Can I retire at age 58 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$231,221$229,162$227,152$225,191$223,276$220,852
2 years$114,466$112,334$110,268$108,265$106,322$103,882
3 years$75,553$73,412$71,351$69,366$67,455$65,074
4 years$56,100$53,965$51,925$49,975$48,109$45,806
5 years$44,431$42,309$40,296$38,385$36,572$34,352
6 years$36,655$34,549$32,565$30,697$28,938$26,805
7 years$31,102$29,014$27,062$25,238$23,535$21,490
8 years$26,940$24,870$22,951$21,171$19,524$17,567
9 years$23,704$21,654$19,767$18,033$16,442$14,572
10 years$21,117$19,087$17,234$15,545$14,010$12,225
11 years$19,001$16,992$15,172$13,529$12,049$10,348
12 years$17,240$15,251$13,465$11,866$10,441$8,823
13 years$15,750$13,783$12,030$10,476$9,105$7,567
14 years$14,475$12,528$10,809$9,300$7,981$6,522
15 years$13,370$11,445$9,759$8,294$7,027$5,644
16 years$12,405$10,500$8,848$7,426$6,211$4,901
17 years$11,554$9,670$8,051$6,672$5,507$4,269
18 years$10,799$8,936$7,350$6,013$4,896$3,727
19 years$10,123$8,282$6,728$5,433$4,364$3,261
20 years$9,516$7,696$6,175$4,921$3,898$2,859
21 years$8,968$7,168$5,680$4,466$3,489$2,510
22 years$8,470$6,691$5,235$4,061$3,127$2,207
23 years$8,016$6,258$4,833$3,698$2,807$1,943
24 years$7,601$5,864$4,470$3,373$2,523$1,712
25 years$7,219$5,503$4,140$3,080$2,270$1,510
26 years$6,867$5,172$3,840$2,816$2,045$1,333
27 years$6,542$4,867$3,566$2,578$1,844$1,177
28 years$6,241$4,586$3,315$2,362$1,664$1,041
29 years$5,961$4,327$3,085$2,166$1,502$920
30 years$5,700$4,086$2,873$1,988$1,357$814
31 years$5,456$3,863$2,679$1,826$1,227$721
32 years$5,228$3,655$2,499$1,678$1,110$638
33 years$5,014$3,461$2,334$1,543$1,005$566
34 years$4,814$3,280$2,180$1,420$910$501
35 years$4,625$3,111$2,038$1,307$824$444
36 years$4,447$2,953$1,907$1,204$746$394
37 years$4,279$2,805$1,785$1,109$677$349
38 years$4,120$2,666$1,671$1,022$613$310
39 years$3,970$2,535$1,566$942$556$275
40 years$3,828$2,412$1,468$869$504$244
41 years$3,693$2,296$1,376$802$458$216
42 years$3,565$2,186$1,291$740$415$192
43 years$3,443$2,083$1,211$683$377$170
44 years$3,327$1,986$1,137$631$342$151
45 years$3,216$1,893$1,068$583$311$134
46 years$3,111$1,806$1,003$538$282$119
47 years$3,010$1,724$942$497$256$106
48 years$2,914$1,646$885$459$233$94
49 years$2,822$1,571$832$425$211$83
50 years$2,734$1,501$782$392$192$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,800,000, adding $3,406 every year, while hoping to spend $37,454 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: 79/16/5 Blend
57$2,800,000$2,800,000$2,800,000$2,800,000
58$3,089,113$2,940,713$2,897,313$3,332,292
59$3,364,352$3,044,957$2,954,523$3,596,269
60$3,666,410$3,153,054$3,012,393$3,880,481
61$3,997,983$3,265,153$3,070,907$4,191,096
62$4,362,041$3,381,409$3,130,046$4,530,727
63$4,761,854$3,501,984$3,189,788$4,902,245
64$5,201,028$3,627,046$3,250,111$5,308,817
65$5,683,532$3,756,770$3,310,988$5,753,925
66$6,213,739$3,891,338$3,372,393$6,241,408
67$6,796,467$4,030,941$3,434,296$6,775,490
68$7,437,025$4,175,775$3,496,663$7,360,824
69$8,141,261$4,326,047$3,559,460$8,002,534
70$8,915,617$4,481,971$3,622,649$8,706,262
71$9,767,191$4,643,769$3,686,189$9,478,224
72$10,703,804$4,811,673$3,750,036$10,325,266
73$11,734,074$4,985,927$3,814,144$11,254,926
74$12,867,493$5,166,781$3,878,462$12,275,511
75$14,114,522$5,354,498$3,942,935$13,396,168
76$15,486,686$5,549,351$4,007,506$14,626,973
77$16,996,685$5,751,626$4,072,114$15,979,028
78$18,658,509$5,961,618$4,136,692$17,464,558
79$20,487,576$6,179,636$4,201,171$19,097,036
80$22,500,874$6,406,004$4,265,475$20,891,300
81$24,717,121$6,641,056$4,329,526$22,863,697
82$27,156,941$6,885,141$4,393,239$25,032,240
83$29,843,062$7,138,626$4,456,525$27,416,768
84$32,800,524$7,401,888$4,519,289$30,039,143
85$36,056,921$7,675,325$4,581,429$32,923,448
86$39,642,660$7,959,348$4,642,839$36,096,217
87$43,591,244$8,254,389$4,703,407$39,586,686
88$47,939,592$8,560,895$4,763,012$43,427,065
89$52,728,385$8,879,334$4,821,528$47,652,841
90$58,002,453$9,210,194$4,878,822$52,303,118
91$63,811,192$9,553,982$4,934,751$57,420,978
92$70,209,037$9,911,230$4,989,168$63,053,890
93$77,255,968$10,282,490$5,041,915$69,254,160
94$85,018,082$10,668,338$5,092,825$76,079,418
95$93,568,216$11,069,375$5,141,724$83,593,166
96$102,986,629$11,486,230$5,188,427$91,865,372
97$113,361,766$11,919,556$5,232,740$100,973,134
98$124,791,088$12,370,036$5,274,458$111,001,404
99$137,381,992$12,838,381$5,313,366$122,043,791
100$151,252,829$13,325,335$5,349,237$134,203,439