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%18.8%
1 years$228,744$226,706$224,719$222,778$220,884$213,047
2 years$113,240$111,131$109,087$107,105$105,183$97,370
3 years$74,743$72,625$70,586$68,623$66,732$59,190
4 years$55,499$53,387$51,369$49,439$47,594$40,380
5 years$43,955$41,856$39,864$37,974$36,180$29,313
6 years$36,262$34,179$32,216$30,368$28,628$22,113
7 years$30,769$28,703$26,772$24,967$23,282$17,118
8 years$26,651$24,604$22,705$20,944$19,315$13,497
9 years$23,450$21,422$19,556$17,840$16,266$10,786
10 years$20,890$18,883$17,049$15,378$13,859$8,708
11 years$18,798$16,810$15,010$13,384$11,920$7,086
12 years$17,055$15,088$13,321$11,739$10,329$5,802
13 years$15,582$13,635$11,901$10,364$9,007$4,775
14 years$14,320$12,394$10,693$9,200$7,896$3,945
15 years$13,227$11,322$9,655$8,205$6,952$3,269
16 years$12,272$10,388$8,753$7,347$6,144$2,717
17 years$11,430$9,567$7,965$6,601$5,448$2,263
18 years$10,683$8,840$7,271$5,949$4,844$1,888
19 years$10,015$8,193$6,656$5,375$4,318$1,577
20 years$9,414$7,613$6,109$4,868$3,857$1,319
21 years$8,872$7,091$5,619$4,418$3,451$1,105
22 years$8,379$6,620$5,179$4,017$3,093$926
23 years$7,930$6,191$4,782$3,659$2,777$777
24 years$7,519$5,801$4,422$3,337$2,496$652
25 years$7,141$5,444$4,096$3,047$2,246$547
26 years$6,794$5,116$3,799$2,786$2,023$460
27 years$6,472$4,815$3,527$2,550$1,824$386
28 years$6,174$4,537$3,279$2,337$1,646$325
29 years$5,897$4,280$3,052$2,143$1,486$273
30 years$5,639$4,042$2,842$1,967$1,343$229
31 years$5,398$3,821$2,650$1,806$1,214$193
32 years$5,172$3,616$2,472$1,660$1,098$162
33 years$4,961$3,424$2,309$1,526$994$137
34 years$4,762$3,245$2,157$1,404$900$115
35 years$4,575$3,078$2,017$1,293$815$97
36 years$4,399$2,922$1,886$1,191$738$81
37 years$4,233$2,775$1,766$1,097$669$68
38 years$4,076$2,637$1,654$1,011$607$58
39 years$3,928$2,508$1,549$932$550$48
40 years$3,787$2,386$1,452$860$499$41
41 years$3,653$2,271$1,362$793$453$34
42 years$3,527$2,163$1,277$732$411$29
43 years$3,406$2,061$1,198$676$373$24
44 years$3,291$1,964$1,125$624$338$20
45 years$3,182$1,873$1,056$576$307$17
46 years$3,077$1,787$992$532$279$14
47 years$2,978$1,705$932$492$253$12
48 years$2,883$1,628$876$455$230$10
49 years$2,792$1,555$823$420$209$9
50 years$2,704$1,485$774$388$190$7

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 $6,830 every year, while hoping to spend $31,696 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: 58/34/8 Blend
57$2,770,000$2,770,000$2,770,000$2,770,000
58$3,059,585$2,912,775$2,869,840$3,231,160
59$3,337,939$3,021,777$2,932,255$3,456,310
60$3,643,622$3,135,057$2,995,699$3,697,422
61$3,979,389$3,252,793$3,060,173$3,959,439
62$4,348,274$3,375,167$3,125,676$4,244,366
63$4,753,619$3,502,371$3,192,208$4,554,408
64$5,199,107$3,634,606$3,259,765$4,891,989
65$5,688,794$3,772,080$3,328,346$5,259,776
66$6,227,150$3,915,011$3,397,944$5,660,704
67$6,819,098$4,063,625$3,468,554$6,098,000
68$7,470,063$4,218,160$3,540,168$6,575,215
69$8,186,023$4,378,863$3,612,777$7,096,258
70$8,973,561$4,545,992$3,686,369$7,665,428
71$9,839,935$4,719,816$3,760,932$8,287,457
72$10,793,137$4,900,616$3,836,453$8,967,555
73$11,841,976$5,088,685$3,912,913$9,711,454
74$12,996,157$5,284,329$3,990,294$10,525,465
75$14,266,372$5,487,869$4,068,577$11,416,536
76$15,664,405$5,699,637$4,147,737$12,392,314
77$17,203,237$5,919,982$4,227,749$13,461,219
78$18,897,173$6,149,268$4,308,585$14,632,521
79$20,761,976$6,387,873$4,390,214$15,916,429
80$22,815,014$6,636,195$4,472,602$17,324,182
81$25,075,424$6,894,647$4,555,713$18,868,157
82$27,564,294$7,163,662$4,639,506$20,561,982
83$30,304,860$7,443,690$4,723,938$22,420,669
84$33,322,729$7,735,203$4,808,962$24,460,746
85$36,646,113$8,038,694$4,894,529$26,700,419
86$40,306,103$8,354,677$4,980,582$29,159,739
87$44,336,958$8,683,688$5,067,064$31,860,788
88$48,776,428$9,026,290$5,153,911$34,827,891
89$53,666,114$9,383,067$5,241,056$38,087,841
90$59,051,853$9,754,633$5,328,428$41,670,148
91$64,984,159$10,141,628$5,415,947$45,607,321
92$71,518,695$10,544,719$5,503,533$49,935,168
93$78,716,797$10,964,606$5,591,097$54,693,135
94$86,646,056$11,402,017$5,678,544$59,924,677
95$95,380,955$11,857,716$5,765,776$65,677,664
96$105,003,568$12,332,500$5,852,685$72,004,830
97$115,604,341$12,827,202$5,939,160$78,964,273
98$127,282,941$13,342,692$6,025,079$86,619,997
99$140,149,197$13,879,881$6,110,315$95,042,513
100$154,324,139$14,439,718$6,194,734$104,309,509