Can I retire at age 58 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$239,479$237,346$235,265$233,234$231,250$227,606
2 years$118,554$116,346$114,206$112,132$110,119$106,458
3 years$78,251$76,033$73,899$71,844$69,864$66,299
4 years$58,103$55,893$53,780$51,759$49,828$46,386
5 years$46,018$43,821$41,735$39,756$37,878$34,570
6 years$37,964$35,783$33,728$31,793$29,972$26,801
7 years$32,213$30,050$28,028$26,139$24,375$21,342
8 years$27,902$25,759$23,770$21,927$20,221$17,327
9 years$24,550$22,428$20,473$18,677$17,029$14,271
10 years$21,871$19,769$17,849$16,100$14,510$11,885
11 years$19,680$17,599$15,714$14,012$12,479$9,986
12 years$17,855$15,796$13,946$12,290$10,814$8,449
13 years$16,313$14,275$12,460$10,850$9,430$7,190
14 years$14,992$12,975$11,195$9,632$8,266$6,148
15 years$13,848$11,853$10,108$8,590$7,278$5,277
16 years$12,848$10,875$9,164$7,691$6,433$4,544
17 years$11,967$10,016$8,339$6,911$5,704$3,924
18 years$11,184$9,255$7,612$6,228$5,071$3,397
19 years$10,485$8,577$6,969$5,627$4,520$2,946
20 years$9,856$7,970$6,396$5,097$4,038$2,560
21 years$9,288$7,424$5,883$4,626$3,613$2,228
22 years$8,772$6,930$5,422$4,206$3,239$1,941
23 years$8,302$6,482$5,006$3,830$2,907$1,693
24 years$7,872$6,073$4,630$3,493$2,613$1,478
25 years$7,477$5,699$4,288$3,190$2,351$1,291
26 years$7,112$5,356$3,977$2,917$2,118$1,129
27 years$6,776$5,041$3,693$2,670$1,910$988
28 years$6,463$4,750$3,433$2,446$1,723$865
29 years$6,173$4,481$3,195$2,243$1,556$757
30 years$5,903$4,232$2,976$2,059$1,406$664
31 years$5,651$4,001$2,774$1,891$1,271$582
32 years$5,415$3,785$2,588$1,738$1,150$510
33 years$5,193$3,585$2,417$1,598$1,040$447
34 years$4,986$3,398$2,258$1,470$942$392
35 years$4,790$3,223$2,111$1,354$853$344
36 years$4,606$3,059$1,975$1,247$773$302
37 years$4,432$2,905$1,849$1,149$701$265
38 years$4,268$2,761$1,731$1,059$635$233
39 years$4,112$2,625$1,622$976$576$204
40 years$3,965$2,498$1,520$900$522$179
41 years$3,825$2,378$1,425$831$474$158
42 years$3,692$2,264$1,337$767$430$138
43 years$3,566$2,157$1,255$708$390$122
44 years$3,446$2,056$1,178$653$354$107
45 years$3,331$1,961$1,106$603$322$94
46 years$3,222$1,871$1,039$557$292$82
47 years$3,118$1,785$976$515$265$72
48 years$3,018$1,704$917$476$241$64
49 years$2,923$1,628$862$440$219$56
50 years$2,831$1,555$810$406$199$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,900,000, adding $6,448 every year, while hoping to spend $40,450 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: 42/34/24 Blend
57$2,900,000$2,900,000$2,900,000$2,900,000
58$3,202,451$3,048,751$3,003,801$3,314,204
59$3,486,063$3,155,101$3,061,390$3,501,042
60$3,797,247$3,265,307$3,119,552$3,698,894
61$4,138,773$3,379,515$3,178,265$3,912,357
62$4,513,693$3,497,876$3,237,501$4,142,890
63$4,925,367$3,620,549$3,297,235$4,392,099
64$5,377,497$3,747,698$3,357,434$4,661,747
65$5,874,160$3,879,494$3,418,068$4,953,776
66$6,419,851$4,016,115$3,479,099$5,270,319
67$7,019,517$4,157,747$3,540,490$5,613,724
68$7,678,612$4,304,581$3,602,201$5,986,573
69$8,403,143$4,456,817$3,664,187$6,391,708
70$9,199,727$4,614,664$3,726,400$6,832,253
71$10,075,655$4,778,339$3,788,791$7,311,648
72$11,038,961$4,948,068$3,851,305$7,833,679
73$12,098,496$5,124,083$3,913,885$8,402,511
74$13,264,010$5,306,631$3,976,467$9,022,729
75$14,546,248$5,495,965$4,038,988$9,699,381
76$15,957,048$5,692,349$4,101,376$10,438,023
77$17,509,452$5,896,060$4,163,557$11,244,772
78$19,217,832$6,107,383$4,225,453$12,126,362
79$21,098,023$6,326,616$4,286,977$13,090,207
80$23,167,472$6,554,072$4,348,042$14,144,472
81$25,445,405$6,790,072$4,408,553$15,298,147
82$27,953,005$7,034,954$4,468,408$16,561,132
83$30,713,614$7,289,069$4,527,501$17,944,329
84$33,752,951$7,552,782$4,585,721$19,459,745
85$37,099,356$7,826,472$4,642,947$21,120,603
86$40,784,058$8,110,538$4,699,054$22,941,467
87$44,841,468$8,405,390$4,753,908$24,938,378
88$49,309,503$8,711,459$4,807,369$27,129,005
89$54,229,945$9,029,193$4,859,288$29,532,808
90$59,648,834$9,359,059$4,909,509$32,171,226
91$65,616,905$9,701,542$4,957,867$35,067,872
92$72,190,061$10,057,149$5,004,188$38,248,758
93$79,429,906$10,426,408$5,048,287$41,742,542
94$87,404,324$10,809,870$5,089,972$45,580,789
95$96,188,119$11,208,107$5,129,040$49,798,277
96$105,863,719$11,621,717$5,165,275$54,433,318
97$116,521,961$12,051,323$5,198,454$59,528,120
98$128,262,937$12,497,574$5,228,338$65,129,183
99$141,196,949$12,961,147$5,254,680$71,287,740
100$155,445,542$13,442,748$5,277,216$78,060,233