Can I retire at age 58 with 3,200,000?

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 $3,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$264,253$261,899$259,603$257,361$255,172$246,708
2 years$130,818$128,382$126,021$123,731$121,511$113,065
3 years$86,346$83,899$81,544$79,276$77,091$68,930
4 years$64,114$61,675$59,343$57,114$54,982$47,167
5 years$50,778$48,354$46,053$43,869$41,797$34,349
6 years$41,891$39,484$37,217$35,082$33,072$25,997
7 years$35,545$33,159$30,928$28,843$26,897$20,194
8 years$30,788$28,423$26,229$24,196$22,313$15,978
9 years$27,090$24,748$22,591$20,609$18,791$12,816
10 years$24,133$21,814$19,696$17,766$16,011$10,386
11 years$21,716$19,420$17,340$15,461$13,770$8,485
12 years$19,703$17,430$15,388$13,562$11,933$6,975
13 years$18,000$15,752$13,749$11,973$10,406$5,763
14 years$16,543$14,318$12,353$10,628$9,121$4,781
15 years$15,281$13,080$11,153$9,478$8,031$3,980
16 years$14,177$12,000$10,112$8,487$7,098$3,322
17 years$13,205$11,052$9,202$7,625$6,294$2,779
18 years$12,341$10,212$8,400$6,872$5,596$2,329
19 years$11,569$9,465$7,690$6,210$4,988$1,954
20 years$10,876$8,795$7,057$5,624$4,455$1,643
21 years$10,249$8,192$6,491$5,104$3,987$1,382
22 years$9,680$7,647$5,983$4,641$3,574$1,164
23 years$9,161$7,152$5,524$4,226$3,208$980
24 years$8,686$6,701$5,109$3,855$2,883$827
25 years$8,250$6,289$4,732$3,520$2,595$697
26 years$7,848$5,910$4,388$3,219$2,337$589
27 years$7,477$5,562$4,075$2,946$2,107$497
28 years$7,132$5,241$3,788$2,699$1,901$420
29 years$6,812$4,945$3,525$2,475$1,717$355
30 years$6,514$4,670$3,284$2,272$1,551$300
31 years$6,235$4,414$3,061$2,087$1,402$253
32 years$5,975$4,177$2,856$1,918$1,269$214
33 years$5,731$3,956$2,667$1,763$1,148$181
34 years$5,501$3,749$2,492$1,622$1,039$153
35 years$5,286$3,556$2,330$1,494$942$129
36 years$5,082$3,375$2,179$1,376$853$109
37 years$4,890$3,206$2,040$1,267$773$93
38 years$4,709$3,046$1,910$1,168$701$78
39 years$4,538$2,897$1,790$1,077$636$66
40 years$4,375$2,756$1,677$993$577$56
41 years$4,221$2,624$1,573$917$523$47
42 years$4,074$2,499$1,475$846$475$40
43 years$3,935$2,381$1,384$781$431$34
44 years$3,802$2,269$1,300$721$391$29
45 years$3,676$2,164$1,220$666$355$24
46 years$3,555$2,064$1,146$615$322$21
47 years$3,440$1,970$1,077$568$293$17
48 years$3,330$1,881$1,012$525$266$15
49 years$3,225$1,796$951$485$241$12
50 years$3,124$1,715$894$449$219$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $3,200,000, adding $5,956 every year, while hoping to spend $47,847 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: 26/45/29 Blend
57$3,200,000$3,200,000$3,200,000$3,200,000
58$3,532,544$3,362,944$3,313,344$3,592,323
59$3,841,954$3,476,819$3,373,432$3,756,064
60$4,181,321$3,594,671$3,433,929$3,927,157
61$4,553,649$3,716,643$3,494,799$4,109,754
62$4,962,249$3,842,886$3,556,002$4,304,861
63$5,410,765$3,973,554$3,617,495$4,513,585
64$5,903,215$4,108,810$3,679,233$4,737,139
65$6,444,022$4,248,821$3,741,167$4,976,855
66$7,038,060$4,393,760$3,803,243$5,234,195
67$7,690,697$4,543,810$3,865,407$5,510,767
68$8,407,848$4,699,156$3,927,598$5,808,336
69$9,196,028$4,859,995$3,989,752$6,128,841
70$10,062,416$5,026,528$4,051,802$6,474,415
71$11,014,920$5,198,965$4,113,675$6,847,401
72$12,062,252$5,377,525$4,175,294$7,250,376
73$13,214,013$5,562,435$4,236,577$7,686,173
74$14,480,778$5,753,929$4,297,438$8,157,906
75$15,874,199$5,952,254$4,357,784$8,669,004
76$17,407,115$6,157,662$4,417,517$9,223,234
77$19,093,671$6,370,418$4,476,535$9,824,745
78$20,949,454$6,590,797$4,534,727$10,478,098
79$22,991,636$6,819,084$4,591,978$11,188,314
80$25,239,139$7,055,574$4,648,165$11,960,918
81$27,712,811$7,300,577$4,703,158$12,801,990
82$30,435,625$7,554,413$4,756,821$13,718,222
83$33,432,893$7,817,414$4,809,010$14,716,981
84$36,732,507$8,089,926$4,859,570$15,806,376
85$40,365,199$8,372,309$4,908,343$16,995,335
86$44,364,835$8,664,937$4,955,157$18,293,686
87$48,768,728$8,968,199$4,999,835$19,712,251
88$53,617,997$9,282,500$5,042,188$21,262,946
89$58,957,949$9,608,259$5,082,018$22,958,891
90$64,838,511$9,945,914$5,119,116$24,814,535
91$71,314,695$10,295,920$5,153,263$26,845,791
92$78,447,124$10,658,750$5,184,227$29,070,181
93$86,302,598$11,034,897$5,211,766$31,507,005
94$94,954,727$11,424,871$5,235,625$34,177,520
95$104,484,626$11,829,205$5,255,534$37,105,136
96$114,981,676$12,248,455$5,271,213$40,315,642
97$126,544,373$12,683,195$5,282,365$43,837,442
98$139,281,254$13,134,027$5,288,679$47,701,825
99$153,311,922$13,601,574$5,289,830$51,943,256
100$168,768,173$14,086,487$5,285,474$56,599,701