Can I retire at age 58 with 2,560,000?

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 $2,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$211,402$209,519$207,682$205,889$204,138$196,817
2 years$104,655$102,706$100,817$98,985$97,209$89,912
3 years$69,077$67,119$65,235$63,421$61,673$54,630
4 years$51,291$49,340$47,474$45,691$43,986$37,250
5 years$40,623$38,683$36,842$35,095$33,437$27,027
6 years$33,513$31,588$29,774$28,066$26,458$20,377
7 years$28,436$26,527$24,742$23,074$21,517$15,765
8 years$24,630$22,739$20,983$19,357$17,851$12,423
9 years$21,672$19,798$18,073$16,488$15,033$9,921
10 years$19,307$17,451$15,756$14,212$12,809$8,005
11 years$17,373$15,536$13,872$12,369$11,016$6,510
12 years$15,762$13,944$12,311$10,849$9,546$5,327
13 years$14,400$12,601$10,999$9,578$8,324$4,380
14 years$13,234$11,454$9,883$8,503$7,297$3,616
15 years$12,224$10,464$8,923$7,583$6,425$2,995
16 years$11,342$9,600$8,090$6,790$5,678$2,487
17 years$10,564$8,841$7,361$6,100$5,035$2,070
18 years$9,873$8,170$6,720$5,498$4,477$1,726
19 years$9,256$7,572$6,152$4,968$3,990$1,441
20 years$8,701$7,036$5,646$4,499$3,564$1,204
21 years$8,199$6,554$5,193$4,083$3,190$1,008
22 years$7,744$6,118$4,786$3,713$2,859$844
23 years$7,329$5,722$4,419$3,381$2,566$707
24 years$6,949$5,361$4,087$3,084$2,307$593
25 years$6,600$5,031$3,785$2,816$2,076$497
26 years$6,278$4,728$3,511$2,575$1,870$417
27 years$5,981$4,450$3,260$2,357$1,686$350
28 years$5,706$4,193$3,031$2,160$1,521$294
29 years$5,450$3,956$2,820$1,980$1,373$247
30 years$5,211$3,736$2,627$1,817$1,241$208
31 years$4,988$3,532$2,449$1,669$1,122$175
32 years$4,780$3,342$2,285$1,534$1,015$147
33 years$4,585$3,164$2,134$1,411$918$123
34 years$4,401$2,999$1,993$1,298$832$104
35 years$4,229$2,845$1,864$1,195$753$87
36 years$4,066$2,700$1,743$1,100$682$73
37 years$3,912$2,564$1,632$1,014$619$62
38 years$3,767$2,437$1,528$935$561$52
39 years$3,630$2,317$1,432$862$509$44
40 years$3,500$2,205$1,342$795$461$37
41 years$3,376$2,099$1,258$733$418$31
42 years$3,259$1,999$1,180$677$380$26
43 years$3,148$1,905$1,108$625$345$22
44 years$3,042$1,815$1,040$577$313$18
45 years$2,941$1,731$976$533$284$15
46 years$2,844$1,651$917$492$258$13
47 years$2,752$1,576$861$455$234$11
48 years$2,664$1,504$809$420$213$9
49 years$2,580$1,437$761$388$193$8
50 years$2,499$1,372$715$359$175$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,560,000, adding $3,351 every year, while hoping to spend $21,347 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: 64/12/24 Blend
57$2,560,000$2,560,000$2,560,000$2,560,000
58$2,824,577$2,688,897$2,649,217$2,987,434
59$3,089,970$2,797,939$2,715,252$3,206,789
60$3,381,719$2,911,610$2,782,785$3,443,670
61$3,702,488$3,030,112$2,851,842$3,702,006
62$4,055,214$3,153,660$2,922,450$3,983,903
63$4,443,132$3,282,476$2,994,640$4,291,677
64$4,869,809$3,416,795$3,068,437$4,627,881
65$5,339,171$3,556,859$3,143,871$4,995,321
66$5,855,546$3,702,925$3,220,971$5,397,089
67$6,423,703$3,855,260$3,299,764$5,836,588
68$7,048,895$4,014,141$3,380,280$6,317,567
69$7,736,910$4,179,862$3,462,548$6,844,152
70$8,494,127$4,352,728$3,546,596$7,420,887
71$9,327,574$4,533,058$3,632,453$8,052,777
72$10,244,995$4,721,186$3,720,148$8,745,331
73$11,254,922$4,917,461$3,809,710$9,504,619
74$12,366,757$5,122,250$3,901,168$10,337,325
75$13,590,860$5,335,934$3,994,551$11,250,812
76$14,938,646$5,558,913$4,089,887$12,253,188
77$16,422,694$5,791,606$4,187,205$13,353,383
78$18,056,865$6,034,451$4,286,532$14,561,236
79$19,856,431$6,287,905$4,387,897$15,887,584
80$21,838,223$6,552,448$4,491,327$17,344,363
81$24,020,786$6,828,582$4,596,851$18,944,723
82$26,424,554$7,116,830$4,704,493$20,703,149
83$29,072,046$7,417,743$4,814,282$22,635,599
84$31,988,077$7,731,894$4,926,242$24,759,653
85$35,199,989$8,059,885$5,040,400$27,094,676
86$38,737,914$8,402,346$5,156,779$29,662,007
87$42,635,054$8,759,934$5,275,404$32,485,150
88$46,927,998$9,133,338$5,396,298$35,590,003
89$51,657,063$9,523,281$5,519,483$39,005,098
90$56,866,678$9,930,517$5,644,981$42,761,871
91$62,605,804$10,355,837$5,772,812$46,894,955
92$68,928,389$10,800,066$5,902,995$51,442,512
93$75,893,888$11,264,072$6,035,548$56,446,584
94$83,567,813$11,748,761$6,170,488$61,953,496
95$92,022,361$12,255,081$6,307,830$68,014,289
96$101,337,087$12,784,025$6,447,588$74,685,201
97$111,599,662$13,336,634$6,589,773$82,028,198
98$122,906,694$13,913,996$6,734,397$90,111,557
99$135,364,645$14,517,250$6,881,468$99,010,507
100$149,090,833$15,147,590$7,030,992$108,807,945