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%12.7%
1 years$239,479$237,346$235,265$233,234$231,250$228,645
2 years$118,554$116,346$114,206$112,132$110,119$107,496
3 years$78,251$76,033$73,899$71,844$69,864$67,305
4 years$58,103$55,893$53,780$51,759$49,828$47,353
5 years$46,018$43,821$41,735$39,756$37,878$35,494
6 years$37,964$35,783$33,728$31,793$29,972$27,681
7 years$32,213$30,050$28,028$26,139$24,375$22,179
8 years$27,902$25,759$23,770$21,927$20,221$18,120
9 years$24,550$22,428$20,473$18,677$17,029$15,022
10 years$21,871$19,769$17,849$16,100$14,510$12,595
11 years$19,680$17,599$15,714$14,012$12,479$10,655
12 years$17,855$15,796$13,946$12,290$10,814$9,079
13 years$16,313$14,275$12,460$10,850$9,430$7,782
14 years$14,992$12,975$11,195$9,632$8,266$6,702
15 years$13,848$11,853$10,108$8,590$7,278$5,796
16 years$12,848$10,875$9,164$7,691$6,433$5,030
17 years$11,967$10,016$8,339$6,911$5,704$4,378
18 years$11,184$9,255$7,612$6,228$5,071$3,819
19 years$10,485$8,577$6,969$5,627$4,520$3,340
20 years$9,856$7,970$6,396$5,097$4,038$2,925
21 years$9,288$7,424$5,883$4,626$3,613$2,567
22 years$8,772$6,930$5,422$4,206$3,239$2,255
23 years$8,302$6,482$5,006$3,830$2,907$1,983
24 years$7,872$6,073$4,630$3,493$2,613$1,746
25 years$7,477$5,699$4,288$3,190$2,351$1,539
26 years$7,112$5,356$3,977$2,917$2,118$1,358
27 years$6,776$5,041$3,693$2,670$1,910$1,198
28 years$6,463$4,750$3,433$2,446$1,723$1,058
29 years$6,173$4,481$3,195$2,243$1,556$935
30 years$5,903$4,232$2,976$2,059$1,406$827
31 years$5,651$4,001$2,774$1,891$1,271$731
32 years$5,415$3,785$2,588$1,738$1,150$647
33 years$5,193$3,585$2,417$1,598$1,040$573
34 years$4,986$3,398$2,258$1,470$942$507
35 years$4,790$3,223$2,111$1,354$853$449
36 years$4,606$3,059$1,975$1,247$773$398
37 years$4,432$2,905$1,849$1,149$701$352
38 years$4,268$2,761$1,731$1,059$635$312
39 years$4,112$2,625$1,622$976$576$277
40 years$3,965$2,498$1,520$900$522$245
41 years$3,825$2,378$1,425$831$474$217
42 years$3,692$2,264$1,337$767$430$193
43 years$3,566$2,157$1,255$708$390$171
44 years$3,446$2,056$1,178$653$354$152
45 years$3,331$1,961$1,106$603$322$134
46 years$3,222$1,871$1,039$557$292$119
47 years$3,118$1,785$976$515$265$106
48 years$3,018$1,704$917$476$241$94
49 years$2,923$1,628$862$440$219$83
50 years$2,831$1,555$810$406$199$74

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 $4,757 every year, while hoping to spend $55,730 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: 25/46/29 Blend
57$2,900,000$2,900,000$2,900,000$2,900,000
58$3,200,707$3,047,007$3,002,057$3,251,575
59$3,467,883$3,137,014$3,043,329$3,384,693
60$3,760,443$3,229,563$3,084,117$3,522,284
61$4,080,917$3,324,721$3,124,344$3,668,660
62$4,432,092$3,422,554$3,163,931$3,824,597
63$4,817,038$3,523,132$3,202,795$3,990,948
64$5,239,133$3,626,522$3,240,846$4,168,652
65$5,702,101$3,732,798$3,277,990$4,358,741
66$6,210,041$3,842,032$3,314,130$4,562,350
67$6,767,471$3,954,297$3,349,159$4,780,727
68$7,379,365$4,069,669$3,382,967$5,015,246
69$8,051,203$4,188,226$3,415,439$5,267,421
70$8,789,021$4,310,044$3,446,452$5,538,914
71$9,599,469$4,435,205$3,475,876$5,831,559
72$10,489,874$4,563,788$3,503,577$6,147,370
73$11,468,304$4,695,877$3,529,409$6,488,570
74$12,543,650$4,831,554$3,553,224$6,857,602
75$13,725,708$4,970,906$3,574,863$7,257,158
76$15,025,267$5,114,017$3,594,158$7,690,204
77$16,454,218$5,260,977$3,610,935$8,160,005
78$18,025,656$5,411,873$3,625,010$8,670,157
79$19,754,015$5,566,797$3,636,189$9,224,622
80$21,655,193$5,725,838$3,644,270$9,827,762
81$23,746,708$5,889,090$3,649,039$10,484,387
82$26,047,863$6,056,646$3,650,272$11,199,790
83$28,579,923$6,228,600$3,647,734$11,979,807
84$31,366,322$6,405,048$3,641,180$12,830,866
85$34,432,878$6,586,086$3,630,351$13,760,049
86$37,808,039$6,771,812$3,614,975$14,775,159
87$41,523,151$6,962,323$3,594,769$15,884,795
88$45,612,754$7,157,718$3,569,435$17,098,430
89$50,114,904$7,358,096$3,538,660$18,426,505
90$55,071,538$7,563,556$3,502,119$19,880,522
91$60,528,863$7,774,199$3,459,469$21,473,158
92$66,537,796$7,990,124$3,410,350$23,218,381
93$73,154,443$8,211,431$3,354,388$25,131,584
94$80,440,626$8,438,221$3,291,190$27,229,731
95$88,464,469$8,670,594$3,220,344$29,531,515
96$97,301,040$8,908,648$3,141,421$32,057,535
97$107,033,057$9,152,482$3,053,969$34,830,495
98$117,751,669$9,402,194$2,957,517$37,875,411
99$129,557,319$9,657,881$2,851,574$41,219,856
100$142,560,687$9,919,639$2,735,623$44,894,213