Can I retire at age 58 with 2,630,000?

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 $2,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$217,183$215,248$213,361$211,519$209,720$204,567
2 years$107,516$105,514$103,573$101,692$99,867$94,707
3 years$70,966$68,955$67,019$65,155$63,359$58,354
4 years$52,694$50,689$48,773$46,940$45,189$40,376
5 years$41,734$39,741$37,849$36,055$34,352$29,746
6 years$34,429$32,451$30,588$28,833$27,181$22,787
7 years$29,214$27,253$25,419$23,705$22,106$17,923
8 years$25,304$23,360$21,557$19,886$18,339$14,366
9 years$22,265$20,339$18,567$16,938$15,444$11,677
10 years$19,835$17,928$16,187$14,601$13,159$9,594
11 years$17,848$15,960$14,251$12,707$11,317$7,950
12 years$16,193$14,325$12,647$11,146$9,807$6,631
13 years$14,794$12,946$11,300$9,840$8,552$5,561
14 years$13,596$11,767$10,153$8,735$7,497$4,684
15 years$12,559$10,750$9,167$7,790$6,601$3,960
16 years$11,652$9,863$8,311$6,975$5,834$3,358
17 years$10,853$9,083$7,563$6,267$5,173$2,854
18 years$10,143$8,393$6,904$5,648$4,599$2,431
19 years$9,509$7,779$6,320$5,103$4,099$2,075
20 years$8,939$7,228$5,800$4,622$3,662$1,773
21 years$8,423$6,733$5,335$4,195$3,277$1,517
22 years$7,956$6,285$4,917$3,814$2,937$1,300
23 years$7,529$5,878$4,540$3,474$2,637$1,114
24 years$7,139$5,508$4,199$3,168$2,370$956
25 years$6,781$5,169$3,889$2,893$2,132$821
26 years$6,450$4,858$3,607$2,645$1,921$705
27 years$6,145$4,572$3,349$2,421$1,732$606
28 years$5,862$4,308$3,113$2,219$1,563$521
29 years$5,599$4,064$2,897$2,035$1,411$448
30 years$5,354$3,838$2,699$1,867$1,275$386
31 years$5,125$3,628$2,516$1,715$1,153$332
32 years$4,911$3,433$2,347$1,576$1,043$286
33 years$4,710$3,251$2,192$1,449$944$246
34 years$4,521$3,081$2,048$1,333$854$212
35 years$4,344$2,922$1,915$1,227$774$183
36 years$4,177$2,774$1,791$1,130$701$157
37 years$4,019$2,635$1,676$1,042$635$135
38 years$3,870$2,504$1,570$960$576$117
39 years$3,729$2,381$1,471$885$522$101
40 years$3,596$2,265$1,379$816$474$87
41 years$3,469$2,156$1,293$753$430$75
42 years$3,348$2,054$1,213$695$390$64
43 years$3,234$1,957$1,138$642$354$55
44 years$3,125$1,865$1,068$593$321$48
45 years$3,021$1,778$1,003$547$292$41
46 years$2,922$1,697$942$506$265$36
47 years$2,827$1,619$885$467$241$31
48 years$2,737$1,546$832$432$218$26
49 years$2,650$1,476$782$399$198$23
50 years$2,568$1,410$735$369$180$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,630,000, adding $3,107 every year, while hoping to spend $52,937 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: 77/15/8 Blend
57$2,630,000$2,630,000$2,630,000$2,630,000
58$2,901,465$2,762,075$2,721,310$3,121,336
59$3,141,090$2,841,092$2,756,149$3,345,253
60$3,403,382$2,922,207$2,790,381$3,583,570
61$3,690,598$3,005,466$2,823,930$3,843,321
62$4,005,223$3,090,917$2,856,715$4,126,616
63$4,349,991$3,178,608$2,888,651$4,435,777
64$4,727,918$3,268,588$2,919,649$4,773,362
65$5,142,321$3,360,904$2,949,613$5,142,187
66$5,596,857$3,455,607$2,978,443$5,545,353
67$6,095,550$3,552,746$3,006,035$5,986,275
68$6,642,837$3,652,371$3,032,278$6,468,717
69$7,243,601$3,754,532$3,057,054$6,996,821
70$7,903,224$3,859,280$3,080,241$7,575,151
71$8,627,633$3,966,664$3,101,709$8,208,733
72$9,423,357$4,076,737$3,121,322$8,903,107
73$10,297,590$4,189,547$3,138,937$9,664,371
74$11,258,256$4,305,147$3,154,403$10,499,245
75$12,314,084$4,423,585$3,167,562$11,415,132
76$13,474,693$4,544,913$3,178,247$12,420,188
77$14,750,678$4,669,180$3,186,285$13,523,396
78$16,153,713$4,796,435$3,191,491$14,734,656
79$17,696,659$4,926,728$3,193,673$16,064,873
80$19,393,687$5,060,106$3,192,630$17,526,061
81$21,260,408$5,196,616$3,188,148$19,131,460
82$23,314,024$5,336,305$3,180,006$20,895,653
83$25,573,489$5,479,219$3,167,970$22,834,713
84$28,059,684$5,625,400$3,151,797$24,966,344
85$30,795,619$5,774,891$3,131,229$27,310,057
86$33,806,645$5,927,734$3,105,998$29,887,349
87$37,120,697$6,083,967$3,075,823$32,721,906
88$40,768,554$6,243,628$3,040,409$35,839,828
89$44,784,132$6,406,750$2,999,447$39,269,873
90$49,204,799$6,573,367$2,952,615$43,043,729
91$54,071,734$6,743,507$2,899,573$47,196,315
92$59,430,310$6,917,198$2,839,968$51,766,108
93$65,330,523$7,094,463$2,773,429$56,795,503
94$71,827,466$7,275,320$2,699,567$62,331,220
95$78,981,843$7,459,786$2,617,978$68,424,741
96$86,860,547$7,647,873$2,528,237$75,132,793
97$95,537,291$7,839,586$2,429,901$82,517,887
98$105,093,296$8,034,927$2,322,504$90,648,908
99$115,618,067$8,233,893$2,205,563$99,601,762
100$127,210,230$8,436,474$2,078,569$109,460,096