Can I retire at age 58 with 2,580,000?

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 $2,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$213,054$211,156$209,305$207,497$205,733$203,331
2 years$105,472$103,508$101,604$99,758$97,968$95,550
3 years$69,616$67,644$65,745$63,916$62,155$59,796
4 years$51,692$49,725$47,845$46,048$44,329$42,048
5 years$40,940$38,985$37,130$35,369$33,699$31,502
6 years$33,775$31,834$30,006$28,285$26,664$24,555
7 years$28,658$26,734$24,936$23,255$21,685$19,663
8 years$24,823$22,916$21,147$19,508$17,990$16,055
9 years$21,841$19,953$18,214$16,616$15,150$13,302
10 years$19,457$17,587$15,880$14,323$12,909$11,146
11 years$17,508$15,657$13,980$12,466$11,102$9,424
12 years$15,885$14,053$12,407$10,934$9,621$8,025
13 years$14,513$12,700$11,085$9,653$8,389$6,873
14 years$13,338$11,544$9,960$8,569$7,354$5,916
15 years$12,320$10,545$8,992$7,642$6,475$5,113
16 years$11,430$9,675$8,153$6,843$5,723$4,434
17 years$10,646$8,910$7,419$6,148$5,074$3,856
18 years$9,950$8,234$6,772$5,541$4,512$3,362
19 years$9,328$7,631$6,200$5,006$4,021$2,938
20 years$8,769$7,091$5,690$4,534$3,592$2,571
21 years$8,263$6,605$5,234$4,115$3,214$2,254
22 years$7,804$6,166$4,824$3,742$2,881$1,979
23 years$7,386$5,766$4,454$3,408$2,586$1,739
24 years$7,003$5,403$4,119$3,108$2,325$1,530
25 years$6,652$5,070$3,815$2,838$2,092$1,348
26 years$6,328$4,765$3,538$2,595$1,884$1,188
27 years$6,028$4,485$3,285$2,375$1,699$1,048
28 years$5,750$4,226$3,054$2,176$1,533$925
29 years$5,492$3,987$2,842$1,996$1,384$816
30 years$5,252$3,765$2,647$1,832$1,251$721
31 years$5,027$3,559$2,468$1,682$1,131$637
32 years$4,817$3,368$2,303$1,546$1,023$563
33 years$4,620$3,189$2,150$1,422$926$498
34 years$4,436$3,023$2,009$1,308$838$441
35 years$4,262$2,867$1,878$1,204$759$390
36 years$4,098$2,721$1,757$1,109$688$345
37 years$3,943$2,584$1,645$1,022$623$306
38 years$3,797$2,456$1,540$942$565$270
39 years$3,658$2,336$1,443$868$512$240
40 years$3,527$2,222$1,352$801$465$212
41 years$3,403$2,115$1,268$739$422$188
42 years$3,285$2,014$1,190$682$383$166
43 years$3,172$1,919$1,116$630$347$147
44 years$3,065$1,830$1,048$581$315$131
45 years$2,963$1,745$984$537$286$116
46 years$2,866$1,664$924$496$260$103
47 years$2,774$1,588$868$458$236$91
48 years$2,685$1,516$816$423$214$81
49 years$2,600$1,448$767$391$195$71
50 years$2,519$1,383$721$362$177$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,580,000, adding $5,372 every year, while hoping to spend $44,414 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: 58/29/13 Blend
57$2,580,000$2,580,000$2,580,000$2,580,000
58$2,848,701$2,711,961$2,671,971$3,004,344
59$3,092,013$2,797,591$2,714,226$3,195,689
60$3,358,653$2,885,928$2,756,408$3,398,771
61$3,650,956$2,977,059$2,798,467$3,619,092
62$3,971,489$3,071,071$2,840,352$3,858,314
63$4,323,083$3,168,055$2,882,006$4,118,266
64$4,708,855$3,268,107$2,923,370$4,400,961
65$5,132,237$3,371,323$2,964,382$4,708,615
66$5,597,011$3,477,804$3,004,975$5,043,665
67$6,107,342$3,587,653$3,045,078$5,408,797
68$6,667,820$3,700,976$3,084,617$5,806,967
69$7,283,498$3,817,885$3,123,512$6,241,427
70$7,959,946$3,938,492$3,161,680$6,715,761
71$8,703,297$4,062,915$3,199,034$7,233,914
72$9,520,311$4,191,275$3,235,479$7,800,230
73$10,418,432$4,323,697$3,270,917$8,419,491
74$11,405,864$4,460,310$3,305,244$9,096,968
75$12,491,644$4,601,247$3,338,351$9,838,461
76$13,685,728$4,746,644$3,370,123$10,650,362
77$14,999,086$4,896,644$3,400,436$11,539,709
78$16,443,806$5,051,393$3,429,164$12,514,254
79$18,033,204$5,211,041$3,456,170$13,582,537
80$19,781,952$5,375,743$3,481,313$14,753,964
81$21,706,218$5,545,661$3,504,444$16,038,898
82$23,823,813$5,720,960$3,525,404$17,448,753
83$26,154,366$5,901,811$3,544,029$18,996,104
84$28,719,501$6,088,389$3,560,144$20,694,804
85$31,543,048$6,280,878$3,573,567$22,560,114
86$34,651,263$6,479,465$3,584,105$24,608,848
87$38,073,077$6,684,344$3,591,557$26,859,529
88$41,840,368$6,895,714$3,595,712$29,332,566
89$45,988,264$7,113,783$3,596,347$32,050,443
90$50,555,471$7,338,762$3,593,228$35,037,934
91$55,584,640$7,570,872$3,586,112$38,322,334
92$61,122,768$7,810,339$3,574,742$41,933,717
93$67,221,642$8,057,398$3,558,848$45,905,218
94$73,938,329$8,312,290$3,538,149$50,273,348
95$81,335,711$8,575,265$3,512,349$55,078,334
96$89,483,079$8,846,578$3,481,138$60,364,502
97$98,456,789$9,126,497$3,444,192$66,180,693
98$108,340,981$9,415,294$3,401,171$72,580,724
99$119,228,370$9,713,252$3,351,720$79,623,893
100$131,221,126$10,020,664$3,295,465$87,375,543