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

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$223,789$221,796$219,851$217,953$216,099$211,996
2 years$110,787$108,723$106,724$104,785$102,904$98,787
3 years$73,124$71,052$69,057$67,137$65,287$61,283
4 years$54,297$52,231$50,256$48,368$46,563$42,703
5 years$43,003$40,950$39,001$37,151$35,397$31,692
6 years$35,476$33,438$31,518$29,710$28,008$24,464
7 years$30,102$28,081$26,192$24,426$22,778$19,394
8 years$26,074$24,071$22,213$20,491$18,897$15,672
9 years$22,942$20,958$19,132$17,454$15,914$12,847
10 years$20,438$18,474$16,680$15,045$13,559$10,647
11 years$18,391$16,446$14,684$13,094$11,661$8,901
12 years$16,686$14,761$13,032$11,485$10,106$7,492
13 years$15,244$13,340$11,643$10,140$8,812$6,342
14 years$14,010$12,125$10,462$9,001$7,725$5,393
15 years$12,941$11,077$9,445$8,027$6,801$4,604
16 years$12,006$10,163$8,564$7,187$6,011$3,943
17 years$11,183$9,359$7,793$6,458$5,330$3,386
18 years$10,451$8,649$7,114$5,820$4,739$2,914
19 years$9,798$8,015$6,512$5,259$4,224$2,512
20 years$9,210$7,448$5,977$4,763$3,773$2,170
21 years$8,680$6,938$5,497$4,322$3,376$1,877
22 years$8,198$6,476$5,067$3,930$3,026$1,625
23 years$7,758$6,057$4,678$3,579$2,717$1,409
24 years$7,356$5,675$4,326$3,264$2,442$1,222
25 years$6,987$5,326$4,007$2,981$2,197$1,061
26 years$6,646$5,005$3,716$2,726$1,979$922
27 years$6,332$4,711$3,451$2,495$1,784$801
28 years$6,040$4,439$3,208$2,286$1,610$697
29 years$5,769$4,187$2,985$2,096$1,454$606
30 years$5,516$3,955$2,781$1,924$1,314$528
31 years$5,281$3,738$2,593$1,767$1,188$460
32 years$5,060$3,537$2,419$1,624$1,074$400
33 years$4,853$3,350$2,259$1,493$972$349
34 years$4,659$3,175$2,110$1,374$880$304
35 years$4,476$3,011$1,973$1,265$797$265
36 years$4,304$2,858$1,846$1,165$722$231
37 years$4,142$2,715$1,727$1,073$655$201
38 years$3,988$2,580$1,618$989$594$175
39 years$3,843$2,453$1,516$912$538$153
40 years$3,705$2,334$1,421$841$488$133
41 years$3,574$2,222$1,332$776$443$116
42 years$3,450$2,116$1,250$716$402$101
43 years$3,332$2,016$1,172$661$365$89
44 years$3,220$1,922$1,101$611$331$77
45 years$3,113$1,833$1,033$564$301$67
46 years$3,011$1,748$971$521$273$59
47 years$2,913$1,668$912$481$248$51
48 years$2,820$1,593$857$445$225$45
49 years$2,731$1,521$805$411$204$39
50 years$2,646$1,453$757$380$186$34

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 $2,998 every year, while hoping to spend $36,689 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: 82/13/5 Blend
57$2,710,000$2,710,000$2,710,000$2,710,000
58$2,989,512$2,845,882$2,803,877$3,234,143
59$3,255,406$2,946,294$2,858,771$3,494,807
60$3,547,191$3,050,396$2,914,273$3,775,653
61$3,867,469$3,158,330$2,970,366$4,082,803
62$4,219,108$3,270,245$3,027,030$4,418,868
63$4,605,264$3,386,295$3,084,243$4,786,720
64$5,029,416$3,506,638$3,141,980$5,189,523
65$5,495,396$3,631,443$3,200,216$5,630,762
66$6,007,425$3,760,881$3,258,921$6,114,272
67$6,570,152$3,895,135$3,318,065$6,644,280
68$7,188,702$4,034,391$3,377,615$7,225,438
69$7,868,718$4,178,845$3,437,534$7,862,873
70$8,616,420$4,328,700$3,497,783$8,562,228
71$9,438,657$4,484,169$3,558,321$9,329,723
72$10,342,978$4,645,471$3,619,103$10,172,205
73$11,337,700$4,812,837$3,680,081$11,097,219
74$12,431,985$4,986,506$3,741,203$12,113,075
75$13,635,929$5,166,727$3,802,415$13,228,926
76$14,960,656$5,353,758$3,863,658$14,454,858
77$16,418,421$5,547,871$3,924,869$15,801,978
78$18,022,730$5,749,346$3,985,982$17,282,526
79$19,788,462$5,958,477$4,046,926$18,909,983
80$21,732,011$6,175,569$4,107,624$20,699,203
81$23,871,444$6,400,940$4,167,998$22,666,550
82$26,226,667$6,634,921$4,227,961$24,830,053
83$28,819,612$6,877,858$4,287,423$27,209,575
84$31,674,450$7,130,110$4,346,289$29,826,999
85$34,817,811$7,392,053$4,404,457$32,706,438
86$38,279,041$7,664,076$4,461,819$35,874,456
87$42,090,475$7,946,588$4,518,262$39,360,324
88$46,287,746$8,240,013$4,573,666$43,196,291
89$50,910,115$8,544,793$4,627,903$47,417,892
90$56,000,848$8,861,389$4,680,839$52,064,277
91$61,607,619$9,190,282$4,732,332$57,178,587
92$67,782,964$9,531,974$4,782,233$62,808,355
93$74,584,772$9,886,986$4,830,383$69,005,956
94$82,076,835$10,255,864$4,876,617$75,829,100
95$90,329,448$10,639,177$4,920,759$83,341,378
96$99,420,071$11,037,516$4,962,624$91,612,858
97$109,434,064$11,451,500$5,002,018$100,720,748
98$120,465,488$11,881,774$5,038,735$110,750,125
99$132,617,996$12,329,008$5,072,561$121,794,732
100$146,005,808$12,793,906$5,103,268$133,957,869