Can I retire at age 58 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$209,751$207,882$206,060$204,280$202,543$198,616
2 years$103,837$101,903$100,029$98,212$96,449$92,509
3 years$68,537$66,595$64,725$62,925$61,191$57,360
4 years$50,891$48,954$47,103$45,334$43,642$39,950
5 years$40,305$38,381$36,554$34,821$33,176$29,633
6 years$33,251$31,341$29,541$27,847$26,251$22,862
7 years$28,214$26,320$24,549$22,894$21,349$18,114
8 years$24,438$22,561$20,819$19,205$17,711$14,629
9 years$21,503$19,643$17,932$16,359$14,915$11,985
10 years$19,156$17,315$15,633$14,101$12,709$9,927
11 years$17,237$15,414$13,763$12,272$10,930$8,293
12 years$15,639$13,835$12,215$10,765$9,472$6,976
13 years$14,288$12,503$10,913$9,503$8,259$5,901
14 years$13,131$11,365$9,805$8,436$7,240$5,015
15 years$12,129$10,382$8,853$7,524$6,375$4,278
16 years$11,253$9,525$8,026$6,737$5,634$3,661
17 years$10,481$8,772$7,304$6,053$4,996$3,141
18 years$9,796$8,106$6,667$5,455$4,442$2,702
19 years$9,183$7,513$6,104$4,929$3,959$2,328
20 years$8,633$6,981$5,602$4,464$3,536$2,009
21 years$8,135$6,503$5,152$4,051$3,165$1,736
22 years$7,683$6,070$4,749$3,684$2,837$1,502
23 years$7,272$5,677$4,385$3,355$2,546$1,301
24 years$6,895$5,319$4,055$3,060$2,289$1,128
25 years$6,549$4,992$3,756$2,794$2,059$979
26 years$6,229$4,691$3,483$2,555$1,855$849
27 years$5,934$4,415$3,235$2,339$1,673$738
28 years$5,661$4,160$3,007$2,143$1,509$641
29 years$5,407$3,925$2,798$1,965$1,363$557
30 years$5,170$3,707$2,606$1,803$1,231$485
31 years$4,949$3,504$2,430$1,656$1,113$422
32 years$4,743$3,315$2,267$1,522$1,007$367
33 years$4,549$3,140$2,117$1,400$911$319
34 years$4,367$2,976$1,978$1,288$825$278
35 years$4,195$2,822$1,849$1,185$747$242
36 years$4,034$2,679$1,730$1,092$677$211
37 years$3,882$2,544$1,619$1,006$614$184
38 years$3,738$2,418$1,516$927$556$160
39 years$3,602$2,299$1,421$855$505$139
40 years$3,473$2,188$1,331$789$458$122
41 years$3,350$2,082$1,248$728$415$106
42 years$3,234$1,983$1,171$671$377$92
43 years$3,123$1,890$1,099$620$342$80
44 years$3,018$1,801$1,032$572$310$70
45 years$2,918$1,718$969$529$282$61
46 years$2,822$1,639$910$488$256$53
47 years$2,731$1,564$855$451$232$46
48 years$2,643$1,493$803$417$211$40
49 years$2,560$1,425$755$385$192$35
50 years$2,480$1,362$710$356$174$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,540,000, adding $2,490 every year, while hoping to spend $31,466 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: 53/39/8 Blend
57$2,540,000$2,540,000$2,540,000$2,540,000
58$2,801,648$2,667,028$2,627,658$2,944,499
59$3,053,937$2,764,233$2,682,205$3,138,862
60$3,330,904$2,865,146$2,737,525$3,346,566
61$3,635,035$2,969,917$2,793,610$3,571,779
62$3,969,064$3,078,698$2,850,452$3,816,160
63$4,336,007$3,191,653$2,908,041$4,081,537
64$4,739,184$3,308,949$2,966,365$4,369,916
65$5,182,254$3,430,760$3,025,411$4,683,505
66$5,669,247$3,557,270$3,085,165$5,024,732
67$6,204,602$3,688,669$3,145,610$5,396,265
68$6,793,213$3,825,155$3,206,729$5,801,042
69$7,440,467$3,966,934$3,268,501$6,242,294
70$8,152,303$4,114,222$3,330,905$6,723,575
71$8,935,264$4,267,244$3,393,915$7,248,796
72$9,796,556$4,426,234$3,457,506$7,822,260
73$10,744,121$4,591,437$3,521,650$8,448,704
74$11,786,710$4,763,106$3,586,314$9,133,340
75$12,933,964$4,941,508$3,651,465$9,881,905
76$14,196,506$5,126,919$3,717,066$10,700,714
77$15,586,040$5,319,628$3,783,078$11,596,718
78$17,115,463$5,519,937$3,849,459$12,577,570
79$18,798,987$5,728,161$3,916,162$13,651,694
80$20,652,269$5,944,626$3,983,139$14,828,367
81$22,692,563$6,169,675$4,050,337$16,117,800
82$24,938,881$6,403,666$4,117,699$17,531,240
83$27,412,170$6,646,969$4,185,166$19,081,069
84$30,135,516$6,899,975$4,252,673$20,780,923
85$33,134,352$7,163,087$4,320,152$22,645,818
86$36,436,708$7,436,731$4,387,529$24,692,292
87$40,073,468$7,721,346$4,454,726$26,938,558
88$44,078,664$8,017,394$4,521,662$29,404,674
89$48,489,798$8,325,356$4,588,248$32,112,733
90$53,348,193$8,645,735$4,654,390$35,087,069
91$58,699,386$8,979,053$4,719,989$38,354,484
92$64,593,556$9,325,859$4,784,942$41,944,500
93$71,085,997$9,686,724$4,849,135$45,889,639
94$78,237,639$10,062,244$4,912,451$50,225,720
95$86,115,626$10,453,042$4,974,766$54,992,206
96$94,793,946$10,859,768$5,035,948$60,232,564
97$104,354,133$11,283,101$5,095,857$65,994,682
98$114,886,033$11,723,751$5,154,345$72,331,313
99$126,488,650$12,182,457$5,211,258$79,300,573
100$139,271,089$12,659,993$5,266,431$86,966,487