,134,883
86$37,452,260$8,063,128$4,925,674$28,596,688
87$41,216,296$8,402,127$5,034,590$31,302,733
88$45,362,497$8,755,970$5,145,387$34,277,684
89$49,929,787$9,125,328$5,258,073$37,548,717
90$54,961,061$9,510,905$5,372,654$41,145,765
91$60,503,586$9,913,436$5,489,135$45,101,808
92$66,609,448$10,333,690$5,607,517$49,453,177
93$73,336,044$10,772,474$5,727,801$54,239,899
94$80,746,625$11,230,629$5,849,987$59,506,070
95$88,910,890$11,709,039$5,974,070$65,300,276
96$97,905,645$12,208,626$6,100,046$71,676,041
97$107,815,529$12,730,357$6,227,906$78,692,339
98$118,733,812$13,275,244$6,357,640$86,414,144
99$130,763,274$13,844,345$6,489,235$94,913,045
100$144,017,178$14,438,767$6,622,674$104,267,916