Can I retire at age 58 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$223,789$221,796$219,851$217,953$216,099$208,349
2 years$110,787$108,723$106,724$104,785$102,904$95,180
3 years$73,124$71,052$69,057$67,137$65,287$57,831
4 years$54,297$52,231$50,256$48,368$46,563$39,433
5 years$43,003$40,950$39,001$37,151$35,397$28,611
6 years$35,476$33,438$31,518$29,710$28,008$21,571
7 years$30,102$28,081$26,192$24,426$22,778$16,689
8 years$26,074$24,071$22,213$20,491$18,897$13,150
9 years$22,942$20,958$19,132$17,454$15,914$10,503
10 years$20,438$18,474$16,680$15,045$13,559$8,474
11 years$18,391$16,446$14,684$13,094$11,661$6,891
12 years$16,686$14,761$13,032$11,485$10,106$5,639
13 years$15,244$13,340$11,643$10,140$8,812$4,637
14 years$14,010$12,125$10,462$9,001$7,725$3,828
15 years$12,941$11,077$9,445$8,027$6,801$3,171
16 years$12,006$10,163$8,564$7,187$6,011$2,633
17 years$11,183$9,359$7,793$6,458$5,330$2,191
18 years$10,451$8,649$7,114$5,820$4,739$1,827
19 years$9,798$8,015$6,512$5,259$4,224$1,525
20 years$9,210$7,448$5,977$4,763$3,773$1,275
21 years$8,680$6,938$5,497$4,322$3,376$1,067
22 years$8,198$6,476$5,067$3,930$3,026$893
23 years$7,758$6,057$4,678$3,579$2,717$749
24 years$7,356$5,675$4,326$3,264$2,442$628
25 years$6,987$5,326$4,007$2,981$2,197$527
26 years$6,646$5,005$3,716$2,726$1,979$442
27 years$6,332$4,711$3,451$2,495$1,784$371
28 years$6,040$4,439$3,208$2,286$1,610$312
29 years$5,769$4,187$2,985$2,096$1,454$262
30 years$5,516$3,955$2,781$1,924$1,314$220
31 years$5,281$3,738$2,593$1,767$1,188$185
32 years$5,060$3,537$2,419$1,624$1,074$155
33 years$4,853$3,350$2,259$1,493$972$131
34 years$4,659$3,175$2,110$1,374$880$110
35 years$4,476$3,011$1,973$1,265$797$92
36 years$4,304$2,858$1,846$1,165$722$78
37 years$4,142$2,715$1,727$1,073$655$65
38 years$3,988$2,580$1,618$989$594$55
39 years$3,843$2,453$1,516$912$538$46
40 years$3,705$2,334$1,421$841$488$39
41 years$3,574$2,222$1,332$776$443$33
42 years$3,450$2,116$1,250$716$402$27
43 years$3,332$2,016$1,172$661$365$23
44 years$3,220$1,922$1,101$611$331$19
45 years$3,113$1,833$1,033$564$301$16
46 years$3,011$1,748$971$521$273$14
47 years$2,913$1,668$912$481$248$12
48 years$2,820$1,593$857$445$225$10
49 years$2,731$1,521$805$411$204$8
50 years$2,646$1,453$757$380$186$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,710,000, adding $2,039 every year, while hoping to spend $45,513 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: 66/8/26 Blend
57$2,710,000$2,710,000$2,710,000$2,710,000
58$2,988,523$2,844,893$2,802,888$3,165,352
59$3,244,927$2,935,868$2,848,360$3,375,733
60$3,525,959$3,029,774$2,893,829$3,600,353
61$3,834,082$3,126,709$2,939,248$3,844,923
62$4,172,011$3,226,770$2,984,565$4,111,409
63$4,542,735$3,330,060$3,029,726$4,401,981
64$4,949,546$3,436,685$3,074,674$4,719,027
65$5,396,070$3,546,753$3,119,346$5,065,176
66$5,886,302$3,660,377$3,163,677$5,443,326
67$6,424,642$3,777,673$3,207,598$5,856,669
68$7,015,938$3,898,762$3,251,035$6,308,720
69$7,665,530$4,023,767$3,293,911$6,803,354
70$8,379,301$4,152,818$3,336,143$7,344,838
71$9,163,730$4,286,047$3,377,644$7,937,873
72$10,025,958$4,423,590$3,418,323$8,587,639
73$10,973,850$4,565,591$3,458,081$9,299,842
74$12,016,072$4,712,194$3,496,817$10,080,771
75$13,162,172$4,863,552$3,534,421$10,937,354
76$14,422,669$5,019,822$3,570,779$11,877,223
77$15,809,152$5,181,164$3,605,771$12,908,789
78$17,334,390$5,347,746$3,639,269$14,041,319
79$19,012,454$5,519,741$3,671,140$15,285,025
80$20,858,843$5,697,327$3,701,242$16,651,160
81$22,890,638$5,880,689$3,729,427$18,152,120
82$25,126,658$6,070,018$3,755,538$19,801,568
83$27,587,639$6,265,511$3,779,410$21,614,559
84$30,296,429$6,467,372$3,800,872$23,607,680
85$33,278,204$6,675,812$3,819,740$25,799,211
86$36,560,703$6,891,049$3,835,823$28,209,296
87$40,174,493$7,113,309$3,848,922$30,860,131
88$44,153,254$7,342,824$3,858,824$33,776,176
89$48,534,100$7,579,836$3,865,308$36,984,385
90$53,357,924$7,824,593$3,868,141$40,514,459
91$58,669,788$8,077,354$3,867,080$44,399,130
92$64,519,347$8,338,386$3,861,868$48,674,465
93$70,961,316$8,607,962$3,852,236$53,380,213
94$78,055,988$8,886,370$3,837,903$58,560,172
95$85,869,799$9,173,902$3,818,574$64,262,610
96$94,475,960$9,470,865$3,793,938$70,540,717
97$103,955,145$9,777,574$3,763,671$77,453,107
98$114,396,249$10,094,354$3,727,433$85,064,374
99$125,897,232$10,421,544$3,684,868$93,445,698
100$138,566,042$10,759,492$3,635,604$102,675,521