Can I retire at age 58 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$232,873$230,799$228,775$226,800$224,871$217,412
2 years$115,284$113,137$111,056$109,038$107,081$99,639
3 years$76,092$73,936$71,860$69,862$67,937$60,744
4 years$56,501$54,351$52,296$50,332$48,453$41,566
5 years$44,748$42,612$40,584$38,659$36,833$30,270
6 years$36,916$34,796$32,798$30,916$29,145$22,910
7 years$31,324$29,221$27,255$25,418$23,703$17,796
8 years$27,132$25,048$23,114$21,323$19,664$14,081
9 years$23,873$21,809$19,909$18,162$16,560$11,294
10 years$21,267$19,223$17,357$15,656$14,110$9,153
11 years$19,137$17,113$15,281$13,625$12,135$7,477
12 years$17,363$15,360$13,561$11,951$10,516$6,147
13 years$15,863$13,881$12,116$10,551$9,170$5,079
14 years$14,578$12,618$10,886$9,366$8,038$4,214
15 years$13,466$11,526$9,829$8,353$7,078$3,507
16 years$12,494$10,575$8,911$7,479$6,255$2,927
17 years$11,637$9,739$8,109$6,720$5,546$2,449
18 years$10,876$9,000$7,402$6,056$4,931$2,052
19 years$10,196$8,341$6,777$5,472$4,396$1,722
20 years$9,584$7,751$6,219$4,956$3,926$1,447
21 years$9,032$7,219$5,720$4,498$3,513$1,218
22 years$8,530$6,739$5,272$4,090$3,149$1,025
23 years$8,073$6,303$4,868$3,725$2,827$864
24 years$7,655$5,905$4,502$3,397$2,541$729
25 years$7,270$5,542$4,170$3,102$2,287$615
26 years$6,916$5,209$3,867$2,837$2,060$519
27 years$6,589$4,902$3,591$2,596$1,857$438
28 years$6,285$4,619$3,338$2,379$1,676$370
29 years$6,003$4,357$3,107$2,181$1,513$313
30 years$5,740$4,115$2,894$2,002$1,367$264
31 years$5,495$3,890$2,698$1,839$1,236$223
32 years$5,265$3,681$2,517$1,690$1,118$189
33 years$5,050$3,486$2,350$1,554$1,012$159
34 years$4,848$3,304$2,196$1,430$916$135
35 years$4,658$3,134$2,053$1,316$830$114
36 years$4,479$2,974$1,921$1,212$752$96
37 years$4,310$2,825$1,798$1,117$681$82
38 years$4,150$2,685$1,683$1,029$618$69
39 years$3,999$2,553$1,577$949$560$58
40 years$3,855$2,429$1,478$875$508$49
41 years$3,719$2,312$1,386$808$461$42
42 years$3,590$2,202$1,300$745$418$35
43 years$3,467$2,098$1,220$688$380$30
44 years$3,351$2,000$1,145$635$345$25
45 years$3,239$1,907$1,075$587$313$21
46 years$3,133$1,819$1,010$542$284$18
47 years$3,032$1,736$949$501$258$15
48 years$2,935$1,657$892$463$234$13
49 years$2,842$1,583$838$428$213$11
50 years$2,753$1,512$788$395$193$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,820,000, adding $3,490 every year, while hoping to spend $41,834 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: 54/26/20 Blend
57$2,820,000$2,820,000$2,820,000$2,820,000
58$3,111,240$2,961,780$2,918,070$3,262,129
59$3,384,075$3,062,396$2,971,314$3,466,521
60$3,683,338$3,166,540$3,024,940$3,684,199
61$4,011,679$3,274,341$3,078,916$3,920,255
62$4,372,019$3,385,933$3,133,209$4,176,455
63$4,767,575$3,501,454$3,187,781$4,454,744
64$5,201,890$3,621,047$3,242,594$4,757,263
65$5,678,868$3,744,864$3,297,607$5,086,366
66$6,202,809$3,873,059$3,352,773$5,444,645
67$6,778,450$4,005,793$3,408,045$5,834,954
68$7,411,010$4,143,235$3,463,372$6,260,434
69$8,106,237$4,285,557$3,518,699$6,724,541
70$8,870,465$4,432,942$3,573,968$7,231,082
71$9,710,672$4,585,576$3,629,116$7,784,248
72$10,634,547$4,743,655$3,684,077$8,388,653
73$11,650,558$4,907,381$3,738,781$9,049,379
74$12,768,037$5,076,965$3,793,153$9,772,022
75$13,997,267$5,252,627$3,847,113$10,562,742
76$15,349,576$5,434,593$3,900,579$11,428,326
77$16,837,444$5,623,100$3,953,460$12,376,248
78$18,474,625$5,818,393$4,005,662$13,414,738
79$20,276,271$6,020,728$4,057,086$14,552,864
80$22,259,077$6,230,371$4,107,625$15,800,611
81$24,441,441$6,447,596$4,157,168$17,168,979
82$26,843,631$6,672,692$4,205,597$18,670,084
83$29,487,984$6,905,956$4,252,786$20,317,273
84$32,399,109$7,147,699$4,298,605$22,125,249
85$35,604,124$7,398,242$4,342,915$24,110,208
86$39,132,911$7,657,922$4,385,569$26,289,994
87$43,018,394$7,927,087$4,426,412$28,684,264
88$47,296,856$8,206,099$4,465,282$31,314,672
89$52,008,274$8,495,337$4,502,008$34,205,077
90$57,196,701$8,795,192$4,536,408$37,381,765
91$62,910,681$9,106,073$4,568,295$40,873,694
92$69,203,705$9,428,404$4,597,466$44,712,771
93$76,134,715$9,762,628$4,623,714$48,934,148
94$83,768,663$10,109,205$4,646,815$53,576,558
95$92,177,123$10,468,611$4,666,540$58,682,676
96$101,438,963$10,841,347$4,682,643$64,299,519
97$111,641,094$11,227,930$4,694,868$70,478,896
98$122,879,286$11,628,899$4,702,946$77,277,888
99$135,259,073$12,044,815$4,706,595$84,759,394
100$148,896,752$12,476,264$4,705,519$92,992,716