Can I retire at age 58 with 2,670,000?

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 $2,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$220,486$218,522$216,606$214,736$212,910$208,611
2 years$109,152$107,119$105,149$103,238$101,385$97,073
3 years$72,045$70,003$68,038$66,146$64,323$60,132
4 years$53,495$51,460$49,514$47,654$45,876$41,838
5 years$42,368$40,345$38,425$36,603$34,874$31,002
6 years$34,953$32,945$31,053$29,272$27,595$23,891
7 years$29,658$27,667$25,805$24,066$22,442$18,908
8 years$25,689$23,716$21,885$20,188$18,618$15,253
9 years$22,603$20,649$18,850$17,196$15,679$12,481
10 years$20,136$18,201$16,433$14,823$13,359$10,325
11 years$18,119$16,203$14,468$12,901$11,489$8,615
12 years$16,439$14,543$12,840$11,316$9,956$7,238
13 years$15,019$13,143$11,471$9,990$8,682$6,114
14 years$13,803$11,946$10,307$8,868$7,611$5,189
15 years$12,750$10,913$9,306$7,909$6,701$4,420
16 years$11,829$10,013$8,437$7,081$5,922$3,778
17 years$11,018$9,221$7,678$6,362$5,251$3,237
18 years$10,297$8,521$7,009$5,734$4,669$2,779
19 years$9,653$7,897$6,416$5,181$4,162$2,391
20 years$9,074$7,338$5,888$4,692$3,717$2,061
21 years$8,552$6,835$5,416$4,259$3,327$1,778
22 years$8,077$6,381$4,992$3,872$2,982$1,536
23 years$7,644$5,968$4,609$3,526$2,677$1,328
24 years$7,248$5,591$4,263$3,216$2,406$1,150
25 years$6,884$5,247$3,948$2,937$2,165$996
26 years$6,548$4,931$3,662$2,686$1,950$863
27 years$6,238$4,641$3,400$2,458$1,758$749
28 years$5,951$4,373$3,161$2,252$1,586$649
29 years$5,684$4,126$2,941$2,065$1,432$564
30 years$5,435$3,896$2,740$1,896$1,294$489
31 years$5,203$3,683$2,554$1,741$1,170$425
32 years$4,985$3,485$2,383$1,600$1,059$369
33 years$4,782$3,300$2,225$1,471$958$321
34 years$4,590$3,128$2,079$1,354$867$279
35 years$4,410$2,967$1,944$1,246$786$242
36 years$4,241$2,816$1,818$1,148$712$211
37 years$4,080$2,675$1,702$1,057$645$183
38 years$3,929$2,542$1,594$975$585$159
39 years$3,786$2,417$1,493$899$530$139
40 years$3,650$2,300$1,400$829$481$121
41 years$3,522$2,189$1,312$765$436$105
42 years$3,399$2,085$1,231$706$396$91
43 years$3,283$1,986$1,155$652$359$79
44 years$3,172$1,893$1,084$602$326$69
45 years$3,067$1,806$1,018$556$296$60
46 years$2,966$1,722$956$513$269$52
47 years$2,870$1,644$898$474$244$46
48 years$2,779$1,569$844$438$222$40
49 years$2,691$1,498$794$405$201$34
50 years$2,607$1,431$746$374$183$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,670,000, adding $6,080 every year, while hoping to spend $37,172 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: 45/36/19 Blend
57$2,670,000$2,670,000$2,670,000$2,670,000
58$2,948,612$2,807,102$2,765,717$3,064,942
59$3,209,819$2,905,099$2,818,817$3,245,113
60$3,496,424$3,006,652$2,872,451$3,436,210
61$3,810,978$3,111,896$2,926,597$3,642,663
62$4,156,290$3,220,972$2,981,230$3,865,916
63$4,535,457$3,334,025$3,036,327$4,107,553
64$4,951,889$3,451,207$3,091,859$4,369,317
65$5,409,342$3,572,677$3,147,796$4,653,126
66$5,911,954$3,698,597$3,204,107$4,961,086
67$6,464,285$3,829,140$3,260,756$5,295,517
68$7,071,357$3,964,483$3,317,707$5,658,970
69$7,738,704$4,104,811$3,374,918$6,054,250
70$8,472,421$4,250,316$3,432,347$6,484,444
71$9,279,224$4,401,198$3,489,947$6,952,951
72$10,166,514$4,557,666$3,547,670$7,463,507
73$11,142,444$4,719,936$3,605,461$8,020,229
74$12,215,994$4,888,234$3,663,265$8,627,644
75$13,397,063$5,062,795$3,721,022$9,290,737
76$14,696,555$5,243,864$3,778,668$10,014,997
77$16,126,484$5,431,694$3,836,134$10,806,462
78$17,700,089$5,626,550$3,893,348$11,671,785
79$19,431,955$5,828,708$3,950,232$12,618,288
80$21,338,155$6,038,456$4,006,706$13,654,033
81$23,436,398$6,256,091$4,062,682$14,787,899
82$25,746,197$6,481,926$4,118,068$16,029,661
83$28,289,053$6,716,284$4,172,767$17,390,085
84$31,088,658$6,959,504$4,226,676$18,881,027
85$34,171,118$7,211,935$4,279,686$20,515,545
86$37,565,197$7,473,946$4,331,681$22,308,020
87$41,302,595$7,745,917$4,382,540$24,274,291
88$45,418,238$8,028,245$4,432,134$26,431,803
89$49,950,615$8,321,345$4,480,326$28,799,772
90$54,942,134$8,625,648$4,526,974$31,399,365
91$60,439,531$8,941,604$4,571,926$34,253,896
92$66,494,301$9,269,680$4,615,024$37,389,049
93$73,163,190$9,610,365$4,656,097$40,833,115
94$80,508,730$9,964,167$4,694,971$44,617,261
95$88,599,826$10,331,617$4,731,458$48,775,822
96$97,512,408$10,713,267$4,765,363$53,346,622
97$107,330,150$11,109,693$4,796,478$58,371,331
98$118,145,252$11,521,495$4,824,587$63,895,856
99$130,059,319$11,949,299$4,849,462$69,970,774
100$143,184,313$12,393,759$4,870,863$76,651,807