Can I retire at age 58 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$231,221$229,162$227,152$225,191$223,276$216,562
2 years$114,466$112,334$110,268$108,265$106,322$99,615
3 years$75,553$73,412$71,351$69,366$67,455$60,964
4 years$56,100$53,965$51,925$49,975$48,109$41,885
5 years$44,431$42,309$40,296$38,385$36,572$30,631
6 years$36,655$34,549$32,565$30,697$28,938$23,286
7 years$31,102$29,014$27,062$25,238$23,535$18,170
8 years$26,940$24,870$22,951$21,171$19,524$14,445
9 years$23,704$21,654$19,767$18,033$16,442$11,643
10 years$21,117$19,087$17,234$15,545$14,010$9,483
11 years$19,001$16,992$15,172$13,529$12,049$7,787
12 years$17,240$15,251$13,465$11,866$10,441$6,436
13 years$15,750$13,783$12,030$10,476$9,105$5,347
14 years$14,475$12,528$10,809$9,300$7,981$4,460
15 years$13,370$11,445$9,759$8,294$7,027$3,734
16 years$12,405$10,500$8,848$7,426$6,211$3,134
17 years$11,554$9,670$8,051$6,672$5,507$2,637
18 years$10,799$8,936$7,350$6,013$4,896$2,223
19 years$10,123$8,282$6,728$5,433$4,364$1,877
20 years$9,516$7,696$6,175$4,921$3,898$1,587
21 years$8,968$7,168$5,680$4,466$3,489$1,344
22 years$8,470$6,691$5,235$4,061$3,127$1,139
23 years$8,016$6,258$4,833$3,698$2,807$966
24 years$7,601$5,864$4,470$3,373$2,523$819
25 years$7,219$5,503$4,140$3,080$2,270$696
26 years$6,867$5,172$3,840$2,816$2,045$591
27 years$6,542$4,867$3,566$2,578$1,844$502
28 years$6,241$4,586$3,315$2,362$1,664$427
29 years$5,961$4,327$3,085$2,166$1,502$363
30 years$5,700$4,086$2,873$1,988$1,357$309
31 years$5,456$3,863$2,679$1,826$1,227$263
32 years$5,228$3,655$2,499$1,678$1,110$224
33 years$5,014$3,461$2,334$1,543$1,005$190
34 years$4,814$3,280$2,180$1,420$910$162
35 years$4,625$3,111$2,038$1,307$824$138
36 years$4,447$2,953$1,907$1,204$746$117
37 years$4,279$2,805$1,785$1,109$677$100
38 years$4,120$2,666$1,671$1,022$613$85
39 years$3,970$2,535$1,566$942$556$72
40 years$3,828$2,412$1,468$869$504$62
41 years$3,693$2,296$1,376$802$458$53
42 years$3,565$2,186$1,291$740$415$45
43 years$3,443$2,083$1,211$683$377$38
44 years$3,327$1,986$1,137$631$342$32
45 years$3,216$1,893$1,068$583$311$28
46 years$3,111$1,806$1,003$538$282$24
47 years$3,010$1,724$942$497$256$20
48 years$2,914$1,646$885$459$233$17
49 years$2,822$1,571$832$425$211$15
50 years$2,734$1,501$782$392$192$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,800,000, adding $4,873 every year, while hoping to spend $53,460 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: 52/30/18 Blend
57$2,800,000$2,800,000$2,800,000$2,800,000
58$3,090,626$2,942,226$2,898,826$3,235,869
59$3,348,989$3,029,515$2,939,056$3,423,442
60$3,631,914$3,119,288$2,978,842$3,621,354
61$3,941,848$3,211,612$3,018,112$3,835,455
62$4,281,489$3,306,554$3,056,791$4,067,297
63$4,653,807$3,404,181$3,094,800$4,318,589
64$5,062,073$3,504,564$3,132,054$4,591,212
65$5,509,890$3,607,773$3,168,463$4,887,237
66$6,001,226$3,713,881$3,203,934$5,208,942
67$6,540,452$3,822,962$3,238,366$5,558,838
68$7,132,383$3,935,092$3,271,656$5,939,687
69$7,782,322$4,050,348$3,303,693$6,354,534
70$8,496,111$4,168,807$3,334,360$6,806,728
71$9,280,187$4,290,552$3,363,533$7,299,961
72$10,141,639$4,415,662$3,391,084$7,838,297
73$11,088,278$4,544,220$3,416,877$8,426,212
74$12,128,708$4,676,313$3,440,768$9,068,638
75$13,272,409$4,812,024$3,462,606$9,771,006
76$14,529,824$4,951,443$3,482,233$10,539,298
77$15,912,460$5,094,658$3,499,482$11,380,106
78$17,432,993$5,241,758$3,514,177$12,300,690
79$19,105,391$5,392,837$3,526,134$13,309,048
80$20,945,041$5,547,987$3,535,161$14,413,992
81$22,968,900$5,707,302$3,541,053$15,625,230
82$25,195,647$5,870,880$3,543,597$16,953,458
83$27,645,866$6,038,816$3,542,571$18,410,460
84$30,342,235$6,211,209$3,537,738$20,009,219
85$33,309,744$6,388,158$3,528,853$21,764,040
86$36,575,925$6,569,766$3,515,657$23,690,685
87$40,171,118$6,756,132$3,497,879$25,806,522
88$44,128,750$6,947,361$3,475,236$28,130,686
89$48,485,656$7,143,555$3,447,431$30,684,262
90$53,282,424$7,344,820$3,414,150$33,490,484
91$58,563,775$7,551,261$3,375,068$36,574,952
92$64,378,991$7,762,983$3,329,844$39,965,875
93$70,782,372$7,980,093$3,278,118$43,694,339
94$77,833,755$8,202,699$3,219,516$47,794,595
95$85,599,074$8,430,907$3,153,646$52,304,388
96$94,150,984$8,664,826$3,080,097$57,265,310
97$103,569,543$8,904,561$2,998,439$62,723,192
98$113,942,973$9,150,221$2,908,223$68,728,538
99$125,368,487$9,401,913$2,808,979$75,337,002
100$137,953,208$9,659,742$2,700,216$82,609,913