Can I retire at age 58 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$216,357$214,430$212,550$210,714$208,922$204,038
2 years$107,108$105,113$103,179$101,305$99,487$94,593
3 years$70,696$68,692$66,764$64,907$63,119$58,369
4 years$52,493$50,496$48,587$46,762$45,017$40,448
5 years$41,575$39,590$37,706$35,918$34,221$29,846
6 years$34,298$32,328$30,472$28,724$27,078$22,900
7 years$29,103$27,149$25,322$23,615$22,022$18,043
8 years$25,208$23,272$21,475$19,810$18,269$14,487
9 years$22,180$20,262$18,497$16,874$15,385$11,797
10 years$19,759$17,860$16,126$14,546$13,109$9,711
11 years$17,780$15,900$14,197$12,659$11,274$8,062
12 years$16,132$14,271$12,599$11,104$9,770$6,738
13 years$14,738$12,897$11,257$9,803$8,520$5,662
14 years$13,544$11,723$10,114$8,702$7,468$4,779
15 years$12,511$10,709$9,132$7,761$6,576$4,049
16 years$11,608$9,825$8,279$6,949$5,812$3,440
17 years$10,811$9,049$7,534$6,243$5,153$2,931
18 years$10,104$8,361$6,877$5,627$4,582$2,502
19 years$9,472$7,749$6,296$5,084$4,084$2,140
20 years$8,905$7,201$5,778$4,605$3,648$1,833
21 years$8,391$6,707$5,315$4,179$3,264$1,572
22 years$7,925$6,261$4,898$3,800$2,926$1,350
23 years$7,501$5,856$4,523$3,460$2,627$1,160
24 years$7,112$5,487$4,183$3,156$2,361$998
25 years$6,755$5,149$3,874$2,882$2,124$859
26 years$6,426$4,839$3,593$2,635$1,914$739
27 years$6,121$4,554$3,336$2,412$1,725$637
28 years$5,839$4,291$3,102$2,210$1,557$549
29 years$5,577$4,048$2,886$2,027$1,406$473
30 years$5,333$3,823$2,689$1,860$1,270$408
31 years$5,105$3,614$2,506$1,708$1,148$352
32 years$4,892$3,420$2,339$1,570$1,039$304
33 years$4,692$3,239$2,184$1,444$940$263
34 years$4,504$3,070$2,040$1,328$851$227
35 years$4,328$2,911$1,907$1,223$771$196
36 years$4,161$2,763$1,784$1,126$698$169
37 years$4,004$2,625$1,670$1,038$633$146
38 years$3,856$2,494$1,564$956$574$126
39 years$3,715$2,372$1,465$882$520$109
40 years$3,582$2,257$1,373$813$472$94
41 years$3,456$2,148$1,288$750$428$81
42 years$3,336$2,046$1,208$693$389$70
43 years$3,222$1,949$1,134$639$353$61
44 years$3,113$1,858$1,064$590$320$52
45 years$3,009$1,772$999$545$291$45
46 years$2,911$1,690$938$504$264$39
47 years$2,817$1,613$882$465$240$34
48 years$2,726$1,540$828$430$218$29
49 years$2,640$1,470$779$397$198$25
50 years$2,558$1,405$732$367$180$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,620,000, adding $5,047 every year, while hoping to spend $25,150 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: 66/6/28 Blend
57$2,620,000$2,620,000$2,620,000$2,620,000
58$2,892,446$2,753,586$2,712,976$3,061,711
59$3,160,716$2,861,752$2,777,101$3,284,739
60$3,455,507$2,974,376$2,842,532$3,525,237
61$3,779,497$3,091,648$2,909,285$3,787,648
62$4,135,637$3,213,771$2,977,377$4,074,138
63$4,527,178$3,340,952$3,046,826$4,387,089
64$4,957,702$3,473,410$3,117,646$4,729,125
65$5,431,155$3,611,375$3,189,855$5,103,135
66$5,951,885$3,755,085$3,263,468$5,512,300
67$6,524,683$3,904,789$3,338,499$5,960,126
68$7,154,825$4,060,748$3,414,963$6,450,470
69$7,848,128$4,223,235$3,492,875$6,987,585
70$8,610,998$4,392,535$3,572,247$7,576,151
71$9,450,495$4,568,944$3,653,093$8,221,327
72$10,374,398$4,752,775$3,735,424$8,928,793
73$11,391,277$4,944,352$3,819,251$9,704,806
74$12,510,577$5,144,015$3,904,586$10,556,260
75$13,742,703$5,352,119$3,991,437$11,490,748
76$15,099,122$5,569,036$4,079,813$12,516,636
77$16,592,467$5,795,153$4,169,722$13,643,139
78$18,236,661$6,030,878$4,261,169$14,880,410
79$20,047,042$6,276,633$4,354,161$16,239,636
80$22,040,516$6,532,863$4,448,700$17,733,138
81$24,235,706$6,800,031$4,544,789$19,374,495
82$26,653,139$7,078,623$4,642,430$21,178,665
83$29,315,429$7,369,146$4,741,622$23,162,129
84$32,247,499$7,672,130$4,842,362$25,343,045
85$35,476,809$7,988,130$4,944,647$27,741,421
86$39,033,621$8,317,726$5,048,470$30,379,301
87$42,951,281$8,661,524$5,153,824$33,280,974
88$47,266,533$9,020,160$5,260,698$36,473,203
89$52,019,869$9,394,298$5,369,081$39,985,476
90$57,255,908$9,784,631$5,478,958$43,850,286
91$63,023,818$10,191,885$5,590,310$48,103,434
92$69,377,781$10,616,821$5,703,119$52,784,369
93$76,377,502$11,060,233$5,817,361$57,936,561
94$84,088,775$11,522,952$5,933,011$63,607,908
95$92,584,103$12,005,849$6,050,039$69,851,187
96$101,943,379$12,509,834$6,168,414$76,724,557
97$112,254,647$13,035,858$6,288,098$84,292,102
98$123,614,924$13,584,919$6,409,053$92,624,436
99$136,131,124$14,158,058$6,531,234$101,799,374
100$149,921,062$14,756,366$6,654,593$111,902,659