Can I retire at age 58 with 2,770,000?

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 $2,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$228,744$226,706$224,719$222,778$220,884$214,760
2 years$113,240$111,131$109,087$107,105$105,183$99,059
3 years$74,743$72,625$70,586$68,623$66,732$60,800
4 years$55,499$53,387$51,369$49,439$47,594$41,899
5 years$43,955$41,856$39,864$37,974$36,180$30,738
6 years$36,262$34,179$32,216$30,368$28,628$23,444
7 years$30,769$28,703$26,772$24,967$23,282$18,356
8 years$26,651$24,604$22,705$20,944$19,315$14,644
9 years$23,450$21,422$19,556$17,840$16,266$11,846
10 years$20,890$18,883$17,049$15,378$13,859$9,685
11 years$18,798$16,810$15,010$13,384$11,920$7,984
12 years$17,055$15,088$13,321$11,739$10,329$6,625
13 years$15,582$13,635$11,901$10,364$9,007$5,526
14 years$14,320$12,394$10,693$9,200$7,896$4,629
15 years$13,227$11,322$9,655$8,205$6,952$3,891
16 years$12,272$10,388$8,753$7,347$6,144$3,281
17 years$11,430$9,567$7,965$6,601$5,448$2,773
18 years$10,683$8,840$7,271$5,949$4,844$2,348
19 years$10,015$8,193$6,656$5,375$4,318$1,992
20 years$9,414$7,613$6,109$4,868$3,857$1,692
21 years$8,872$7,091$5,619$4,418$3,451$1,439
22 years$8,379$6,620$5,179$4,017$3,093$1,225
23 years$7,930$6,191$4,782$3,659$2,777$1,043
24 years$7,519$5,801$4,422$3,337$2,496$890
25 years$7,141$5,444$4,096$3,047$2,246$759
26 years$6,794$5,116$3,799$2,786$2,023$648
27 years$6,472$4,815$3,527$2,550$1,824$553
28 years$6,174$4,537$3,279$2,337$1,646$473
29 years$5,897$4,280$3,052$2,143$1,486$404
30 years$5,639$4,042$2,842$1,967$1,343$345
31 years$5,398$3,821$2,650$1,806$1,214$295
32 years$5,172$3,616$2,472$1,660$1,098$252
33 years$4,961$3,424$2,309$1,526$994$216
34 years$4,762$3,245$2,157$1,404$900$185
35 years$4,575$3,078$2,017$1,293$815$158
36 years$4,399$2,922$1,886$1,191$738$135
37 years$4,233$2,775$1,766$1,097$669$116
38 years$4,076$2,637$1,654$1,011$607$99
39 years$3,928$2,508$1,549$932$550$85
40 years$3,787$2,386$1,452$860$499$73
41 years$3,653$2,271$1,362$793$453$62
42 years$3,527$2,163$1,277$732$411$53
43 years$3,406$2,061$1,198$676$373$45
44 years$3,291$1,964$1,125$624$338$39
45 years$3,182$1,873$1,056$576$307$33
46 years$3,077$1,787$992$532$279$29
47 years$2,978$1,705$932$492$253$24
48 years$2,883$1,628$876$455$230$21
49 years$2,792$1,555$823$420$209$18
50 years$2,704$1,485$774$388$190$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,770,000, adding $6,623 every year, while hoping to spend $36,347 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: 61/17/22 Blend
57$2,770,000$2,770,000$2,770,000$2,770,000
58$3,059,372$2,912,562$2,869,627$3,227,903
59$3,332,755$3,016,604$2,927,086$3,446,840
60$3,632,804$3,124,527$2,985,252$3,681,106
61$3,962,203$3,236,481$3,044,111$3,935,979
62$4,323,904$3,352,625$3,103,645$4,213,471
63$4,721,161$3,473,122$3,163,836$4,515,794
64$5,157,559$3,598,145$3,224,664$4,845,383
65$5,637,048$3,727,872$3,286,108$5,204,920
66$6,163,977$3,862,488$3,348,143$5,597,358
67$6,743,139$4,002,186$3,410,742$6,025,946
68$7,379,815$4,147,169$3,473,878$6,494,263
69$8,079,821$4,297,645$3,537,518$7,006,251
70$8,849,567$4,453,834$3,601,628$7,566,249
71$9,696,113$4,615,962$3,666,173$8,179,035
72$10,627,239$4,784,267$3,731,113$8,849,874
73$11,651,517$4,958,996$3,796,405$9,584,561
74$12,778,391$5,140,406$3,862,003$10,389,481
75$14,018,267$5,328,765$3,927,860$11,271,665
76$15,382,608$5,524,353$3,993,922$12,238,858
77$16,884,049$5,727,461$4,060,133$13,299,592
78$18,536,507$5,938,392$4,126,433$14,463,264
79$20,355,321$6,157,463$4,192,758$15,740,225
80$22,357,388$6,385,003$4,259,040$17,141,878
81$24,561,329$6,621,356$4,325,205$18,680,787
82$26,987,663$6,866,880$4,391,177$20,370,789
83$29,658,996$7,121,949$4,456,874$22,227,130
84$32,600,241$7,386,952$4,522,206$24,266,606
85$35,838,848$7,662,294$4,587,082$26,507,721
86$39,405,064$7,948,401$4,651,403$28,970,862
87$43,332,220$8,245,712$4,715,065$31,678,488
88$47,657,043$8,554,688$4,777,956$34,655,346
89$52,420,003$8,875,809$4,839,959$37,928,700
90$57,665,696$9,209,577$4,900,951$41,528,589
91$63,443,264$9,556,513$4,960,799$45,488,110
92$69,806,857$9,917,162$5,019,366$49,843,732
93$76,816,147$10,292,094$5,076,505$54,635,634
94$84,536,887$10,681,900$5,132,062$59,908,089
95$93,041,537$11,087,199$5,185,872$65,709,877
96$102,409,939$11,508,638$5,237,765$72,094,749
97$112,730,081$11,946,889$5,287,558$79,121,929
98$124,098,919$12,402,657$5,335,061$86,856,675
99$136,623,295$12,876,673$5,380,072$95,370,894
100$150,420,945$13,369,704$5,422,378$104,743,821