Can I retire at age 58 with 2,610,000?

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 $2,610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$215,531$213,612$211,738$209,910$208,125$200,821
2 years$106,699$104,712$102,786$100,918$99,107$91,825
3 years$70,426$68,430$66,509$64,659$62,878$55,846
4 years$52,293$50,303$48,402$46,583$44,845$38,118
5 years$41,416$39,438$37,562$35,781$34,090$27,686
6 years$34,167$32,204$30,355$28,614$26,975$20,897
7 years$28,992$27,045$25,225$23,525$21,938$16,186
8 years$25,112$23,183$21,393$19,735$18,199$12,769
9 years$22,095$20,185$18,426$16,810$15,326$10,210
10 years$19,684$17,792$16,064$14,490$13,059$8,249
11 years$17,712$15,839$14,143$12,611$11,231$6,717
12 years$16,070$14,216$12,551$11,061$9,733$5,503
13 years$14,682$12,847$11,214$9,765$8,487$4,532
14 years$13,493$11,678$10,076$8,669$7,440$3,747
15 years$12,463$10,668$9,097$7,731$6,550$3,108
16 years$11,563$9,788$8,248$6,922$5,789$2,584
17 years$10,770$9,014$7,505$6,220$5,133$2,154
18 years$10,066$8,329$6,851$5,605$4,564$1,798
19 years$9,436$7,720$6,272$5,065$4,068$1,504
20 years$8,871$7,173$5,756$4,587$3,634$1,259
21 years$8,359$6,682$5,294$4,163$3,252$1,055
22 years$7,895$6,237$4,880$3,785$2,915$885
23 years$7,472$5,834$4,505$3,447$2,617$743
24 years$7,085$5,466$4,167$3,144$2,352$624
25 years$6,729$5,129$3,859$2,871$2,116$524
26 years$6,401$4,821$3,579$2,625$1,906$441
27 years$6,098$4,537$3,324$2,403$1,719$370
28 years$5,817$4,275$3,090$2,202$1,551$312
29 years$5,556$4,033$2,875$2,019$1,400$262
30 years$5,313$3,809$2,678$1,853$1,265$221
31 years$5,086$3,600$2,497$1,702$1,144$186
32 years$4,873$3,407$2,330$1,564$1,035$156
33 years$4,674$3,226$2,175$1,438$936$132
34 years$4,487$3,058$2,032$1,323$848$111
35 years$4,311$2,900$1,900$1,218$768$93
36 years$4,145$2,753$1,778$1,122$696$79
37 years$3,989$2,615$1,664$1,034$631$66
38 years$3,841$2,485$1,558$953$572$56
39 years$3,701$2,363$1,460$879$518$47
40 years$3,568$2,248$1,368$810$470$40
41 years$3,442$2,140$1,283$748$427$33
42 years$3,323$2,038$1,203$690$387$28
43 years$3,209$1,942$1,129$637$351$24
44 years$3,101$1,851$1,060$588$319$20
45 years$2,998$1,765$995$543$290$17
46 years$2,900$1,684$935$502$263$14
47 years$2,806$1,607$878$463$239$12
48 years$2,716$1,534$825$428$217$10
49 years$2,630$1,465$776$396$197$8
50 years$2,548$1,399$729$366$179$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,610,000, adding $6,281 every year, while hoping to spend $30,637 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: 42/48/10 Blend
57$2,610,000$2,610,000$2,610,000$2,610,000
58$2,882,699$2,744,369$2,703,914$2,995,071
59$3,144,137$2,846,245$2,761,897$3,176,088
60$3,431,214$2,952,087$2,820,797$3,368,411
61$3,746,515$3,062,056$2,880,610$3,575,972
62$4,092,883$3,176,320$2,941,334$3,800,172
63$4,473,454$3,295,057$3,002,966$4,042,550
64$4,891,681$3,418,450$3,065,500$4,304,796
65$5,351,368$3,546,689$3,128,930$4,588,768
66$5,856,706$3,679,976$3,193,247$4,896,505
67$6,412,313$3,818,517$3,258,444$5,230,247
68$7,023,276$3,962,531$3,324,509$5,592,459
69$7,695,199$4,112,245$3,391,429$5,985,846
70$8,434,259$4,267,894$3,459,191$6,413,386
71$9,247,258$4,429,726$3,527,779$6,878,350
72$10,141,694$4,597,998$3,597,175$7,384,334
73$11,125,825$4,772,978$3,667,359$7,935,296
74$12,208,752$4,954,947$3,738,309$8,535,587
75$13,400,503$5,144,198$3,810,000$9,189,992
76$14,712,127$5,341,035$3,882,407$9,903,776
77$16,155,795$5,545,778$3,955,500$10,682,731
78$17,744,924$5,758,759$4,029,247$11,533,230
79$19,494,293$5,980,325$4,103,613$12,462,285
80$21,420,188$6,210,838$4,178,561$13,477,613
81$23,540,555$6,450,676$4,254,050$14,587,707
82$25,875,168$6,700,236$4,330,037$15,801,912
83$28,445,815$6,959,928$4,406,474$17,130,517
84$31,276,508$7,230,184$4,483,310$18,584,845
85$34,393,701$7,511,452$4,560,491$20,177,363
86$37,826,548$7,804,203$4,637,957$21,921,795
87$41,607,174$8,108,927$4,715,646$23,833,248
88$45,770,976$8,426,134$4,793,491$25,928,359
89$50,356,962$8,756,362$4,871,419$28,225,442
90$55,408,115$9,100,166$4,949,355$30,744,667
91$60,971,800$9,458,131$5,027,215$33,508,239
92$67,100,211$9,830,867$5,104,914$36,540,616
93$73,850,862$10,219,009$5,182,358$39,868,728
94$81,287,132$10,623,222$5,259,449$43,522,233
95$89,478,861$11,044,202$5,336,083$47,533,797
96$98,503,011$11,482,674$5,412,147$51,939,394
97$108,444,388$11,939,396$5,487,525$56,778,645
98$119,396,450$12,415,160$5,562,091$62,095,193
99$131,462,180$12,910,795$5,635,713$67,937,107
100$144,755,065$13,427,166$5,708,252$74,357,333