Can I retire at age 58 with 2,790,000?

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 $2,790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$230,396$228,343$226,341$224,387$222,479$220,155
2 years$114,057$111,933$109,874$107,878$105,942$103,602
3 years$75,283$73,149$71,096$69,119$67,214$64,931
4 years$55,899$53,773$51,740$49,796$47,938$45,728
5 years$44,272$42,158$40,152$38,248$36,441$34,312
6 years$36,524$34,425$32,449$30,587$28,835$26,788
7 years$30,991$28,910$26,965$25,148$23,450$21,488
8 years$26,843$24,782$22,869$21,096$19,454$17,575
9 years$23,619$21,577$19,697$17,969$16,383$14,587
10 years$21,041$19,019$17,172$15,489$13,960$12,245
11 years$18,933$16,931$15,118$13,480$12,006$10,372
12 years$17,178$15,197$13,417$11,824$10,404$8,849
13 years$15,694$13,733$11,987$10,439$9,072$7,594
14 years$14,423$12,483$10,770$9,266$7,953$6,550
15 years$13,323$11,404$9,724$8,264$7,002$5,672
16 years$12,361$10,463$8,816$7,400$6,189$4,929
17 years$11,513$9,636$8,023$6,648$5,487$4,296
18 years$10,760$8,904$7,324$5,992$4,879$3,753
19 years$10,087$8,252$6,704$5,414$4,349$3,287
20 years$9,482$7,668$6,153$4,903$3,884$2,883
21 years$8,936$7,143$5,660$4,450$3,476$2,533
22 years$8,440$6,667$5,216$4,046$3,116$2,229
23 years$7,987$6,236$4,816$3,685$2,797$1,964
24 years$7,573$5,843$4,454$3,361$2,514$1,732
25 years$7,193$5,483$4,125$3,069$2,262$1,529
26 years$6,843$5,153$3,826$2,806$2,038$1,350
27 years$6,519$4,850$3,553$2,569$1,837$1,194
28 years$6,218$4,570$3,303$2,354$1,658$1,056
29 years$5,939$4,311$3,074$2,158$1,497$935
30 years$5,679$4,071$2,863$1,981$1,353$828
31 years$5,436$3,849$2,669$1,819$1,223$733
32 years$5,209$3,642$2,490$1,672$1,106$650
33 years$4,996$3,449$2,325$1,537$1,001$576
34 years$4,797$3,269$2,173$1,415$906$511
35 years$4,608$3,100$2,031$1,302$821$453
36 years$4,431$2,943$1,900$1,199$744$402
37 years$4,264$2,795$1,778$1,105$674$357
38 years$4,106$2,656$1,665$1,018$611$317
39 years$3,956$2,526$1,560$939$554$281
40 years$3,814$2,403$1,463$866$503$250
41 years$3,680$2,287$1,371$799$456$222
42 years$3,552$2,178$1,286$738$414$197
43 years$3,431$2,076$1,207$681$376$175
44 years$3,315$1,978$1,133$629$341$155
45 years$3,205$1,887$1,064$581$309$138
46 years$3,100$1,800$999$536$281$123
47 years$2,999$1,718$939$495$255$109
48 years$2,903$1,640$882$458$232$97
49 years$2,812$1,566$829$423$210$86
50 years$2,724$1,496$780$391$191$76

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,790,000, adding $6,289 every year, while hoping to spend $42,077 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: 77/9/14 Blend
57$2,790,000$2,790,000$2,790,000$2,790,000
58$3,081,067$2,933,197$2,889,952$3,308,910
59$3,350,566$3,032,154$2,941,996$3,558,956
60$3,646,144$3,134,550$2,994,373$3,827,135
61$3,970,416$3,240,508$3,047,050$4,120,046
62$4,326,264$3,350,158$3,099,991$4,440,140
63$4,716,860$3,463,633$3,153,158$4,790,118
64$5,145,701$3,581,072$3,206,510$5,172,953
65$5,616,636$3,702,618$3,260,002$5,591,920
66$6,133,908$3,828,422$3,313,587$6,050,626
67$6,702,190$3,958,638$3,367,215$6,553,042
68$7,326,629$4,093,427$3,420,833$7,103,545
69$8,012,897$4,232,956$3,474,382$7,706,955
70$8,767,240$4,377,399$3,527,802$8,368,581
71$9,596,544$4,526,937$3,581,028$9,094,271
72$10,508,390$4,681,755$3,633,991$9,890,468
73$11,511,134$4,842,050$3,686,618$10,764,269
74$12,613,981$5,008,021$3,738,831$11,723,494
75$13,827,072$5,179,880$3,790,547$12,776,755
76$15,161,583$5,357,843$3,841,680$13,933,544
77$16,629,824$5,542,137$3,892,136$15,204,314
78$18,245,361$5,732,997$3,941,818$16,600,586
79$20,023,141$5,930,667$3,990,622$18,135,050
80$21,979,633$6,135,401$4,038,439$19,821,688
81$24,132,981$6,347,461$4,085,153$21,675,907
82$26,503,181$6,567,123$4,130,641$23,714,681
83$29,112,264$6,794,670$4,174,775$25,956,713
84$31,984,504$7,030,398$4,217,420$28,422,609
85$35,146,650$7,274,615$4,258,430$31,135,075
86$38,628,177$7,527,639$4,297,656$34,119,131
87$42,461,562$7,789,804$4,334,938$37,402,342
88$46,682,591$8,061,454$4,370,109$41,015,083
89$51,330,698$8,342,949$4,402,990$44,990,826
90$56,449,337$8,634,661$4,433,398$49,366,449
91$62,086,388$8,936,978$4,461,136$54,182,591
92$68,294,614$9,250,304$4,485,998$59,484,031
93$75,132,155$9,575,059$4,507,769$65,320,112
94$82,663,077$9,911,679$4,526,221$71,745,205
95$90,957,977$10,260,617$4,541,116$78,819,224
96$100,094,650$10,622,347$4,552,203$86,608,189
97$110,158,820$10,997,358$4,559,218$95,184,849
98$121,244,954$11,386,162$4,561,885$104,629,372
99$133,457,146$11,789,291$4,559,915$115,030,093
100$146,910,105$12,207,297$4,553,003$126,484,359