Can I retire at age 58 with 3,100,000?

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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$255,995$253,715$251,490$249,319$247,198$242,804
2 years$126,730$124,370$122,083$119,865$117,714$113,301
3 years$83,648$81,277$78,996$76,799$74,682$70,389
4 years$62,110$59,747$57,489$55,329$53,264$49,123
5 years$49,192$46,843$44,613$42,498$40,490$36,514
6 years$40,582$38,251$36,054$33,986$32,039$28,232
7 years$34,434$32,123$29,961$27,942$26,056$22,419
8 years$29,826$27,535$25,410$23,440$21,616$18,148
9 years$26,243$23,974$21,885$19,965$18,204$14,903
10 years$23,379$21,132$19,080$17,210$15,511$12,374
11 years$21,037$18,813$16,798$14,978$13,340$10,364
12 years$19,087$16,885$14,908$13,138$11,560$8,741
13 years$17,438$15,259$13,319$11,599$10,080$7,414
14 years$16,026$13,870$11,967$10,296$8,836$6,317
15 years$14,803$12,671$10,805$9,182$7,780$5,404
16 years$13,734$11,625$9,796$8,222$6,876$4,638
17 years$12,792$10,706$8,914$7,387$6,097$3,991
18 years$11,956$9,893$8,137$6,657$5,421$3,442
19 years$11,208$9,169$7,449$6,015$4,832$2,974
20 years$10,536$8,520$6,837$5,448$4,316$2,575
21 years$9,929$7,936$6,288$4,945$3,862$2,232
22 years$9,377$7,408$5,796$4,496$3,462$1,937
23 years$8,875$6,929$5,351$4,094$3,108$1,683
24 years$8,415$6,492$4,949$3,734$2,793$1,464
25 years$7,992$6,092$4,584$3,410$2,514$1,274
26 years$7,603$5,726$4,251$3,118$2,264$1,109
27 years$7,243$5,389$3,948$2,854$2,041$967
28 years$6,909$5,078$3,670$2,615$1,842$843
29 years$6,599$4,790$3,415$2,398$1,663$735
30 years$6,310$4,524$3,181$2,201$1,503$641
31 years$6,041$4,276$2,966$2,021$1,359$560
32 years$5,788$4,046$2,767$1,858$1,229$489
33 years$5,552$3,832$2,584$1,708$1,112$427
34 years$5,329$3,632$2,414$1,572$1,007$373
35 years$5,120$3,445$2,257$1,447$912$326
36 years$4,924$3,270$2,111$1,333$826$285
37 years$4,738$3,105$1,976$1,228$749$249
38 years$4,562$2,951$1,850$1,132$679$218
39 years$4,396$2,806$1,734$1,043$616$190
40 years$4,238$2,670$1,625$962$559$166
41 years$4,089$2,542$1,524$888$507$145
42 years$3,947$2,420$1,429$819$460$127
43 years$3,812$2,306$1,341$756$417$111
44 years$3,683$2,198$1,259$698$379$97
45 years$3,561$2,096$1,182$645$344$85
46 years$3,444$2,000$1,110$596$312$74
47 years$3,333$1,908$1,043$550$283$65
48 years$3,226$1,822$980$509$257$57
49 years$3,124$1,740$921$470$234$50
50 years$3,027$1,662$866$435$212$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $3,100,000, adding $6,316 every year, while hoping to spend $43,004 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: 62/24/14 Blend
57$3,100,000$3,100,000$3,100,000$3,100,000
58$3,422,715$3,258,415$3,210,365$3,622,863
59$3,726,076$3,372,321$3,272,156$3,871,914
60$4,058,938$3,490,368$3,334,576$4,138,205
61$4,424,266$3,612,712$3,397,601$4,427,850
62$4,825,324$3,739,517$3,461,203$4,743,118
63$5,265,708$3,870,954$3,525,354$5,086,505
64$5,749,379$4,007,200$3,590,022$5,460,756
65$6,280,701$4,148,439$3,655,174$5,868,896
66$6,864,483$4,294,862$3,720,772$6,314,252
67$7,506,019$4,446,669$3,786,777$6,800,488
68$8,211,145$4,604,068$3,853,146$7,331,635
69$8,986,288$4,767,274$3,919,832$7,912,133
70$9,838,530$4,936,511$3,986,788$8,546,871
71$10,775,674$5,112,014$4,053,959$9,241,230
72$11,806,315$5,294,025$4,121,289$10,001,137
73$12,939,925$5,482,798$4,188,718$10,833,118
74$14,186,938$5,678,596$4,256,181$11,744,360
75$15,558,851$5,881,693$4,323,608$12,742,776
76$17,068,332$6,092,374$4,390,927$13,837,084
77$18,729,338$6,310,936$4,458,059$15,036,883
78$20,557,248$6,537,689$4,524,922$16,352,747
79$22,569,007$6,772,955$4,591,426$17,796,321
80$24,783,284$7,017,069$4,657,477$19,380,433
81$27,220,654$7,270,380$4,722,978$21,119,212
82$29,903,784$7,533,252$4,787,820$23,028,224
83$32,857,651$7,806,063$4,851,894$25,124,612
84$36,109,780$8,089,207$4,915,080$27,427,265
85$39,690,495$8,383,097$4,977,253$29,956,988
86$43,633,215$8,688,158$5,038,281$32,736,702
87$47,974,763$9,004,838$5,098,024$35,791,658
88$52,755,715$9,333,600$5,156,333$39,149,675
89$58,020,780$9,674,929$5,213,052$42,841,400
90$63,819,227$10,029,328$5,268,017$46,900,598
91$70,205,346$10,397,323$5,321,054$51,364,471
92$77,238,961$10,779,462$5,371,979$56,274,004
93$84,985,994$11,176,314$5,420,599$61,674,352
94$93,519,087$11,588,475$5,466,710$67,615,270
95$102,918,288$12,016,564$5,510,099$74,151,574
96$113,271,805$12,461,228$5,550,539$81,343,661
97$124,676,840$12,923,139$5,587,793$89,258,081
98$137,240,505$13,403,001$5,621,612$97,968,156
99$151,080,833$13,901,544$5,651,732$107,554,678
100$166,327,891$14,419,533$5,677,878$118,106,666