Can I retire at age 58 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$241,957$239,801$237,699$235,646$233,642$231,878
2 years$119,781$117,550$115,388$113,292$111,258$109,480
3 years$79,060$76,820$74,664$72,587$70,587$68,849
4 years$58,704$56,471$54,336$52,295$50,343$48,659
5 years$46,494$44,274$42,167$40,167$38,270$36,645
6 years$38,356$36,153$34,077$32,122$30,282$28,718
7 years$32,546$30,361$28,318$26,409$24,627$23,125
8 years$28,190$26,025$24,016$22,154$20,431$18,990
9 years$24,804$22,660$20,685$18,870$17,206$15,827
10 years$22,097$19,973$18,034$16,267$14,660$13,342
11 years$19,884$17,781$15,877$14,157$12,608$11,349
12 years$18,040$15,959$14,090$12,417$10,926$9,726
13 years$16,482$14,423$12,589$10,963$9,528$8,385
14 years$15,147$13,110$11,311$9,731$8,352$7,265
15 years$13,991$11,976$10,212$8,679$7,354$6,321
16 years$12,981$10,988$9,259$7,771$6,499$5,519
17 years$12,091$10,119$8,425$6,982$5,763$4,834
18 years$11,300$9,351$7,691$6,292$5,124$4,244
19 years$10,593$8,666$7,041$5,686$4,567$3,735
20 years$9,958$8,053$6,462$5,149$4,079$3,294
21 years$9,384$7,501$5,944$4,673$3,651$2,909
22 years$8,863$7,002$5,478$4,249$3,272$2,573
23 years$8,388$6,549$5,058$3,870$2,937$2,279
24 years$7,953$6,136$4,678$3,530$2,640$2,021
25 years$7,554$5,758$4,332$3,223$2,376$1,793
26 years$7,186$5,412$4,018$2,947$2,140$1,593
27 years$6,846$5,093$3,731$2,698$1,929$1,416
28 years$6,530$4,799$3,469$2,472$1,741$1,260
29 years$6,237$4,527$3,228$2,267$1,572$1,121
30 years$5,964$4,276$3,007$2,080$1,420$999
31 years$5,709$4,042$2,803$1,910$1,284$890
32 years$5,471$3,824$2,615$1,756$1,162$793
33 years$5,247$3,622$2,442$1,615$1,051$707
34 years$5,037$3,433$2,282$1,486$952$631
35 years$4,840$3,256$2,133$1,368$862$563
36 years$4,654$3,090$1,995$1,259$781$503
37 years$4,478$2,935$1,868$1,160$708$449
38 years$4,312$2,789$1,749$1,070$642$401
39 years$4,155$2,652$1,639$986$582$358
40 years$4,006$2,524$1,536$910$528$320
41 years$3,865$2,402$1,440$839$479$285
42 years$3,730$2,288$1,351$775$435$255
43 years$3,603$2,180$1,268$715$394$228
44 years$3,481$2,078$1,190$660$358$204
45 years$3,366$1,981$1,117$610$325$182
46 years$3,255$1,890$1,049$563$295$163
47 years$3,150$1,804$986$520$268$145
48 years$3,049$1,722$926$481$243$130
49 years$2,953$1,644$871$444$221$116
50 years$2,861$1,571$819$411$201$104

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,930,000, adding $4,548 every year, while hoping to spend $43,263 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: 68/12/20 Blend
57$2,930,000$2,930,000$2,930,000$2,930,000
58$3,233,551$3,078,261$3,032,846$3,437,090
59$3,517,342$3,183,065$3,088,415$3,678,587
60$3,828,629$3,291,553$3,144,396$3,937,200
61$4,170,172$3,403,862$3,200,756$4,219,048
62$4,545,010$3,520,132$3,257,461$4,526,420
63$4,956,490$3,640,507$3,314,475$4,861,834
64$5,408,299$3,765,139$3,371,757$5,228,065
65$5,904,499$3,894,184$3,429,265$5,628,168
66$6,449,566$4,027,807$3,486,952$6,065,506
67$7,048,427$4,166,175$3,544,771$6,543,786
68$7,706,514$4,309,465$3,602,668$7,067,087
69$8,429,810$4,457,860$3,660,588$7,639,904
70$9,224,904$4,611,548$3,718,472$8,267,189
71$10,099,058$4,770,728$3,776,254$8,954,393
72$11,060,272$4,935,604$3,833,869$9,707,525
73$12,117,360$5,106,389$3,891,244$10,533,200
74$13,280,032$5,283,304$3,948,302$11,438,707
75$14,558,988$5,466,578$4,004,963$12,432,077
76$15,966,016$5,656,452$4,061,141$13,522,156
77$17,514,104$5,853,173$4,116,744$14,718,689
78$19,217,564$6,056,999$4,171,675$16,032,413
79$21,092,162$6,268,198$4,225,833$17,475,156
80$23,155,273$6,487,051$4,279,109$19,059,951
81$25,426,040$6,713,845$4,331,388$20,801,157
82$27,925,557$6,948,885$4,382,550$22,714,591
83$30,677,065$7,192,481$4,432,467$24,817,686
84$33,706,175$7,444,962$4,481,004$27,129,645
85$37,041,106$7,706,666$4,528,019$29,671,628
86$40,712,952$7,977,946$4,573,361$32,466,949
87$44,755,976$8,259,169$4,616,872$35,541,298
88$49,207,934$8,550,716$4,658,385$38,922,981
89$54,110,426$8,852,985$4,697,724$42,643,186
90$59,509,297$9,166,388$4,734,705$46,736,280
91$65,455,060$9,491,355$4,769,132$51,240,131
92$72,003,379$9,828,335$4,800,801$56,196,464
93$79,215,591$10,177,791$4,829,495$61,651,259
94$87,159,287$10,540,208$4,854,989$67,655,179
95$95,908,946$10,916,090$4,877,043$74,264,050
96$105,546,643$11,305,963$4,895,408$81,539,390
97$116,162,816$11,710,371$4,909,820$89,548,986
98$127,857,127$12,129,882$4,920,003$98,367,534
99$140,739,398$12,565,090$4,925,666$108,077,345
100$154,930,646$13,016,610$4,926,506$118,769,121