Can I retire at age 58 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$247,737$245,530$243,378$241,276$239,224$236,726
2 years$122,642$120,358$118,144$115,998$113,916$111,400
3 years$80,949$78,655$76,447$74,321$72,273$69,818
4 years$60,107$57,820$55,634$53,544$51,546$49,170
5 years$47,605$45,332$43,174$41,127$39,184$36,895
6 years$39,273$37,017$34,891$32,890$31,005$28,805
7 years$33,324$31,087$28,995$27,040$25,216$23,105
8 years$28,864$26,647$24,590$22,684$20,919$18,898
9 years$25,397$23,201$21,179$19,321$17,617$15,685
10 years$22,625$20,450$18,465$16,655$15,010$13,167
11 years$20,359$18,206$16,256$14,495$12,909$11,153
12 years$18,471$16,341$14,427$12,714$11,187$9,515
13 years$16,875$14,767$12,889$11,225$9,755$8,166
14 years$15,509$13,423$11,581$9,964$8,551$7,043
15 years$14,326$12,262$10,456$8,886$7,529$6,099
16 years$13,291$11,250$9,480$7,957$6,654$5,300
17 years$12,379$10,361$8,626$7,149$5,900$4,619
18 years$11,570$9,574$7,875$6,443$5,246$4,036
19 years$10,846$8,873$7,209$5,821$4,676$3,534
20 years$10,196$8,245$6,616$5,272$4,177$3,100
21 years$9,608$7,680$6,086$4,785$3,738$2,724
22 years$9,075$7,169$5,609$4,351$3,350$2,397
23 years$8,589$6,705$5,179$3,962$3,007$2,111
24 years$8,143$6,282$4,789$3,614$2,703$1,862
25 years$7,734$5,896$4,436$3,300$2,432$1,644
26 years$7,358$5,541$4,114$3,018$2,191$1,452
27 years$7,009$5,215$3,820$2,762$1,975$1,284
28 years$6,686$4,914$3,551$2,531$1,782$1,136
29 years$6,386$4,636$3,305$2,321$1,610$1,005
30 years$6,107$4,378$3,078$2,130$1,454$890
31 years$5,846$4,139$2,870$1,956$1,315$789
32 years$5,601$3,916$2,678$1,798$1,189$699
33 years$5,373$3,708$2,500$1,653$1,076$620
34 years$5,158$3,515$2,336$1,521$975$549
35 years$4,955$3,334$2,184$1,400$883$487
36 years$4,765$3,164$2,043$1,290$800$432
37 years$4,585$3,005$1,912$1,188$725$384
38 years$4,415$2,856$1,791$1,095$657$341
39 years$4,254$2,716$1,678$1,010$596$302
40 years$4,101$2,584$1,573$931$541$269
41 years$3,957$2,460$1,475$859$490$238
42 years$3,819$2,342$1,383$793$445$212
43 years$3,689$2,232$1,298$732$404$188
44 years$3,564$2,127$1,218$676$367$167
45 years$3,446$2,029$1,144$624$333$148
46 years$3,333$1,935$1,074$577$302$132
47 years$3,225$1,847$1,009$533$274$117
48 years$3,122$1,763$949$492$249$104
49 years$3,023$1,684$892$455$226$92
50 years$2,929$1,608$838$421$206$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $3,000,000, adding $4,727 every year, while hoping to spend $32,596 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: 34/46/20 Blend
57$3,000,000$3,000,000$3,000,000$3,000,000
58$3,310,876$3,151,876$3,105,376$3,402,995
59$3,613,903$3,271,636$3,174,724$3,591,185
60$3,946,747$3,396,172$3,245,303$3,790,647
61$4,312,414$3,525,683$3,317,119$4,005,066
62$4,714,217$3,660,378$3,390,179$4,235,784
63$5,155,804$3,800,474$3,464,488$4,484,276
64$5,641,197$3,946,197$3,540,048$4,752,158
65$6,174,824$4,097,786$3,616,865$5,041,205
66$6,761,564$4,255,486$3,694,939$5,353,364
67$7,406,796$4,419,557$3,774,271$5,690,774
68$8,116,440$4,590,266$3,854,860$6,055,785
69$8,897,024$4,767,897$3,936,705$6,450,978
70$9,755,738$4,952,741$4,019,802$6,879,187
71$10,700,504$5,145,106$4,104,147$7,343,528
72$11,740,052$5,345,312$4,189,731$7,847,425
73$12,883,998$5,553,693$4,276,548$8,394,640
74$14,142,940$5,770,598$4,364,587$8,989,311
75$15,528,554$5,996,392$4,453,835$9,635,987
76$17,053,707$6,231,456$4,544,279$10,339,668
77$18,732,574$6,476,187$4,635,902$11,105,855
78$20,580,777$6,731,000$4,728,684$11,940,598
79$22,615,527$6,996,330$4,822,606$12,850,549
80$24,855,790$7,272,629$4,917,643$13,843,031
81$27,322,465$7,560,372$5,013,768$14,926,095
82$30,038,579$7,860,052$5,110,951$16,108,602
83$33,029,507$8,172,188$5,209,161$17,400,303
84$36,323,210$8,497,319$5,308,361$18,811,928
85$39,950,498$8,836,008$5,408,513$20,355,285
86$43,945,323$9,188,847$5,509,572$22,043,370
87$48,345,097$9,556,451$5,611,493$23,890,489
88$53,191,043$9,939,464$5,714,225$25,912,389
89$58,528,591$10,338,559$5,817,713$28,126,403
90$64,407,799$10,754,439$5,921,897$30,551,616
91$70,883,828$11,187,841$6,026,715$33,209,036
92$78,017,465$11,639,532$6,132,097$36,121,797
93$85,875,693$12,110,315$6,237,968$39,315,368
94$94,532,324$12,601,031$6,344,251$42,817,794
95$104,068,697$13,112,558$6,450,859$46,659,956
96$114,574,444$13,645,812$6,557,702$50,875,864
97$126,148,334$14,201,755$6,664,682$55,502,966
98$138,899,212$14,781,388$6,771,697$60,582,508
99$152,947,017$15,385,761$6,878,634$66,159,912
100$168,423,921$16,015,972$6,985,376$72,285,205