Can I retire at age 58 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$247,737$245,530$243,378$241,276$239,224$237,717
2 years$122,642$120,358$118,144$115,998$113,916$112,396
3 years$80,949$78,655$76,447$74,321$72,273$70,786
4 years$60,107$57,820$55,634$53,544$51,546$50,104
5 years$47,605$45,332$43,174$41,127$39,184$37,793
6 years$39,273$37,017$34,891$32,890$31,005$29,665
7 years$33,324$31,087$28,995$27,040$25,216$23,927
8 years$28,864$26,647$24,590$22,684$20,919$19,683
9 years$25,397$23,201$21,179$19,321$17,617$16,432
10 years$22,625$20,450$18,465$16,655$15,010$13,877
11 years$20,359$18,206$16,256$14,495$12,909$11,827
12 years$18,471$16,341$14,427$12,714$11,187$10,154
13 years$16,875$14,767$12,889$11,225$9,755$8,771
14 years$15,509$13,423$11,581$9,964$8,551$7,614
15 years$14,326$12,262$10,456$8,886$7,529$6,638
16 years$13,291$11,250$9,480$7,957$6,654$5,808
17 years$12,379$10,361$8,626$7,149$5,900$5,097
18 years$11,570$9,574$7,875$6,443$5,246$4,485
19 years$10,846$8,873$7,209$5,821$4,676$3,956
20 years$10,196$8,245$6,616$5,272$4,177$3,496
21 years$9,608$7,680$6,086$4,785$3,738$3,094
22 years$9,075$7,169$5,609$4,351$3,350$2,743
23 years$8,589$6,705$5,179$3,962$3,007$2,435
24 years$8,143$6,282$4,789$3,614$2,703$2,164
25 years$7,734$5,896$4,436$3,300$2,432$1,925
26 years$7,358$5,541$4,114$3,018$2,191$1,714
27 years$7,009$5,215$3,820$2,762$1,975$1,527
28 years$6,686$4,914$3,551$2,531$1,782$1,362
29 years$6,386$4,636$3,305$2,321$1,610$1,215
30 years$6,107$4,378$3,078$2,130$1,454$1,085
31 years$5,846$4,139$2,870$1,956$1,315$969
32 years$5,601$3,916$2,678$1,798$1,189$866
33 years$5,373$3,708$2,500$1,653$1,076$774
34 years$5,158$3,515$2,336$1,521$975$692
35 years$4,955$3,334$2,184$1,400$883$619
36 years$4,765$3,164$2,043$1,290$800$554
37 years$4,585$3,005$1,912$1,188$725$496
38 years$4,415$2,856$1,791$1,095$657$444
39 years$4,254$2,716$1,678$1,010$596$397
40 years$4,101$2,584$1,573$931$541$356
41 years$3,957$2,460$1,475$859$490$319
42 years$3,819$2,342$1,383$793$445$286
43 years$3,689$2,232$1,298$732$404$256
44 years$3,564$2,127$1,218$676$367$229
45 years$3,446$2,029$1,144$624$333$205
46 years$3,333$1,935$1,074$577$302$184
47 years$3,225$1,847$1,009$533$274$165
48 years$3,122$1,763$949$492$249$148
49 years$3,023$1,684$892$455$226$133
50 years$2,929$1,608$838$421$206$119

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $3,000,000, adding $6,348 every year, while hoping to spend $22,749 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: 63/32/5 Blend
57$3,000,000$3,000,000$3,000,000$3,000,000
58$3,312,548$3,153,548$3,107,048$3,518,375
59$3,626,223$3,283,867$3,186,929$3,786,530
60$3,971,131$3,419,809$3,268,724$4,075,908
61$4,350,432$3,561,626$3,352,473$4,391,239
62$4,767,611$3,709,581$3,438,216$4,735,032
63$5,226,506$3,863,949$3,525,994$5,110,047
64$5,731,345$4,025,017$3,615,850$5,519,317
65$6,286,787$4,193,088$3,707,826$5,966,182
66$6,897,966$4,368,476$3,801,965$6,454,312
67$7,570,537$4,551,510$3,898,309$6,987,749
68$8,310,734$4,742,536$3,996,905$7,570,936
69$9,125,423$4,941,914$4,097,795$8,208,765
70$10,022,170$5,150,023$4,201,025$8,906,618
71$11,009,313$5,367,255$4,306,642$9,670,418
72$12,096,039$5,594,027$4,414,690$10,506,684
73$13,292,469$5,830,768$4,525,216$11,422,592
74$14,609,759$6,077,934$4,638,269$12,426,040
75$16,060,198$6,335,996$4,753,894$13,525,722
76$17,657,329$6,605,451$4,872,141$14,731,210
77$19,416,076$6,886,817$4,993,057$16,053,040
78$21,352,882$7,180,638$5,116,691$17,502,815
79$23,485,869$7,487,482$5,243,093$19,093,307
80$25,835,002$7,807,943$5,372,311$20,838,582
81$28,422,285$8,142,645$5,504,396$22,754,126
82$31,271,962$8,492,238$5,639,397$24,856,994
83$34,410,750$8,857,406$5,777,365$27,165,965
84$37,868,089$9,238,862$5,918,349$29,701,721
85$41,676,421$9,637,353$6,062,401$32,487,038
86$45,871,496$10,053,663$6,209,571$35,547,002
87$50,492,707$10,488,611$6,359,910$38,909,239
88$55,583,464$10,943,054$6,513,468$42,604,179
89$61,191,604$11,417,890$6,670,296$46,665,337
90$67,369,841$11,914,061$6,830,445$51,129,628
91$74,176,265$12,432,549$6,993,964$56,037,714
92$81,674,886$12,974,387$7,160,905$61,434,386
93$89,936,246$13,540,652$7,331,316$67,368,980
94$99,038,075$14,132,477$7,505,247$73,895,846
95$109,066,033$14,751,043$7,682,748$81,074,854
96$120,114,515$15,397,590$7,863,866$88,971,955
97$132,287,539$16,073,416$8,048,649$97,659,805
98$145,699,735$16,779,880$8,237,146$107,218,444
99$160,477,418$17,518,404$8,429,401$117,736,050
100$176,759,789$18,290,481$8,625,460$129,309,766