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

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 $2,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$228,744$226,706$224,719$222,778$220,884$212,962
2 years$113,240$111,131$109,087$107,105$105,183$97,287
3 years$74,743$72,625$70,586$68,623$66,732$59,111
4 years$55,499$53,387$51,369$49,439$47,594$40,306
5 years$43,955$41,856$39,864$37,974$36,180$29,244
6 years$36,262$34,179$32,216$30,368$28,628$22,049
7 years$30,769$28,703$26,772$24,967$23,282$17,059
8 years$26,651$24,604$22,705$20,944$19,315$13,442
9 years$23,450$21,422$19,556$17,840$16,266$10,735
10 years$20,890$18,883$17,049$15,378$13,859$8,661
11 years$18,798$16,810$15,010$13,384$11,920$7,044
12 years$17,055$15,088$13,321$11,739$10,329$5,764
13 years$15,582$13,635$11,901$10,364$9,007$4,740
14 years$14,320$12,394$10,693$9,200$7,896$3,913
15 years$13,227$11,322$9,655$8,205$6,952$3,241
16 years$12,272$10,388$8,753$7,347$6,144$2,691
17 years$11,430$9,567$7,965$6,601$5,448$2,240
18 years$10,683$8,840$7,271$5,949$4,844$1,867
19 years$10,015$8,193$6,656$5,375$4,318$1,559
20 years$9,414$7,613$6,109$4,868$3,857$1,303
21 years$8,872$7,091$5,619$4,418$3,451$1,090
22 years$8,379$6,620$5,179$4,017$3,093$913
23 years$7,930$6,191$4,782$3,659$2,777$765
24 years$7,519$5,801$4,422$3,337$2,496$642
25 years$7,141$5,444$4,096$3,047$2,246$538
26 years$6,794$5,116$3,799$2,786$2,023$452
27 years$6,472$4,815$3,527$2,550$1,824$379
28 years$6,174$4,537$3,279$2,337$1,646$318
29 years$5,897$4,280$3,052$2,143$1,486$268
30 years$5,639$4,042$2,842$1,967$1,343$225
31 years$5,398$3,821$2,650$1,806$1,214$189
32 years$5,172$3,616$2,472$1,660$1,098$159
33 years$4,961$3,424$2,309$1,526$994$133
34 years$4,762$3,245$2,157$1,404$900$112
35 years$4,575$3,078$2,017$1,293$815$94
36 years$4,399$2,922$1,886$1,191$738$79
37 years$4,233$2,775$1,766$1,097$669$67
38 years$4,076$2,637$1,654$1,011$607$56
39 years$3,928$2,508$1,549$932$550$47
40 years$3,787$2,386$1,452$860$499$40
41 years$3,653$2,271$1,362$793$453$33
42 years$3,527$2,163$1,277$732$411$28
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$8
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 $5,738 every year, while hoping to spend $47,073 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: 27/45/28 Blend
57$2,770,000$2,770,000$2,770,000$2,770,000
58$3,058,459$2,911,649$2,868,714$3,114,257
59$3,320,336$3,004,234$2,914,730$3,252,500
60$3,607,348$3,099,779$2,960,711$3,396,398
61$3,922,007$3,198,377$3,006,604$3,549,942
62$4,267,082$3,300,129$3,052,356$3,713,986
63$4,645,624$3,405,135$3,097,910$3,889,470
64$5,060,991$3,513,500$3,143,203$4,077,424
65$5,516,883$3,625,332$3,188,172$4,278,982
66$6,017,376$3,740,744$3,232,746$4,495,390
67$6,566,959$3,859,851$3,276,853$4,728,017
68$7,170,577$3,982,772$3,320,417$4,978,368
69$7,833,679$4,109,631$3,363,353$5,248,099
70$8,562,266$4,240,554$3,405,577$5,539,031
71$9,362,949$4,375,674$3,446,996$5,853,166
72$10,243,013$4,515,125$3,487,514$6,192,708
73$11,210,483$4,659,049$3,527,028$6,560,082
74$12,274,199$4,807,589$3,565,430$6,957,955
75$13,443,901$4,960,895$3,602,606$7,389,262
76$14,730,322$5,119,122$3,638,437$7,857,236
77$16,145,285$5,282,429$3,672,795$8,365,434
78$17,701,817$5,450,981$3,705,546$8,917,769
79$19,414,272$5,624,948$3,736,551$9,518,554
80$21,298,462$5,804,505$3,765,660$10,172,533
81$23,371,815$5,989,835$3,792,719$10,884,932
82$25,653,528$6,181,125$3,817,563$11,661,505
83$28,164,756$6,378,568$3,840,020$12,508,587
84$30,928,808$6,582,365$3,859,907$13,433,156
85$33,971,367$6,792,722$3,877,035$14,442,897
86$37,320,735$7,009,854$3,891,204$15,546,273
87$41,008,092$7,233,979$3,902,202$16,752,605
88$45,067,801$7,465,327$3,909,809$18,072,162
89$49,537,721$7,704,133$3,913,792$19,516,251
90$54,459,573$7,950,640$3,913,908$21,097,333
91$59,879,328$8,205,099$3,909,902$22,829,128
92$65,847,641$8,467,771$3,901,506$24,726,755
93$72,420,332$8,738,923$3,888,438$26,806,868
94$79,658,908$9,018,833$3,870,403$29,087,814
95$87,631,148$9,307,787$3,847,093$31,589,805
96$96,411,738$9,606,081$3,818,183$34,335,110
97$106,082,977$9,914,022$3,783,335$37,348,262
98$116,735,557$10,231,924$3,742,192$40,656,293
99$128,469,411$10,560,116$3,694,383$44,288,984
100$141,394,663$10,898,934$3,639,517$48,279,147