Can I retire at age 58 with 2,760,000?

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 $2,760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$227,918$225,888$223,907$221,974$220,086$217,156
2 years$112,831$110,729$108,693$106,718$104,803$101,856
3 years$74,473$72,363$70,331$68,375$66,491$63,618
4 years$55,298$53,194$51,183$49,261$47,422$44,646
5 years$43,796$41,705$39,720$37,837$36,050$33,378
6 years$36,131$34,055$32,100$30,258$28,525$25,961
7 years$30,658$28,600$26,675$24,877$23,198$20,743
8 years$26,555$24,515$22,623$20,869$19,245$16,898
9 years$23,365$21,345$19,485$17,776$16,207$13,968
10 years$20,815$18,814$16,987$15,323$13,809$11,675
11 years$18,730$16,749$14,955$13,335$11,877$9,846
12 years$16,993$15,033$13,273$11,697$10,292$8,363
13 years$15,525$13,586$11,858$10,327$8,975$7,145
14 years$14,268$12,349$10,655$9,167$7,867$6,133
15 years$13,179$11,281$9,620$8,175$6,927$5,286
16 years$12,228$10,350$8,722$7,320$6,122$4,572
17 years$11,389$9,532$7,936$6,577$5,428$3,965
18 years$10,644$8,808$7,245$5,927$4,827$3,447
19 years$9,979$8,163$6,632$5,356$4,302$3,003
20 years$9,380$7,586$6,087$4,851$3,843$2,621
21 years$8,840$7,066$5,599$4,402$3,439$2,291
22 years$8,349$6,596$5,160$4,003$3,082$2,005
23 years$7,901$6,169$4,764$3,645$2,767$1,757
24 years$7,492$5,780$4,406$3,325$2,487$1,541
25 years$7,116$5,424$4,081$3,036$2,238$1,353
26 years$6,769$5,098$3,785$2,776$2,016$1,188
27 years$6,449$4,798$3,515$2,541$1,817$1,045
28 years$6,151$4,521$3,267$2,328$1,640$919
29 years$5,875$4,265$3,041$2,135$1,481$809
30 years$5,618$4,028$2,832$1,959$1,338$712
31 years$5,378$3,807$2,640$1,800$1,210$627
32 years$5,153$3,603$2,464$1,654$1,094$553
33 years$4,943$3,412$2,300$1,521$990$487
34 years$4,745$3,234$2,149$1,399$897$430
35 years$4,559$3,067$2,009$1,288$812$379
36 years$4,384$2,911$1,880$1,186$736$334
37 years$4,218$2,765$1,759$1,093$667$295
38 years$4,062$2,628$1,648$1,008$605$260
39 years$3,914$2,499$1,544$929$548$230
40 years$3,773$2,377$1,447$857$497$203
41 years$3,640$2,263$1,357$791$451$179
42 years$3,514$2,155$1,273$730$409$158
43 years$3,394$2,053$1,194$673$372$139
44 years$3,279$1,957$1,121$622$337$123
45 years$3,170$1,866$1,052$574$306$109
46 years$3,066$1,780$989$530$278$96
47 years$2,967$1,699$929$490$252$85
48 years$2,872$1,622$873$453$229$75
49 years$2,782$1,549$820$419$208$66
50 years$2,695$1,480$771$387$189$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,760,000, adding $4,099 every year, while hoping to spend $22,338 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: 58/30/12 Blend
57$2,760,000$2,760,000$2,760,000$2,760,000
58$3,045,748$2,899,468$2,856,688$3,213,140
59$3,332,647$3,017,775$2,928,620$3,444,847
60$3,648,061$3,141,129$3,002,212$3,694,452
61$3,994,875$3,269,756$3,077,498$3,965,997
62$4,376,267$3,403,889$3,154,509$4,261,592
63$4,795,739$3,543,773$3,233,279$4,583,557
64$5,257,151$3,689,664$3,313,839$4,934,442
65$5,764,752$3,841,829$3,396,224$5,317,052
66$6,323,226$4,000,548$3,480,468$5,734,473
67$6,937,735$4,166,115$3,566,603$6,190,101
68$7,613,963$4,338,835$3,654,664$6,687,671
69$8,358,178$4,519,028$3,744,686$7,231,291
70$9,177,282$4,707,029$3,836,702$7,825,485
71$10,078,881$4,903,190$3,930,748$8,475,228
72$11,071,357$5,107,877$4,026,858$9,185,998
73$12,163,945$5,321,472$4,125,067$9,963,822
74$13,366,821$5,544,378$4,225,411$10,815,336
75$14,691,198$5,777,015$4,327,924$11,747,842
76$16,149,432$6,019,820$4,432,642$12,769,381
77$17,755,138$6,273,255$4,539,599$13,888,803
78$19,523,317$6,537,800$4,648,830$15,115,854
79$21,470,501$6,813,958$4,760,372$16,461,261
80$23,614,906$7,102,255$4,874,258$17,936,839
81$25,976,604$7,403,243$4,990,523$19,555,593
82$28,577,714$7,717,498$5,109,202$21,331,849
83$31,442,609$8,045,624$5,230,328$23,281,378
84$34,598,148$8,388,252$5,353,937$25,421,549
85$38,073,925$8,746,043$5,480,060$27,771,493
86$41,902,556$9,119,689$5,608,732$30,352,275
87$46,119,977$9,509,914$5,739,985$33,187,098
88$50,765,790$9,917,476$5,873,851$36,301,517
89$55,883,637$10,343,168$6,010,360$39,723,679
90$61,521,605$10,787,821$6,149,545$43,484,584
91$67,732,688$11,252,303$6,291,434$47,618,382
92$74,575,282$11,737,526$6,436,057$52,162,687
93$82,113,737$12,244,440$6,583,440$57,158,933
94$90,418,965$12,774,045$6,733,613$62,652,761
95$99,569,110$13,327,384$6,886,599$68,694,449
96$109,650,282$13,905,549$7,042,424$75,339,384
97$120,757,376$14,509,686$7,201,110$82,648,580
98$132,994,961$15,140,993$7,362,680$90,689,254
99$146,478,270$15,800,724$7,527,152$99,535,456
100$161,334,287$16,490,194$7,694,546$109,268,766