Can I retire at age 58 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$233,699$231,617$229,586$227,604$225,668$216,629
2 years$115,692$113,538$111,450$109,425$107,461$98,468
3 years$76,362$74,198$72,115$70,110$68,178$59,513
4 years$56,701$54,544$52,481$50,510$48,625$40,356
5 years$44,907$42,763$40,728$38,797$36,964$29,111
6 years$37,047$34,919$32,914$31,026$29,248$21,816
7 years$31,435$29,325$27,352$25,508$23,787$16,772
8 years$27,228$25,137$23,196$21,398$19,733$13,130
9 years$23,958$21,886$19,979$18,226$16,618$10,415
10 years$21,343$19,292$17,418$15,711$14,160$8,345
11 years$19,205$17,174$15,335$13,674$12,178$6,738
12 years$17,424$15,415$13,609$11,994$10,553$5,473
13 years$15,919$13,930$12,159$10,589$9,202$4,467
14 years$14,630$12,662$10,925$9,399$8,067$3,660
15 years$13,514$11,567$9,864$8,383$7,103$3,007
16 years$12,538$10,613$8,943$7,506$6,277$2,477
17 years$11,678$9,774$8,138$6,744$5,566$2,045
18 years$10,914$9,032$7,429$6,077$4,949$1,691
19 years$10,232$8,370$6,801$5,492$4,411$1,400
20 years$9,618$7,778$6,241$4,974$3,940$1,160
21 years$9,064$7,245$5,741$4,514$3,526$963
22 years$8,561$6,763$5,291$4,104$3,160$799
23 years$8,102$6,325$4,885$3,738$2,837$664
24 years$7,682$5,926$4,518$3,409$2,550$552
25 years$7,296$5,562$4,185$3,113$2,295$459
26 years$6,941$5,227$3,881$2,847$2,067$382
27 years$6,612$4,919$3,604$2,606$1,863$318
28 years$6,307$4,635$3,350$2,387$1,681$264
29 years$6,024$4,373$3,118$2,189$1,518$220
30 years$5,761$4,130$2,904$2,009$1,372$183
31 years$5,514$3,904$2,707$1,845$1,240$153
32 years$5,284$3,694$2,526$1,696$1,122$127
33 years$5,068$3,498$2,359$1,559$1,015$106
34 years$4,865$3,316$2,204$1,435$919$88
35 years$4,674$3,145$2,060$1,321$833$73
36 years$4,495$2,985$1,927$1,216$754$61
37 years$4,325$2,835$1,804$1,121$684$51
38 years$4,165$2,694$1,689$1,033$620$42
39 years$4,013$2,562$1,583$953$562$35
40 years$3,869$2,437$1,483$879$510$29
41 years$3,733$2,320$1,391$811$463$25
42 years$3,603$2,210$1,305$748$420$20
43 years$3,480$2,105$1,224$691$381$17
44 years$3,362$2,007$1,149$638$346$14
45 years$3,251$1,914$1,079$589$314$12
46 years$3,144$1,826$1,014$544$285$10
47 years$3,042$1,742$952$503$259$8
48 years$2,945$1,663$895$464$235$7
49 years$2,852$1,588$841$429$213$6
50 years$2,763$1,517$791$397$194$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,830,000, adding $3,728 every year, while hoping to spend $38,573 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: 82/10/8 Blend
57$2,830,000$2,830,000$2,830,000$2,830,000
58$3,122,505$2,972,515$2,928,650$3,375,228
59$3,399,960$3,077,127$2,985,719$3,645,733
60$3,704,421$3,185,572$3,043,406$3,937,120
61$4,038,605$3,297,998$3,101,693$4,255,836
62$4,405,499$3,414,556$3,160,556$4,604,596
63$4,808,398$3,535,408$3,219,973$4,986,390
64$5,250,929$3,660,717$3,279,916$5,404,514
65$5,737,088$3,790,657$3,340,358$5,862,593
66$6,271,279$3,925,406$3,401,267$6,364,622
67$6,858,350$4,065,152$3,462,611$6,915,001
68$7,503,646$4,210,089$3,524,353$7,518,576
69$8,213,054$4,360,419$3,586,454$8,180,685
70$8,993,057$4,516,352$3,648,873$8,907,206
71$9,850,803$4,678,107$3,711,564$9,704,617
72$10,794,164$4,845,913$3,774,480$10,580,051
73$11,831,812$5,020,006$3,837,568$11,541,366
74$12,973,304$5,200,634$3,900,774$12,597,221
75$14,229,170$5,388,054$3,964,040$13,757,151
76$15,611,012$5,582,535$4,027,301$15,031,663
77$17,131,610$5,784,354$4,090,491$16,432,331
78$18,805,051$5,993,804$4,153,538$17,971,909
79$20,646,851$6,211,186$4,216,367$19,664,445
80$22,674,112$6,436,815$4,278,897$21,525,416
81$24,905,673$6,671,021$4,341,042$23,571,877
82$27,362,296$6,914,146$4,402,712$25,822,616
83$30,066,857$7,166,545$4,463,809$28,298,333
84$33,044,561$7,428,590$4,524,231$31,021,838
85$36,323,183$7,700,669$4,583,870$34,018,261
86$39,933,330$7,983,183$4,642,611$37,315,290
87$43,908,725$8,276,554$4,700,334$40,943,436
88$48,286,529$8,581,220$4,756,910$44,936,313
89$53,107,691$8,897,636$4,812,202$49,330,962
90$58,417,334$9,226,279$4,866,070$54,168,195
91$64,265,179$9,567,643$4,918,360$59,492,983
92$70,706,017$9,922,247$4,968,915$65,354,877
93$77,800,222$10,290,629$5,017,565$71,808,479
94$85,614,326$10,673,351$5,064,134$78,913,951
95$94,221,640$11,070,998$5,108,436$86,737,590
96$103,702,952$11,484,181$5,150,273$95,352,445
97$114,147,284$11,913,538$5,189,438$104,839,011
98$125,652,738$12,359,732$5,225,715$115,285,987
99$138,327,414$12,823,456$5,258,874$126,791,113
100$152,290,438$13,305,432$5,288,673$139,462,091