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

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 $2,760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$227,918$225,888$223,907$221,974$220,086$218,242
2 years$112,831$110,729$108,693$106,718$104,803$102,944
3 years$74,473$72,363$70,331$68,375$66,491$64,676
4 years$55,298$53,194$51,183$49,261$47,422$45,664
5 years$43,796$41,705$39,720$37,837$36,050$34,353
6 years$36,131$34,055$32,100$30,258$28,525$26,893
7 years$30,658$28,600$26,675$24,877$23,198$21,632
8 years$26,555$24,515$22,623$20,869$19,245$17,744
9 years$23,365$21,345$19,485$17,776$16,207$14,770
10 years$20,815$18,814$16,987$15,323$13,809$12,436
11 years$18,730$16,749$14,955$13,335$11,877$10,566
12 years$16,993$15,033$13,273$11,697$10,292$9,043
13 years$15,525$13,586$11,858$10,327$8,975$7,786
14 years$14,268$12,349$10,655$9,167$7,867$6,737
15 years$13,179$11,281$9,620$8,175$6,927$5,854
16 years$12,228$10,350$8,722$7,320$6,122$5,105
17 years$11,389$9,532$7,936$6,577$5,428$4,465
18 years$10,644$8,808$7,245$5,927$4,827$3,915
19 years$9,979$8,163$6,632$5,356$4,302$3,440
20 years$9,380$7,586$6,087$4,851$3,843$3,029
21 years$8,840$7,066$5,599$4,402$3,439$2,671
22 years$8,349$6,596$5,160$4,003$3,082$2,359
23 years$7,901$6,169$4,764$3,645$2,767$2,086
24 years$7,492$5,780$4,406$3,325$2,487$1,847
25 years$7,116$5,424$4,081$3,036$2,238$1,637
26 years$6,769$5,098$3,785$2,776$2,016$1,452
27 years$6,449$4,798$3,515$2,541$1,817$1,289
28 years$6,151$4,521$3,267$2,328$1,640$1,144
29 years$5,875$4,265$3,041$2,135$1,481$1,017
30 years$5,618$4,028$2,832$1,959$1,338$904
31 years$5,378$3,807$2,640$1,800$1,210$804
32 years$5,153$3,603$2,464$1,654$1,094$716
33 years$4,943$3,412$2,300$1,521$990$637
34 years$4,745$3,234$2,149$1,399$897$568
35 years$4,559$3,067$2,009$1,288$812$506
36 years$4,384$2,911$1,880$1,186$736$450
37 years$4,218$2,765$1,759$1,093$667$401
38 years$4,062$2,628$1,648$1,008$605$358
39 years$3,914$2,499$1,544$929$548$319
40 years$3,773$2,377$1,447$857$497$285
41 years$3,640$2,263$1,357$791$451$254
42 years$3,514$2,155$1,273$730$409$226
43 years$3,394$2,053$1,194$673$372$202
44 years$3,279$1,957$1,121$622$337$180
45 years$3,170$1,866$1,052$574$306$161
46 years$3,066$1,780$989$530$278$143
47 years$2,967$1,699$929$490$252$128
48 years$2,872$1,622$873$453$229$114
49 years$2,782$1,549$820$419$208$102
50 years$2,695$1,480$771$387$189$91

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 $4,495 every year, while hoping to spend $51,353 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: 53/23/24 Blend
57$2,760,000$2,760,000$2,760,000$2,760,000
58$3,046,157$2,899,877$2,857,097$3,187,125
59$3,302,225$2,987,331$2,898,170$3,372,322
60$3,582,692$3,077,350$2,938,899$3,568,079
61$3,889,991$3,170,005$2,979,216$3,780,045
62$4,226,803$3,265,368$3,019,053$4,009,788
63$4,596,081$3,363,515$3,058,335$4,259,030
64$5,001,077$3,464,523$3,096,985$4,529,672
65$5,445,373$3,568,470$3,134,920$4,823,803
66$5,932,913$3,675,438$3,172,052$5,143,727
67$6,468,045$3,785,509$3,208,290$5,491,978
68$7,055,554$3,898,767$3,243,536$5,871,348
69$7,700,713$4,015,300$3,277,688$6,284,914
70$8,409,332$4,135,196$3,310,636$6,736,062
71$9,187,809$4,258,545$3,342,268$7,228,523
72$10,043,194$4,385,442$3,372,462$7,766,408
73$10,983,252$4,515,981$3,401,092$8,354,244
74$12,016,538$4,650,259$3,428,024$8,997,018
75$13,152,480$4,788,377$3,453,117$9,700,225
76$14,401,461$4,930,435$3,476,224$10,469,918
77$15,774,921$5,076,538$3,497,189$11,312,766
78$17,285,467$5,226,792$3,515,849$12,236,116
79$18,946,986$5,381,306$3,532,031$13,248,063
80$20,774,779$5,540,191$3,545,555$14,357,528
81$22,785,706$5,703,559$3,556,230$15,574,336
82$24,998,342$5,871,528$3,563,858$16,909,316
83$27,433,155$6,044,215$3,568,230$18,374,399
84$30,112,696$6,221,741$3,569,124$19,982,731
85$33,061,813$6,404,228$3,566,312$21,748,797
86$36,307,885$6,591,802$3,559,550$23,688,560
87$39,881,079$6,784,590$3,548,585$25,819,606
88$43,814,638$6,982,724$3,533,152$28,161,317
89$48,145,189$7,186,336$3,512,970$30,735,049
90$52,913,093$7,395,560$3,487,749$33,564,334
91$58,162,821$7,610,535$3,457,181$36,675,105
92$63,943,378$7,831,400$3,420,946$40,095,938
93$70,308,762$8,058,299$3,378,707$43,858,323
94$77,318,474$8,291,374$3,330,112$47,996,959
95$85,038,082$8,530,774$3,274,794$52,550,086
96$93,539,832$8,776,649$3,212,366$57,559,841
97$102,903,339$9,029,149$3,142,424$63,072,661
98$113,216,331$9,288,428$3,064,547$69,139,717
99$124,575,479$9,554,643$2,978,291$75,817,399
100$137,087,308$9,827,951$2,883,195$83,167,848