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%11.5%
1 years$217,183$215,248$213,361$211,519$209,720$208,398
2 years$107,516$105,514$103,573$101,692$99,867$98,533
3 years$70,966$68,955$67,019$65,155$63,359$62,056
4 years$52,694$50,689$48,773$46,940$45,189$43,925
5 years$41,734$39,741$37,849$36,055$34,352$33,132
6 years$34,429$32,451$30,588$28,833$27,181$26,006
7 years$29,214$27,253$25,419$23,705$22,106$20,976
8 years$25,304$23,360$21,557$19,886$18,339$17,255
9 years$22,265$20,339$18,567$16,938$15,444$14,406
10 years$19,835$17,928$16,187$14,601$13,159$12,166
11 years$17,848$15,960$14,251$12,707$11,317$10,368
12 years$16,193$14,325$12,647$11,146$9,807$8,902
13 years$14,794$12,946$11,300$9,840$8,552$7,689
14 years$13,596$11,767$10,153$8,735$7,497$6,675
15 years$12,559$10,750$9,167$7,790$6,601$5,819
16 years$11,652$9,863$8,311$6,975$5,834$5,092
17 years$10,853$9,083$7,563$6,267$5,173$4,469
18 years$10,143$8,393$6,904$5,648$4,599$3,932
19 years$9,509$7,779$6,320$5,103$4,099$3,468
20 years$8,939$7,228$5,800$4,622$3,662$3,064
21 years$8,423$6,733$5,335$4,195$3,277$2,713
22 years$7,956$6,285$4,917$3,814$2,937$2,405
23 years$7,529$5,878$4,540$3,474$2,637$2,135
24 years$7,139$5,508$4,199$3,168$2,370$1,897
25 years$6,781$5,169$3,889$2,893$2,132$1,688
26 years$6,450$4,858$3,607$2,645$1,921$1,503
27 years$6,145$4,572$3,349$2,421$1,732$1,339
28 years$5,862$4,308$3,113$2,219$1,563$1,194
29 years$5,599$4,064$2,897$2,035$1,411$1,065
30 years$5,354$3,838$2,699$1,867$1,275$951
31 years$5,125$3,628$2,516$1,715$1,153$850
32 years$4,911$3,433$2,347$1,576$1,043$759
33 years$4,710$3,251$2,192$1,449$944$679
34 years$4,521$3,081$2,048$1,333$854$607
35 years$4,344$2,922$1,915$1,227$774$543
36 years$4,177$2,774$1,791$1,130$701$486
37 years$4,019$2,635$1,676$1,042$635$435
38 years$3,870$2,504$1,570$960$576$389
39 years$3,729$2,381$1,471$885$522$348
40 years$3,596$2,265$1,379$816$474$312
41 years$3,469$2,156$1,293$753$430$279
42 years$3,348$2,054$1,213$695$390$250
43 years$3,234$1,957$1,138$642$354$224
44 years$3,125$1,865$1,068$593$321$201
45 years$3,021$1,778$1,003$547$292$180
46 years$2,922$1,697$942$506$265$161
47 years$2,827$1,619$885$467$241$145
48 years$2,737$1,546$832$432$218$130
49 years$2,650$1,476$782$399$198$116
50 years$2,568$1,410$735$369$180$104

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 $3,547 every year, while hoping to spend $22,219 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: 76/12/12 Blend
57$2,630,000$2,630,000$2,630,000$2,630,000
58$2,901,919$2,762,529$2,721,764$3,115,395
59$3,174,274$2,874,252$2,789,302$3,368,324
60$3,473,664$2,990,705$2,858,358$3,642,358
61$3,802,824$3,112,095$2,928,959$3,942,140
62$4,164,766$3,238,642$3,001,134$4,270,224
63$4,562,809$3,370,572$3,074,908$4,629,421
64$5,000,609$3,508,124$3,150,311$5,022,828
65$5,482,195$3,651,546$3,227,371$5,453,853
66$6,012,006$3,801,099$3,306,115$5,926,250
67$6,594,933$3,957,055$3,386,571$6,444,153
68$7,236,363$4,119,698$3,468,769$7,012,115
69$7,942,235$4,289,326$3,552,736$7,635,149
70$8,719,091$4,466,250$3,638,500$8,318,778
71$9,574,138$4,650,796$3,726,089$9,069,082
72$10,515,319$4,843,305$3,815,533$9,892,761
73$11,551,387$5,044,132$3,906,858$10,797,192
74$12,691,984$5,253,650$4,000,094$11,790,503
75$13,947,736$5,472,249$4,095,267$12,881,644
76$15,330,352$5,700,335$4,192,405$14,080,478
77$16,852,733$5,938,337$4,291,535$15,397,866
78$18,529,095$6,186,699$4,392,685$16,845,775
79$20,375,103$6,445,888$4,495,881$18,437,387
80$22,408,020$6,716,393$4,601,149$20,187,223
81$24,646,866$6,998,724$4,708,516$22,111,282
82$27,112,601$7,293,416$4,818,006$24,227,188
83$29,828,322$7,601,028$4,929,644$26,554,358
84$32,819,478$7,922,146$5,043,454$29,114,186
85$36,114,115$8,257,382$5,159,460$31,930,238
86$39,743,137$8,607,376$5,277,684$35,028,482
87$43,740,599$8,972,799$5,398,149$38,437,526
88$48,144,028$9,354,354$5,520,874$42,188,891
89$52,994,775$9,752,774$5,645,880$46,317,306
90$58,338,411$10,168,828$5,773,186$50,861,034
91$64,225,150$10,603,322$5,902,809$55,862,235
92$70,710,327$11,057,096$6,034,764$61,367,363
93$77,854,920$11,531,034$6,169,069$67,427,599
94$85,726,123$12,026,056$6,305,734$74,099,339
95$94,397,985$12,543,130$6,444,773$81,444,722
96$103,952,102$13,083,266$6,586,196$89,532,217
97$114,478,393$13,647,522$6,730,010$98,437,266
98$126,075,946$14,237,008$6,876,222$108,242,997
99$138,853,953$14,852,882$7,024,836$119,041,009
100$152,932,741$15,496,358$7,175,854$130,932,231