Can I retire at age 58 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$226,267$224,251$222,285$220,366$218,491$211,582
2 years$112,013$109,927$107,905$105,945$104,044$97,145
3 years$73,934$71,839$69,822$67,880$66,010$59,338
4 years$54,898$52,809$50,812$48,904$47,079$40,686
5 years$43,479$41,403$39,433$37,563$35,788$29,691
6 years$35,869$33,809$31,867$30,039$28,318$22,522
7 years$30,436$28,392$26,482$24,697$23,030$17,534
8 years$26,362$24,337$22,459$20,718$19,106$13,907
9 years$23,196$21,190$19,344$17,647$16,090$11,181
10 years$20,664$18,678$16,864$15,212$13,709$9,084
11 years$18,594$16,628$14,847$13,239$11,790$7,440
12 years$16,870$14,924$13,176$11,612$10,217$6,133
13 years$15,413$13,487$11,772$10,252$8,910$5,081
14 years$14,165$12,260$10,577$9,100$7,810$4,227
15 years$13,084$11,199$9,550$8,116$6,877$3,529
16 years$12,139$10,275$8,658$7,267$6,078$2,954
17 years$11,307$9,463$7,879$6,529$5,389$2,478
18 years$10,567$8,744$7,192$5,884$4,792$2,083
19 years$9,906$8,104$6,584$5,317$4,271$1,753
20 years$9,312$7,531$6,043$4,815$3,815$1,478
21 years$8,776$7,015$5,558$4,370$3,414$1,247
22 years$8,288$6,548$5,123$3,974$3,060$1,054
23 years$7,844$6,124$4,730$3,619$2,747$891
24 years$7,438$5,738$4,374$3,301$2,469$753
25 years$7,064$5,385$4,052$3,014$2,222$638
26 years$6,720$5,061$3,758$2,756$2,001$540
27 years$6,402$4,763$3,489$2,523$1,804$457
28 years$6,107$4,488$3,244$2,311$1,628$388
29 years$5,833$4,234$3,019$2,120$1,470$328
30 years$5,577$3,998$2,812$1,945$1,328$278
31 years$5,339$3,780$2,621$1,787$1,201$236
32 years$5,116$3,576$2,446$1,642$1,086$200
33 years$4,907$3,387$2,284$1,510$983$170
34 years$4,711$3,210$2,134$1,389$890$144
35 years$4,526$3,045$1,995$1,279$806$122
36 years$4,352$2,890$1,866$1,178$730$104
37 years$4,187$2,745$1,747$1,085$662$88
38 years$4,032$2,608$1,636$1,000$600$75
39 years$3,885$2,480$1,532$922$544$63
40 years$3,746$2,360$1,436$851$494$54
41 years$3,614$2,246$1,347$785$448$46
42 years$3,488$2,139$1,263$724$406$39
43 years$3,369$2,038$1,185$669$369$33
44 years$3,256$1,943$1,113$617$335$28
45 years$3,147$1,853$1,045$570$304$24
46 years$3,044$1,768$981$527$276$20
47 years$2,946$1,687$922$487$251$17
48 years$2,851$1,610$866$450$228$14
49 years$2,761$1,538$814$416$207$12
50 years$2,675$1,469$766$384$188$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,740,000, adding $6,581 every year, while hoping to spend $49,219 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: 44/32/24 Blend
57$2,740,000$2,740,000$2,740,000$2,740,000
58$3,026,268$2,881,048$2,838,578$3,138,103
59$3,282,579$2,969,851$2,881,302$3,306,847
60$3,563,384$3,061,355$2,923,807$3,484,376
61$3,871,129$3,155,642$2,966,035$3,675,837
62$4,208,509$3,252,794$3,007,922$3,882,548
63$4,578,492$3,352,895$3,049,402$4,105,960
64$4,984,345$3,456,034$3,090,404$4,347,670
65$5,429,669$3,562,300$3,130,854$4,609,435
66$5,918,429$3,671,787$3,170,671$4,893,190
67$6,454,993$3,784,588$3,209,773$5,201,064
68$7,044,172$3,900,803$3,248,070$5,535,400
69$7,691,267$4,020,532$3,285,469$5,898,780
70$8,402,116$4,143,878$3,321,873$6,294,045
71$9,183,151$4,270,947$3,357,175$6,724,324
72$10,041,459$4,401,850$3,391,266$7,193,062
73$10,984,845$4,536,698$3,424,031$7,704,053
74$12,021,910$4,675,607$3,455,347$8,261,476
75$13,162,129$4,818,696$3,485,085$8,869,934
76$14,415,941$4,966,086$3,513,110$9,534,496
77$15,794,846$5,117,904$3,539,279$10,260,744
78$17,311,518$5,274,278$3,563,442$11,054,830
79$18,979,915$5,435,341$3,585,440$11,923,529
80$20,815,423$5,601,228$3,605,108$12,874,304
81$22,834,987$5,772,080$3,622,271$13,915,376
82$25,057,284$5,948,040$3,636,745$15,055,804
83$27,502,889$6,129,256$3,648,337$16,305,565
84$30,194,473$6,315,879$3,656,846$17,675,655
85$33,157,016$6,508,064$3,662,057$19,178,184
86$36,418,044$6,705,972$3,663,749$20,826,498
87$40,007,886$6,909,766$3,661,686$22,635,300
88$43,959,961$7,119,614$3,655,623$24,620,789
89$48,311,092$7,335,691$3,645,301$26,800,816
90$53,101,856$7,558,172$3,630,451$29,195,048
91$58,376,963$7,787,241$3,610,789$31,825,155
92$64,185,681$8,023,083$3,586,019$34,715,015
93$70,582,297$8,265,891$3,555,827$37,890,938
94$77,626,634$8,515,862$3,519,889$41,381,917
95$85,384,608$8,773,197$3,477,863$45,219,897
96$93,928,857$9,038,103$3,429,391$49,440,079
97$103,339,423$9,310,792$3,374,098$54,081,252
98$113,704,506$9,591,483$3,311,592$59,186,159
99$125,121,299$9,880,398$3,241,463$64,801,901
100$137,696,900$10,177,766$3,163,281$70,980,378