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%15.3%
1 years$235,350$233,254$231,209$229,212$227,263$222,311
2 years$116,510$114,340$112,237$110,198$108,220$103,256
3 years$76,902$74,723$72,625$70,605$68,660$63,838
4 years$57,102$54,929$52,852$50,867$48,969$44,327
5 years$45,225$43,065$41,016$39,071$37,225$32,777
6 years$37,309$35,166$33,147$31,245$29,455$25,205
7 years$31,657$29,532$27,545$25,688$23,955$19,903
8 years$27,421$25,315$23,360$21,549$19,873$16,018
9 years$24,127$22,041$20,120$18,355$16,736$13,075
10 years$21,494$19,428$17,541$15,822$14,260$10,790
11 years$19,341$17,296$15,443$13,770$12,264$8,980
12 years$17,548$15,524$13,705$12,078$10,628$7,525
13 years$16,032$14,029$12,245$10,663$9,267$6,340
14 years$14,733$12,752$11,002$9,466$8,124$5,366
15 years$13,609$11,649$9,933$8,442$7,153$4,559
16 years$12,627$10,688$9,006$7,559$6,322$3,885
17 years$11,760$9,843$8,195$6,791$5,605$3,319
18 years$10,991$9,095$7,481$6,120$4,984$2,842
19 years$10,304$8,429$6,849$5,530$4,442$2,438
20 years$9,686$7,833$6,285$5,009$3,968$2,094
21 years$9,128$7,296$5,781$4,546$3,551$1,802
22 years$8,621$6,811$5,328$4,133$3,183$1,552
23 years$8,159$6,370$4,920$3,764$2,857$1,338
24 years$7,736$5,968$4,550$3,433$2,568$1,154
25 years$7,348$5,601$4,214$3,135$2,311$996
26 years$6,990$5,264$3,908$2,867$2,082$861
27 years$6,659$4,954$3,629$2,624$1,877$744
28 years$6,352$4,668$3,374$2,404$1,693$644
29 years$6,067$4,404$3,140$2,205$1,529$557
30 years$5,801$4,159$2,925$2,023$1,382$482
31 years$5,553$3,932$2,726$1,858$1,249$417
32 years$5,321$3,720$2,544$1,708$1,130$361
33 years$5,104$3,523$2,375$1,570$1,023$313
34 years$4,900$3,339$2,219$1,445$926$271
35 years$4,708$3,167$2,075$1,330$839$235
36 years$4,526$3,006$1,941$1,225$760$203
37 years$4,356$2,855$1,817$1,129$689$176
38 years$4,194$2,713$1,701$1,040$624$153
39 years$4,041$2,580$1,594$959$566$132
40 years$3,896$2,455$1,494$885$513$115
41 years$3,759$2,337$1,401$816$466$100
42 years$3,628$2,225$1,314$753$423$86
43 years$3,504$2,120$1,233$695$384$75
44 years$3,386$2,021$1,157$642$348$65
45 years$3,274$1,927$1,087$593$316$56
46 years$3,166$1,839$1,021$548$287$49
47 years$3,064$1,755$959$506$261$42
48 years$2,966$1,675$901$468$237$37
49 years$2,872$1,599$847$432$215$32
50 years$2,783$1,528$796$399$195$28

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 $6,886 every year, while hoping to spend $40,483 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: 74/17/9 Blend
57$2,850,000$2,850,000$2,850,000$2,850,000
58$3,147,803$2,996,753$2,952,578$3,375,399
59$3,425,805$3,100,520$3,008,416$3,630,159
60$3,730,807$3,208,015$3,064,767$3,903,411
61$4,065,519$3,319,378$3,121,607$4,201,630
62$4,432,929$3,434,754$3,178,907$4,527,275
63$4,836,325$3,554,294$3,236,638$4,883,053
64$5,279,331$3,678,156$3,294,766$5,271,944
65$5,765,939$3,806,502$3,353,258$5,697,230
66$6,300,548$3,939,503$3,412,075$6,162,523
67$6,888,000$4,077,336$3,471,176$6,671,802
68$7,533,634$4,220,183$3,530,518$7,229,448
69$8,243,329$4,368,236$3,590,054$7,840,286
70$9,023,563$4,521,694$3,649,735$8,509,629
71$9,881,471$4,680,762$3,709,507$9,243,328
72$10,824,918$4,845,656$3,769,312$10,047,830
73$11,862,566$5,016,600$3,829,090$10,930,232
74$13,003,960$5,193,825$3,888,777$11,898,354
75$14,259,615$5,377,574$3,948,302$12,960,808
76$15,641,118$5,568,097$4,007,593$14,127,081
77$17,161,236$5,765,658$4,066,571$15,407,623
78$18,834,035$5,970,528$4,125,154$16,813,946
79$20,675,014$6,182,991$4,183,253$18,358,732
80$22,701,249$6,403,341$4,240,776$20,055,951
81$24,931,558$6,631,886$4,297,623$21,920,993
82$27,386,674$6,868,945$4,353,691$23,970,814
83$30,089,442$7,114,852$4,408,868$26,224,093
84$33,065,037$7,369,952$4,463,037$28,701,410
85$36,341,197$7,634,605$4,516,074$31,425,437
86$39,948,486$7,909,188$4,567,849$34,421,155
87$43,920,584$8,194,090$4,618,225$37,716,086
88$48,294,602$8,489,719$4,667,054$41,340,553
89$53,111,435$8,796,499$4,714,184$45,327,965
90$58,416,145$9,114,871$4,759,452$49,715,134
91$64,258,386$9,445,294$4,802,688$54,542,619
92$70,692,875$9,788,247$4,843,712$59,855,109
93$77,779,907$10,144,230$4,882,335$65,701,844
94$85,585,921$10,513,760$4,918,357$72,137,080
95$94,184,131$10,897,381$4,951,568$79,220,597
96$103,655,215$11,295,655$4,981,748$87,018,268
97$114,088,074$11,709,169$5,008,664$95,602,673
98$125,580,676$12,138,537$5,032,073$105,053,789
99$138,240,976$12,584,396$5,051,718$115,459,743
100$152,187,935$13,047,411$5,067,330$126,917,638