Can I retire at age 58 with 2,870,000?

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 $2,870,000?

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$237,002$234,891$232,831$230,821$228,858$220,300
2 years$117,328$115,143$113,025$110,972$108,980$100,456
3 years$77,441$75,247$73,135$71,101$69,141$60,919
4 years$57,502$55,314$53,223$51,224$49,312$41,455
5 years$45,542$43,367$41,303$39,345$37,486$30,014
6 years$37,571$35,413$33,379$31,464$29,662$22,580
7 years$31,880$29,739$27,738$25,869$24,123$17,430
8 years$27,613$25,492$23,524$21,701$20,012$13,701
9 years$24,296$22,196$20,261$18,484$16,853$10,916
10 years$21,645$19,564$17,664$15,933$14,360$8,785
11 years$19,476$17,417$15,551$13,867$12,350$7,126
12 years$17,671$15,632$13,802$12,163$10,702$5,815
13 years$16,144$14,127$12,331$10,738$9,332$4,769
14 years$14,837$12,841$11,079$9,532$8,181$3,926
15 years$13,705$11,731$10,003$8,501$7,203$3,243
16 years$12,715$10,763$9,069$7,612$6,366$2,685
17 years$11,843$9,912$8,253$6,839$5,645$2,228
18 years$11,068$9,159$7,534$6,163$5,019$1,852
19 years$10,376$8,489$6,897$5,569$4,473$1,541
20 years$9,754$7,888$6,329$5,044$3,996$1,284
21 years$9,192$7,347$5,822$4,578$3,576$1,071
22 years$8,682$6,859$5,366$4,162$3,205$894
23 years$8,216$6,415$4,954$3,791$2,877$747
24 years$7,791$6,010$4,582$3,457$2,586$625
25 years$7,399$5,640$4,244$3,157$2,327$522
26 years$7,039$5,301$3,936$2,887$2,096$437
27 years$6,706$4,989$3,655$2,642$1,890$366
28 years$6,397$4,701$3,398$2,421$1,705$306
29 years$6,110$4,435$3,162$2,220$1,540$256
30 years$5,842$4,188$2,945$2,038$1,391$215
31 years$5,592$3,959$2,746$1,871$1,258$180
32 years$5,359$3,746$2,562$1,720$1,138$151
33 years$5,140$3,548$2,392$1,581$1,030$126
34 years$4,934$3,362$2,235$1,455$932$106
35 years$4,741$3,189$2,089$1,340$844$89
36 years$4,558$3,027$1,955$1,234$765$74
37 years$4,386$2,875$1,829$1,137$693$62
38 years$4,224$2,732$1,713$1,048$629$52
39 years$4,070$2,598$1,605$966$570$44
40 years$3,924$2,472$1,504$891$517$37
41 years$3,785$2,353$1,411$822$469$31
42 years$3,654$2,241$1,323$759$426$26
43 years$3,529$2,135$1,242$700$386$22
44 years$3,410$2,035$1,166$647$351$18
45 years$3,297$1,941$1,094$597$318$15
46 years$3,188$1,851$1,028$552$289$13
47 years$3,085$1,767$966$510$262$11
48 years$2,987$1,687$907$471$238$9
49 years$2,892$1,611$853$435$216$7
50 years$2,802$1,539$802$402$197$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,870,000, adding $2,378 every year, while hoping to spend $58,516 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: 43/48/9 Blend
57$2,870,000$2,870,000$2,870,000$2,870,000
58$3,165,193$3,013,083$2,968,598$3,292,957
59$3,425,782$3,098,463$3,005,785$3,467,445
60$3,710,990$3,186,066$3,042,257$3,650,234
61$4,023,266$3,275,939$3,077,928$3,846,922
62$4,365,308$3,368,128$3,112,707$4,058,803
63$4,740,085$3,462,683$3,146,499$4,287,300
64$5,150,870$3,559,650$3,179,203$4,533,978
65$5,601,264$3,659,079$3,210,712$4,800,558
66$6,095,237$3,761,017$3,240,914$5,088,935
67$6,637,157$3,865,513$3,269,691$5,401,194
68$7,231,841$3,972,616$3,296,919$5,739,629
69$7,884,589$4,082,375$3,322,466$6,106,764
70$8,601,243$4,194,838$3,346,195$6,505,381
71$9,388,237$4,310,052$3,367,960$6,938,537
72$10,252,659$4,428,067$3,387,609$7,409,603
73$11,202,318$4,548,929$3,404,980$7,922,287
74$12,245,813$4,672,686$3,419,907$8,480,674
75$13,392,623$4,799,384$3,432,210$9,089,260
76$14,653,186$4,929,069$3,441,704$9,752,999
77$16,039,003$5,061,786$3,448,194$10,477,345
78$17,562,746$5,197,578$3,451,473$11,268,307
79$19,238,376$5,336,489$3,451,327$12,132,500
80$21,081,273$5,478,560$3,447,529$13,077,215
81$23,108,384$5,623,830$3,439,843$14,110,478
82$25,338,380$5,772,339$3,428,018$15,241,134
83$27,791,833$5,924,122$3,411,796$16,478,926
84$30,491,411$6,079,214$3,390,901$17,834,587
85$33,462,086$6,237,648$3,365,048$19,319,941
86$36,731,378$6,399,451$3,333,936$20,948,014
87$40,329,607$6,564,653$3,297,251$22,733,160
88$44,290,181$6,733,275$3,254,663$24,691,190
89$48,649,913$6,905,339$3,205,828$26,839,527
90$53,449,365$7,080,861$3,150,384$29,197,367
91$58,733,231$7,259,855$3,087,953$31,785,861
92$64,550,761$7,442,328$3,018,140$34,628,313
93$70,956,221$7,628,284$2,940,530$37,750,403
94$78,009,409$7,817,723$2,854,691$41,180,425
95$85,776,214$8,010,638$2,760,169$44,949,556
96$94,329,244$8,207,015$2,656,490$49,092,153
97$103,748,505$8,406,836$2,543,160$53,646,071
98$114,122,157$8,610,076$2,419,661$58,653,027
99$125,547,347$8,816,700$2,285,450$64,158,986
100$138,131,126$9,026,668$2,139,962$70,214,603