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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.6%
1 years$209,751$207,882$206,060$204,280$202,543$196,295
2 years$103,837$101,903$100,029$98,212$96,449$90,209
3 years$68,537$66,595$64,725$62,925$61,191$55,155
4 years$50,891$48,954$47,103$45,334$43,642$37,856
5 years$40,305$38,381$36,554$34,821$33,176$27,655
6 years$33,251$31,341$29,541$27,847$26,251$21,000
7 years$28,214$26,320$24,549$22,894$21,349$16,368
8 years$24,438$22,561$20,819$19,205$17,711$12,997
9 years$21,503$19,643$17,932$16,359$14,915$10,463
10 years$19,156$17,315$15,633$14,101$12,709$8,511
11 years$17,237$15,414$13,763$12,272$10,930$6,980
12 years$15,639$13,835$12,215$10,765$9,472$5,761
13 years$14,288$12,503$10,913$9,503$8,259$4,780
14 years$13,131$11,365$9,805$8,436$7,240$3,982
15 years$12,129$10,382$8,853$7,524$6,375$3,329
16 years$11,253$9,525$8,026$6,737$5,634$2,790
17 years$10,481$8,772$7,304$6,053$4,996$2,344
18 years$9,796$8,106$6,667$5,455$4,442$1,973
19 years$9,183$7,513$6,104$4,929$3,959$1,664
20 years$8,633$6,981$5,602$4,464$3,536$1,405
21 years$8,135$6,503$5,152$4,051$3,165$1,187
22 years$7,683$6,070$4,749$3,684$2,837$1,004
23 years$7,272$5,677$4,385$3,355$2,546$850
24 years$6,895$5,319$4,055$3,060$2,289$720
25 years$6,549$4,992$3,756$2,794$2,059$611
26 years$6,229$4,691$3,483$2,555$1,855$518
27 years$5,934$4,415$3,235$2,339$1,673$439
28 years$5,661$4,160$3,007$2,143$1,509$373
29 years$5,407$3,925$2,798$1,965$1,363$317
30 years$5,170$3,707$2,606$1,803$1,231$269
31 years$4,949$3,504$2,430$1,656$1,113$228
32 years$4,743$3,315$2,267$1,522$1,007$194
33 years$4,549$3,140$2,117$1,400$911$165
34 years$4,367$2,976$1,978$1,288$825$140
35 years$4,195$2,822$1,849$1,185$747$119
36 years$4,034$2,679$1,730$1,092$677$101
37 years$3,882$2,544$1,619$1,006$614$86
38 years$3,738$2,418$1,516$927$556$73
39 years$3,602$2,299$1,421$855$505$62
40 years$3,473$2,188$1,331$789$458$53
41 years$3,350$2,082$1,248$728$415$45
42 years$3,234$1,983$1,171$671$377$38
43 years$3,123$1,890$1,099$620$342$32
44 years$3,018$1,801$1,032$572$310$28
45 years$2,918$1,718$969$529$282$23
46 years$2,822$1,639$910$488$256$20
47 years$2,731$1,564$855$451$232$17
48 years$2,643$1,493$803$417$211$14
49 years$2,560$1,425$755$385$192$12
50 years$2,480$1,362$710$356$174$10

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 $6,074 every year, while hoping to spend $42,980 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: 51/32/17 Blend
57$2,540,000$2,540,000$2,540,000$2,540,000
58$2,805,345$2,670,725$2,631,355$2,935,025
59$3,045,760$2,755,860$2,673,775$3,109,991
60$3,309,257$2,843,727$2,716,176$3,295,131
61$3,598,144$2,934,413$2,758,511$3,495,480
62$3,914,965$3,028,009$2,800,732$3,712,489
63$4,262,522$3,124,611$2,842,786$3,947,755
64$4,643,898$3,224,316$2,884,618$4,203,034
65$5,062,492$3,327,224$2,926,169$4,480,260
66$5,522,047$3,433,440$2,967,377$4,781,562
67$6,026,688$3,543,070$3,008,176$5,109,280
68$6,580,956$3,656,226$3,048,496$5,465,993
69$7,189,855$3,773,022$3,088,262$5,854,539
70$7,858,897$3,893,578$3,127,395$6,278,042
71$8,594,155$4,018,014$3,165,814$6,739,941
72$9,402,320$4,146,457$3,203,430$7,244,024
73$10,290,761$4,279,039$3,240,149$7,794,461
74$11,267,600$4,415,893$3,275,876$8,395,843
75$12,341,783$4,557,159$3,310,505$9,053,228
76$13,523,166$4,702,981$3,343,928$9,772,184
77$14,822,610$4,853,508$3,376,031$10,558,846
78$16,252,079$5,008,893$3,406,691$11,419,968
79$17,824,758$5,169,295$3,435,782$12,362,990
80$19,555,171$5,334,879$3,463,169$13,396,108
81$21,459,324$5,505,813$3,488,710$14,528,350
82$23,554,850$5,682,273$3,512,257$15,769,658
83$25,861,180$5,864,440$3,533,653$17,130,986
84$28,399,723$6,052,501$3,552,733$18,624,401
85$31,194,070$6,246,648$3,569,325$20,263,196
86$34,270,214$6,447,083$3,583,246$22,062,016
87$37,656,797$6,654,011$3,594,306$24,036,992
88$41,385,379$6,867,646$3,602,303$26,205,899
89$45,490,734$7,088,207$3,607,027$28,588,319
90$50,011,184$7,315,924$3,608,257$31,205,826
91$54,988,951$7,551,031$3,605,761$34,082,190
92$60,470,565$7,793,772$3,599,295$37,243,599
93$66,507,295$8,044,399$3,588,603$40,718,908
94$73,155,636$8,303,172$3,573,418$44,539,909
95$80,477,843$8,570,359$3,553,460$48,741,631
96$88,542,515$8,846,239$3,528,433$53,362,672
97$97,425,246$9,131,099$3,498,030$58,445,557
98$107,209,334$9,425,236$3,461,927$64,037,147
99$117,986,570$9,728,957$3,419,786$70,189,073
100$129,858,105$10,042,580$3,371,253$76,958,228