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%17.3%
1 years$240,305$238,165$236,076$234,038$232,047$225,161
2 years$118,963$116,747$114,600$112,518$110,499$103,617
3 years$78,521$76,296$74,154$72,091$70,105$63,445
4 years$58,304$56,085$53,965$51,938$49,999$43,611
5 years$46,177$43,972$41,879$39,893$38,009$31,910
6 years$38,095$35,906$33,845$31,903$30,075$24,271
7 years$32,324$30,154$28,125$26,229$24,459$18,950
8 years$27,998$25,847$23,852$22,003$20,291$15,074
9 years$24,635$22,505$20,544$18,742$17,088$12,157
10 years$21,946$19,837$17,911$16,156$14,560$9,908
11 years$19,748$17,660$15,768$14,060$12,522$8,141
12 years$17,917$15,850$13,994$12,333$10,851$6,733
13 years$16,369$14,324$12,503$10,888$9,463$5,597
14 years$15,044$13,020$11,234$9,665$8,295$4,673
15 years$13,896$11,894$10,142$8,620$7,303$3,914
16 years$12,892$10,913$9,196$7,718$6,455$3,288
17 years$12,008$10,050$8,368$6,934$5,723$2,769
18 years$11,223$9,287$7,639$6,249$5,089$2,336
19 years$10,521$8,607$6,993$5,647$4,536$1,974
20 years$9,890$7,998$6,418$5,114$4,051$1,670
21 years$9,320$7,450$5,903$4,641$3,626$1,415
22 years$8,803$6,954$5,441$4,220$3,250$1,200
23 years$8,331$6,504$5,023$3,843$2,917$1,018
24 years$7,899$6,094$4,646$3,505$2,622$865
25 years$7,502$5,719$4,303$3,201$2,359$735
26 years$7,137$5,375$3,991$2,927$2,125$625
27 years$6,799$5,058$3,706$2,679$1,916$531
28 years$6,486$4,766$3,445$2,455$1,729$452
29 years$6,195$4,497$3,206$2,251$1,561$385
30 years$5,924$4,246$2,986$2,066$1,411$328
31 years$5,670$4,014$2,784$1,897$1,275$279
32 years$5,433$3,798$2,597$1,744$1,154$237
33 years$5,211$3,597$2,425$1,604$1,044$202
34 years$5,003$3,409$2,266$1,475$945$172
35 years$4,807$3,234$2,119$1,358$856$147
36 years$4,622$3,069$1,982$1,251$776$125
37 years$4,447$2,915$1,855$1,152$703$107
38 years$4,282$2,770$1,737$1,062$637$91
39 years$4,126$2,634$1,627$979$578$77
40 years$3,978$2,506$1,525$903$524$66
41 years$3,838$2,386$1,430$834$476$56
42 years$3,705$2,272$1,342$769$432$48
43 years$3,578$2,165$1,259$710$392$41
44 years$3,457$2,064$1,182$656$356$35
45 years$3,343$1,968$1,110$606$323$30
46 years$3,233$1,877$1,042$559$293$25
47 years$3,128$1,791$979$517$266$22
48 years$3,028$1,710$920$477$242$18
49 years$2,933$1,633$865$441$219$16
50 years$2,841$1,560$813$408$199$13

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 $5,944 every year, while hoping to spend $53,951 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: 75/17/8 Blend
57$2,910,000$2,910,000$2,910,000$2,910,000
58$3,212,951$3,058,721$3,013,616$3,449,595
59$3,483,269$3,151,195$3,057,169$3,698,664
60$3,779,351$3,246,392$3,100,372$3,964,083
61$4,103,768$3,344,388$3,143,158$4,253,390
62$4,459,351$3,445,263$3,185,453$4,568,934
63$4,849,220$3,549,095$3,227,181$4,913,300
64$5,276,808$3,655,969$3,268,259$5,289,336
65$5,745,898$3,765,967$3,308,602$5,700,176
66$6,260,658$3,879,178$3,348,118$6,149,271
67$6,825,677$3,995,689$3,386,711$6,640,424
68$7,446,010$4,115,592$3,424,280$7,177,821
69$8,127,227$4,238,980$3,460,717$7,766,072
70$8,875,462$4,365,948$3,495,910$8,410,256
71$9,697,473$4,496,594$3,529,737$9,115,966
72$10,600,707$4,631,018$3,562,074$9,889,364
73$11,593,364$4,769,323$3,592,789$10,737,235
74$12,684,481$4,911,613$3,621,741$11,667,056
75$13,884,012$5,057,997$3,648,784$12,687,061
76$15,202,925$5,208,583$3,673,762$13,806,322
77$16,653,305$5,363,484$3,696,514$15,034,833
78$18,248,462$5,522,816$3,716,868$16,383,604
79$20,003,067$5,686,695$3,734,644$17,864,764
80$21,933,278$5,855,242$3,749,654$19,491,676
81$24,056,903$6,028,579$3,761,698$21,279,063
82$26,393,561$6,206,833$3,770,568$23,243,145
83$28,964,867$6,390,131$3,776,045$25,401,793
84$31,794,640$6,578,604$3,777,899$27,774,697
85$34,909,124$6,772,386$3,775,889$30,383,552
86$38,337,235$6,971,613$3,769,762$33,252,262
87$42,110,836$7,176,426$3,759,252$36,407,164
88$46,265,036$7,386,964$3,744,081$39,877,278
89$50,838,518$7,603,375$3,723,957$43,694,579
90$55,873,912$7,825,804$3,698,574$47,894,300
91$61,418,185$8,054,404$3,667,611$52,515,262
92$67,523,097$8,289,326$3,630,732$57,600,243
93$74,245,678$8,530,728$3,587,587$63,196,379
94$81,648,771$8,778,768$3,537,805$69,355,607
95$89,801,626$9,033,608$3,481,002$76,135,159
96$98,780,550$9,295,413$3,416,774$83,598,100
97$108,669,628$9,564,349$3,344,697$91,813,921
98$119,561,515$9,840,588$3,264,330$100,859,197
99$131,558,314$10,124,301$3,175,209$110,818,308
100$144,772,534$10,415,664$3,076,851$121,784,235