Can I retire at age 58 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$240,305$238,165$236,076$234,038$232,047$223,992
2 years$118,963$116,747$114,600$112,518$110,499$102,467
3 years$78,521$76,296$74,154$72,091$70,105$62,348
4 years$58,304$56,085$53,965$51,938$49,999$42,577
5 years$46,177$43,972$41,879$39,893$38,009$30,941
6 years$38,095$35,906$33,845$31,903$30,075$23,367
7 years$32,324$30,154$28,125$26,229$24,459$18,109
8 years$27,998$25,847$23,852$22,003$20,291$14,295
9 years$24,635$22,505$20,544$18,742$17,088$11,438
10 years$21,946$19,837$17,911$16,156$14,560$9,246
11 years$19,748$17,660$15,768$14,060$12,522$7,534
12 years$17,917$15,850$13,994$12,333$10,851$6,177
13 years$16,369$14,324$12,503$10,888$9,463$5,090
14 years$15,044$13,020$11,234$9,665$8,295$4,211
15 years$13,896$11,894$10,142$8,620$7,303$3,495
16 years$12,892$10,913$9,196$7,718$6,455$2,909
17 years$12,008$10,050$8,368$6,934$5,723$2,426
18 years$11,223$9,287$7,639$6,249$5,089$2,027
19 years$10,521$8,607$6,993$5,647$4,536$1,696
20 years$9,890$7,998$6,418$5,114$4,051$1,421
21 years$9,320$7,450$5,903$4,641$3,626$1,192
22 years$8,803$6,954$5,441$4,220$3,250$1,000
23 years$8,331$6,504$5,023$3,843$2,917$840
24 years$7,899$6,094$4,646$3,505$2,622$706
25 years$7,502$5,719$4,303$3,201$2,359$594
26 years$7,137$5,375$3,991$2,927$2,125$500
27 years$6,799$5,058$3,706$2,679$1,916$421
28 years$6,486$4,766$3,445$2,455$1,729$354
29 years$6,195$4,497$3,206$2,251$1,561$298
30 years$5,924$4,246$2,986$2,066$1,411$251
31 years$5,670$4,014$2,784$1,897$1,275$212
32 years$5,433$3,798$2,597$1,744$1,154$178
33 years$5,211$3,597$2,425$1,604$1,044$150
34 years$5,003$3,409$2,266$1,475$945$127
35 years$4,807$3,234$2,119$1,358$856$107
36 years$4,622$3,069$1,982$1,251$776$90
37 years$4,447$2,915$1,855$1,152$703$76
38 years$4,282$2,770$1,737$1,062$637$64
39 years$4,126$2,634$1,627$979$578$54
40 years$3,978$2,506$1,525$903$524$45
41 years$3,838$2,386$1,430$834$476$38
42 years$3,705$2,272$1,342$769$432$32
43 years$3,578$2,165$1,259$710$392$27
44 years$3,457$2,064$1,182$656$356$23
45 years$3,343$1,968$1,110$606$323$19
46 years$3,233$1,877$1,042$559$293$16
47 years$3,128$1,791$979$517$266$14
48 years$3,028$1,710$920$477$242$12
49 years$2,933$1,633$865$441$219$10
50 years$2,841$1,560$813$408$199$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,910,000, adding $5,580 every year, while hoping to spend $33,908 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: 72/15/13 Blend
57$2,910,000$2,910,000$2,910,000$2,910,000
58$3,212,576$3,058,346$3,013,241$3,434,571
59$3,504,181$3,172,127$3,078,106$3,696,122
60$3,824,393$3,290,347$3,144,009$3,977,744
61$4,176,094$3,413,187$3,210,946$4,285,220
62$4,562,460$3,540,838$3,278,917$4,621,100
63$4,986,988$3,673,496$3,347,918$4,988,188
64$5,453,531$3,811,367$3,417,944$5,389,574
65$5,966,335$3,954,668$3,488,988$5,828,659
66$6,530,076$4,103,621$3,561,044$6,309,189
67$7,149,906$4,258,461$3,634,101$6,835,287
68$7,831,502$4,419,432$3,708,150$7,411,494
69$8,581,119$4,586,787$3,783,177$8,042,812
70$9,405,647$4,760,794$3,859,167$8,734,747
71$10,312,679$4,941,728$3,936,104$9,493,365
72$11,310,578$5,129,880$4,013,971$10,325,346
73$12,408,563$5,325,549$4,092,744$11,238,048
74$13,616,788$5,529,053$4,172,403$12,239,575
75$14,946,442$5,740,718$4,252,920$13,338,854
76$16,409,855$5,960,889$4,334,268$14,545,716
77$18,020,610$6,189,922$4,416,416$15,870,993
78$19,793,675$6,428,192$4,499,329$17,326,615
79$21,745,545$6,676,088$4,582,972$18,925,725
80$23,894,393$6,934,018$4,667,303$20,682,802
81$26,260,243$7,202,407$4,752,280$22,613,796
82$28,865,161$7,481,699$4,837,855$24,736,278
83$31,733,462$7,772,357$4,923,978$27,069,606
84$34,891,938$8,074,864$5,010,593$29,635,107
85$38,370,110$8,389,727$5,097,643$32,456,277
86$42,200,510$8,717,473$5,185,063$35,559,003
87$46,418,986$9,058,653$5,272,786$38,971,805
88$51,065,038$9,413,842$5,360,740$42,726,105
89$56,182,193$9,783,642$5,448,846$46,856,524
90$61,818,417$10,168,681$5,537,023$51,401,208
91$68,026,564$10,569,614$5,625,181$56,402,184
92$74,864,875$10,987,127$5,713,227$61,905,760
93$82,397,532$11,421,936$5,801,059$67,962,958
94$90,695,257$11,874,788$5,888,572$74,629,997
95$99,835,986$12,346,465$5,975,651$81,968,822
96$109,905,598$12,837,783$6,062,177$90,047,684
97$120,998,730$13,349,596$6,148,021$98,941,791
98$133,219,669$13,882,794$6,233,048$108,734,010
99$146,683,334$14,438,310$6,317,114$119,515,649
100$161,516,363$15,017,116$6,400,067$131,387,323