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%16.1%
1 years$228,744$226,706$224,719$222,778$220,884$215,369
2 years$113,240$111,131$109,087$107,105$105,183$99,662
3 years$74,743$72,625$70,586$68,623$66,732$61,378
4 years$55,499$53,387$51,369$49,439$47,594$42,447
5 years$43,955$41,856$39,864$37,974$36,180$31,255
6 years$36,262$34,179$32,216$30,368$28,628$23,929
7 years$30,769$28,703$26,772$24,967$23,282$18,811
8 years$26,651$24,604$22,705$20,944$19,315$15,069
9 years$23,450$21,422$19,556$17,840$16,266$12,241
10 years$20,890$18,883$17,049$15,378$13,859$10,052
11 years$18,798$16,810$15,010$13,384$11,920$8,323
12 years$17,055$15,088$13,321$11,739$10,329$6,938
13 years$15,582$13,635$11,901$10,364$9,007$5,815
14 years$14,320$12,394$10,693$9,200$7,896$4,894
15 years$13,227$11,322$9,655$8,205$6,952$4,135
16 years$12,272$10,388$8,753$7,347$6,144$3,503
17 years$11,430$9,567$7,965$6,601$5,448$2,976
18 years$10,683$8,840$7,271$5,949$4,844$2,533
19 years$10,015$8,193$6,656$5,375$4,318$2,160
20 years$9,414$7,613$6,109$4,868$3,857$1,844
21 years$8,872$7,091$5,619$4,418$3,451$1,577
22 years$8,379$6,620$5,179$4,017$3,093$1,350
23 years$7,930$6,191$4,782$3,659$2,777$1,156
24 years$7,519$5,801$4,422$3,337$2,496$991
25 years$7,141$5,444$4,096$3,047$2,246$851
26 years$6,794$5,116$3,799$2,786$2,023$730
27 years$6,472$4,815$3,527$2,550$1,824$627
28 years$6,174$4,537$3,279$2,337$1,646$539
29 years$5,897$4,280$3,052$2,143$1,486$463
30 years$5,639$4,042$2,842$1,967$1,343$398
31 years$5,398$3,821$2,650$1,806$1,214$342
32 years$5,172$3,616$2,472$1,660$1,098$294
33 years$4,961$3,424$2,309$1,526$994$253
34 years$4,762$3,245$2,157$1,404$900$218
35 years$4,575$3,078$2,017$1,293$815$188
36 years$4,399$2,922$1,886$1,191$738$161
37 years$4,233$2,775$1,766$1,097$669$139
38 years$4,076$2,637$1,654$1,011$607$120
39 years$3,928$2,508$1,549$932$550$103
40 years$3,787$2,386$1,452$860$499$89
41 years$3,653$2,271$1,362$793$453$76
42 years$3,527$2,163$1,277$732$411$66
43 years$3,406$2,061$1,198$676$373$57
44 years$3,291$1,964$1,125$624$338$49
45 years$3,182$1,873$1,056$576$307$42
46 years$3,077$1,787$992$532$279$36
47 years$2,978$1,705$932$492$253$31
48 years$2,883$1,628$876$455$230$27
49 years$2,792$1,555$823$420$209$23
50 years$2,704$1,485$774$388$190$20

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 $2,146 every year, while hoping to spend $41,995 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: 65/16/19 Blend
57$2,770,000$2,770,000$2,770,000$2,770,000
58$3,054,754$2,907,944$2,865,009$3,238,598
59$3,321,656$3,005,750$2,916,304$3,460,045
60$3,614,375$3,106,942$2,967,910$3,696,950
61$3,935,500$3,211,641$3,019,794$3,954,849
62$4,287,882$3,319,972$3,071,918$4,235,799
63$4,674,661$3,432,067$3,124,243$4,542,062
64$5,099,300$3,548,061$3,176,728$4,876,133
65$5,565,607$3,668,095$3,229,327$5,240,757
66$6,077,783$3,792,315$3,281,993$5,638,956
67$6,640,451$3,920,873$3,334,675$6,074,058
68$7,258,709$4,053,927$3,387,317$6,549,730
69$7,938,167$4,191,640$3,439,863$7,070,008
70$8,685,011$4,334,181$3,492,250$7,639,338
71$9,506,054$4,481,728$3,544,411$8,262,617
72$10,408,801$4,634,462$3,596,278$8,945,239
73$11,401,521$4,792,573$3,647,776$9,693,144
74$12,493,327$4,956,259$3,698,827$10,512,876
75$13,694,255$5,125,725$3,749,347$11,411,645
76$15,015,366$5,301,182$3,799,247$12,397,390
77$16,468,845$5,482,853$3,848,434$13,478,860
78$18,068,120$5,670,965$3,896,809$14,665,691
79$19,827,984$5,865,758$3,944,267$15,968,498
80$21,764,736$6,067,478$3,990,699$17,398,979
81$23,896,338$6,276,383$4,035,986$18,970,018
82$26,242,578$6,492,740$4,080,005$20,695,812
83$28,825,263$6,716,826$4,122,627$22,592,000
84$31,668,419$6,948,929$4,163,714$24,675,815
85$34,798,520$7,189,349$4,203,121$26,966,243
86$38,244,739$7,438,397$4,240,695$29,484,202
87$42,039,221$7,696,397$4,276,277$32,252,741
88$46,217,386$7,963,685$4,309,696$35,297,254
89$50,818,263$8,240,610$4,340,776$38,645,723
90$55,884,862$8,527,535$4,369,327$42,328,979
91$61,464,572$8,824,839$4,395,154$46,380,993
92$67,609,616$9,132,913$4,418,049$50,839,196
93$74,377,537$9,452,166$4,437,794$55,744,834
94$81,831,746$9,783,022$4,454,160$61,143,354
95$90,042,117$10,125,923$4,466,907$67,084,834
96$99,085,647$10,481,327$4,475,783$73,624,454
97$109,047,183$10,849,712$4,480,521$80,823,020
98$120,020,221$11,231,574$4,480,845$88,747,531
99$132,107,792$11,627,430$4,476,462$97,471,817
100$145,423,429$12,037,816$4,467,065$107,077,233