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

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$231,221$229,162$227,152$225,191$223,276$218,768
2 years$114,466$112,334$110,268$108,265$106,322$101,800
3 years$75,553$73,412$71,351$69,366$67,455$63,060
4 years$56,100$53,965$51,925$49,975$48,109$43,875
5 years$44,431$42,309$40,296$38,385$36,572$32,511
6 years$36,655$34,549$32,565$30,697$28,938$25,055
7 years$31,102$29,014$27,062$25,238$23,535$19,829
8 years$26,940$24,870$22,951$21,171$19,524$15,996
9 years$23,704$21,654$19,767$18,033$16,442$13,089
10 years$21,117$19,087$17,234$15,545$14,010$10,828
11 years$19,001$16,992$15,172$13,529$12,049$9,034
12 years$17,240$15,251$13,465$11,866$10,441$7,590
13 years$15,750$13,783$12,030$10,476$9,105$6,412
14 years$14,475$12,528$10,809$9,300$7,981$5,442
15 years$13,370$11,445$9,759$8,294$7,027$4,636
16 years$12,405$10,500$8,848$7,426$6,211$3,962
17 years$11,554$9,670$8,051$6,672$5,507$3,394
18 years$10,799$8,936$7,350$6,013$4,896$2,915
19 years$10,123$8,282$6,728$5,433$4,364$2,508
20 years$9,516$7,696$6,175$4,921$3,898$2,161
21 years$8,968$7,168$5,680$4,466$3,489$1,865
22 years$8,470$6,691$5,235$4,061$3,127$1,611
23 years$8,016$6,258$4,833$3,698$2,807$1,393
24 years$7,601$5,864$4,470$3,373$2,523$1,206
25 years$7,219$5,503$4,140$3,080$2,270$1,044
26 years$6,867$5,172$3,840$2,816$2,045$905
27 years$6,542$4,867$3,566$2,578$1,844$785
28 years$6,241$4,586$3,315$2,362$1,664$681
29 years$5,961$4,327$3,085$2,166$1,502$591
30 years$5,700$4,086$2,873$1,988$1,357$513
31 years$5,456$3,863$2,679$1,826$1,227$446
32 years$5,228$3,655$2,499$1,678$1,110$387
33 years$5,014$3,461$2,334$1,543$1,005$337
34 years$4,814$3,280$2,180$1,420$910$293
35 years$4,625$3,111$2,038$1,307$824$254
36 years$4,447$2,953$1,907$1,204$746$221
37 years$4,279$2,805$1,785$1,109$677$192
38 years$4,120$2,666$1,671$1,022$613$167
39 years$3,970$2,535$1,566$942$556$145
40 years$3,828$2,412$1,468$869$504$126
41 years$3,693$2,296$1,376$802$458$110
42 years$3,565$2,186$1,291$740$415$96
43 years$3,443$2,083$1,211$683$377$83
44 years$3,327$1,986$1,137$631$342$72
45 years$3,216$1,893$1,068$583$311$63
46 years$3,111$1,806$1,003$538$282$55
47 years$3,010$1,724$942$497$256$48
48 years$2,914$1,646$885$459$233$42
49 years$2,822$1,571$832$425$211$36
50 years$2,734$1,501$782$392$192$31

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 $3,232 every year, while hoping to spend $40,067 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: 64/23/13 Blend
57$2,800,000$2,800,000$2,800,000$2,800,000
58$3,088,934$2,940,534$2,897,134$3,277,001
59$3,361,374$3,041,989$2,951,557$3,504,656
60$3,660,260$3,147,073$3,006,460$3,748,293
61$3,988,248$3,255,920$3,061,817$4,013,428
62$4,348,261$3,368,672$3,117,601$4,302,152
63$4,743,522$3,485,476$3,173,779$4,616,770
64$5,177,580$3,606,482$3,230,318$4,959,816
65$5,654,343$3,731,850$3,287,184$5,334,082
66$6,178,118$3,861,743$3,344,337$5,742,640
67$6,753,650$3,996,332$3,401,736$6,188,870
68$7,386,166$4,135,795$3,459,337$6,676,497
69$8,081,422$4,280,317$3,517,093$7,209,620
70$8,845,764$4,430,089$3,574,952$7,792,752
71$9,686,179$4,585,311$3,632,860$8,430,864
72$10,610,369$4,746,191$3,690,761$9,129,428
73$11,626,816$4,912,944$3,748,591$9,894,473
74$12,744,868$5,085,794$3,806,285$10,732,636
75$13,974,823$5,264,977$3,863,774$11,651,226
76$15,328,027$5,450,733$3,920,983$12,658,297
77$16,816,983$5,643,316$3,977,833$13,762,714
78$18,455,466$5,842,989$4,034,241$14,974,247
79$20,258,654$6,050,026$4,090,118$16,303,654
80$22,243,269$6,264,710$4,145,370$17,762,786
81$24,427,740$6,487,337$4,199,897$19,364,697
82$26,832,369$6,718,217$4,253,594$21,123,768
83$29,479,531$6,957,670$4,306,349$23,055,840
84$32,393,876$7,206,029$4,358,044$25,178,366
85$35,602,568$7,463,641$4,408,556$27,510,569
86$39,135,540$7,730,869$4,457,752$30,073,630
87$43,025,772$8,008,089$4,505,494$32,890,883
88$47,309,608$8,295,692$4,551,635$35,988,035
89$52,027,093$8,594,087$4,596,020$39,393,407
90$57,222,358$8,903,698$4,638,488$43,138,205
91$62,944,027$9,224,968$4,678,866$47,256,805
92$69,245,683$9,558,357$4,716,974$51,787,087
93$76,186,372$9,904,345$4,752,621$56,770,785
94$83,831,156$10,263,432$4,785,608$62,253,879
95$92,251,732$10,636,138$4,815,724$68,287,033
96$101,527,105$11,023,006$4,842,747$74,926,070
97$111,744,336$11,424,599$4,866,445$82,232,498
98$122,999,361$11,841,507$4,886,574$90,274,086
99$135,397,896$12,274,341$4,902,875$99,125,510
100$149,056,440$12,723,742$4,915,079$108,869,049