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%17.9%
1 years$247,737$245,530$243,378$241,276$239,224$231,566
2 years$122,642$120,358$118,144$115,998$113,916$106,272
3 years$80,949$78,655$76,447$74,321$72,273$64,882
4 years$60,107$57,820$55,634$53,544$51,546$44,464
5 years$47,605$45,332$43,174$41,127$39,184$32,432
6 years$39,273$37,017$34,891$32,890$31,005$24,587
7 years$33,324$31,087$28,995$27,040$25,216$19,131
8 years$28,864$26,647$24,590$22,684$20,919$15,164
9 years$25,397$23,201$21,179$19,321$17,617$12,185
10 years$22,625$20,450$18,465$16,655$15,010$9,894
11 years$20,359$18,206$16,256$14,495$12,909$8,098
12 years$18,471$16,341$14,427$12,714$11,187$6,671
13 years$16,875$14,767$12,889$11,225$9,755$5,523
14 years$15,509$13,423$11,581$9,964$8,551$4,592
15 years$14,326$12,262$10,456$8,886$7,529$3,830
16 years$13,291$11,250$9,480$7,957$6,654$3,204
17 years$12,379$10,361$8,626$7,149$5,900$2,686
18 years$11,570$9,574$7,875$6,443$5,246$2,256
19 years$10,846$8,873$7,209$5,821$4,676$1,898
20 years$10,196$8,245$6,616$5,272$4,177$1,598
21 years$9,608$7,680$6,086$4,785$3,738$1,348
22 years$9,075$7,169$5,609$4,351$3,350$1,138
23 years$8,589$6,705$5,179$3,962$3,007$961
24 years$8,143$6,282$4,789$3,614$2,703$812
25 years$7,734$5,896$4,436$3,300$2,432$687
26 years$7,358$5,541$4,114$3,018$2,191$581
27 years$7,009$5,215$3,820$2,762$1,975$492
28 years$6,686$4,914$3,551$2,531$1,782$416
29 years$6,386$4,636$3,305$2,321$1,610$353
30 years$6,107$4,378$3,078$2,130$1,454$299
31 years$5,846$4,139$2,870$1,956$1,315$253
32 years$5,601$3,916$2,678$1,798$1,189$214
33 years$5,373$3,708$2,500$1,653$1,076$182
34 years$5,158$3,515$2,336$1,521$975$154
35 years$4,955$3,334$2,184$1,400$883$131
36 years$4,765$3,164$2,043$1,290$800$111
37 years$4,585$3,005$1,912$1,188$725$94
38 years$4,415$2,856$1,791$1,095$657$80
39 years$4,254$2,716$1,678$1,010$596$67
40 years$4,101$2,584$1,573$931$541$57
41 years$3,957$2,460$1,475$859$490$49
42 years$3,819$2,342$1,383$793$445$41
43 years$3,689$2,232$1,298$732$404$35
44 years$3,564$2,127$1,218$676$367$30
45 years$3,446$2,029$1,144$624$333$25
46 years$3,333$1,935$1,074$577$302$21
47 years$3,225$1,847$1,009$533$274$18
48 years$3,122$1,763$949$492$249$15
49 years$3,023$1,684$892$455$226$13
50 years$2,929$1,608$838$421$206$11

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 $5,369 every year, while hoping to spend $21,515 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: 70/11/19 Blend
57$3,000,000$3,000,000$3,000,000$3,000,000
58$3,311,538$3,152,538$3,106,038$3,527,749
59$3,626,423$3,284,121$3,187,199$3,804,135
60$3,972,706$3,421,430$3,270,357$4,103,491
61$4,353,565$3,564,723$3,355,557$4,430,613
62$4,772,504$3,714,271$3,442,844$4,788,243
63$5,233,385$3,870,355$3,532,264$5,179,401
64$5,740,458$4,033,270$3,623,864$5,607,411
65$6,298,411$4,203,327$3,717,689$6,075,933
66$6,912,407$4,380,847$3,813,790$6,588,997
67$7,588,134$4,566,171$3,912,213$7,151,038
68$8,331,861$4,759,651$4,013,010$7,766,945
69$9,150,496$4,961,658$4,116,230$8,442,097
70$10,051,647$5,172,580$4,221,925$9,182,421
71$11,043,702$5,392,824$4,330,146$9,994,441
72$12,135,900$5,622,813$4,440,947$10,885,345
73$13,338,424$5,862,992$4,554,380$11,863,050
74$14,662,491$6,113,827$4,670,500$12,936,274
75$16,120,465$6,375,804$4,789,362$14,114,621
76$17,725,968$6,649,434$4,911,021$15,408,668
77$19,494,011$6,935,250$5,035,534$16,830,068
78$21,441,134$7,233,811$5,162,958$18,391,656
79$23,585,563$7,545,702$5,293,351$20,107,571
80$25,947,384$7,871,534$5,426,771$21,993,387
81$28,548,727$8,211,950$5,563,278$24,066,264
82$31,413,980$8,567,618$5,702,931$26,345,103
83$34,570,018$8,939,243$5,845,791$28,850,727
84$38,046,453$9,327,560$5,991,919$31,606,078
85$41,875,920$9,733,339$6,141,376$34,636,429
86$46,094,377$10,157,385$6,294,226$37,969,626
87$50,741,450$10,600,544$6,450,529$41,636,346
88$55,860,807$11,063,699$6,610,350$45,670,387
89$61,500,565$11,547,777$6,773,753$50,108,988
90$67,713,750$12,053,746$6,940,802$54,993,178
91$74,558,794$12,582,621$7,111,560$60,368,160
92$82,100,088$13,135,466$7,286,094$66,283,740
93$90,408,586$13,713,393$7,464,468$72,794,796
94$99,562,482$14,317,569$7,646,747$79,961,793
95$109,647,940$14,949,215$7,832,998$87,851,351
96$120,759,912$15,609,609$8,023,286$96,536,878
97$133,003,034$16,300,090$8,217,676$106,099,258
98$146,492,611$17,022,062$8,416,236$116,627,610
99$161,355,707$17,776,993$8,619,030$128,220,137
100$177,732,347$18,566,423$8,826,125$140,985,043