Can I retire at age 58 with 2,530,000?

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 $2,530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$208,925$207,064$205,248$203,476$201,746$195,680
2 years$103,428$101,502$99,635$97,825$96,069$90,009
3 years$68,267$66,333$64,471$62,677$60,950$55,086
4 years$50,690$48,762$46,918$45,156$43,470$37,846
5 years$40,147$38,230$36,410$34,684$33,045$27,677
6 years$33,120$31,217$29,425$27,737$26,148$21,040
7 years$28,103$26,216$24,452$22,804$21,265$16,418
8 years$24,342$22,472$20,737$19,130$17,641$13,052
9 years$21,418$19,566$17,861$16,294$14,857$10,520
10 years$19,080$17,247$15,572$14,046$12,659$8,568
11 years$17,169$15,354$13,709$12,224$10,887$7,036
12 years$15,577$13,781$12,167$10,722$9,434$5,815
13 years$14,232$12,454$10,870$9,466$8,227$4,831
14 years$13,079$11,320$9,767$8,403$7,212$4,030
15 years$12,081$10,341$8,818$7,494$6,350$3,374
16 years$11,209$9,488$7,995$6,710$5,612$2,832
17 years$10,440$8,738$7,275$6,029$4,976$2,383
18 years$9,757$8,074$6,641$5,433$4,424$2,009
19 years$9,147$7,483$6,080$4,909$3,943$1,696
20 years$8,599$6,954$5,580$4,446$3,522$1,434
21 years$8,103$6,477$5,132$4,035$3,152$1,214
22 years$7,653$6,046$4,730$3,669$2,825$1,029
23 years$7,243$5,655$4,367$3,342$2,536$872
24 years$6,868$5,298$4,039$3,048$2,280$740
25 years$6,523$4,972$3,741$2,783$2,051$629
26 years$6,205$4,673$3,470$2,545$1,848$534
27 years$5,911$4,398$3,222$2,329$1,666$454
28 years$5,639$4,144$2,995$2,134$1,503$386
29 years$5,386$3,909$2,787$1,957$1,357$328
30 years$5,150$3,692$2,596$1,796$1,226$279
31 years$4,930$3,490$2,420$1,650$1,109$237
32 years$4,724$3,302$2,258$1,516$1,003$202
33 years$4,531$3,127$2,109$1,394$908$172
34 years$4,350$2,964$1,970$1,283$822$146
35 years$4,179$2,811$1,842$1,181$744$125
36 years$4,018$2,668$1,723$1,088$674$106
37 years$3,867$2,534$1,613$1,002$611$90
38 years$3,723$2,409$1,510$924$554$77
39 years$3,587$2,290$1,415$852$503$65
40 years$3,459$2,179$1,326$785$456$56
41 years$3,337$2,074$1,244$725$414$47
42 years$3,221$1,975$1,167$669$375$40
43 years$3,111$1,882$1,095$617$341$34
44 years$3,006$1,794$1,027$570$309$29
45 years$2,906$1,711$965$526$281$25
46 years$2,811$1,632$906$486$255$21
47 years$2,720$1,558$851$449$231$18
48 years$2,633$1,487$800$415$210$15
49 years$2,550$1,420$752$384$191$13
50 years$2,470$1,356$707$355$173$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,530,000, adding $4,424 every year, while hoping to spend $38,325 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: 62/14/24 Blend
57$2,530,000$2,530,000$2,530,000$2,530,000
58$2,792,623$2,658,533$2,619,318$2,947,803
59$3,036,693$2,748,024$2,666,288$3,142,898
60$3,304,374$2,840,615$2,713,547$3,351,208
61$3,598,033$2,936,418$2,761,064$3,577,807
62$3,920,279$3,035,549$2,808,806$3,824,485
63$4,273,984$3,138,128$2,856,737$4,093,215
64$4,662,313$3,244,279$2,904,820$4,386,166
65$5,088,752$3,354,131$2,953,014$4,705,730
66$5,557,140$3,467,818$3,001,276$5,054,539
67$6,071,707$3,585,481$3,049,558$5,435,493
68$6,637,115$3,707,263$3,097,811$5,851,784
69$7,258,495$3,833,314$3,145,983$6,306,929
70$7,941,505$3,963,790$3,194,017$6,804,802
71$8,692,376$4,098,852$3,241,853$7,349,669
72$9,517,971$4,238,669$3,289,429$7,946,228
73$10,425,855$4,383,415$3,336,675$8,599,657
74$11,424,360$4,533,270$3,383,522$9,315,659
75$12,522,668$4,688,423$3,429,892$10,100,513
76$13,730,893$4,849,068$3,475,707$10,961,142
77$15,060,180$5,015,409$3,520,879$11,905,168
78$16,522,810$5,187,656$3,565,321$12,940,990
79$18,132,313$5,366,027$3,608,935$14,077,862
80$19,903,597$5,550,750$3,651,622$15,325,977
81$21,853,088$5,742,061$3,693,276$16,696,567
82$23,998,886$5,940,205$3,733,783$18,202,008
83$26,360,934$6,145,437$3,773,026$19,855,932
84$28,961,207$6,358,021$3,810,880$21,673,363
85$31,823,918$6,578,232$3,847,213$23,670,852
86$34,975,749$6,806,357$3,881,887$25,866,637
87$38,446,100$7,042,693$3,914,754$28,280,812
88$42,267,365$7,287,547$3,945,661$30,935,518
89$46,475,242$7,541,243$3,974,446$33,855,152
90$51,109,065$7,804,112$4,000,938$37,066,596
91$56,212,178$8,076,503$4,024,959$40,599,471
92$61,832,344$8,358,775$4,046,319$44,486,416
93$68,022,193$8,651,304$4,064,820$48,763,398
94$74,839,718$8,954,480$4,080,253$53,470,044
95$82,348,828$9,268,708$4,092,400$58,650,027
96$90,619,945$9,594,411$4,101,032$64,351,464
97$99,730,668$9,932,026$4,105,905$70,627,382
98$109,766,511$10,282,011$4,106,768$77,536,211
99$120,821,705$10,644,839$4,103,354$85,142,336
100$133,000,087$11,021,004$4,095,385$93,516,707