Can I retire at age 58 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$232,873$230,799$228,775$226,800$224,871$221,145
2 years$115,284$113,137$111,056$109,038$107,081$103,339
3 years$76,092$73,936$71,860$69,862$67,937$64,294
4 years$56,501$54,351$52,296$50,332$48,453$44,938
5 years$44,748$42,612$40,584$38,659$36,833$33,456
6 years$36,916$34,796$32,798$30,916$29,145$25,909
7 years$31,324$29,221$27,255$25,418$23,703$20,609
8 years$27,132$25,048$23,114$21,323$19,664$16,712
9 years$23,873$21,809$19,909$18,162$16,560$13,748
10 years$21,267$19,223$17,357$15,656$14,110$11,436
11 years$19,137$17,113$15,281$13,625$12,135$9,596
12 years$17,363$15,360$13,561$11,951$10,516$8,109
13 years$15,863$13,881$12,116$10,551$9,170$6,892
14 years$14,578$12,618$10,886$9,366$8,038$5,884
15 years$13,466$11,526$9,829$8,353$7,078$5,044
16 years$12,494$10,575$8,911$7,479$6,255$4,338
17 years$11,637$9,739$8,109$6,720$5,546$3,741
18 years$10,876$9,000$7,402$6,056$4,931$3,233
19 years$10,196$8,341$6,777$5,472$4,396$2,800
20 years$9,584$7,751$6,219$4,956$3,926$2,430
21 years$9,032$7,219$5,720$4,498$3,513$2,111
22 years$8,530$6,739$5,272$4,090$3,149$1,836
23 years$8,073$6,303$4,868$3,725$2,827$1,599
24 years$7,655$5,905$4,502$3,397$2,541$1,394
25 years$7,270$5,542$4,170$3,102$2,287$1,216
26 years$6,916$5,209$3,867$2,837$2,060$1,062
27 years$6,589$4,902$3,591$2,596$1,857$927
28 years$6,285$4,619$3,338$2,379$1,676$810
29 years$6,003$4,357$3,107$2,181$1,513$709
30 years$5,740$4,115$2,894$2,002$1,367$620
31 years$5,495$3,890$2,698$1,839$1,236$542
32 years$5,265$3,681$2,517$1,690$1,118$475
33 years$5,050$3,486$2,350$1,554$1,012$416
34 years$4,848$3,304$2,196$1,430$916$364
35 years$4,658$3,134$2,053$1,316$830$319
36 years$4,479$2,974$1,921$1,212$752$279
37 years$4,310$2,825$1,798$1,117$681$245
38 years$4,150$2,685$1,683$1,029$618$214
39 years$3,999$2,553$1,577$949$560$188
40 years$3,855$2,429$1,478$875$508$165
41 years$3,719$2,312$1,386$808$461$144
42 years$3,590$2,202$1,300$745$418$127
43 years$3,467$2,098$1,220$688$380$111
44 years$3,351$2,000$1,145$635$345$97
45 years$3,239$1,907$1,075$587$313$85
46 years$3,133$1,819$1,010$542$284$75
47 years$3,032$1,736$949$501$258$66
48 years$2,935$1,657$892$463$234$58
49 years$2,842$1,583$838$428$213$50
50 years$2,753$1,512$788$395$193$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,820,000, adding $5,789 every year, while hoping to spend $24,008 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: 45/27/28 Blend
57$2,820,000$2,820,000$2,820,000$2,820,000
58$3,113,611$2,964,151$2,920,441$3,228,285
59$3,405,655$3,083,850$2,992,732$3,430,090
60$3,726,683$3,208,610$3,066,639$3,646,066
61$4,079,626$3,338,653$3,142,193$3,879,843
62$4,467,713$3,474,212$3,219,421$4,133,097
63$4,894,501$3,615,530$3,298,354$4,407,669
64$5,363,911$3,762,862$3,379,019$4,705,583
65$5,880,261$3,916,473$3,461,448$5,029,066
66$6,448,310$4,076,643$3,545,668$5,380,564
67$7,073,300$4,243,661$3,631,710$5,762,769
68$7,761,008$4,417,831$3,719,604$6,178,638
69$8,517,798$4,599,472$3,809,378$6,631,429
70$9,350,683$4,788,916$3,901,062$7,124,719
71$10,267,391$4,986,511$3,994,686$7,662,450
72$11,276,436$5,192,621$4,090,279$8,248,955
73$12,387,199$5,407,626$4,187,870$8,889,001
74$13,610,018$5,631,925$4,287,488$9,587,838
75$14,956,283$5,865,932$4,389,162$10,351,239
76$16,438,546$6,110,084$4,492,920$11,185,560
77$18,070,635$6,364,837$4,598,792$12,097,798
78$19,867,792$6,630,666$4,706,803$13,095,651
79$21,846,809$6,908,070$4,816,983$14,187,598
80$24,026,189$7,197,571$4,929,357$15,382,969
81$26,426,322$7,499,714$5,043,953$16,692,038
82$29,069,677$7,815,070$5,160,795$18,126,117
83$31,981,012$8,144,237$5,279,910$19,697,660
84$35,187,609$8,487,838$5,401,321$21,420,380
85$38,719,533$8,846,529$5,525,052$23,309,378
86$42,609,910$9,220,994$5,651,126$25,381,283
87$46,895,246$9,611,949$5,779,565$27,654,406
88$51,615,770$10,020,143$5,910,389$30,148,915
89$56,815,809$10,446,360$6,043,617$32,887,021
90$62,544,211$10,891,422$6,179,268$35,893,186
91$68,854,807$11,356,187$6,317,359$39,194,350
92$75,806,912$11,841,555$6,457,906$42,820,190
93$83,465,892$12,348,467$6,600,921$46,803,390
94$91,903,779$12,877,908$6,746,418$51,179,954
95$101,199,948$13,430,908$6,894,406$55,989,539
96$111,441,869$14,008,549$7,044,895$61,275,829
97$122,725,930$14,611,959$7,197,890$67,086,946
98$135,158,351$15,242,321$7,353,395$73,475,901
99$148,856,182$15,900,874$7,511,413$80,501,089
100$163,948,410$16,588,914$7,671,942$88,226,843