Can I retire at age 58 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$239,479$237,346$235,265$233,234$231,250$222,338
2 years$118,554$116,346$114,206$112,132$110,119$101,247
3 years$78,251$76,033$73,899$71,844$69,864$61,311
4 years$58,103$55,893$53,780$51,759$49,828$41,658
5 years$46,018$43,821$41,735$39,756$37,878$30,114
6 years$37,964$35,783$33,728$31,793$29,972$22,617
7 years$32,213$30,050$28,028$26,139$24,375$17,429
8 years$27,902$25,759$23,770$21,927$20,221$13,676
9 years$24,550$22,428$20,473$18,677$17,029$10,875
10 years$21,871$19,769$17,849$16,100$14,510$8,736
11 years$19,680$17,599$15,714$14,012$12,479$7,072
12 years$17,855$15,796$13,946$12,290$10,814$5,760
13 years$16,313$14,275$12,460$10,850$9,430$4,714
14 years$14,992$12,975$11,195$9,632$8,266$3,873
15 years$13,848$11,853$10,108$8,590$7,278$3,192
16 years$12,848$10,875$9,164$7,691$6,433$2,637
17 years$11,967$10,016$8,339$6,911$5,704$2,183
18 years$11,184$9,255$7,612$6,228$5,071$1,810
19 years$10,485$8,577$6,969$5,627$4,520$1,504
20 years$9,856$7,970$6,396$5,097$4,038$1,250
21 years$9,288$7,424$5,883$4,626$3,613$1,040
22 years$8,772$6,930$5,422$4,206$3,239$866
23 years$8,302$6,482$5,006$3,830$2,907$722
24 years$7,872$6,073$4,630$3,493$2,613$602
25 years$7,477$5,699$4,288$3,190$2,351$502
26 years$7,112$5,356$3,977$2,917$2,118$419
27 years$6,776$5,041$3,693$2,670$1,910$350
28 years$6,463$4,750$3,433$2,446$1,723$292
29 years$6,173$4,481$3,195$2,243$1,556$244
30 years$5,903$4,232$2,976$2,059$1,406$204
31 years$5,651$4,001$2,774$1,891$1,271$170
32 years$5,415$3,785$2,588$1,738$1,150$142
33 years$5,193$3,585$2,417$1,598$1,040$119
34 years$4,986$3,398$2,258$1,470$942$99
35 years$4,790$3,223$2,111$1,354$853$83
36 years$4,606$3,059$1,975$1,247$773$69
37 years$4,432$2,905$1,849$1,149$701$58
38 years$4,268$2,761$1,731$1,059$635$49
39 years$4,112$2,625$1,622$976$576$41
40 years$3,965$2,498$1,520$900$522$34
41 years$3,825$2,378$1,425$831$474$28
42 years$3,692$2,264$1,337$767$430$24
43 years$3,566$2,157$1,255$708$390$20
44 years$3,446$2,056$1,178$653$354$17
45 years$3,331$1,961$1,106$603$322$14
46 years$3,222$1,871$1,039$557$292$12
47 years$3,118$1,785$976$515$265$10
48 years$3,018$1,704$917$476$241$8
49 years$2,923$1,628$862$440$219$7
50 years$2,831$1,555$810$406$199$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,900,000, adding $6,058 every year, while hoping to spend $34,342 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: 57/32/11 Blend
57$2,900,000$2,900,000$2,900,000$2,900,000
58$3,202,049$3,048,349$3,003,399$3,375,562
59$3,492,118$3,161,178$3,067,473$3,606,241
60$3,810,624$3,278,385$3,132,543$3,853,138
61$4,160,429$3,400,148$3,198,605$4,121,341
62$4,544,691$3,526,653$3,265,656$4,412,893
63$4,966,883$3,658,093$3,333,690$4,730,043
64$5,430,837$3,794,671$3,402,699$5,075,264
65$5,940,769$3,936,597$3,472,677$5,451,274
66$6,501,328$4,084,091$3,543,612$5,861,066
67$7,117,634$4,237,382$3,615,494$6,307,932
68$7,795,329$4,396,710$3,688,309$6,795,495
69$8,540,626$4,562,322$3,762,041$7,327,739
70$9,360,375$4,734,481$3,836,674$7,909,052
71$10,262,118$4,913,456$3,912,188$8,544,262
72$11,254,170$5,099,531$3,988,562$9,238,683
73$12,345,688$5,293,001$4,065,771$9,998,164
74$13,546,764$5,494,174$4,143,791$10,829,145
75$14,868,518$5,703,372$4,222,591$11,738,715
76$16,323,199$5,920,930$4,302,141$12,734,679
77$17,924,308$6,147,198$4,382,405$13,825,630
78$19,686,719$6,382,542$4,463,347$15,021,028
79$21,626,821$6,627,343$4,544,926$16,331,294
80$23,762,673$6,881,999$4,627,097$17,767,898
81$26,114,174$7,146,925$4,709,813$19,343,475
82$28,703,251$7,422,556$4,793,023$21,071,938
83$31,554,065$7,709,343$4,876,672$22,968,609
84$34,693,239$8,007,761$4,960,700$25,050,363
85$38,150,110$8,318,301$5,045,044$27,335,786
86$41,957,003$8,641,480$5,129,635$29,845,350
87$46,149,541$8,977,836$5,214,401$32,601,601
88$50,766,974$9,327,930$5,299,264$35,629,375
89$55,852,557$9,692,350$5,384,140$38,956,030
90$61,453,950$10,071,708$5,468,941$42,611,698
91$67,623,675$10,466,643$5,553,573$46,629,576
92$74,419,607$10,877,826$5,637,934$51,046,230
93$81,905,521$11,305,953$5,721,919$55,901,942
94$90,151,694$11,751,755$5,805,413$61,241,088
95$99,235,568$12,215,993$5,888,297$67,112,555
96$109,242,483$12,699,463$5,970,441$73,570,201
97$120,266,477$13,202,998$6,051,712$80,673,359
98$132,411,178$13,727,465$6,131,964$88,487,398
99$145,790,780$14,273,773$6,211,047$97,084,335
100$160,531,122$14,842,870$6,288,800$106,543,516