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

Use the below retirement simulation to view the chances of a successful retirement.
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%11.4%
1 years$235,350$233,254$231,209$229,212$227,263$225,925
2 years$116,510$114,340$112,237$110,198$108,220$106,871
3 years$76,902$74,723$72,625$70,605$68,660$67,340
4 years$57,102$54,929$52,852$50,867$48,969$47,689
5 years$45,225$43,065$41,016$39,071$37,225$35,990
6 years$37,309$35,166$33,147$31,245$29,455$28,265
7 years$31,657$29,532$27,545$25,688$23,955$22,811
8 years$27,421$25,315$23,360$21,549$19,873$18,775
9 years$24,127$22,041$20,120$18,355$16,736$15,683
10 years$21,494$19,428$17,541$15,822$14,260$13,253
11 years$19,341$17,296$15,443$13,770$12,264$11,301
12 years$17,548$15,524$13,705$12,078$10,628$9,709
13 years$16,032$14,029$12,245$10,663$9,267$8,392
14 years$14,733$12,752$11,002$9,466$8,124$7,290
15 years$13,609$11,649$9,933$8,442$7,153$6,360
16 years$12,627$10,688$9,006$7,559$6,322$5,568
17 years$11,760$9,843$8,195$6,791$5,605$4,890
18 years$10,991$9,095$7,481$6,120$4,984$4,306
19 years$10,304$8,429$6,849$5,530$4,442$3,800
20 years$9,686$7,833$6,285$5,009$3,968$3,361
21 years$9,128$7,296$5,781$4,546$3,551$2,977
22 years$8,621$6,811$5,328$4,133$3,183$2,641
23 years$8,159$6,370$4,920$3,764$2,857$2,346
24 years$7,736$5,968$4,550$3,433$2,568$2,087
25 years$7,348$5,601$4,214$3,135$2,311$1,858
26 years$6,990$5,264$3,908$2,867$2,082$1,655
27 years$6,659$4,954$3,629$2,624$1,877$1,476
28 years$6,352$4,668$3,374$2,404$1,693$1,318
29 years$6,067$4,404$3,140$2,205$1,529$1,177
30 years$5,801$4,159$2,925$2,023$1,382$1,051
31 years$5,553$3,932$2,726$1,858$1,249$940
32 years$5,321$3,720$2,544$1,708$1,130$840
33 years$5,104$3,523$2,375$1,570$1,023$752
34 years$4,900$3,339$2,219$1,445$926$673
35 years$4,708$3,167$2,075$1,330$839$602
36 years$4,526$3,006$1,941$1,225$760$540
37 years$4,356$2,855$1,817$1,129$689$483
38 years$4,194$2,713$1,701$1,040$624$433
39 years$4,041$2,580$1,594$959$566$388
40 years$3,896$2,455$1,494$885$513$348
41 years$3,759$2,337$1,401$816$466$312
42 years$3,628$2,225$1,314$753$423$279
43 years$3,504$2,120$1,233$695$384$251
44 years$3,386$2,021$1,157$642$348$225
45 years$3,274$1,927$1,087$593$316$202
46 years$3,166$1,839$1,021$548$287$181
47 years$3,064$1,755$959$506$261$162
48 years$2,966$1,675$901$468$237$145
49 years$2,872$1,599$847$432$215$131
50 years$2,783$1,528$796$399$195$117

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 $6,368 every year, while hoping to spend $45,747 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: 73/6/21 Blend
57$2,850,000$2,850,000$2,850,000$2,850,000
58$3,147,269$2,996,219$2,952,044$3,360,576
59$3,419,616$3,094,359$3,002,263$3,601,409
60$3,718,209$3,195,775$3,052,631$3,859,059
61$4,045,677$3,300,578$3,103,105$4,140,179
62$4,404,915$3,408,886$3,153,638$4,447,094
63$4,799,113$3,520,818$3,204,182$4,782,367
64$5,231,783$3,636,499$3,254,682$5,148,821
65$5,706,796$3,756,058$3,305,085$5,549,565
66$6,228,413$3,879,629$3,355,329$5,988,023
67$6,801,329$4,007,349$3,405,351$6,467,968
68$7,430,719$4,139,363$3,455,084$6,993,555
69$8,122,279$4,275,818$3,504,456$7,569,362
70$8,882,287$4,416,869$3,553,391$8,200,433
71$9,717,660$4,562,675$3,601,809$8,892,325
72$10,636,016$4,713,401$3,649,624$9,651,157
73$11,645,749$4,869,218$3,696,747$10,483,676
74$12,756,109$5,030,303$3,743,081$11,397,311
75$13,977,284$5,196,839$3,788,526$12,400,248
76$15,320,500$5,369,018$3,832,975$13,501,508
77$16,798,127$5,547,036$3,876,316$14,711,030
78$18,423,792$5,731,097$3,918,428$16,039,764
79$20,212,511$5,921,413$3,959,188$17,499,775
80$22,180,829$6,118,203$3,998,462$19,104,358
81$24,346,974$6,321,695$4,036,111$20,868,162
82$26,731,032$6,532,125$4,071,988$22,807,329
83$29,355,135$6,749,738$4,105,937$24,939,644
84$32,243,670$6,974,785$4,137,797$27,284,706
85$35,423,505$7,207,531$4,167,394$29,864,110
86$38,924,250$7,448,247$4,194,549$32,701,654
87$42,778,528$7,697,216$4,219,071$35,823,558
88$47,022,289$7,954,731$4,240,761$39,258,718
89$51,695,145$8,221,095$4,259,409$43,038,973
90$56,840,744$8,496,623$4,274,794$47,199,411
91$62,507,184$8,781,642$4,286,683$51,778,694
92$68,747,465$9,076,490$4,294,835$56,819,426
93$75,619,987$9,381,519$4,298,993$62,368,557
94$83,189,106$9,697,094$4,298,890$68,477,822
95$91,525,735$10,023,592$4,294,243$75,204,231
96$100,708,018$10,361,405$4,284,757$82,610,609
97$110,822,063$10,710,941$4,270,124$90,766,185
98$121,962,758$11,072,622$4,250,018$99,747,250
99$134,234,664$11,446,886$4,224,099$109,637,872
100$147,753,004$11,834,187$4,192,010$120,530,696