Can I retire at age 58 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$280,769$278,268$275,828$273,446$271,121$267,955
2 years$138,994$136,406$133,897$131,465$129,105$125,919
3 years$91,743$89,143$86,640$84,231$81,910$78,801
4 years$68,121$65,529$63,052$60,683$58,419$55,413
5 years$53,952$51,376$48,931$46,611$44,409$41,514
6 years$44,509$41,952$39,543$37,275$35,139$32,359
7 years$37,767$35,231$32,861$30,646$28,578$25,913
8 years$32,712$30,200$27,869$25,708$23,708$21,158
9 years$28,783$26,294$24,003$21,897$19,965$17,530
10 years$25,642$23,177$20,926$18,876$17,012$14,689
11 years$23,073$20,633$18,423$16,428$14,631$12,419
12 years$20,934$18,519$16,350$14,409$12,679$10,575
13 years$19,126$16,736$14,608$12,721$11,056$9,058
14 years$17,577$15,213$13,125$11,292$9,692$7,797
15 years$16,236$13,897$11,850$10,071$8,533$6,738
16 years$15,063$12,750$10,744$9,017$7,542$5,843
17 years$14,030$11,742$9,777$8,102$6,687$5,082
18 years$13,112$10,851$8,925$7,302$5,946$4,431
19 years$12,293$10,056$8,170$6,598$5,300$3,871
20 years$11,556$9,345$7,498$5,975$4,734$3,388
21 years$10,890$8,704$6,897$5,423$4,236$2,971
22 years$10,285$8,125$6,357$4,931$3,797$2,608
23 years$9,734$7,599$5,869$4,491$3,408$2,292
24 years$9,229$7,120$5,428$4,096$3,064$2,017
25 years$8,766$6,682$5,027$3,740$2,757$1,776
26 years$8,339$6,280$4,663$3,420$2,483$1,565
27 years$7,944$5,910$4,330$3,130$2,239$1,381
28 years$7,578$5,569$4,025$2,868$2,020$1,218
29 years$7,238$5,254$3,746$2,630$1,824$1,076
30 years$6,921$4,962$3,489$2,414$1,648$950
31 years$6,625$4,690$3,253$2,217$1,490$840
32 years$6,348$4,438$3,035$2,037$1,348$742
33 years$6,089$4,203$2,834$1,874$1,220$657
34 years$5,845$3,983$2,648$1,724$1,104$581
35 years$5,616$3,778$2,475$1,587$1,000$514
36 years$5,400$3,586$2,316$1,461$906$455
37 years$5,196$3,406$2,167$1,347$821$403
38 years$5,003$3,237$2,030$1,241$745$356
39 years$4,821$3,078$1,901$1,144$675$316
40 years$4,648$2,928$1,782$1,056$613$280
41 years$4,484$2,788$1,671$974$556$248
42 years$4,329$2,655$1,568$899$504$219
43 years$4,181$2,529$1,471$830$458$194
44 years$4,040$2,411$1,381$766$415$172
45 years$3,905$2,299$1,297$707$377$153
46 years$3,777$2,193$1,218$654$342$135
47 years$3,655$2,093$1,144$604$311$120
48 years$3,538$1,998$1,075$558$282$106
49 years$3,426$1,908$1,011$516$256$94
50 years$3,320$1,823$950$477$233$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $3,400,000, adding $6,965 every year, while hoping to spend $57,940 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: 47/24/29 Blend
57$3,400,000$3,400,000$3,400,000$3,400,000
58$3,753,984$3,573,784$3,521,084$3,898,898
59$4,075,243$3,687,252$3,577,393$4,115,512
60$4,427,328$3,804,338$3,633,646$4,344,343
61$4,813,323$3,925,158$3,689,781$4,591,646
62$5,236,623$4,049,832$3,745,729$4,859,190
63$5,700,969$4,178,483$3,801,421$5,148,922
64$6,210,479$4,311,240$3,856,780$5,462,985
65$6,769,692$4,448,235$3,911,726$5,803,739
66$7,383,605$4,589,603$3,966,174$6,173,782
67$8,057,725$4,735,486$4,020,033$6,575,972
68$8,798,116$4,886,028$4,073,207$7,013,461
69$9,611,460$5,041,380$4,125,596$7,489,716
70$10,505,117$5,201,695$4,177,091$8,008,555
71$11,487,196$5,367,135$4,227,581$8,574,186
72$12,566,629$5,537,864$4,276,944$9,191,241
73$13,753,258$5,714,052$4,325,054$9,864,822
74$15,057,926$5,895,876$4,371,779$10,600,550
75$16,492,577$6,083,517$4,416,977$11,404,615
76$18,070,373$6,277,163$4,460,499$12,283,836
77$19,805,815$6,477,008$4,502,189$13,245,727
78$21,714,878$6,683,251$4,541,882$14,298,563
79$23,815,165$6,896,099$4,579,404$15,451,461
80$26,126,070$7,115,766$4,614,573$16,714,466
81$28,668,962$7,342,472$4,647,194$18,098,643
82$31,467,388$7,576,445$4,677,067$19,616,185
83$34,547,290$7,817,920$4,703,978$21,280,524
84$37,937,255$8,067,139$4,727,702$23,106,460
85$41,668,779$8,324,353$4,748,004$25,110,299
86$45,776,570$8,589,821$4,764,637$27,310,010
87$50,298,869$8,863,811$4,777,341$29,725,388
88$55,277,814$9,146,599$4,785,843$32,378,247
89$60,759,839$9,438,469$4,789,856$35,292,622
90$66,796,106$9,739,718$4,789,080$38,494,998
91$73,442,993$10,050,649$4,783,199$42,014,557
92$80,762,624$10,371,576$4,771,882$45,883,455
93$88,823,454$10,702,825$4,754,782$50,137,126
94$97,700,913$11,044,731$4,731,534$54,814,615
95$107,478,124$11,397,641$4,701,758$59,958,947
96$118,246,680$11,761,912$4,665,054$65,617,533
97$130,107,511$12,137,915$4,621,003$71,842,615
98$143,171,835$12,526,032$4,569,165$78,691,765
99$157,562,212$12,926,657$4,509,082$86,228,423
100$173,413,693$13,340,198$4,440,271$94,522,494