Can I retire at age 58 with 3,500,000?

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 $3,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$289,027$286,452$283,940$281,489$279,095$274,246
2 years$143,083$140,418$137,835$135,331$132,902$128,033
3 years$94,441$91,765$89,188$86,708$84,319$79,580
4 years$70,125$67,457$64,906$62,468$60,137$55,566
5 years$55,539$52,887$50,370$47,982$45,715$41,325
6 years$45,818$43,186$40,706$38,371$36,173$31,968
7 years$38,878$36,268$33,827$31,547$29,418$25,400
8 years$33,674$31,088$28,688$26,464$24,405$20,573
9 years$29,630$27,068$24,709$22,542$20,553$16,905
10 years$26,396$23,859$21,542$19,431$17,512$14,045
11 years$23,752$21,240$18,965$16,911$15,061$11,771
12 years$21,550$19,064$16,831$14,833$13,051$9,934
13 years$19,688$17,228$15,038$13,095$11,381$8,431
14 years$18,094$15,660$13,511$11,625$9,977$7,189
15 years$16,713$14,306$12,199$10,367$8,784$6,154
16 years$15,506$13,125$11,060$9,283$7,763$5,285
17 years$14,443$12,088$10,064$8,340$6,884$4,551
18 years$13,498$11,170$9,187$7,516$6,121$3,928
19 years$12,654$10,352$8,411$6,792$5,455$3,397
20 years$11,895$9,620$7,719$6,151$4,873$2,943
21 years$11,210$8,960$7,100$5,583$4,361$2,553
22 years$10,587$8,364$6,544$5,076$3,909$2,217
23 years$10,020$7,823$6,042$4,623$3,509$1,928
24 years$9,501$7,329$5,588$4,216$3,154$1,678
25 years$9,024$6,878$5,175$3,850$2,838$1,461
26 years$8,584$6,464$4,800$3,521$2,556$1,274
27 years$8,177$6,084$4,457$3,223$2,305$1,111
28 years$7,801$5,733$4,143$2,953$2,080$969
29 years$7,451$5,408$3,856$2,708$1,878$846
30 years$7,124$5,107$3,592$2,485$1,697$739
31 years$6,820$4,828$3,348$2,282$1,534$646
32 years$6,535$4,569$3,124$2,097$1,388$564
33 years$6,268$4,326$2,917$1,929$1,256$493
34 years$6,017$4,100$2,725$1,775$1,137$431
35 years$5,781$3,889$2,548$1,634$1,030$377
36 years$5,559$3,691$2,384$1,504$933$330
37 years$5,349$3,506$2,231$1,386$846$288
38 years$5,151$3,332$2,089$1,278$767$252
39 years$4,963$3,168$1,957$1,178$695$221
40 years$4,785$3,014$1,835$1,087$631$193
41 years$4,616$2,869$1,720$1,003$572$169
42 years$4,456$2,733$1,614$925$519$148
43 years$4,304$2,604$1,514$854$471$129
44 years$4,158$2,482$1,421$789$428$113
45 years$4,020$2,367$1,335$728$388$99
46 years$3,888$2,258$1,254$673$352$87
47 years$3,763$2,155$1,178$622$320$76
48 years$3,642$2,057$1,107$574$291$67
49 years$3,527$1,964$1,040$531$264$58
50 years$3,417$1,876$978$491$240$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $3,500,000, adding $2,489 every year, while hoping to spend $47,350 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: 27/49/24 Blend
57$3,500,000$3,500,000$3,500,000$3,500,000
58$3,859,567$3,674,067$3,619,817$3,934,590
59$4,202,863$3,803,717$3,690,701$4,124,112
60$4,579,588$3,938,132$3,762,373$4,323,165
61$4,993,102$4,077,496$3,834,808$4,535,902
62$5,447,106$4,222,001$3,907,982$4,763,513
63$5,945,677$4,371,845$3,981,865$5,007,309
64$6,493,305$4,527,235$4,056,427$5,268,724
65$7,094,938$4,688,385$4,131,633$5,549,331
66$7,756,027$4,855,521$4,207,447$5,850,860
67$8,482,574$5,028,874$4,283,830$6,175,205
68$9,281,195$5,208,687$4,360,737$6,524,450
69$10,159,178$5,395,214$4,438,122$6,900,882
70$11,124,551$5,588,716$4,515,936$7,307,011
71$12,186,160$5,789,468$4,594,125$7,745,597
72$13,353,751$5,997,755$4,672,630$8,219,673
73$14,638,061$6,213,872$4,751,391$8,732,570
74$16,050,920$6,438,129$4,830,340$9,287,951
75$17,605,365$6,670,847$4,909,406$9,889,843
76$19,315,756$6,912,363$4,988,515$10,542,671
77$21,197,918$7,163,023$5,067,585$11,251,305
78$23,269,287$7,423,193$5,146,531$12,021,097
79$25,549,075$7,693,251$5,225,261$12,857,936
80$28,058,451$7,973,590$5,303,677$13,768,298
81$30,820,739$8,264,622$5,381,676$14,759,311
82$33,861,640$8,566,774$5,459,149$15,838,814
83$37,209,475$8,880,494$5,535,978$17,015,434
84$40,895,449$9,206,245$5,612,040$18,298,663
85$44,953,946$9,544,513$5,687,205$19,698,950
86$49,422,855$9,895,801$5,761,333$21,227,794
87$54,343,927$10,260,635$5,834,278$22,897,850
88$59,763,166$10,639,565$5,905,885$24,723,050
89$65,731,266$11,033,161$5,975,989$26,718,733
90$72,304,089$11,442,019$6,044,419$28,901,781
91$79,543,189$11,866,761$6,110,990$31,290,784
92$87,516,396$12,308,034$6,175,509$33,906,209
93$96,298,453$12,766,513$6,237,774$36,770,592
94$105,971,726$13,242,902$6,297,570$39,908,750
95$116,626,973$13,737,936$6,354,669$43,348,007
96$128,364,208$14,252,379$6,408,835$47,118,457
97$141,293,642$14,787,030$6,459,816$51,253,240
98$155,536,721$15,342,722$6,507,347$55,788,854
99$171,227,275$15,920,324$6,551,152$60,765,497
100$188,512,778$16,520,741$6,590,936$66,227,441