Can I retire at age 58 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$208,099$206,246$204,437$202,672$200,948$197,538
2 years$103,019$101,101$99,241$97,438$95,690$92,264
3 years$67,997$66,070$64,216$62,430$60,709$57,376
4 years$50,490$48,569$46,733$44,977$43,299$40,082
5 years$39,988$38,079$36,266$34,547$32,915$29,825
6 years$32,989$31,094$29,309$27,627$26,044$23,085
7 years$27,992$26,113$24,356$22,714$21,181$18,352
8 years$24,246$22,383$20,655$19,054$17,572$14,873
9 years$21,333$19,489$17,791$16,230$14,798$12,228
10 years$19,005$17,178$15,510$13,990$12,609$10,166
11 years$17,101$15,293$13,655$12,176$10,844$8,525
12 years$15,516$13,726$12,118$10,680$9,397$7,199
13 years$14,175$12,404$10,827$9,429$8,194$6,114
14 years$13,027$11,275$9,728$8,370$7,183$5,217
15 years$12,033$10,300$8,783$7,464$6,325$4,469
16 years$11,165$9,450$7,963$6,683$5,590$3,841
17 years$10,399$8,703$7,246$6,005$4,956$3,310
18 years$9,719$8,042$6,615$5,412$4,407$2,859
19 years$9,111$7,453$6,056$4,890$3,928$2,474
20 years$8,565$6,926$5,558$4,429$3,508$2,145
21 years$8,071$6,451$5,112$4,019$3,140$1,862
22 years$7,623$6,022$4,711$3,655$2,814$1,619
23 years$7,214$5,632$4,350$3,328$2,526$1,408
24 years$6,840$5,277$4,023$3,036$2,271$1,227
25 years$6,497$4,952$3,726$2,772$2,043$1,069
26 years$6,180$4,654$3,456$2,535$1,840$933
27 years$5,888$4,380$3,209$2,320$1,659$814
28 years$5,617$4,128$2,983$2,126$1,497$711
29 years$5,364$3,894$2,776$1,949$1,352$621
30 years$5,130$3,677$2,586$1,789$1,222$543
31 years$4,910$3,476$2,411$1,643$1,104$475
32 years$4,705$3,289$2,249$1,510$999$415
33 years$4,513$3,115$2,100$1,389$904$363
34 years$4,332$2,952$1,962$1,278$819$318
35 years$4,162$2,800$1,835$1,176$741$278
36 years$4,002$2,658$1,716$1,083$672$243
37 years$3,851$2,524$1,606$998$609$213
38 years$3,708$2,399$1,504$920$552$187
39 years$3,573$2,281$1,409$848$501$163
40 years$3,445$2,170$1,321$782$454$143
41 years$3,324$2,066$1,239$722$412$125
42 years$3,208$1,968$1,162$666$374$110
43 years$3,099$1,875$1,090$615$339$96
44 years$2,994$1,787$1,023$568$308$84
45 years$2,895$1,704$961$524$280$74
46 years$2,800$1,626$903$484$254$65
47 years$2,709$1,551$848$447$230$57
48 years$2,622$1,481$797$414$209$50
49 years$2,540$1,414$749$382$190$44
50 years$2,460$1,351$704$353$173$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,520,000, adding $3,599 every year, while hoping to spend $26,454 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: 87/7/6 Blend
57$2,520,000$2,520,000$2,520,000$2,520,000
58$2,780,752$2,647,192$2,608,132$3,021,783
59$3,036,242$2,748,758$2,667,358$3,280,862
60$3,316,905$2,854,414$2,727,681$3,561,527
61$3,625,282$2,964,332$2,789,110$3,869,147
62$3,964,169$3,078,693$2,851,654$4,206,416
63$4,336,650$3,197,684$2,915,320$4,576,306
64$4,746,120$3,321,502$2,980,115$4,982,086
65$5,196,321$3,450,353$3,046,045$5,427,358
66$5,691,374$3,584,448$3,113,116$5,916,092
67$6,235,821$3,724,013$3,181,333$6,452,657
68$6,834,665$3,869,280$3,250,698$7,041,868
69$7,493,420$4,020,494$3,321,215$7,689,029
70$8,218,158$4,177,907$3,392,885$8,399,982
71$9,015,572$4,341,787$3,465,709$9,181,162
72$9,893,037$4,512,411$3,539,686$10,039,660
73$10,858,676$4,690,068$3,614,815$10,983,285
74$11,921,441$4,875,062$3,691,091$12,020,644
75$13,091,196$5,067,708$3,768,511$13,161,215
76$14,378,811$5,268,338$3,847,069$14,415,443
77$15,796,259$5,477,297$3,926,756$15,794,834
78$17,356,738$5,694,945$4,007,563$17,312,067
79$19,074,788$5,921,659$4,089,478$18,981,107
80$20,966,430$6,157,834$4,172,489$20,817,346
81$23,049,319$6,403,881$4,256,581$22,837,736
82$25,342,909$6,660,231$4,341,735$25,060,962
83$27,868,635$6,927,332$4,427,933$27,507,605
84$30,650,119$7,205,654$4,515,152$30,200,347
85$33,713,389$7,495,689$4,603,368$33,164,175
86$37,087,127$7,797,950$4,692,553$36,426,625
87$40,802,938$8,112,973$4,782,677$40,018,035
88$44,895,648$8,441,320$4,873,708$43,971,835
89$49,403,636$8,783,576$4,965,608$48,324,859
90$54,369,190$9,140,355$5,058,340$53,117,694
91$59,838,912$9,512,297$5,151,858$58,395,065
92$65,864,153$9,900,072$5,246,118$64,206,249
93$72,501,502$10,304,380$5,341,068$70,605,550
94$79,813,315$10,725,955$5,436,654$77,652,801
95$87,868,309$11,165,562$5,532,817$85,413,935
96$96,742,203$11,624,001$5,629,493$93,961,606
97$106,518,442$12,102,111$5,726,615$103,375,870
98$117,288,975$12,600,767$5,824,109$113,744,945
99$129,155,131$13,120,885$5,921,898$125,166,040
100$142,228,570$13,663,424$6,019,896$137,746,272