Can I retire at age 58 with 2,590,000?

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 $2,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$213,880$211,975$210,116$208,302$206,530$202,443
2 years$105,881$103,909$101,998$100,145$98,348$94,247
3 years$69,886$67,906$65,999$64,164$62,396$58,410
4 years$51,892$49,918$48,031$46,226$44,501$40,661
5 years$41,099$39,136$37,274$35,506$33,829$30,145
6 years$33,905$31,958$30,123$28,395$26,768$23,244
7 years$28,769$26,838$25,032$23,345$21,769$18,406
8 years$24,919$23,005$21,229$19,583$18,060$14,857
9 years$21,926$20,030$18,285$16,681$15,209$12,164
10 years$19,533$17,656$15,941$14,379$12,959$10,069
11 years$17,576$15,718$14,034$12,514$11,145$8,406
12 years$15,947$14,107$12,455$10,976$9,658$7,067
13 years$14,569$12,749$11,128$9,691$8,422$5,974
14 years$13,389$11,588$9,998$8,602$7,383$5,074
15 years$12,368$10,586$9,027$7,672$6,500$4,325
16 years$11,475$9,713$8,184$6,869$5,745$3,699
17 years$10,688$8,945$7,448$6,172$5,094$3,171
18 years$9,989$8,266$6,799$5,562$4,529$2,725
19 years$9,364$7,660$6,224$5,026$4,037$2,346
20 years$8,803$7,118$5,712$4,552$3,606$2,024
21 years$8,295$6,631$5,254$4,131$3,227$1,747
22 years$7,835$6,189$4,842$3,756$2,892$1,511
23 years$7,415$5,789$4,471$3,421$2,596$1,308
24 years$7,030$5,424$4,135$3,120$2,334$1,133
25 years$6,677$5,090$3,830$2,849$2,100$982
26 years$6,352$4,784$3,552$2,605$1,892$852
27 years$6,051$4,502$3,298$2,385$1,705$739
28 years$5,773$4,242$3,066$2,185$1,539$642
29 years$5,513$4,002$2,853$2,004$1,390$558
30 years$5,272$3,780$2,658$1,839$1,256$484
31 years$5,047$3,573$2,478$1,689$1,135$421
32 years$4,836$3,381$2,312$1,552$1,027$366
33 years$4,638$3,202$2,159$1,427$929$318
34 years$4,453$3,034$2,017$1,313$841$277
35 years$4,278$2,878$1,886$1,209$762$241
36 years$4,114$2,732$1,764$1,113$690$210
37 years$3,958$2,594$1,651$1,026$626$183
38 years$3,811$2,466$1,546$945$567$159
39 years$3,673$2,345$1,448$872$514$138
40 years$3,541$2,231$1,358$804$467$120
41 years$3,416$2,123$1,273$742$423$105
42 years$3,297$2,022$1,194$685$384$91
43 years$3,185$1,927$1,121$632$349$79
44 years$3,077$1,837$1,052$584$316$69
45 years$2,975$1,751$988$539$287$60
46 years$2,877$1,671$928$498$261$52
47 years$2,784$1,594$871$460$237$46
48 years$2,695$1,522$819$425$215$40
49 years$2,610$1,454$770$393$195$35
50 years$2,529$1,388$724$363$177$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,590,000, adding $4,861 every year, while hoping to spend $33,340 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: 47/45/8 Blend
57$2,590,000$2,590,000$2,590,000$2,590,000
58$2,859,194$2,721,924$2,681,779$2,987,140
59$3,115,358$2,819,825$2,736,145$3,173,469
60$3,396,534$2,921,405$2,791,215$3,371,687
61$3,705,237$3,026,811$2,846,977$3,586,027
62$4,044,239$3,136,192$2,903,419$3,817,996
63$4,416,592$3,249,707$2,960,524$4,069,248
64$4,825,661$3,367,518$3,018,278$4,341,601
65$5,275,150$3,489,798$3,076,662$4,637,054
66$5,769,140$3,616,724$3,135,655$4,957,802
67$6,312,130$3,748,480$3,195,237$5,306,260
68$6,909,072$3,885,261$3,255,382$5,685,085
69$7,565,425$4,027,266$3,316,065$6,097,194
70$8,287,202$4,174,706$3,377,257$6,545,801
71$9,081,029$4,327,799$3,438,928$7,034,436
72$9,954,205$4,486,772$3,501,043$7,566,986
73$10,914,773$4,651,863$3,563,567$8,147,724
74$11,971,593$4,823,318$3,626,460$8,781,355
75$13,134,430$5,001,395$3,689,681$9,473,052
76$14,414,041$5,186,362$3,753,184$10,228,512
77$15,822,279$5,378,500$3,816,922$11,054,000
78$17,372,205$5,578,100$3,880,842$11,956,417
79$19,078,208$5,785,465$3,944,889$12,943,353
80$20,956,147$6,000,914$4,009,003$14,023,167
81$23,023,491$6,224,777$4,073,123$15,205,059
82$25,299,495$6,457,398$4,137,179$16,499,158
83$27,805,370$6,699,137$4,201,102$17,916,614
84$30,564,492$6,950,369$4,264,813$19,469,707
85$33,602,618$7,211,485$4,328,232$21,171,954
86$36,948,131$7,482,893$4,391,273$23,038,241
87$40,632,304$7,765,019$4,453,845$25,084,960
88$44,689,600$8,058,306$4,515,850$27,330,162
89$49,157,993$8,363,217$4,577,185$29,793,725
90$54,079,329$8,680,235$4,637,741$32,497,544
91$59,499,719$9,009,865$4,697,404$35,465,727
92$65,469,974$9,352,632$4,756,051$38,724,833
93$72,046,086$9,709,086$4,813,553$42,304,108
94$79,289,753$10,079,797$4,869,773$46,235,769
95$87,268,966$10,465,366$4,924,569$50,555,301
96$96,058,646$10,866,414$4,977,787$55,301,790
97$105,741,353$11,283,593$5,029,268$60,518,293
98$116,408,065$11,717,583$5,078,843$66,252,238
99$128,159,036$12,169,093$5,126,332$72,555,870
100$141,104,742$12,638,864$5,171,549$79,486,743