Can I retire at age 58 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$223,789$221,796$219,851$217,953$216,099$209,014
2 years$110,787$108,723$106,724$104,785$102,904$95,834
3 years$73,124$71,052$69,057$67,137$65,287$58,453
4 years$54,297$52,231$50,256$48,368$46,563$40,018
5 years$43,003$40,950$39,001$37,151$35,397$29,158
6 years$35,476$33,438$31,518$29,710$28,008$22,081
7 years$30,102$28,081$26,192$24,426$22,778$17,162
8 years$26,074$24,071$22,213$20,491$18,897$13,587
9 years$22,942$20,958$19,132$17,454$15,914$10,904
10 years$20,438$18,474$16,680$15,045$13,559$8,843
11 years$18,391$16,446$14,684$13,094$11,661$7,228
12 years$16,686$14,761$13,032$11,485$10,106$5,946
13 years$15,244$13,340$11,643$10,140$8,812$4,917
14 years$14,010$12,125$10,462$9,001$7,725$4,082
15 years$12,941$11,077$9,445$8,027$6,801$3,400
16 years$12,006$10,163$8,564$7,187$6,011$2,840
17 years$11,183$9,359$7,793$6,458$5,330$2,377
18 years$10,451$8,649$7,114$5,820$4,739$1,994
19 years$9,798$8,015$6,512$5,259$4,224$1,675
20 years$9,210$7,448$5,977$4,763$3,773$1,408
21 years$8,680$6,938$5,497$4,322$3,376$1,186
22 years$8,198$6,476$5,067$3,930$3,026$999
23 years$7,758$6,057$4,678$3,579$2,717$843
24 years$7,356$5,675$4,326$3,264$2,442$711
25 years$6,987$5,326$4,007$2,981$2,197$600
26 years$6,646$5,005$3,716$2,726$1,979$507
27 years$6,332$4,711$3,451$2,495$1,784$429
28 years$6,040$4,439$3,208$2,286$1,610$362
29 years$5,769$4,187$2,985$2,096$1,454$306
30 years$5,516$3,955$2,781$1,924$1,314$259
31 years$5,281$3,738$2,593$1,767$1,188$219
32 years$5,060$3,537$2,419$1,624$1,074$185
33 years$4,853$3,350$2,259$1,493$972$157
34 years$4,659$3,175$2,110$1,374$880$133
35 years$4,476$3,011$1,973$1,265$797$112
36 years$4,304$2,858$1,846$1,165$722$95
37 years$4,142$2,715$1,727$1,073$655$80
38 years$3,988$2,580$1,618$989$594$68
39 years$3,843$2,453$1,516$912$538$58
40 years$3,705$2,334$1,421$841$488$49
41 years$3,574$2,222$1,332$776$443$41
42 years$3,450$2,116$1,250$716$402$35
43 years$3,332$2,016$1,172$661$365$30
44 years$3,220$1,922$1,101$611$331$25
45 years$3,113$1,833$1,033$564$301$21
46 years$3,011$1,748$971$521$273$18
47 years$2,913$1,668$912$481$248$15
48 years$2,820$1,593$857$445$225$13
49 years$2,731$1,521$805$411$204$11
50 years$2,646$1,453$757$380$186$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,710,000, adding $5,485 every year, while hoping to spend $53,248 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: 47/31/22 Blend
57$2,710,000$2,710,000$2,710,000$2,710,000
58$2,992,078$2,848,448$2,806,443$3,113,706
59$3,240,614$2,931,366$2,843,803$3,282,284
60$3,512,717$3,016,563$2,880,630$3,459,422
61$3,810,733$3,104,094$2,916,851$3,650,605
62$4,137,248$3,194,014$2,952,385$3,857,175
63$4,495,109$3,286,383$2,987,152$4,080,606
64$4,887,451$3,381,257$3,021,062$4,322,520
65$5,317,728$3,478,695$3,054,025$4,584,706
66$5,789,744$3,578,759$3,085,943$4,869,130
67$6,307,688$3,681,508$3,116,712$5,177,959
68$6,876,175$3,787,005$3,146,224$5,513,580
69$7,500,288$3,895,312$3,174,367$5,878,618
70$8,185,628$4,006,492$3,201,018$6,275,969
71$8,938,362$4,120,610$3,226,052$6,708,819
72$9,765,285$4,237,731$3,249,335$7,180,679
73$10,673,884$4,357,919$3,270,728$7,695,415
74$11,672,405$4,481,242$3,290,082$8,257,287
75$12,769,933$4,607,766$3,307,242$8,870,987
76$13,976,478$4,737,558$3,322,047$9,541,684
77$15,303,067$4,870,686$3,334,323$10,275,074
78$16,761,849$5,007,219$3,343,892$11,077,430
79$18,366,209$5,147,225$3,350,565$11,955,665
80$20,130,896$5,290,772$3,354,142$12,917,395
81$22,072,158$5,437,931$3,354,416$13,971,010
82$24,207,898$5,588,769$3,351,169$15,125,757
83$26,557,841$5,743,356$3,344,171$16,391,822
84$29,143,722$5,901,762$3,333,181$17,780,431
85$31,989,487$6,064,054$3,317,949$19,303,953
86$35,121,523$6,230,301$3,298,209$20,976,015
87$38,568,904$6,400,571$3,273,684$22,811,636
88$42,363,665$6,574,932$3,244,085$24,827,365
89$46,541,104$6,753,449$3,209,108$27,041,436
90$51,140,118$6,936,189$3,168,433$29,473,945
91$56,203,563$7,123,215$3,121,729$32,147,035
92$61,778,664$7,314,591$3,068,645$35,085,106
93$67,917,460$7,510,377$3,008,816$38,315,049
94$74,677,290$7,710,635$2,941,861$41,866,494
95$82,121,338$7,915,421$2,867,378$45,772,096
96$90,319,229$8,124,791$2,784,949$50,067,839
97$99,347,683$8,338,798$2,694,137$54,793,378
98$109,291,239$8,557,491$2,594,484$59,992,411
99$120,243,056$8,780,919$2,485,509$65,713,096
100$132,305,787$9,009,124$2,366,714$72,008,502