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

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 $2,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$165,158$163,687$162,252$160,851$159,483$156,327
2 years$81,761$80,239$78,763$77,332$75,944$72,778
3 years$53,966$52,437$50,965$49,547$48,182$45,104
4 years$40,071$38,547$37,089$35,696$34,364$31,398
5 years$31,737$30,221$28,783$27,418$26,123$23,278
6 years$26,182$24,678$23,261$21,926$20,670$17,949
7 years$22,216$20,724$19,330$18,027$16,810$14,213
8 years$19,243$17,765$16,393$15,122$13,946$11,472
9 years$16,931$15,467$14,120$12,881$11,744$9,393
10 years$15,083$13,634$12,310$11,103$10,007$7,775
11 years$13,572$12,137$10,837$9,663$8,606$6,491
12 years$12,314$10,894$9,618$8,476$7,458$5,457
13 years$11,250$9,845$8,593$7,483$6,503$4,613
14 years$10,339$8,949$7,721$6,643$5,701$3,918
15 years$9,550$8,175$6,971$5,924$5,020$3,340
16 years$8,861$7,500$6,320$5,304$4,436$2,856
17 years$8,253$6,907$5,751$4,766$3,934$2,449
18 years$7,713$6,383$5,250$4,295$3,497$2,105
19 years$7,231$5,915$4,806$3,881$3,117$1,812
20 years$6,797$5,497$4,411$3,515$2,785$1,563
21 years$6,406$5,120$4,057$3,190$2,492$1,349
22 years$6,050$4,779$3,739$2,900$2,234$1,167
23 years$5,726$4,470$3,452$2,642$2,005$1,010
24 years$5,429$4,188$3,193$2,409$1,802$875
25 years$5,156$3,930$2,957$2,200$1,622$758
26 years$4,905$3,694$2,743$2,012$1,461$658
27 years$4,673$3,476$2,547$1,841$1,317$571
28 years$4,458$3,276$2,368$1,687$1,188$496
29 years$4,258$3,090$2,203$1,547$1,073$431
30 years$4,071$2,919$2,052$1,420$970$374
31 years$3,897$2,759$1,913$1,304$877$325
32 years$3,734$2,611$1,785$1,198$793$283
33 years$3,582$2,472$1,667$1,102$718$246
34 years$3,438$2,343$1,557$1,014$650$214
35 years$3,304$2,222$1,456$933$588$186
36 years$3,176$2,109$1,362$860$533$162
37 years$3,057$2,003$1,275$792$483$141
38 years$2,943$1,904$1,194$730$438$123
39 years$2,836$1,811$1,119$673$397$107
40 years$2,734$1,723$1,048$621$360$93
41 years$2,638$1,640$983$573$327$81
42 years$2,546$1,562$922$529$297$70
43 years$2,459$1,488$865$488$269$61
44 years$2,376$1,418$812$451$244$53
45 years$2,297$1,352$763$416$222$47
46 years$2,222$1,290$716$384$201$41
47 years$2,150$1,231$673$355$183$35
48 years$2,081$1,175$632$328$166$31
49 years$2,016$1,122$594$303$151$27
50 years$1,953$1,072$559$280$137$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,000,000, adding $5,745 every year, while hoping to spend $35,230 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: 35/41/24 Blend
57$2,000,000$2,000,000$2,000,000$2,000,000
58$2,209,926$2,103,926$2,072,926$2,271,036
59$2,397,854$2,169,534$2,104,885$2,382,435
60$2,603,770$2,237,176$2,136,733$2,498,924
61$2,829,471$2,306,914$2,168,430$2,623,911
62$3,076,938$2,378,814$2,199,933$2,758,176
63$3,348,350$2,452,940$2,231,196$2,902,578
64$3,646,110$2,529,362$2,262,169$3,058,060
65$3,972,862$2,608,150$2,292,800$3,225,660
66$4,331,521$2,689,376$2,323,036$3,406,520
67$4,725,296$2,773,115$2,352,818$3,601,895
68$5,157,722$2,859,444$2,382,083$3,813,167
69$5,632,696$2,948,443$2,410,769$4,041,856
70$6,154,506$3,040,192$2,438,805$4,289,636
71$6,727,880$3,134,776$2,466,120$4,558,347
72$7,358,026$3,232,282$2,492,636$4,850,017
73$8,050,679$3,332,798$2,518,274$5,166,876
74$8,812,159$3,436,417$2,542,948$5,511,381
75$9,649,431$3,543,232$2,566,568$5,886,236
76$10,570,165$3,653,343$2,589,040$6,294,418
77$11,582,814$3,766,848$2,610,264$6,739,206
78$12,696,689$3,883,852$2,630,136$7,224,211
79$13,922,050$4,004,460$2,648,545$7,753,407
80$15,270,204$4,128,783$2,665,376$8,331,175
81$16,753,604$4,256,932$2,680,505$8,962,335
82$18,385,974$4,389,025$2,693,805$9,652,200
83$20,182,437$4,525,181$2,705,141$10,406,621
84$22,159,654$4,665,523$2,714,371$11,232,041
85$24,335,983$4,810,177$2,721,347$12,135,559
86$26,731,652$4,959,276$2,725,911$13,124,996
87$29,368,952$5,112,952$2,727,901$14,208,965
88$32,272,443$5,271,344$2,727,143$15,396,956
89$35,469,188$5,434,595$2,723,458$16,699,424
90$38,989,006$5,602,852$2,716,655$18,127,887
91$42,864,758$5,776,265$2,706,536$19,695,035
92$47,132,651$5,954,989$2,692,893$21,414,848
93$51,832,583$6,139,185$2,675,507$23,302,730
94$57,008,519$6,329,018$2,654,149$25,375,653
95$62,708,905$6,524,656$2,628,579$27,652,314
96$68,987,123$6,726,274$2,598,546$30,153,318
97$75,902,000$6,934,052$2,563,788$32,901,365
98$83,518,357$7,148,174$2,524,028$35,921,468
99$91,907,625$7,368,830$2,478,978$39,241,189
100$101,148,515$7,596,215$2,428,337$42,890,897