Can I retire at age 58 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$224,615$222,614$220,662$218,757$216,897$213,040
2 years$111,196$109,125$107,118$105,172$103,284$99,412
3 years$73,394$71,314$69,312$67,384$65,528$61,761
4 years$54,497$52,423$50,442$48,547$46,735$43,102
5 years$43,162$41,101$39,145$37,289$35,527$32,038
6 years$35,607$33,562$31,635$29,820$28,111$24,771
7 years$30,213$28,185$26,289$24,517$22,862$19,671
8 years$26,170$24,160$22,295$20,566$18,966$15,923
9 years$23,027$21,035$19,203$17,518$15,972$13,076
10 years$20,513$18,542$16,741$15,101$13,609$10,857
11 years$18,458$16,507$14,739$13,142$11,704$9,093
12 years$16,747$14,815$13,080$11,527$10,143$7,669
13 years$15,300$13,389$11,686$10,177$8,845$6,505
14 years$14,061$12,170$10,500$9,034$7,753$5,543
15 years$12,988$11,118$9,480$8,057$6,827$4,742
16 years$12,051$10,200$8,595$7,214$6,033$4,069
17 years$11,224$9,394$7,821$6,482$5,350$3,502
18 years$10,490$8,680$7,140$5,841$4,757$3,020
19 years$9,834$8,045$6,536$5,278$4,240$2,610
20 years$9,244$7,476$5,999$4,780$3,787$2,259
21 years$8,712$6,963$5,518$4,338$3,389$1,958
22 years$8,228$6,500$5,085$3,945$3,038$1,700
23 years$7,787$6,079$4,695$3,592$2,727$1,477
24 years$7,383$5,696$4,342$3,277$2,451$1,284
25 years$7,013$5,345$4,022$2,992$2,205$1,118
26 years$6,671$5,024$3,730$2,736$1,987$973
27 years$6,355$4,728$3,464$2,504$1,791$848
28 years$6,062$4,455$3,220$2,295$1,616$739
29 years$5,790$4,203$2,997$2,104$1,459$645
30 years$5,537$3,969$2,791$1,931$1,319$563
31 years$5,300$3,752$2,602$1,774$1,192$491
32 years$5,079$3,550$2,428$1,630$1,078$429
33 years$4,871$3,362$2,267$1,499$976$375
34 years$4,676$3,187$2,118$1,379$884$327
35 years$4,493$3,023$1,980$1,270$800$286
36 years$4,320$2,869$1,852$1,169$725$250
37 years$4,157$2,725$1,734$1,077$657$218
38 years$4,003$2,589$1,624$993$596$191
39 years$3,857$2,462$1,521$916$540$167
40 years$3,719$2,343$1,426$844$490$146
41 years$3,588$2,230$1,337$779$445$128
42 years$3,463$2,124$1,254$719$403$112
43 years$3,345$2,024$1,177$664$366$98
44 years$3,232$1,929$1,105$613$332$85
45 years$3,124$1,839$1,037$566$302$75
46 years$3,022$1,755$974$523$274$65
47 years$2,924$1,674$915$483$249$57
48 years$2,831$1,599$860$446$226$50
49 years$2,741$1,526$808$412$205$44
50 years$2,656$1,458$760$381$186$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,720,000, adding $5,306 every year, while hoping to spend $39,556 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: 34/37/29 Blend
57$2,720,000$2,720,000$2,720,000$2,720,000
58$3,002,913$2,858,753$2,816,593$3,078,532
59$3,267,123$2,956,745$2,868,862$3,234,199
60$3,556,957$3,058,212$2,921,556$3,398,053
61$3,874,986$3,163,284$2,974,647$3,573,991
62$4,224,043$3,272,094$3,028,107$3,763,119
63$4,607,249$3,384,780$3,081,902$3,966,650
64$5,028,042$3,501,488$3,135,999$4,185,918
65$5,490,207$3,622,365$3,190,360$4,422,388
66$5,997,916$3,747,569$3,244,945$4,677,671
67$6,555,764$3,877,261$3,299,711$4,953,540
68$7,168,814$4,011,608$3,354,613$5,251,943
69$7,842,642$4,150,786$3,409,602$5,575,023
70$8,583,392$4,294,976$3,464,625$5,925,136
71$9,397,835$4,444,366$3,519,626$6,304,875
72$10,293,427$4,599,153$3,574,547$6,717,094
73$11,278,386$4,759,541$3,629,323$7,164,931
74$12,361,763$4,925,741$3,683,888$7,651,840
75$13,553,534$5,097,973$3,738,169$8,181,622
76$14,864,689$5,276,468$3,792,091$8,758,462
77$16,307,334$5,461,462$3,845,574$9,386,964
78$17,894,813$5,653,204$3,898,531$10,072,199
79$19,641,825$5,851,952$3,950,873$10,819,746
80$21,564,567$6,057,973$4,002,503$11,635,751
81$23,680,885$6,271,547$4,053,320$12,526,977
82$26,010,445$6,492,963$4,103,216$13,500,873
83$28,574,915$6,722,522$4,152,078$14,565,641
84$31,398,170$6,960,539$4,199,786$15,730,313
85$34,506,518$7,207,341$4,246,214$17,004,835
86$37,928,949$7,463,266$4,291,227$18,400,161
87$41,697,404$7,728,669$4,334,686$19,928,353
88$45,847,083$8,003,917$4,376,441$21,602,699
89$50,416,770$8,289,393$4,416,337$23,437,832
90$55,449,203$8,585,496$4,454,207$25,449,871
91$60,991,477$8,892,641$4,489,878$27,656,571
92$67,095,487$9,211,259$4,523,168$30,077,487
93$73,818,416$9,541,800$4,553,884$32,734,164
94$81,223,278$9,884,733$4,581,823$35,650,332
95$89,379,511$10,240,543$4,606,772$38,852,133
96$98,363,631$10,609,739$4,628,509$42,368,367
97$108,259,954$10,992,849$4,646,796$46,230,760
98$119,161,394$11,390,424$4,661,389$50,474,265
99$131,170,337$11,803,035$4,672,026$55,137,389
100$144,399,609$12,231,281$4,678,436$60,262,555