Can I retire at age 58 with 2,460,000?

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 $2,460,000?

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$203,145$201,335$199,570$197,846$196,164$193,873
2 years$100,567$98,694$96,878$95,118$93,411$91,106
3 years$66,378$64,497$62,687$60,943$59,264$57,015
4 years$49,288$47,412$45,620$43,906$42,268$40,093
5 years$39,036$37,172$35,403$33,724$32,131$30,036
6 years$32,204$30,354$28,611$26,970$25,424$23,412
7 years$27,325$25,491$23,776$22,173$20,677$18,749
8 years$23,668$21,850$20,164$18,600$17,153$15,309
9 years$20,825$19,025$17,367$15,843$14,446$12,684
10 years$18,552$16,769$15,141$13,657$12,308$10,628
11 years$16,694$14,929$13,330$11,886$10,586$8,985
12 years$15,146$13,399$11,830$10,426$9,173$7,651
13 years$13,838$12,109$10,569$9,204$7,999$6,554
14 years$12,717$11,007$9,496$8,170$7,012$5,641
15 years$11,747$10,055$8,574$7,287$6,174$4,875
16 years$10,899$9,225$7,774$6,524$5,457$4,228
17 years$10,151$8,496$7,074$5,862$4,838$3,677
18 years$9,487$7,851$6,457$5,283$4,302$3,206
19 years$8,894$7,276$5,911$4,774$3,834$2,801
20 years$8,361$6,761$5,425$4,323$3,425$2,452
21 years$7,879$6,298$4,990$3,924$3,065$2,149
22 years$7,441$5,879$4,599$3,568$2,747$1,887
23 years$7,043$5,498$4,247$3,249$2,466$1,658
24 years$6,678$5,152$3,927$2,963$2,217$1,459
25 years$6,342$4,834$3,637$2,706$1,995$1,285
26 years$6,033$4,544$3,374$2,474$1,797$1,133
27 years$5,748$4,276$3,133$2,265$1,620$999
28 years$5,483$4,029$2,912$2,075$1,462$882
29 years$5,237$3,801$2,710$1,903$1,320$778
30 years$5,007$3,590$2,524$1,746$1,193$688
31 years$4,793$3,394$2,353$1,604$1,078$608
32 years$4,593$3,211$2,196$1,474$975$537
33 years$4,405$3,041$2,050$1,356$883$475
34 years$4,229$2,882$1,916$1,247$799$420
35 years$4,063$2,734$1,791$1,148$724$372
36 years$3,907$2,595$1,675$1,057$656$329
37 years$3,760$2,464$1,568$974$594$291
38 years$3,620$2,342$1,468$898$539$258
39 years$3,488$2,227$1,376$828$489$228
40 years$3,363$2,119$1,290$764$443$202
41 years$3,245$2,017$1,209$705$402$179
42 years$3,132$1,921$1,134$650$365$159
43 years$3,025$1,830$1,064$600$331$141
44 years$2,923$1,744$999$554$301$125
45 years$2,826$1,664$938$512$273$110
46 years$2,733$1,587$881$473$248$98
47 years$2,645$1,514$828$437$225$87
48 years$2,560$1,446$778$404$204$77
49 years$2,479$1,381$731$373$186$68
50 years$2,402$1,319$687$345$169$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,460,000, adding $6,185 every year, while hoping to spend $35,230 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: 39/38/23 Blend
57$2,460,000$2,460,000$2,460,000$2,460,000
58$2,717,300$2,586,920$2,548,790$2,804,477
59$2,956,980$2,676,194$2,596,690$2,957,360
60$3,219,927$2,768,663$2,645,014$3,118,793
61$3,508,476$2,864,444$2,693,739$3,292,649
62$3,825,201$2,963,662$2,742,839$3,480,076
63$4,172,936$3,066,446$2,792,289$3,682,338
64$4,554,804$3,172,930$2,842,059$3,900,822
65$4,974,243$3,283,253$2,892,117$4,137,056
66$5,435,042$3,397,559$2,942,429$4,392,716
67$5,941,376$3,515,999$2,992,961$4,669,650
68$6,497,843$3,638,730$3,043,671$4,969,885
69$7,109,509$3,765,913$3,094,520$5,295,655
70$7,781,954$3,897,718$3,145,462$5,649,414
71$8,521,328$4,034,321$3,196,449$6,033,865
72$9,334,405$4,175,904$3,247,432$6,451,979
73$10,228,649$4,322,658$3,298,355$6,907,028
74$11,212,283$4,474,780$3,349,162$7,402,610
75$12,294,367$4,632,476$3,399,790$7,942,688
76$13,484,885$4,795,959$3,450,175$8,531,621
77$14,794,835$4,965,453$3,500,248$9,174,210
78$16,236,336$5,141,188$3,549,934$9,875,737
79$17,822,742$5,323,406$3,599,156$10,642,019
80$19,568,765$5,512,357$3,647,832$11,479,460
81$21,490,619$5,708,301$3,695,874$12,395,111
82$23,606,165$5,911,511$3,743,189$13,396,736
83$25,935,087$6,122,269$3,789,679$14,492,882
84$28,499,074$6,340,868$3,835,241$15,692,965
85$31,322,024$6,567,614$3,879,766$17,007,351
86$34,430,270$6,802,827$3,923,138$18,447,458
87$37,852,829$7,046,837$3,965,234$20,025,860
88$41,621,675$7,299,990$4,005,927$21,756,406
89$45,772,041$7,562,645$4,045,081$23,654,348
90$50,342,751$7,835,176$4,082,553$25,736,489
91$55,376,584$8,117,972$4,118,191$28,021,334
92$60,920,684$8,411,441$4,151,838$30,529,268
93$67,026,995$8,716,003$4,183,327$33,282,746
94$73,752,761$9,032,100$4,212,481$36,306,502
95$81,161,059$9,360,189$4,239,115$39,627,785
96$89,321,397$9,700,748$4,263,036$43,276,614
97$98,310,370$10,054,275$4,284,038$47,286,055
98$108,212,381$10,421,288$4,301,906$51,692,541
99$119,120,439$10,802,327$4,316,415$56,536,207
100$131,137,037$11,197,953$4,327,328$61,861,269