Can I retire at age 58 with 2,860,000?

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 $2,860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$236,176$234,072$232,020$230,017$228,060$222,638
2 years$116,919$114,741$112,631$110,585$108,600$103,168
3 years$77,172$74,985$72,880$70,853$68,900$63,630
4 years$57,302$55,122$53,038$51,045$49,140$44,071
5 years$45,383$43,216$41,159$39,208$37,356$32,502
6 years$37,440$35,289$33,263$31,355$29,558$24,925
7 years$31,769$29,636$27,642$25,779$24,039$19,627
8 years$27,517$25,403$23,442$21,625$19,943$15,750
9 years$24,212$22,118$20,191$18,420$16,794$12,818
10 years$21,569$19,496$17,603$15,878$14,310$10,545
11 years$19,408$17,356$15,497$13,819$12,307$8,748
12 years$17,609$15,578$13,753$12,121$10,665$7,307
13 years$16,088$14,078$12,288$10,701$9,300$6,136
14 years$14,785$12,796$11,041$9,499$8,152$5,175
15 years$13,657$11,690$9,968$8,471$7,178$4,381
16 years$12,671$10,725$9,038$7,585$6,344$3,720
17 years$11,802$9,878$8,224$6,815$5,625$3,167
18 years$11,030$9,127$7,507$6,142$5,001$2,702
19 years$10,340$8,459$6,873$5,550$4,458$2,309
20 years$9,720$7,861$6,307$5,026$3,982$1,976
21 years$9,160$7,322$5,802$4,562$3,563$1,694
22 years$8,651$6,835$5,347$4,148$3,194$1,453
23 years$8,188$6,392$4,937$3,777$2,867$1,248
24 years$7,763$5,989$4,566$3,445$2,577$1,072
25 years$7,374$5,621$4,229$3,146$2,319$922
26 years$7,014$5,282$3,922$2,877$2,089$793
27 years$6,682$4,971$3,642$2,633$1,883$683
28 years$6,374$4,684$3,386$2,413$1,699$588
29 years$6,088$4,419$3,151$2,212$1,534$507
30 years$5,822$4,174$2,935$2,030$1,386$437
31 years$5,573$3,945$2,736$1,865$1,253$377
32 years$5,340$3,733$2,553$1,714$1,134$325
33 years$5,122$3,535$2,384$1,576$1,026$280
34 years$4,917$3,351$2,227$1,450$929$242
35 years$4,724$3,178$2,082$1,335$841$208
36 years$4,542$3,016$1,948$1,229$762$180
37 years$4,371$2,865$1,823$1,133$691$155
38 years$4,209$2,723$1,707$1,044$626$134
39 years$4,055$2,589$1,599$963$568$116
40 years$3,910$2,463$1,499$888$515$100
41 years$3,772$2,345$1,406$819$467$86
42 years$3,641$2,233$1,319$756$424$74
43 years$3,517$2,128$1,237$698$385$64
44 years$3,398$2,028$1,162$644$349$55
45 years$3,285$1,934$1,091$595$317$48
46 years$3,177$1,845$1,024$550$288$41
47 years$3,075$1,761$962$508$262$36
48 years$2,976$1,681$904$469$238$31
49 years$2,882$1,605$850$434$216$27
50 years$2,792$1,533$799$401$196$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,860,000, adding $2,103 every year, while hoping to spend $45,228 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: 87/5/8 Blend
57$2,860,000$2,860,000$2,860,000$2,860,000
58$3,153,889$3,002,309$2,957,979$3,425,593
59$3,427,464$3,101,300$3,008,949$3,702,007
60$3,727,427$3,203,626$3,060,111$3,999,333
61$4,056,423$3,309,402$3,111,423$4,324,692
62$4,417,363$3,418,748$3,162,841$4,680,878
63$4,813,456$3,531,788$3,214,318$5,070,969
64$5,248,234$3,648,652$3,265,804$5,498,356
65$5,725,590$3,769,471$3,317,244$5,966,772
66$6,249,810$3,894,385$3,368,581$6,480,330
67$6,825,617$4,023,536$3,419,755$7,043,561
68$7,458,213$4,157,073$3,470,700$7,661,455
69$8,153,331$4,295,149$3,521,348$8,339,510
70$8,917,283$4,437,924$3,571,626$9,083,781
71$9,757,027$4,585,563$3,621,456$9,900,941
72$10,680,225$4,738,237$3,670,756$10,798,338
73$11,695,320$4,896,123$3,719,439$11,784,069
74$12,811,615$5,059,406$3,767,413$12,867,057
75$14,039,359$5,228,276$3,814,580$14,057,127
76$15,389,843$5,402,930$3,860,837$15,365,109
77$16,875,507$5,583,574$3,906,076$16,802,931
78$18,510,061$5,770,421$3,950,181$18,383,738
79$20,308,606$5,963,691$3,993,032$20,122,012
80$22,287,784$6,163,612$4,034,499$22,033,708
81$24,465,931$6,370,422$4,074,447$24,136,408
82$26,863,250$6,584,367$4,112,735$26,449,482
83$29,502,002$6,805,701$4,149,212$28,994,274
84$32,406,716$7,034,690$4,183,720$31,794,303
85$35,604,419$7,271,608$4,216,093$34,875,480
86$39,124,892$7,516,740$4,246,155$38,266,361
87$43,000,952$7,770,381$4,273,722$41,998,406
88$47,268,758$8,032,838$4,298,600$46,106,284
89$51,968,154$8,304,429$4,320,586$50,628,195
90$57,143,044$8,585,485$4,339,464$55,606,232
91$62,841,809$8,876,348$4,355,010$61,086,779
92$69,117,758$9,177,374$4,366,988$67,120,945
93$76,029,635$9,488,931$4,375,148$73,765,051
94$83,642,173$9,811,404$4,379,231$81,081,155
95$92,026,702$10,145,190$4,378,962$89,137,644
96$101,261,822$10,490,701$4,374,054$98,009,874
97$111,434,150$10,848,367$4,364,207$107,780,885
98$122,639,129$11,218,633$4,349,103$118,542,181
99$134,981,934$11,601,960$4,328,413$130,394,594
100$148,578,465$11,998,830$4,301,788$143,449,239