Can I retire at age 58 with 2,850,000?

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 $2,850,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$235,350$233,254$231,209$229,212$227,263$218,765
2 years$116,510$114,340$112,237$110,198$108,220$99,756
3 years$76,902$74,723$72,625$70,605$68,660$60,495
4 years$57,102$54,929$52,852$50,867$48,969$41,166
5 years$45,225$43,065$41,016$39,071$37,225$29,805
6 years$37,309$35,166$33,147$31,245$29,455$22,423
7 years$31,657$29,532$27,545$25,688$23,955$17,308
8 years$27,421$25,315$23,360$21,549$19,873$13,606
9 years$24,127$22,041$20,120$18,355$16,736$10,840
10 years$21,494$19,428$17,541$15,822$14,260$8,724
11 years$19,341$17,296$15,443$13,770$12,264$7,076
12 years$17,548$15,524$13,705$12,078$10,628$5,775
13 years$16,032$14,029$12,245$10,663$9,267$4,736
14 years$14,733$12,752$11,002$9,466$8,124$3,899
15 years$13,609$11,649$9,933$8,442$7,153$3,220
16 years$12,627$10,688$9,006$7,559$6,322$2,666
17 years$11,760$9,843$8,195$6,791$5,605$2,212
18 years$10,991$9,095$7,481$6,120$4,984$1,839
19 years$10,304$8,429$6,849$5,530$4,442$1,530
20 years$9,686$7,833$6,285$5,009$3,968$1,275
21 years$9,128$7,296$5,781$4,546$3,551$1,064
22 years$8,621$6,811$5,328$4,133$3,183$888
23 years$8,159$6,370$4,920$3,764$2,857$742
24 years$7,736$5,968$4,550$3,433$2,568$620
25 years$7,348$5,601$4,214$3,135$2,311$519
26 years$6,990$5,264$3,908$2,867$2,082$434
27 years$6,659$4,954$3,629$2,624$1,877$363
28 years$6,352$4,668$3,374$2,404$1,693$304
29 years$6,067$4,404$3,140$2,205$1,529$254
30 years$5,801$4,159$2,925$2,023$1,382$213
31 years$5,553$3,932$2,726$1,858$1,249$178
32 years$5,321$3,720$2,544$1,708$1,130$149
33 years$5,104$3,523$2,375$1,570$1,023$125
34 years$4,900$3,339$2,219$1,445$926$105
35 years$4,708$3,167$2,075$1,330$839$88
36 years$4,526$3,006$1,941$1,225$760$74
37 years$4,356$2,855$1,817$1,129$689$62
38 years$4,194$2,713$1,701$1,040$624$52
39 years$4,041$2,580$1,594$959$566$43
40 years$3,896$2,455$1,494$885$513$36
41 years$3,759$2,337$1,401$816$466$30
42 years$3,628$2,225$1,314$753$423$26
43 years$3,504$2,120$1,233$695$384$21
44 years$3,386$2,021$1,157$642$348$18
45 years$3,274$1,927$1,087$593$316$15
46 years$3,166$1,839$1,021$548$287$13
47 years$3,064$1,755$959$506$261$11
48 years$2,966$1,675$901$468$237$9
49 years$2,872$1,599$847$432$215$7
50 years$2,783$1,528$796$399$195$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,850,000, adding $3,480 every year, while hoping to spend $56,533 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: 59/21/20 Blend
57$2,850,000$2,850,000$2,850,000$2,850,000
58$3,144,290$2,993,240$2,949,065$3,313,030
59$3,404,856$3,079,758$2,987,708$3,514,410
60$3,690,106$3,168,620$3,025,750$3,727,459
61$4,002,497$3,259,883$3,063,113$3,958,548
62$4,344,736$3,353,601$3,099,712$4,209,430
63$4,719,804$3,449,832$3,135,457$4,482,040
64$5,130,984$3,548,634$3,170,254$4,778,504
65$5,581,891$3,650,064$3,204,005$5,101,166
66$6,076,509$3,754,182$3,236,604$5,452,607
67$6,619,223$3,861,048$3,267,941$5,835,669
68$7,214,867$3,970,721$3,297,899$6,253,484
69$7,868,761$4,083,264$3,326,356$6,709,500
70$8,586,768$4,198,738$3,353,183$7,207,517
71$9,375,347$4,317,205$3,378,243$7,751,718
72$10,241,612$4,438,728$3,401,394$8,346,714
73$11,193,401$4,563,369$3,422,485$8,997,583
74$12,239,346$4,691,193$3,441,357$9,709,921
75$13,388,962$4,822,264$3,457,844$10,489,892
76$14,652,726$4,956,645$3,471,772$11,344,288
77$16,042,183$5,094,400$3,482,956$12,280,591
78$17,570,055$5,235,594$3,491,204$13,307,046
79$19,250,353$5,380,291$3,496,312$14,432,738
80$21,098,519$5,528,555$3,498,068$15,667,674
81$23,131,563$5,680,449$3,496,248$17,022,884
82$25,368,229$5,836,038$3,490,620$18,510,520
83$27,829,168$5,995,384$3,480,935$20,143,972
84$30,537,135$6,158,549$3,466,938$21,937,997
85$33,517,200$6,325,596$3,448,358$23,908,851
86$36,796,988$6,496,583$3,424,912$26,074,452
87$40,406,937$6,671,572$3,396,302$28,454,541
88$44,380,586$6,850,620$3,362,219$31,070,873
89$48,754,889$7,033,784$3,322,337$33,947,423
90$53,570,567$7,221,118$3,276,314$37,110,606
91$58,872,488$7,412,676$3,223,794$40,589,534
92$64,710,093$7,608,509$3,164,403$44,416,286
93$71,137,862$7,808,665$3,097,749$48,626,215
94$78,215,824$8,013,190$3,023,424$53,258,275
95$86,010,128$8,222,126$2,940,999$58,355,398
96$94,593,664$8,435,513$2,850,025$63,964,891
97$104,046,751$8,653,387$2,750,035$70,138,888
98$114,457,897$8,875,780$2,640,538$76,934,839
99$125,924,628$9,102,719$2,521,022$84,416,057
100$138,554,414$9,334,227$2,390,950$92,652,310