Can I retire at age 58 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$238,653$236,528$234,454$232,429$230,453$226,449
2 years$118,145$115,945$113,812$111,745$109,739$105,718
3 years$77,981$75,771$73,644$71,596$69,623$65,710
4 years$57,903$55,700$53,594$51,581$49,656$45,881
5 years$45,859$43,669$41,591$39,619$37,748$34,122
6 years$37,833$35,659$33,612$31,684$29,868$26,397
7 years$32,102$29,947$27,932$26,049$24,291$20,973
8 years$27,805$25,670$23,688$21,852$20,152$16,988
9 years$24,466$22,350$20,403$18,613$16,971$13,959
10 years$21,795$19,701$17,788$16,044$14,460$11,597
11 years$19,612$17,538$15,660$13,964$12,436$9,719
12 years$17,794$15,741$13,898$12,248$10,777$8,202
13 years$16,257$14,226$12,417$10,813$9,398$6,962
14 years$14,940$12,931$11,156$9,599$8,238$5,936
15 years$13,800$11,812$10,073$8,560$7,253$5,081
16 years$12,804$10,838$9,132$7,665$6,410$4,364
17 years$11,925$9,981$8,310$6,887$5,684$3,758
18 years$11,146$9,223$7,586$6,206$5,054$3,243
19 years$10,449$8,548$6,945$5,608$4,505$2,805
20 years$9,822$7,943$6,374$5,079$4,024$2,430
21 years$9,256$7,399$5,862$4,610$3,601$2,108
22 years$8,742$6,906$5,403$4,191$3,228$1,831
23 years$8,274$6,459$4,989$3,817$2,897$1,592
24 years$7,845$6,052$4,614$3,481$2,604$1,385
25 years$7,451$5,679$4,273$3,179$2,343$1,207
26 years$7,088$5,338$3,963$2,907$2,111$1,052
27 years$6,752$5,024$3,680$2,661$1,903$917
28 years$6,441$4,734$3,421$2,438$1,717$800
29 years$6,152$4,466$3,184$2,236$1,551$699
30 years$5,883$4,217$2,966$2,052$1,401$610
31 years$5,631$3,987$2,765$1,884$1,267$533
32 years$5,396$3,772$2,580$1,732$1,146$466
33 years$5,176$3,572$2,409$1,593$1,037$407
34 years$4,968$3,386$2,250$1,465$939$356
35 years$4,774$3,211$2,104$1,349$850$311
36 years$4,590$3,048$1,968$1,242$770$272
37 years$4,417$2,895$1,842$1,145$698$238
38 years$4,253$2,751$1,725$1,055$633$208
39 years$4,098$2,616$1,616$973$574$182
40 years$3,951$2,489$1,515$897$521$160
41 years$3,812$2,369$1,421$828$472$140
42 years$3,679$2,257$1,332$764$429$122
43 years$3,554$2,150$1,250$705$389$107
44 years$3,434$2,049$1,174$651$353$94
45 years$3,320$1,954$1,102$601$321$82
46 years$3,211$1,864$1,035$555$291$72
47 years$3,107$1,779$972$513$264$63
48 years$3,007$1,698$914$474$240$55
49 years$2,913$1,622$859$438$218$48
50 years$2,822$1,549$808$405$198$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,890,000, adding $3,159 every year, while hoping to spend $44,251 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: 76/19/5 Blend
57$2,890,000$2,890,000$2,890,000$2,890,000
58$3,188,039$3,034,869$2,990,074$3,429,149
59$3,466,136$3,136,494$3,043,158$3,689,515
60$3,771,116$3,241,617$3,096,538$3,968,783
61$4,105,674$3,350,360$3,150,177$4,273,563
62$4,472,779$3,462,854$3,204,034$4,606,365
63$4,875,701$3,579,233$3,258,068$4,969,952
64$5,318,042$3,699,635$3,312,232$5,367,367
65$5,803,770$3,824,205$3,366,480$5,801,958
66$6,337,256$3,953,092$3,420,758$6,277,415
67$6,923,315$4,086,452$3,475,012$6,797,797
68$7,567,251$4,224,446$3,529,183$7,367,577
69$8,274,908$4,367,241$3,583,208$7,991,680
70$9,052,723$4,515,011$3,637,020$8,675,528
71$9,907,789$4,667,935$3,690,549$9,425,093
72$10,847,921$4,826,201$3,743,720$10,246,954
73$11,881,726$4,990,002$3,796,452$11,148,355
74$13,018,690$5,159,540$3,848,660$12,137,276
75$14,269,263$5,335,024$3,900,257$13,222,507
76$15,644,958$5,516,670$3,951,146$14,413,728
77$17,158,461$5,704,704$4,001,226$15,721,604
78$18,823,749$5,899,360$4,050,393$17,157,884
79$20,656,224$6,100,881$4,098,533$18,735,507
80$22,672,853$6,309,518$4,145,528$20,468,730
81$24,892,333$6,525,534$4,191,253$22,373,259
82$27,335,267$6,749,201$4,235,576$24,466,393
83$30,024,353$6,980,800$4,278,356$26,767,195
84$32,984,603$7,220,626$4,319,448$29,296,664
85$36,243,579$7,468,983$4,358,695$32,077,934
86$39,831,649$7,726,188$4,395,936$35,136,496
87$43,782,275$7,992,570$4,430,998$38,500,432
88$48,132,331$8,268,469$4,463,701$42,200,683
89$52,922,447$8,554,242$4,493,853$46,271,339
90$58,197,394$8,850,258$4,521,254$50,749,961
91$64,006,507$9,156,899$4,545,695$55,677,932
92$70,404,148$9,474,564$4,566,953$61,100,851
93$77,450,221$9,803,668$4,584,796$67,068,959
94$85,210,736$10,144,641$4,598,980$73,637,615
95$93,758,433$10,497,930$4,609,247$80,867,815
96$103,173,465$10,864,001$4,615,329$88,826,770
97$113,544,159$11,243,336$4,616,942$97,588,535
98$124,967,843$11,636,440$4,613,790$107,234,712
99$137,551,772$12,043,834$4,605,561$117,855,217
100$151,414,133$12,466,063$4,591,928$129,549,125