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%11.8%
1 years$223,789$221,796$219,851$217,953$216,099$214,468
2 years$110,787$108,723$106,724$104,785$102,904$101,260
3 years$73,124$71,052$69,057$67,137$65,287$63,680
4 years$54,297$52,231$50,256$48,368$46,563$45,006
5 years$43,003$40,950$39,001$37,151$35,397$33,894
6 years$35,476$33,438$31,518$29,710$28,008$26,562
7 years$30,102$28,081$26,192$24,426$22,778$21,389
8 years$26,074$24,071$22,213$20,491$18,897$17,565
9 years$22,942$20,958$19,132$17,454$15,914$14,638
10 years$20,438$18,474$16,680$15,045$13,559$12,340
11 years$18,391$16,446$14,684$13,094$11,661$10,497
12 years$16,686$14,761$13,032$11,485$10,106$8,996
13 years$15,244$13,340$11,643$10,140$8,812$7,755
14 years$14,010$12,125$10,462$9,001$7,725$6,719
15 years$12,941$11,077$9,445$8,027$6,801$5,846
16 years$12,006$10,163$8,564$7,187$6,011$5,105
17 years$11,183$9,359$7,793$6,458$5,330$4,471
18 years$10,451$8,649$7,114$5,820$4,739$3,926
19 years$9,798$8,015$6,512$5,259$4,224$3,455
20 years$9,210$7,448$5,977$4,763$3,773$3,046
21 years$8,680$6,938$5,497$4,322$3,376$2,691
22 years$8,198$6,476$5,067$3,930$3,026$2,380
23 years$7,758$6,057$4,678$3,579$2,717$2,108
24 years$7,356$5,675$4,326$3,264$2,442$1,869
25 years$6,987$5,326$4,007$2,981$2,197$1,659
26 years$6,646$5,005$3,716$2,726$1,979$1,473
27 years$6,332$4,711$3,451$2,495$1,784$1,310
28 years$6,040$4,439$3,208$2,286$1,610$1,165
29 years$5,769$4,187$2,985$2,096$1,454$1,037
30 years$5,516$3,955$2,781$1,924$1,314$924
31 years$5,281$3,738$2,593$1,767$1,188$823
32 years$5,060$3,537$2,419$1,624$1,074$734
33 years$4,853$3,350$2,259$1,493$972$654
34 years$4,659$3,175$2,110$1,374$880$584
35 years$4,476$3,011$1,973$1,265$797$521
36 years$4,304$2,858$1,846$1,165$722$465
37 years$4,142$2,715$1,727$1,073$655$415
38 years$3,988$2,580$1,618$989$594$370
39 years$3,843$2,453$1,516$912$538$331
40 years$3,705$2,334$1,421$841$488$296
41 years$3,574$2,222$1,332$776$443$264
42 years$3,450$2,116$1,250$716$402$236
43 years$3,332$2,016$1,172$661$365$211
44 years$3,220$1,922$1,101$611$331$188
45 years$3,113$1,833$1,033$564$301$168
46 years$3,011$1,748$971$521$273$150
47 years$2,913$1,668$912$481$248$135
48 years$2,820$1,593$857$445$225$120
49 years$2,731$1,521$805$411$204$108
50 years$2,646$1,453$757$380$186$96

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 $2,260 every year, while hoping to spend $20,892 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: 62/9/29 Blend
57$2,710,000$2,710,000$2,710,000$2,710,000
58$2,988,751$2,845,121$2,803,116$3,150,598
59$3,271,375$2,962,303$2,874,792$3,378,143
60$3,582,126$3,084,527$2,948,168$3,624,046
61$3,923,851$3,212,017$3,023,280$3,892,131
62$4,299,688$3,345,010$3,100,164$4,184,574
63$4,713,091$3,483,750$3,178,854$4,503,770
64$5,167,869$3,628,496$3,259,388$4,852,357
65$5,668,216$3,779,518$3,341,803$5,233,236
66$6,218,755$3,937,095$3,426,134$5,649,604
67$6,824,580$4,101,524$3,512,421$6,104,980
68$7,491,301$4,273,113$3,600,701$6,603,239
69$8,225,102$4,452,184$3,691,013$7,148,646
70$9,032,796$4,639,074$3,783,395$7,745,902
71$9,921,889$4,834,137$3,877,888$8,400,179
72$10,900,655$5,037,743$3,974,529$9,117,176
73$11,978,206$5,250,277$4,073,361$9,903,170
74$13,164,587$5,472,144$4,174,422$10,765,073
75$14,470,864$5,703,768$4,277,754$11,710,497
76$15,909,231$5,945,591$4,383,398$12,747,830
77$17,493,124$6,198,077$4,491,394$13,886,306
78$19,237,352$6,461,712$4,601,784$15,136,102
79$21,158,228$6,737,002$4,714,610$16,508,425
80$23,273,732$7,024,480$4,829,914$18,015,622
81$25,603,674$7,324,701$4,947,738$19,671,293
82$28,169,885$7,638,247$5,068,123$21,490,421
83$30,996,420$7,965,728$5,191,112$23,489,513
84$34,109,788$8,307,782$5,316,747$25,686,752
85$37,539,199$8,665,076$5,445,071$28,102,173
86$41,316,842$9,038,309$5,576,125$30,757,847
87$45,478,186$9,428,213$5,709,952$33,678,090
88$50,062,319$9,835,553$5,846,594$36,889,693
89$55,112,313$10,261,132$5,986,092$40,422,172
90$60,675,630$10,705,789$6,128,487$44,308,048
91$66,804,574$11,170,403$6,273,821$48,583,153
92$73,556,782$11,655,894$6,422,135$53,286,964
93$80,995,766$12,163,225$6,573,469$58,462,981
94$89,191,516$12,693,405$6,727,863$64,159,129
95$98,221,160$13,247,491$6,885,356$70,428,218
96$108,169,689$13,826,589$7,045,986$77,328,432
97$119,130,762$14,431,857$7,209,791$84,923,885
98$131,207,589$15,064,507$7,376,808$93,285,218
99$144,513,906$15,725,810$7,547,073$102,490,272
100$159,175,045$16,417,096$7,720,622$112,624,815