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

Use the below retirement simulation to view the chances of a successful retirement.
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%11.1%
1 years$239,479$237,346$235,265$233,234$231,250$230,179
2 years$118,554$116,346$114,206$112,132$110,119$109,038
3 years$78,251$76,033$73,899$71,844$69,864$68,806
4 years$58,103$55,893$53,780$51,759$49,828$48,801
5 years$46,018$43,821$41,735$39,756$37,878$36,886
6 years$37,964$35,783$33,728$31,793$29,972$29,016
7 years$32,213$30,050$28,028$26,139$24,375$23,456
8 years$27,902$25,759$23,770$21,927$20,221$19,338
9 years$24,550$22,428$20,473$18,677$17,029$16,183
10 years$21,871$19,769$17,849$16,100$14,510$13,699
11 years$19,680$17,599$15,714$14,012$12,479$11,703
12 years$17,855$15,796$13,946$12,290$10,814$10,073
13 years$16,313$14,275$12,460$10,850$9,430$8,723
14 years$14,992$12,975$11,195$9,632$8,266$7,593
15 years$13,848$11,853$10,108$8,590$7,278$6,637
16 years$12,848$10,875$9,164$7,691$6,433$5,823
17 years$11,967$10,016$8,339$6,911$5,704$5,124
18 years$11,184$9,255$7,612$6,228$5,071$4,522
19 years$10,485$8,577$6,969$5,627$4,520$3,999
20 years$9,856$7,970$6,396$5,097$4,038$3,544
21 years$9,288$7,424$5,883$4,626$3,613$3,147
22 years$8,772$6,930$5,422$4,206$3,239$2,798
23 years$8,302$6,482$5,006$3,830$2,907$2,491
24 years$7,872$6,073$4,630$3,493$2,613$2,220
25 years$7,477$5,699$4,288$3,190$2,351$1,981
26 years$7,112$5,356$3,977$2,917$2,118$1,770
27 years$6,776$5,041$3,693$2,670$1,910$1,582
28 years$6,463$4,750$3,433$2,446$1,723$1,415
29 years$6,173$4,481$3,195$2,243$1,556$1,267
30 years$5,903$4,232$2,976$2,059$1,406$1,135
31 years$5,651$4,001$2,774$1,891$1,271$1,017
32 years$5,415$3,785$2,588$1,738$1,150$912
33 years$5,193$3,585$2,417$1,598$1,040$818
34 years$4,986$3,398$2,258$1,470$942$734
35 years$4,790$3,223$2,111$1,354$853$658
36 years$4,606$3,059$1,975$1,247$773$591
37 years$4,432$2,905$1,849$1,149$701$531
38 years$4,268$2,761$1,731$1,059$635$477
39 years$4,112$2,625$1,622$976$576$428
40 years$3,965$2,498$1,520$900$522$385
41 years$3,825$2,378$1,425$831$474$346
42 years$3,692$2,264$1,337$767$430$311
43 years$3,566$2,157$1,255$708$390$280
44 years$3,446$2,056$1,178$653$354$251
45 years$3,331$1,961$1,106$603$322$226
46 years$3,222$1,871$1,039$557$292$203
47 years$3,118$1,785$976$515$265$183
48 years$3,018$1,704$917$476$241$164
49 years$2,923$1,628$862$440$219$148
50 years$2,831$1,555$810$406$199$133

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 $3,833 every year, while hoping to spend $42,205 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: 37/46/17 Blend
57$2,900,000$2,900,000$2,900,000$2,900,000
58$3,199,754$3,046,054$3,001,104$3,301,528
59$3,481,223$3,150,405$3,056,735$3,479,646
60$3,789,987$3,258,454$3,112,815$3,667,626
61$4,128,787$3,370,339$3,169,315$3,869,780
62$4,500,638$3,486,201$3,226,203$4,087,401
63$4,908,866$3,606,188$3,283,444$4,321,910
64$5,357,133$3,730,453$3,341,001$4,574,867
65$5,849,470$3,859,155$3,398,834$4,847,986
66$6,390,322$3,992,460$3,456,901$5,143,153
67$6,984,583$4,130,539$3,515,156$5,462,436
68$7,637,647$4,273,571$3,573,549$5,808,114
69$8,355,452$4,421,741$3,632,029$6,182,688
70$9,144,545$4,575,244$3,690,539$6,588,911
71$10,012,136$4,734,278$3,749,019$7,029,809
72$10,966,169$4,899,052$3,807,406$7,508,710
73$12,015,396$5,069,784$3,865,632$8,029,277
74$13,169,460$5,246,697$3,923,625$8,595,536
75$14,438,987$5,430,027$3,981,308$9,211,920
76$15,835,682$5,620,017$4,038,600$9,883,306
77$17,372,444$5,816,920$4,095,415$10,615,058
78$19,063,483$6,020,999$4,151,662$11,413,084
79$20,924,458$6,232,528$4,207,242$12,283,883
80$22,972,623$6,451,791$4,262,054$13,234,609
81$25,226,987$6,679,086$4,315,990$14,273,137
82$27,708,497$6,914,719$4,368,933$15,408,137
83$30,440,235$7,159,011$4,420,764$16,649,153
84$33,447,633$7,412,296$4,471,353$18,006,695
85$36,758,713$7,674,921$4,520,566$19,492,330
86$40,404,356$7,947,246$4,568,258$21,118,801
87$44,418,586$8,229,647$4,614,281$22,900,135
88$48,838,897$8,522,515$4,658,474$24,851,779
89$53,706,602$8,826,256$4,700,671$26,990,748
90$59,067,227$9,141,293$4,740,695$29,335,776
91$64,970,936$9,468,068$4,778,360$31,907,498
92$71,473,007$9,807,039$4,813,470$34,728,640
93$78,634,352$10,158,683$4,845,820$37,824,232
94$86,522,095$10,523,497$4,875,194$41,221,847
95$95,210,199$10,901,999$4,901,363$44,951,851
96$104,780,169$11,294,727$4,924,089$49,047,695
97$115,321,820$11,702,242$4,943,120$53,546,228
98$126,934,123$12,125,129$4,958,192$58,488,040
99$139,726,140$12,563,996$4,969,027$63,917,844
100$153,818,051$13,019,477$4,975,334$69,884,898