Can I retire at age 58 with 2,810,000?

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 $2,810,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$232,047$229,980$227,964$225,995$224,073$218,214
2 years$114,875$112,735$110,662$108,652$106,702$100,838
3 years$75,822$73,674$71,606$69,614$67,696$62,012
4 years$56,300$54,158$52,111$50,153$48,281$42,821
5 years$44,590$42,461$40,440$38,522$36,703$31,480
6 years$36,785$34,672$32,681$30,807$29,042$24,063
7 years$31,213$29,118$27,158$25,328$23,619$18,884
8 years$27,036$24,959$23,033$21,247$19,594$15,100
9 years$23,788$21,732$19,838$18,098$16,501$12,245
10 years$21,192$19,155$17,295$15,600$14,060$10,036
11 years$19,069$17,053$15,226$13,577$12,092$8,294
12 years$17,301$15,306$13,513$11,909$10,478$6,900
13 years$15,807$13,832$12,073$10,514$9,137$5,771
14 years$14,527$12,573$10,848$9,333$8,010$4,848
15 years$13,418$11,485$9,794$8,323$7,052$4,087
16 years$12,449$10,538$8,880$7,453$6,233$3,455
17 years$11,595$9,705$8,080$6,696$5,527$2,929
18 years$10,837$8,968$7,376$6,035$4,914$2,487
19 years$10,159$8,311$6,752$5,453$4,380$2,116
20 years$9,550$7,723$6,197$4,938$3,912$1,803
21 years$9,000$7,194$5,700$4,482$3,501$1,538
22 years$8,500$6,715$5,254$4,075$3,138$1,313
23 years$8,045$6,281$4,851$3,711$2,817$1,123
24 years$7,628$5,884$4,486$3,385$2,532$960
25 years$7,245$5,522$4,155$3,091$2,278$822
26 years$6,892$5,190$3,854$2,827$2,052$704
27 years$6,565$4,884$3,578$2,587$1,850$603
28 years$6,263$4,603$3,327$2,370$1,670$517
29 years$5,982$4,342$3,096$2,174$1,508$443
30 years$5,720$4,101$2,883$1,995$1,362$380
31 years$5,475$3,876$2,688$1,832$1,232$326
32 years$5,247$3,668$2,508$1,684$1,114$280
33 years$5,032$3,474$2,342$1,548$1,008$240
34 years$4,831$3,292$2,188$1,425$913$206
35 years$4,641$3,123$2,046$1,312$827$177
36 years$4,463$2,964$1,914$1,208$749$152
37 years$4,294$2,815$1,791$1,113$679$130
38 years$4,135$2,675$1,677$1,026$616$112
39 years$3,985$2,544$1,572$946$558$96
40 years$3,842$2,420$1,473$872$506$83
41 years$3,706$2,304$1,381$805$459$71
42 years$3,578$2,194$1,296$743$417$61
43 years$3,455$2,090$1,216$686$378$52
44 years$3,339$1,993$1,141$633$343$45
45 years$3,228$1,900$1,072$585$312$39
46 years$3,122$1,813$1,006$540$283$33
47 years$3,021$1,730$946$499$257$28
48 years$2,924$1,651$889$461$233$24
49 years$2,832$1,577$835$426$212$21
50 years$2,744$1,506$785$394$193$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,810,000, adding $2,082 every year, while hoping to spend $23,685 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: 63/9/28 Blend
57$2,810,000$2,810,000$2,810,000$2,810,000
58$3,098,768$2,949,838$2,906,283$3,270,697
59$3,389,641$3,069,179$2,978,442$3,506,922
60$3,709,390$3,193,574$3,052,226$3,762,069
61$4,060,935$3,323,246$3,127,662$4,040,268
62$4,447,492$3,458,427$3,204,781$4,343,784
63$4,872,607$3,599,361$3,283,612$4,675,110
64$5,340,185$3,746,302$3,364,185$5,036,990
65$5,854,529$3,899,516$3,446,530$5,432,445
66$6,420,380$4,059,281$3,530,678$5,864,801
67$7,042,962$4,225,889$3,616,659$6,337,722
68$7,728,029$4,399,643$3,704,502$6,855,241
69$8,481,924$4,580,861$3,794,239$7,421,799
70$9,311,634$4,769,877$3,885,899$8,042,287
71$10,224,858$4,967,038$3,979,514$8,722,093
72$11,230,078$5,172,708$4,075,113$9,467,149
73$12,336,644$5,387,268$4,172,726$10,283,990
74$13,554,853$5,611,115$4,272,384$11,179,812
75$14,896,056$5,844,668$4,374,117$12,162,543
76$16,372,757$6,088,360$4,477,954$13,240,915
77$17,998,737$6,342,649$4,583,924$14,424,546
78$19,789,180$6,608,010$4,692,057$15,724,032
79$21,760,817$6,884,943$4,802,382$17,151,043
80$23,932,085$7,173,970$4,914,926$18,718,438
81$26,323,300$7,475,637$5,029,718$20,440,380
82$28,956,848$7,790,514$5,146,785$22,332,474
83$31,857,398$8,119,201$5,266,154$24,411,911
84$35,052,132$8,462,322$5,387,850$26,697,628
85$38,571,007$8,820,533$5,511,900$29,210,493
86$42,447,028$9,194,518$5,638,327$31,973,492
87$46,716,570$9,584,994$5,767,156$35,011,952
88$51,419,713$9,992,712$5,898,409$38,353,779
89$56,600,626$10,418,457$6,032,108$42,029,715
90$62,307,979$10,863,050$6,168,272$46,073,637
91$68,595,405$11,327,352$6,306,922$50,522,865
92$75,522,008$11,812,264$6,448,075$55,418,522
93$83,152,915$12,318,727$6,591,748$60,805,919
94$91,559,895$12,847,728$6,737,955$66,734,980
95$100,822,038$13,400,299$6,886,709$73,260,713
96$111,026,494$13,977,523$7,038,023$80,443,731
97$122,269,304$14,580,529$7,191,904$88,350,820
98$134,656,302$15,210,503$7,348,361$97,055,569
99$148,304,112$15,868,685$7,507,399$106,639,067
100$163,341,254$16,556,373$7,669,019$117,190,662