Can I retire at age 58 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$218,009$216,067$214,172$212,323$210,517$204,764
2 years$107,925$105,915$103,967$102,078$100,246$94,492
3 years$71,235$69,217$67,274$65,403$63,600$58,025
4 years$52,894$50,882$48,958$47,119$45,360$40,007
5 years$41,892$39,892$37,993$36,192$34,482$29,365
6 years$34,560$32,575$30,704$28,943$27,285$22,409
7 years$29,325$27,356$25,515$23,796$22,190$17,556
8 years$25,400$23,449$21,639$19,961$18,408$14,014
9 years$22,349$20,417$18,638$17,003$15,503$11,343
10 years$19,910$17,996$16,249$14,657$13,209$9,280
11 years$17,916$16,021$14,305$12,756$11,360$7,654
12 years$16,255$14,380$12,695$11,188$9,844$6,356
13 years$14,850$12,995$11,343$9,878$8,585$5,305
14 years$13,648$11,812$10,191$8,768$7,525$4,447
15 years$12,606$10,791$9,201$7,820$6,626$3,741
16 years$11,696$9,900$8,342$7,002$5,856$3,156
17 years$10,894$9,118$7,591$6,291$5,192$2,669
18 years$10,181$8,425$6,930$5,669$4,617$2,262
19 years$9,545$7,808$6,344$5,123$4,115$1,920
20 years$8,973$7,256$5,822$4,640$3,676$1,632
21 years$8,455$6,759$5,355$4,211$3,289$1,389
22 years$7,986$6,309$4,936$3,829$2,948$1,184
23 years$7,558$5,901$4,557$3,487$2,647$1,009
24 years$7,166$5,528$4,215$3,180$2,379$861
25 years$6,806$5,188$3,904$2,904$2,141$735
26 years$6,475$4,876$3,620$2,656$1,928$628
27 years$6,168$4,589$3,362$2,431$1,738$537
28 years$5,884$4,324$3,125$2,227$1,569$459
29 years$5,620$4,079$2,908$2,042$1,416$393
30 years$5,374$3,852$2,709$1,874$1,280$336
31 years$5,144$3,642$2,526$1,721$1,157$287
32 years$4,929$3,446$2,356$1,582$1,047$246
33 years$4,728$3,263$2,200$1,455$947$211
34 years$4,539$3,093$2,056$1,339$858$180
35 years$4,361$2,934$1,922$1,232$777$154
36 years$4,193$2,784$1,798$1,135$704$132
37 years$4,035$2,645$1,683$1,046$638$113
38 years$3,885$2,513$1,576$964$578$97
39 years$3,743$2,390$1,476$889$524$83
40 years$3,609$2,274$1,384$820$476$71
41 years$3,482$2,164$1,298$756$432$61
42 years$3,361$2,061$1,217$698$392$52
43 years$3,246$1,964$1,142$644$355$45
44 years$3,137$1,872$1,072$595$323$38
45 years$3,032$1,785$1,007$549$293$33
46 years$2,933$1,703$946$507$266$28
47 years$2,838$1,625$888$469$241$24
48 years$2,747$1,551$835$433$219$21
49 years$2,661$1,482$785$400$199$18
50 years$2,578$1,415$738$370$181$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,640,000, adding $3,700 every year, while hoping to spend $40,558 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: 28/47/25 Blend
57$2,640,000$2,640,000$2,640,000$2,640,000
58$2,913,097$2,773,177$2,732,257$2,971,842
59$3,167,079$2,865,909$2,780,634$3,111,247
60$3,445,608$2,961,826$2,829,272$3,257,128
61$3,751,145$3,061,040$2,878,138$3,413,030
62$4,086,401$3,163,670$2,927,194$3,579,838
63$4,454,361$3,269,837$2,976,402$3,758,523
64$4,858,314$3,379,667$3,025,720$3,950,151
65$5,301,883$3,493,291$3,075,102$4,155,893
66$5,789,058$3,610,846$3,124,501$4,377,035
67$6,324,236$3,732,472$3,173,867$4,614,991
68$6,912,261$3,858,315$3,223,144$4,871,313
69$7,558,467$3,988,528$3,272,274$5,147,707
70$8,268,732$4,123,267$3,321,197$5,446,048
71$9,049,532$4,262,697$3,369,847$5,768,400
72$9,908,002$4,406,987$3,418,154$6,117,028
73$10,852,001$4,556,312$3,466,045$6,494,426
74$11,890,190$4,710,856$3,513,443$6,903,337
75$13,032,110$4,870,808$3,560,263$7,346,776
76$14,288,272$5,036,365$3,606,419$7,828,061
77$15,670,261$5,207,732$3,651,819$8,350,845
78$17,190,836$5,385,119$3,696,364$8,919,142
79$18,864,060$5,568,749$3,739,950$9,537,376
80$20,705,424$5,758,848$3,782,469$10,210,409
81$22,732,001$5,955,655$3,823,806$10,943,598
82$24,962,600$6,159,416$3,863,837$11,742,837
83$27,417,945$6,370,388$3,902,436$12,614,613
84$30,120,874$6,588,836$3,939,466$13,566,069
85$33,096,550$6,815,036$3,974,785$14,605,070
86$36,372,701$7,049,275$4,008,243$15,740,273
87$39,979,878$7,291,851$4,039,681$16,981,212
88$43,951,748$7,543,075$4,068,933$18,338,385
89$48,325,408$7,803,267$4,095,824$19,823,352
90$53,141,734$8,072,761$4,120,168$21,448,843
91$58,445,770$8,351,906$4,141,773$23,228,879
92$64,287,151$8,641,061$4,160,435$25,178,899
93$70,720,569$8,940,602$4,175,938$27,315,910
94$77,806,295$9,250,919$4,188,060$29,658,643
95$85,610,739$9,572,417$4,196,562$32,227,728
96$94,207,085$9,905,516$4,201,198$35,045,891
97$103,675,977$10,250,655$4,201,706$38,138,164
98$114,106,277$10,608,288$4,197,815$41,532,121
99$125,595,912$10,978,889$4,189,236$45,258,137
100$138,252,790$11,362,949$4,175,670$49,349,673