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%17.1%
1 years$238,653$236,528$234,454$232,429$230,453$223,793
2 years$118,145$115,945$113,812$111,745$109,739$103,083
3 years$77,981$75,771$73,644$71,596$69,623$63,178
4 years$57,903$55,700$53,594$51,581$49,656$43,472
5 years$45,859$43,669$41,591$39,619$37,748$31,842
6 years$37,833$35,659$33,612$31,684$29,868$24,246
7 years$32,102$29,947$27,932$26,049$24,291$18,952
8 years$27,805$25,670$23,688$21,852$20,152$15,093
9 years$24,466$22,350$20,403$18,613$16,971$12,187
10 years$21,795$19,701$17,788$16,044$14,460$9,945
11 years$19,612$17,538$15,660$13,964$12,436$8,182
12 years$17,794$15,741$13,898$12,248$10,777$6,776
13 years$16,257$14,226$12,417$10,813$9,398$5,640
14 years$14,940$12,931$11,156$9,599$8,238$4,715
15 years$13,800$11,812$10,073$8,560$7,253$3,956
16 years$12,804$10,838$9,132$7,665$6,410$3,328
17 years$11,925$9,981$8,310$6,887$5,684$2,806
18 years$11,146$9,223$7,586$6,206$5,054$2,371
19 years$10,449$8,548$6,945$5,608$4,505$2,007
20 years$9,822$7,943$6,374$5,079$4,024$1,701
21 years$9,256$7,399$5,862$4,610$3,601$1,443
22 years$8,742$6,906$5,403$4,191$3,228$1,225
23 years$8,274$6,459$4,989$3,817$2,897$1,042
24 years$7,845$6,052$4,614$3,481$2,604$886
25 years$7,451$5,679$4,273$3,179$2,343$754
26 years$7,088$5,338$3,963$2,907$2,111$642
27 years$6,752$5,024$3,680$2,661$1,903$547
28 years$6,441$4,734$3,421$2,438$1,717$466
29 years$6,152$4,466$3,184$2,236$1,551$397
30 years$5,883$4,217$2,966$2,052$1,401$339
31 years$5,631$3,987$2,765$1,884$1,267$289
32 years$5,396$3,772$2,580$1,732$1,146$246
33 years$5,176$3,572$2,409$1,593$1,037$210
34 years$4,968$3,386$2,250$1,465$939$179
35 years$4,774$3,211$2,104$1,349$850$153
36 years$4,590$3,048$1,968$1,242$770$131
37 years$4,417$2,895$1,842$1,145$698$112
38 years$4,253$2,751$1,725$1,055$633$95
39 years$4,098$2,616$1,616$973$574$81
40 years$3,951$2,489$1,515$897$521$69
41 years$3,812$2,369$1,421$828$472$59
42 years$3,679$2,257$1,332$764$429$51
43 years$3,554$2,150$1,250$705$389$43
44 years$3,434$2,049$1,174$651$353$37
45 years$3,320$1,954$1,102$601$321$31
46 years$3,211$1,864$1,035$555$291$27
47 years$3,107$1,779$972$513$264$23
48 years$3,007$1,698$914$474$240$20
49 years$2,913$1,622$859$438$218$17
50 years$2,822$1,549$808$405$198$14

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 $2,513 every year, while hoping to spend $27,021 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: 71/13/16 Blend
57$2,890,000$2,890,000$2,890,000$2,890,000
58$3,187,372$3,034,202$2,989,407$3,401,748
59$3,483,734$3,154,128$3,060,802$3,664,425
60$3,809,419$3,279,024$3,133,683$3,948,408
61$4,167,390$3,409,107$3,208,072$4,258,610
62$4,560,910$3,544,599$3,283,989$4,597,620
63$4,993,576$3,685,737$3,361,455$4,968,286
64$5,469,348$3,832,766$3,440,491$5,373,746
65$5,992,591$3,985,941$3,521,117$5,817,452
66$6,568,114$4,145,531$3,603,353$6,303,206
67$7,201,215$4,311,816$3,687,220$6,835,197
68$7,897,732$4,485,088$3,772,734$7,418,033
69$8,664,097$4,665,653$3,859,917$8,056,793
70$9,507,396$4,853,831$3,948,785$8,757,068
71$10,435,437$5,049,956$4,039,356$9,525,015
72$11,456,825$5,254,377$4,131,648$10,367,418
73$12,581,039$5,467,459$4,225,676$11,291,746
74$13,818,524$5,689,584$4,321,456$12,306,227
75$15,180,792$5,921,151$4,419,002$13,419,922
76$16,680,523$6,162,578$4,518,329$14,642,815
77$18,331,692$6,414,300$4,619,449$15,985,900
78$20,149,697$6,676,774$4,722,373$17,461,291
79$22,151,507$6,950,476$4,827,113$19,082,329
80$24,355,817$7,235,906$4,933,678$20,863,712
81$26,783,230$7,533,585$5,042,076$22,821,634
82$29,456,447$7,844,059$5,152,313$24,973,932
83$32,400,485$8,167,897$5,264,395$27,340,257
84$35,642,907$8,505,698$5,378,326$29,942,259
85$39,214,091$8,858,084$5,494,107$32,803,790
86$43,147,506$9,225,708$5,611,738$35,951,128
87$47,480,038$9,609,254$5,731,217$39,413,225
88$52,252,330$10,009,435$5,852,541$43,221,978
89$57,509,169$10,426,999$5,975,703$47,412,531
90$63,299,910$10,862,728$6,100,694$52,023,604
91$69,678,938$11,317,438$6,227,504$57,097,861
92$76,706,183$11,791,986$6,356,119$62,682,306
93$84,447,687$12,287,267$6,486,523$68,828,730
94$92,976,225$12,804,217$6,618,695$75,594,200
95$102,371,993$13,343,816$6,752,614$83,041,592
96$112,723,362$13,907,090$6,888,253$91,240,186
97$124,127,719$14,495,110$7,025,583$100,266,320
98$136,692,376$15,109,001$7,164,570$110,204,106
99$150,535,594$15,749,937$7,305,178$121,146,227
100$165,787,688$16,419,148$7,447,365$133,194,806