Can I retire at age 58 with 2,870,000?

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 $2,870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$237,002$234,891$232,831$230,821$228,858$224,697
2 years$117,328$115,143$113,025$110,972$108,980$104,803
3 years$77,441$75,247$73,135$71,101$69,141$65,078
4 years$57,502$55,314$53,223$51,224$49,312$45,394
5 years$45,542$43,367$41,303$39,345$37,486$33,724
6 years$37,571$35,413$33,379$31,464$29,662$26,060
7 years$31,880$29,739$27,738$25,869$24,123$20,683
8 years$27,613$25,492$23,524$21,701$20,012$16,733
9 years$24,296$22,196$20,261$18,484$16,853$13,733
10 years$21,645$19,564$17,664$15,933$14,360$11,396
11 years$19,476$17,417$15,551$13,867$12,350$9,538
12 years$17,671$15,632$13,802$12,163$10,702$8,039
13 years$16,144$14,127$12,331$10,738$9,332$6,814
14 years$14,837$12,841$11,079$9,532$8,181$5,803
15 years$13,705$11,731$10,003$8,501$7,203$4,960
16 years$12,715$10,763$9,069$7,612$6,366$4,254
17 years$11,843$9,912$8,253$6,839$5,645$3,658
18 years$11,068$9,159$7,534$6,163$5,019$3,153
19 years$10,376$8,489$6,897$5,569$4,473$2,722
20 years$9,754$7,888$6,329$5,044$3,996$2,355
21 years$9,192$7,347$5,822$4,578$3,576$2,040
22 years$8,682$6,859$5,366$4,162$3,205$1,769
23 years$8,216$6,415$4,954$3,791$2,877$1,536
24 years$7,791$6,010$4,582$3,457$2,586$1,334
25 years$7,399$5,640$4,244$3,157$2,327$1,160
26 years$7,039$5,301$3,936$2,887$2,096$1,010
27 years$6,706$4,989$3,655$2,642$1,890$879
28 years$6,397$4,701$3,398$2,421$1,705$766
29 years$6,110$4,435$3,162$2,220$1,540$668
30 years$5,842$4,188$2,945$2,038$1,391$582
31 years$5,592$3,959$2,746$1,871$1,258$508
32 years$5,359$3,746$2,562$1,720$1,138$443
33 years$5,140$3,548$2,392$1,581$1,030$386
34 years$4,934$3,362$2,235$1,455$932$337
35 years$4,741$3,189$2,089$1,340$844$294
36 years$4,558$3,027$1,955$1,234$765$257
37 years$4,386$2,875$1,829$1,137$693$224
38 years$4,224$2,732$1,713$1,048$629$196
39 years$4,070$2,598$1,605$966$570$171
40 years$3,924$2,472$1,504$891$517$150
41 years$3,785$2,353$1,411$822$469$131
42 years$3,654$2,241$1,323$759$426$114
43 years$3,529$2,135$1,242$700$386$100
44 years$3,410$2,035$1,166$647$351$87
45 years$3,297$1,941$1,094$597$318$76
46 years$3,188$1,851$1,028$552$289$67
47 years$3,085$1,767$966$510$262$58
48 years$2,987$1,687$907$471$238$51
49 years$2,892$1,611$853$435$216$44
50 years$2,802$1,539$802$402$197$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,870,000, adding $5,969 every year, while hoping to spend $35,160 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: 47/44/9 Blend
57$2,870,000$2,870,000$2,870,000$2,870,000
58$3,168,897$3,016,787$2,972,302$3,309,749
59$3,454,715$3,127,200$3,034,464$3,517,689
60$3,768,507$3,241,844$3,097,530$3,739,081
61$4,113,091$3,360,890$3,161,494$3,978,540
62$4,491,568$3,484,516$3,226,346$4,237,752
63$4,907,357$3,612,907$3,292,078$4,518,573
64$5,364,223$3,746,254$3,358,677$4,823,042
65$5,866,312$3,884,759$3,426,131$5,153,396
66$6,418,195$4,028,632$3,494,426$5,512,100
67$7,024,907$4,178,090$3,563,545$5,901,859
68$7,691,992$4,333,361$3,633,469$6,325,650
69$8,425,562$4,494,683$3,704,177$6,786,745
70$9,232,350$4,662,303$3,775,647$7,288,743
71$10,119,772$4,836,478$3,847,854$7,835,604
72$11,096,002$5,017,479$3,920,770$8,431,681
73$12,170,044$5,205,585$3,994,365$9,081,766
74$13,351,818$5,401,089$4,068,607$9,791,128
75$14,652,258$5,604,296$4,143,459$10,565,569
76$16,083,406$5,815,524$4,218,883$11,411,468
77$17,658,535$6,035,107$4,294,837$12,335,851
78$19,392,268$6,263,389$4,371,277$13,346,446
79$21,300,718$6,500,733$4,448,152$14,451,761
80$23,401,638$6,747,516$4,525,412$15,661,162
81$25,714,591$7,004,131$4,603,000$16,984,957
82$28,261,135$7,270,989$4,680,856$18,434,496
83$31,065,021$7,548,517$4,758,915$20,022,271
84$34,152,422$7,837,164$4,837,108$21,762,041
85$37,552,180$8,137,396$4,915,362$23,668,951
86$41,296,074$8,449,700$4,993,598$25,759,679
87$45,419,123$8,774,585$5,071,733$28,052,590
88$49,959,914$9,112,580$5,149,677$30,567,906
89$54,960,970$9,464,241$5,227,335$33,327,899
90$60,469,145$9,830,145$5,304,607$36,357,094
91$66,536,072$10,210,896$5,381,385$39,682,502
92$73,218,646$10,607,125$5,457,557$43,333,874
93$80,579,563$11,019,490$5,533,000$47,343,974
94$88,687,912$11,448,678$5,607,589$51,748,891
95$97,619,823$11,895,407$5,681,187$56,588,376
96$107,459,189$12,360,426$5,753,651$61,906,213
97$118,298,459$12,844,519$5,824,831$67,750,632
98$130,239,505$13,348,504$5,894,566$74,174,761
99$143,394,587$13,873,233$5,962,687$81,237,121
100$157,887,413$14,419,600$6,029,015$89,002,182