Can I retire at age 58 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$241,957$239,801$237,699$235,646$233,642$225,802
2 years$119,781$117,550$115,388$113,292$111,258$103,437
3 years$79,060$76,820$74,664$72,587$70,587$63,029
4 years$58,704$56,471$54,336$52,295$50,343$43,108
5 years$46,494$44,274$42,167$40,167$38,270$31,376
6 years$38,356$36,153$34,077$32,122$30,282$23,735
7 years$32,546$30,361$28,318$26,409$24,627$18,426
8 years$28,190$26,025$24,016$22,154$20,431$14,570
9 years$24,804$22,660$20,685$18,870$17,206$11,679
10 years$22,097$19,973$18,034$16,267$14,660$9,459
11 years$19,884$17,781$15,877$14,157$12,608$7,722
12 years$18,040$15,959$14,090$12,417$10,926$6,344
13 years$16,482$14,423$12,589$10,963$9,528$5,239
14 years$15,147$13,110$11,311$9,731$8,352$4,343
15 years$13,991$11,976$10,212$8,679$7,354$3,612
16 years$12,981$10,988$9,259$7,771$6,499$3,013
17 years$12,091$10,119$8,425$6,982$5,763$2,518
18 years$11,300$9,351$7,691$6,292$5,124$2,109
19 years$10,593$8,666$7,041$5,686$4,567$1,769
20 years$9,958$8,053$6,462$5,149$4,079$1,485
21 years$9,384$7,501$5,944$4,673$3,651$1,249
22 years$8,863$7,002$5,478$4,249$3,272$1,051
23 years$8,388$6,549$5,058$3,870$2,937$885
24 years$7,953$6,136$4,678$3,530$2,640$745
25 years$7,554$5,758$4,332$3,223$2,376$628
26 years$7,186$5,412$4,018$2,947$2,140$530
27 years$6,846$5,093$3,731$2,698$1,929$447
28 years$6,530$4,799$3,469$2,472$1,741$377
29 years$6,237$4,527$3,228$2,267$1,572$318
30 years$5,964$4,276$3,007$2,080$1,420$269
31 years$5,709$4,042$2,803$1,910$1,284$227
32 years$5,471$3,824$2,615$1,756$1,162$192
33 years$5,247$3,622$2,442$1,615$1,051$162
34 years$5,037$3,433$2,282$1,486$952$137
35 years$4,840$3,256$2,133$1,368$862$116
36 years$4,654$3,090$1,995$1,259$781$98
37 years$4,478$2,935$1,868$1,160$708$83
38 years$4,312$2,789$1,749$1,070$642$70
39 years$4,155$2,652$1,639$986$582$59
40 years$4,006$2,524$1,536$910$528$50
41 years$3,865$2,402$1,440$839$479$42
42 years$3,730$2,288$1,351$775$435$36
43 years$3,603$2,180$1,268$715$394$30
44 years$3,481$2,078$1,190$660$358$25
45 years$3,366$1,981$1,117$610$325$21
46 years$3,255$1,890$1,049$563$295$18
47 years$3,150$1,804$986$520$268$15
48 years$3,049$1,722$926$481$243$13
49 years$2,953$1,644$871$444$221$11
50 years$2,861$1,571$819$411$201$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,930,000, adding $4,615 every year, while hoping to spend $20,162 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: 65/17/18 Blend
57$2,930,000$2,930,000$2,930,000$2,930,000
58$3,233,620$3,078,330$3,032,915$3,429,030
59$3,541,997$3,207,716$3,113,066$3,690,019
60$3,881,153$3,342,766$3,195,226$3,972,378
61$4,254,206$3,483,737$3,279,441$4,280,458
62$4,664,591$3,630,896$3,365,758$4,616,775
63$5,116,094$3,784,525$3,454,225$4,984,100
64$5,612,884$3,944,916$3,544,891$5,385,483
65$6,159,559$4,112,377$3,637,805$5,824,277
66$6,761,180$4,287,230$3,733,018$6,304,178
67$7,423,328$4,469,811$3,830,581$6,829,251
68$8,152,148$4,660,472$3,930,546$7,403,972
69$8,954,414$4,859,583$4,032,967$8,033,269
70$9,837,590$5,067,528$4,137,897$8,722,565
71$10,809,900$5,284,712$4,245,392$9,477,835
72$11,880,405$5,511,558$4,355,508$10,305,655
73$13,059,090$5,748,508$4,468,301$11,213,267
74$14,356,958$5,996,026$4,583,830$12,208,645
75$15,786,132$6,254,596$4,702,153$13,300,572
76$17,359,972$6,524,726$4,823,329$14,498,718
77$19,093,199$6,806,947$4,947,421$15,813,734
78$21,002,034$7,101,816$5,074,488$17,257,350
79$23,104,352$7,409,916$5,204,594$18,842,486
80$25,419,850$7,731,856$5,337,802$20,583,371
81$27,970,233$8,068,275$5,474,177$22,495,678
82$30,779,418$8,419,841$5,613,783$24,596,670
83$33,873,760$8,787,256$5,756,687$26,905,365
84$37,282,304$9,171,251$5,902,955$29,442,707
85$41,037,051$9,572,595$6,052,657$32,231,772
86$45,173,269$9,992,091$6,205,859$35,297,976
87$49,729,820$10,430,581$6,362,633$38,669,320
88$54,749,529$10,888,946$6,523,049$42,376,650
89$60,279,587$11,368,111$6,687,177$46,453,947
90$66,371,998$11,869,041$6,855,091$50,938,647
91$73,084,067$12,392,750$7,026,862$55,871,992
92$80,478,945$12,940,297$7,202,564$61,299,419
93$88,626,219$13,512,793$7,382,272$67,270,988
94$97,602,576$14,111,403$7,566,060$73,841,849
95$107,492,520$14,737,343$7,754,004$81,072,764
96$118,389,174$15,391,890$7,946,181$89,030,681
97$130,395,159$16,076,382$8,142,667$97,789,357
98$143,623,558$16,792,217$8,343,539$107,430,059
99$158,198,989$17,540,863$8,548,876$118,042,328
100$174,258,777$18,323,857$8,758,754$129,724,817