Can I retire at age 58 with 2,850,000?

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 $2,850,000?

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$235,350$233,254$231,209$229,212$227,263$221,320
2 years$116,510$114,340$112,237$110,198$108,220$102,274
3 years$76,902$74,723$72,625$70,605$68,660$62,895
4 years$57,102$54,929$52,852$50,867$48,969$43,430
5 years$45,225$43,065$41,016$39,071$37,225$31,929
6 years$37,309$35,166$33,147$31,245$29,455$24,405
7 years$31,657$29,532$27,545$25,688$23,955$19,152
8 years$27,421$25,315$23,360$21,549$19,873$15,315
9 years$24,127$22,041$20,120$18,355$16,736$12,419
10 years$21,494$19,428$17,541$15,822$14,260$10,179
11 years$19,341$17,296$15,443$13,770$12,264$8,412
12 years$17,548$15,524$13,705$12,078$10,628$6,998
13 years$16,032$14,029$12,245$10,663$9,267$5,853
14 years$14,733$12,752$11,002$9,466$8,124$4,917
15 years$13,609$11,649$9,933$8,442$7,153$4,145
16 years$12,627$10,688$9,006$7,559$6,322$3,505
17 years$11,760$9,843$8,195$6,791$5,605$2,970
18 years$10,991$9,095$7,481$6,120$4,984$2,523
19 years$10,304$8,429$6,849$5,530$4,442$2,146
20 years$9,686$7,833$6,285$5,009$3,968$1,829
21 years$9,128$7,296$5,781$4,546$3,551$1,560
22 years$8,621$6,811$5,328$4,133$3,183$1,332
23 years$8,159$6,370$4,920$3,764$2,857$1,139
24 years$7,736$5,968$4,550$3,433$2,568$974
25 years$7,348$5,601$4,214$3,135$2,311$833
26 years$6,990$5,264$3,908$2,867$2,082$714
27 years$6,659$4,954$3,629$2,624$1,877$611
28 years$6,352$4,668$3,374$2,404$1,693$524
29 years$6,067$4,404$3,140$2,205$1,529$449
30 years$5,801$4,159$2,925$2,023$1,382$385
31 years$5,553$3,932$2,726$1,858$1,249$331
32 years$5,321$3,720$2,544$1,708$1,130$284
33 years$5,104$3,523$2,375$1,570$1,023$243
34 years$4,900$3,339$2,219$1,445$926$209
35 years$4,708$3,167$2,075$1,330$839$179
36 years$4,526$3,006$1,941$1,225$760$154
37 years$4,356$2,855$1,817$1,129$689$132
38 years$4,194$2,713$1,701$1,040$624$114
39 years$4,041$2,580$1,594$959$566$97
40 years$3,896$2,455$1,494$885$513$84
41 years$3,759$2,337$1,401$816$466$72
42 years$3,628$2,225$1,314$753$423$62
43 years$3,504$2,120$1,233$695$384$53
44 years$3,386$2,021$1,157$642$348$46
45 years$3,274$1,927$1,087$593$316$39
46 years$3,166$1,839$1,021$548$287$34
47 years$3,064$1,755$959$506$261$29
48 years$2,966$1,675$901$468$237$25
49 years$2,872$1,599$847$432$215$21
50 years$2,783$1,528$796$399$195$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,850,000, adding $5,208 every year, while hoping to spend $28,129 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: 69/11/20 Blend
57$2,850,000$2,850,000$2,850,000$2,850,000
58$3,146,072$2,995,022$2,950,847$3,347,303
59$3,437,042$3,111,849$3,019,771$3,599,190
60$3,756,749$3,233,458$3,090,062$3,870,927
61$4,108,093$3,360,053$3,161,735$4,167,585
62$4,494,271$3,491,848$3,234,805$4,491,621
63$4,918,805$3,629,067$3,309,289$4,845,743
64$5,385,573$3,771,942$3,385,201$5,232,930
65$5,898,852$3,920,717$3,462,555$5,656,464
66$6,463,349$4,075,646$3,541,365$6,119,957
67$7,084,253$4,236,995$3,621,644$6,627,388
68$7,767,282$4,405,043$3,703,403$7,183,140
69$8,518,733$4,580,078$3,786,656$7,792,037
70$9,345,546$4,762,405$3,871,411$8,459,393
71$10,255,368$4,952,339$3,957,680$9,191,061
72$11,256,625$5,150,213$4,045,471$9,993,488
73$12,358,598$5,356,371$4,134,792$10,873,774
74$13,571,518$5,571,176$4,225,650$11,839,741
75$14,906,654$5,795,004$4,318,051$12,900,002
76$16,376,425$6,028,252$4,411,998$14,064,048
77$17,994,516$6,271,332$4,507,496$15,342,332
78$19,776,005$6,524,675$4,604,545$16,746,370
79$21,737,506$6,788,733$4,703,146$18,288,846
80$23,897,327$7,063,976$4,803,296$19,983,737
81$26,275,641$7,350,898$4,904,994$21,846,438
82$28,894,679$7,650,014$5,008,233$23,893,910
83$31,778,934$7,961,863$5,113,007$26,144,839
84$34,955,399$8,287,008$5,219,306$28,619,814
85$38,453,816$8,626,037$5,327,119$31,341,515
86$42,306,960$8,979,568$5,436,433$34,334,931
87$46,550,946$9,348,244$5,547,230$37,627,597
88$51,225,573$9,732,738$5,659,492$41,249,846
89$56,374,694$10,133,754$5,773,198$45,235,102
90$62,046,635$10,552,031$5,888,322$49,620,191
91$68,294,648$10,988,336$6,004,837$54,445,687
92$75,177,415$11,443,478$6,122,712$59,756,299
93$82,759,601$11,918,298$6,241,912$65,601,286
94$91,112,463$12,413,678$6,362,400$72,034,925
95$100,314,526$12,930,540$6,484,132$79,117,023
96$110,452,320$13,469,848$6,607,063$86,913,477
97$121,621,199$14,032,613$6,731,142$95,496,899
98$133,926,240$14,619,890$6,856,314$104,947,297
99$147,483,236$15,232,783$6,982,519$115,352,834
100$162,419,785$15,872,449$7,109,692$126,810,654