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%17.4%
1 years$237,002$234,891$232,831$230,821$228,858$221,977
2 years$117,328$115,143$113,025$110,972$108,980$102,105
3 years$77,441$75,247$73,135$71,101$69,141$62,489
4 years$57,502$55,314$53,223$51,224$49,312$42,932
5 years$45,542$43,367$41,303$39,345$37,486$31,397
6 years$37,571$35,413$33,379$31,464$29,662$23,868
7 years$31,880$29,739$27,738$25,869$24,123$18,625
8 years$27,613$25,492$23,524$21,701$20,012$14,806
9 years$24,296$22,196$20,261$18,484$16,853$11,934
10 years$21,645$19,564$17,664$15,933$14,360$9,720
11 years$19,476$17,417$15,551$13,867$12,350$7,982
12 years$17,671$15,632$13,802$12,163$10,702$6,597
13 years$16,144$14,127$12,331$10,738$9,332$5,480
14 years$14,837$12,841$11,079$9,532$8,181$4,572
15 years$13,705$11,731$10,003$8,501$7,203$3,827
16 years$12,715$10,763$9,069$7,612$6,366$3,213
17 years$11,843$9,912$8,253$6,839$5,645$2,703
18 years$11,068$9,159$7,534$6,163$5,019$2,279
19 years$10,376$8,489$6,897$5,569$4,473$1,924
20 years$9,754$7,888$6,329$5,044$3,996$1,627
21 years$9,192$7,347$5,822$4,578$3,576$1,377
22 years$8,682$6,859$5,366$4,162$3,205$1,167
23 years$8,216$6,415$4,954$3,791$2,877$990
24 years$7,791$6,010$4,582$3,457$2,586$840
25 years$7,399$5,640$4,244$3,157$2,327$713
26 years$7,039$5,301$3,936$2,887$2,096$606
27 years$6,706$4,989$3,655$2,642$1,890$515
28 years$6,397$4,701$3,398$2,421$1,705$438
29 years$6,110$4,435$3,162$2,220$1,540$372
30 years$5,842$4,188$2,945$2,038$1,391$316
31 years$5,592$3,959$2,746$1,871$1,258$269
32 years$5,359$3,746$2,562$1,720$1,138$229
33 years$5,140$3,548$2,392$1,581$1,030$195
34 years$4,934$3,362$2,235$1,455$932$166
35 years$4,741$3,189$2,089$1,340$844$141
36 years$4,558$3,027$1,955$1,234$765$120
37 years$4,386$2,875$1,829$1,137$693$102
38 years$4,224$2,732$1,713$1,048$629$87
39 years$4,070$2,598$1,605$966$570$74
40 years$3,924$2,472$1,504$891$517$63
41 years$3,785$2,353$1,411$822$469$54
42 years$3,654$2,241$1,323$759$426$46
43 years$3,529$2,135$1,242$700$386$39
44 years$3,410$2,035$1,166$647$351$33
45 years$3,297$1,941$1,094$597$318$28
46 years$3,188$1,851$1,028$552$289$24
47 years$3,085$1,767$966$510$262$21
48 years$2,987$1,687$907$471$238$17
49 years$2,892$1,611$853$435$216$15
50 years$2,802$1,539$802$402$197$13

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 $5,299 every year, while hoping to spend $50,505 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: 67/13/20 Blend
57$2,870,000$2,870,000$2,870,000$2,870,000
58$3,168,206$3,016,096$2,971,611$3,364,305
59$3,437,626$3,110,148$3,017,423$3,590,344
60$3,732,834$3,207,115$3,063,077$3,831,106
61$4,056,408$3,307,088$3,108,514$4,093,180
62$4,411,184$3,410,159$3,153,673$4,378,663
63$4,800,291$3,516,422$3,198,486$4,689,861
64$5,227,170$3,625,976$3,242,885$5,029,316
65$5,695,614$3,738,922$3,286,794$5,399,826
66$6,209,800$3,855,362$3,330,136$5,804,474
67$6,774,330$3,975,406$3,372,826$6,246,655
68$7,394,273$4,099,162$3,414,776$6,730,108
69$8,075,212$4,226,744$3,455,895$7,258,952
70$8,823,299$4,358,270$3,496,083$7,837,725
71$9,645,310$4,493,859$3,535,236$8,471,426
72$10,548,710$4,633,637$3,573,244$9,165,560
73$11,541,723$4,777,730$3,609,993$9,926,194
74$12,633,411$4,926,271$3,645,360$10,760,010
75$13,833,755$5,079,395$3,679,216$11,674,372
76$15,153,755$5,237,241$3,711,426$12,677,390
77$16,605,526$5,399,955$3,741,847$13,778,001
78$18,202,420$5,567,683$3,770,330$14,986,053
79$19,959,146$5,740,578$3,796,714$16,312,394
80$21,891,910$5,918,797$3,820,836$17,768,977
81$24,018,570$6,102,503$3,842,518$19,368,973
82$26,358,799$6,291,862$3,861,578$21,126,893
83$28,934,278$6,487,044$3,877,823$23,058,728
84$31,768,893$6,688,227$3,891,048$25,182,096
85$34,888,962$6,895,593$3,901,040$27,516,412
86$38,323,488$7,109,328$3,907,576$30,083,066
87$42,104,424$7,329,626$3,910,421$32,905,631
88$46,266,982$7,556,685$3,909,327$36,010,080
89$50,849,960$7,790,708$3,904,035$39,425,035
90$55,896,110$8,031,906$3,894,274$43,182,033
91$61,452,540$8,280,497$3,879,759$47,315,828
92$67,571,159$8,536,701$3,860,191$51,864,715
93$74,309,166$8,800,749$3,835,257$56,870,893
94$81,729,592$9,072,876$3,804,628$62,380,865
95$89,901,889$9,353,325$3,767,962$68,445,873
96$98,902,590$9,642,347$3,724,897$75,122,384
97$108,816,031$9,940,198$3,675,058$82,472,624
98$119,735,141$10,247,143$3,618,047$90,565,162
99$131,762,327$10,563,455$3,553,454$99,475,560
100$145,010,434$10,889,413$3,480,843$109,287,085