Can I retire at age 58 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$218,009$216,067$214,172$212,323$210,517$208,841
2 years$107,925$105,915$103,967$102,078$100,246$98,556
3 years$71,235$69,217$67,274$65,403$63,600$61,949
4 years$52,894$50,882$48,958$47,119$45,360$43,761
5 years$41,892$39,892$37,993$36,192$34,482$32,939
6 years$34,560$32,575$30,704$28,943$27,285$25,800
7 years$29,325$27,356$25,515$23,796$22,190$20,764
8 years$25,400$23,449$21,639$19,961$18,408$17,041
9 years$22,349$20,417$18,638$17,003$15,503$14,194
10 years$19,910$17,996$16,249$14,657$13,209$11,958
11 years$17,916$16,021$14,305$12,756$11,360$10,166
12 years$16,255$14,380$12,695$11,188$9,844$8,706
13 years$14,850$12,995$11,343$9,878$8,585$7,501
14 years$13,648$11,812$10,191$8,768$7,525$6,495
15 years$12,606$10,791$9,201$7,820$6,626$5,647
16 years$11,696$9,900$8,342$7,002$5,856$4,928
17 years$10,894$9,118$7,591$6,291$5,192$4,313
18 years$10,181$8,425$6,930$5,669$4,617$3,784
19 years$9,545$7,808$6,344$5,123$4,115$3,328
20 years$8,973$7,256$5,822$4,640$3,676$2,932
21 years$8,455$6,759$5,355$4,211$3,289$2,588
22 years$7,986$6,309$4,936$3,829$2,948$2,287
23 years$7,558$5,901$4,557$3,487$2,647$2,024
24 years$7,166$5,528$4,215$3,180$2,379$1,794
25 years$6,806$5,188$3,904$2,904$2,141$1,591
26 years$6,475$4,876$3,620$2,656$1,928$1,412
27 years$6,168$4,589$3,362$2,431$1,738$1,254
28 years$5,884$4,324$3,125$2,227$1,569$1,115
29 years$5,620$4,079$2,908$2,042$1,416$991
30 years$5,374$3,852$2,709$1,874$1,280$882
31 years$5,144$3,642$2,526$1,721$1,157$785
32 years$4,929$3,446$2,356$1,582$1,047$700
33 years$4,728$3,263$2,200$1,455$947$623
34 years$4,539$3,093$2,056$1,339$858$556
35 years$4,361$2,934$1,922$1,232$777$495
36 years$4,193$2,784$1,798$1,135$704$442
37 years$4,035$2,645$1,683$1,046$638$394
38 years$3,885$2,513$1,576$964$578$351
39 years$3,743$2,390$1,476$889$524$314
40 years$3,609$2,274$1,384$820$476$280
41 years$3,482$2,164$1,298$756$432$250
42 years$3,361$2,061$1,217$698$392$223
43 years$3,246$1,964$1,142$644$355$199
44 years$3,137$1,872$1,072$595$323$178
45 years$3,032$1,785$1,007$549$293$159
46 years$2,933$1,703$946$507$266$142
47 years$2,838$1,625$888$469$241$127
48 years$2,747$1,551$835$433$219$113
49 years$2,661$1,482$785$400$199$101
50 years$2,578$1,415$738$370$181$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,640,000, adding $4,454 every year, while hoping to spend $57,478 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: 54/32/14 Blend
57$2,640,000$2,640,000$2,640,000$2,640,000
58$2,913,874$2,773,954$2,733,034$3,060,245
59$3,149,933$2,848,722$2,763,435$3,235,177
60$3,408,144$2,925,227$2,792,927$3,418,927
61$3,690,705$3,003,493$2,821,421$3,617,618
62$4,000,038$3,083,545$2,848,819$3,832,686
63$4,338,808$3,165,405$2,875,021$4,065,711
64$4,709,952$3,249,095$2,899,919$4,318,432
65$5,116,703$3,334,637$2,923,403$4,592,763
66$5,562,622$3,422,050$2,945,352$4,890,815
67$6,051,631$3,511,352$2,965,644$5,214,908
68$6,588,051$3,602,562$2,984,146$5,567,601
69$7,176,639$3,695,694$3,000,721$5,951,711
70$7,822,635$3,790,762$3,015,225$6,370,340
71$8,531,814$3,887,779$3,027,505$6,826,906
72$9,310,534$3,986,756$3,037,401$7,325,174
73$10,165,800$4,087,699$3,044,746$7,869,290
74$11,105,330$4,190,614$3,049,363$8,463,825
75$12,137,624$4,295,504$3,051,067$9,113,810
76$13,272,048$4,402,370$3,049,664$9,824,792
77$14,518,919$4,511,209$3,044,950$10,602,879
78$15,889,605$4,622,014$3,036,712$11,454,804
79$17,396,628$4,734,776$3,024,725$12,387,982
80$19,053,785$4,849,481$3,008,755$13,410,587
81$20,876,277$4,966,112$2,988,554$14,531,622
82$22,880,852$5,084,646$2,963,865$15,761,010
83$25,085,963$5,205,057$2,934,418$17,109,683
84$27,511,939$5,327,313$2,899,930$18,589,687
85$30,181,183$5,451,377$2,860,103$20,214,299
86$33,118,374$5,577,205$2,814,627$21,998,147
87$36,350,708$5,704,748$2,763,177$23,957,349
88$39,908,150$5,833,950$2,705,413$26,109,671
89$43,823,715$5,964,748$2,640,978$28,474,685
90$48,133,783$6,097,070$2,569,500$31,073,965
91$52,878,439$6,230,837$2,490,589$33,931,281
92$58,101,854$6,365,961$2,403,837$37,072,829
93$63,852,696$6,502,346$2,308,818$40,527,478
94$70,184,594$6,639,884$2,205,087$44,327,041
95$77,156,641$6,778,458$2,092,176$48,506,576
96$84,833,954$6,917,938$1,969,600$53,104,721
97$93,288,284$7,058,183$1,836,848$58,164,051
98$102,598,695$7,199,041$1,693,389$63,731,489
99$112,852,312$7,340,343$1,538,666$69,858,743
100$124,145,136$7,481,908$1,372,100$76,602,800