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

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$240,305$238,165$236,076$234,038$232,047$222,753
2 years$118,963$116,747$114,600$112,518$110,499$101,251
3 years$78,521$76,296$74,154$72,091$70,105$61,196
4 years$58,304$56,085$53,965$51,938$49,999$41,496
5 years$46,177$43,972$41,879$39,893$38,009$29,933
6 years$38,095$35,906$33,845$31,903$30,075$22,432
7 years$32,324$30,154$28,125$26,229$24,459$17,246
8 years$27,998$25,847$23,852$22,003$20,291$13,501
9 years$24,635$22,505$20,544$18,742$17,088$10,710
10 years$21,946$19,837$17,911$16,156$14,560$8,581
11 years$19,748$17,660$15,768$14,060$12,522$6,928
12 years$17,917$15,850$13,994$12,333$10,851$5,628
13 years$16,369$14,324$12,503$10,888$9,463$4,593
14 years$15,044$13,020$11,234$9,665$8,295$3,763
15 years$13,896$11,894$10,142$8,620$7,303$3,092
16 years$12,892$10,913$9,196$7,718$6,455$2,547
17 years$12,008$10,050$8,368$6,934$5,723$2,103
18 years$11,223$9,287$7,639$6,249$5,089$1,739
19 years$10,521$8,607$6,993$5,647$4,536$1,440
20 years$9,890$7,998$6,418$5,114$4,051$1,193
21 years$9,320$7,450$5,903$4,641$3,626$990
22 years$8,803$6,954$5,441$4,220$3,250$822
23 years$8,331$6,504$5,023$3,843$2,917$683
24 years$7,899$6,094$4,646$3,505$2,622$568
25 years$7,502$5,719$4,303$3,201$2,359$472
26 years$7,137$5,375$3,991$2,927$2,125$393
27 years$6,799$5,058$3,706$2,679$1,916$327
28 years$6,486$4,766$3,445$2,455$1,729$272
29 years$6,195$4,497$3,206$2,251$1,561$226
30 years$5,924$4,246$2,986$2,066$1,411$188
31 years$5,670$4,014$2,784$1,897$1,275$157
32 years$5,433$3,798$2,597$1,744$1,154$131
33 years$5,211$3,597$2,425$1,604$1,044$109
34 years$5,003$3,409$2,266$1,475$945$91
35 years$4,807$3,234$2,119$1,358$856$76
36 years$4,622$3,069$1,982$1,251$776$63
37 years$4,447$2,915$1,855$1,152$703$52
38 years$4,282$2,770$1,737$1,062$637$44
39 years$4,126$2,634$1,627$979$578$36
40 years$3,978$2,506$1,525$903$524$30
41 years$3,838$2,386$1,430$834$476$25
42 years$3,705$2,272$1,342$769$432$21
43 years$3,578$2,165$1,259$710$392$18
44 years$3,457$2,064$1,182$656$356$15
45 years$3,343$1,968$1,110$606$323$12
46 years$3,233$1,877$1,042$559$293$10
47 years$3,128$1,791$979$517$266$8
48 years$3,028$1,710$920$477$242$7
49 years$2,933$1,633$865$441$219$6
50 years$2,841$1,560$813$408$199$5

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 $5,306 every year, while hoping to spend $21,389 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: 65/13/22 Blend
57$2,910,000$2,910,000$2,910,000$2,910,000
58$3,212,293$3,058,063$3,012,958$3,402,612
59$3,517,189$3,185,151$3,091,135$3,658,374
60$3,852,468$3,317,748$3,171,213$3,934,882
61$4,221,206$3,456,104$3,253,234$4,236,585
62$4,626,792$3,600,476$3,337,241$4,565,956
63$5,072,961$3,751,136$3,423,275$4,925,717
64$5,563,828$3,908,367$3,511,380$5,318,863
65$6,103,926$4,072,464$3,601,599$5,748,694
66$6,698,251$4,243,739$3,693,977$6,218,839
67$7,352,306$4,422,516$3,788,558$6,733,294
68$8,072,156$4,609,134$3,885,390$7,296,462
69$8,864,483$4,803,949$3,984,518$7,913,188
70$9,736,650$5,007,332$4,085,989$8,588,806
71$10,696,770$5,219,673$4,189,851$9,329,192
72$11,753,782$5,441,378$4,296,152$10,140,817
73$12,917,536$5,672,874$4,404,941$11,030,804
74$14,198,886$5,914,606$4,516,269$12,007,002
75$15,609,793$6,167,042$4,630,184$13,078,051
76$17,163,435$6,430,670$4,746,738$14,253,471
77$18,874,333$6,706,001$4,865,982$15,543,744
78$20,758,491$6,993,571$4,987,967$16,960,418
79$22,833,540$7,293,939$5,112,747$18,516,211
80$25,118,911$7,607,692$5,240,375$20,225,135
81$27,636,015$7,935,444$5,370,902$22,102,620
82$30,408,446$8,277,838$5,504,384$24,165,667
83$33,462,201$8,635,546$5,640,875$26,433,004
84$36,825,930$9,009,272$5,780,429$28,925,260
85$40,531,203$9,399,755$5,923,102$31,665,161
86$44,612,809$9,807,766$6,068,949$34,677,745
87$49,109,082$10,234,113$6,218,025$37,990,595
88$54,062,266$10,679,642$6,370,387$41,634,097
89$59,518,914$11,145,241$6,526,091$45,641,730
90$65,530,321$11,631,836$6,685,193$50,050,379
91$72,153,017$12,140,399$6,847,751$54,900,680
92$79,449,295$12,671,948$7,013,820$60,237,404
93$87,487,797$13,227,548$7,183,457$66,109,881
94$96,344,169$13,808,315$7,356,720$72,572,459
95$106,101,768$14,415,416$7,533,664$79,685,020
96$116,852,454$15,050,076$7,714,347$87,513,541
97$128,697,450$15,713,577$7,898,823$96,130,719
98$141,748,307$16,407,259$8,087,151$105,616,651
99$156,127,948$17,132,528$8,279,384$116,059,594
100$171,971,834$17,890,857$8,475,579$127,556,790