Can I retire at age 58 with 2,880,000?

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 $2,880,000?

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$237,828$235,709$233,642$231,625$229,655$222,750
2 years$117,736$115,544$113,419$111,358$109,360$102,461
3 years$77,711$75,509$73,389$71,348$69,382$62,706
4 years$57,703$55,507$53,409$51,402$49,484$43,082
5 years$45,701$43,518$41,447$39,482$37,617$31,506
6 years$37,702$35,536$33,496$31,574$29,765$23,951
7 years$31,991$29,843$27,835$25,959$24,207$18,690
8 years$27,709$25,581$23,606$21,776$20,082$14,858
9 years$24,381$22,273$20,332$18,548$16,912$11,975
10 years$21,720$19,632$17,726$15,989$14,410$9,754
11 years$19,544$17,478$15,606$13,915$12,393$8,009
12 years$17,732$15,687$13,850$12,205$10,739$6,620
13 years$16,200$14,176$12,374$10,776$9,365$5,499
14 years$14,888$12,886$11,118$9,565$8,209$4,588
15 years$13,752$11,772$10,038$8,531$7,228$3,840
16 years$12,759$10,800$9,101$7,638$6,388$3,224
17 years$11,884$9,947$8,281$6,863$5,664$2,713
18 years$11,107$9,191$7,560$6,185$5,036$2,287
19 years$10,413$8,518$6,921$5,589$4,489$1,931
20 years$9,788$7,916$6,351$5,062$4,010$1,633
21 years$9,224$7,373$5,842$4,594$3,588$1,382
22 years$8,712$6,882$5,384$4,177$3,216$1,171
23 years$8,245$6,437$4,972$3,804$2,887$993
24 years$7,818$6,031$4,598$3,469$2,595$843
25 years$7,425$5,660$4,259$3,168$2,335$715
26 years$7,063$5,319$3,950$2,897$2,103$608
27 years$6,729$5,006$3,668$2,652$1,896$517
28 years$6,419$4,717$3,409$2,429$1,711$439
29 years$6,131$4,450$3,173$2,228$1,545$373
30 years$5,862$4,203$2,955$2,045$1,396$318
31 years$5,612$3,973$2,755$1,878$1,262$270
32 years$5,377$3,759$2,571$1,726$1,142$230
33 years$5,158$3,560$2,400$1,587$1,033$196
34 years$4,951$3,374$2,243$1,460$936$167
35 years$4,757$3,200$2,097$1,344$847$142
36 years$4,574$3,038$1,961$1,238$768$121
37 years$4,401$2,885$1,836$1,141$696$103
38 years$4,238$2,742$1,719$1,051$631$87
39 years$4,084$2,607$1,611$969$572$74
40 years$3,937$2,480$1,510$894$519$63
41 years$3,799$2,361$1,416$825$471$54
42 years$3,667$2,249$1,328$761$427$46
43 years$3,541$2,143$1,246$703$388$39
44 years$3,422$2,042$1,170$649$352$33
45 years$3,308$1,948$1,098$599$319$28
46 years$3,200$1,858$1,031$554$290$24
47 years$3,096$1,773$969$511$263$21
48 years$2,997$1,693$911$473$239$18
49 years$2,902$1,616$856$437$217$15
50 years$2,812$1,544$805$404$197$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,880,000, adding $3,928 every year, while hoping to spend $53,286 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: 53/35/12 Blend
57$2,880,000$2,880,000$2,880,000$2,880,000
58$3,177,812$3,025,172$2,980,532$3,336,065
59$3,445,253$3,116,709$3,023,684$3,535,797
60$3,738,187$3,210,946$3,066,495$3,746,930
61$4,059,158$3,307,959$3,108,899$3,975,412
62$4,410,968$3,407,824$3,150,823$4,222,899
63$4,796,702$3,510,623$3,192,191$4,491,211
64$5,219,759$3,616,438$3,232,923$4,782,356
65$5,683,883$3,725,352$3,272,935$5,098,539
66$6,193,197$3,837,451$3,312,135$5,442,189
67$6,752,241$3,952,825$3,350,430$5,815,980
68$7,366,019$4,071,563$3,387,719$6,222,855
69$8,040,042$4,193,758$3,423,896$6,666,053
70$8,780,379$4,319,505$3,458,850$7,149,141
71$9,593,719$4,448,902$3,492,463$7,676,046
72$10,487,429$4,582,048$3,524,610$8,251,092
73$11,469,623$4,719,046$3,555,162$8,879,042
74$12,549,245$4,860,000$3,583,980$9,565,138
75$13,736,145$5,005,016$3,610,920$10,315,156
76$15,041,175$5,154,205$3,635,829$11,135,457
77$16,476,292$5,307,678$3,658,546$12,033,044
78$18,054,670$5,465,551$3,678,904$13,015,634
79$19,790,823$5,627,940$3,696,724$14,091,725
80$21,700,743$5,794,965$3,711,820$15,270,678
81$23,802,049$5,966,748$3,723,997$16,562,805
82$26,114,155$6,143,416$3,733,048$17,979,466
83$28,658,452$6,325,096$3,738,758$19,533,174
84$31,458,507$6,511,919$3,740,899$21,237,714
85$34,540,290$6,704,018$3,739,234$23,108,275
86$37,932,415$6,901,530$3,733,514$25,161,587
87$41,666,410$7,104,594$3,723,476$27,416,085
88$45,777,017$7,313,353$3,708,845$29,892,078
89$50,302,516$7,527,950$3,689,335$32,611,941
90$55,285,088$7,748,535$3,664,642$35,600,327
91$60,771,211$7,975,257$3,634,452$38,884,400
92$66,812,100$8,208,270$3,598,432$42,494,088
93$73,464,190$8,447,731$3,556,235$46,462,367
94$80,789,667$8,693,799$3,507,498$50,825,570
95$88,857,054$8,946,637$3,451,841$55,623,733
96$97,741,860$9,206,409$3,388,864$60,900,968
97$107,527,291$9,473,284$3,318,152$66,705,883
98$118,305,032$9,747,432$3,239,267$73,092,037
99$130,176,116$10,029,026$3,151,753$80,118,447
100$143,251,875$10,318,245$3,055,133$87,850,143