Can I retire at age 58 with 2,030,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$167,636$166,142$164,685$163,264$161,875$158,542
2 years$82,988$81,442$79,944$78,492$77,083$73,740
3 years$54,776$53,223$51,729$50,291$48,905$45,656
4 years$40,672$39,125$37,646$36,232$34,879$31,750
5 years$32,213$30,674$29,215$27,829$26,515$23,514
6 years$26,575$25,048$23,610$22,255$20,980$18,111
7 years$22,549$21,035$19,620$18,297$17,063$14,326
8 years$19,531$18,031$16,639$15,349$14,155$11,550
9 years$17,185$15,699$14,331$13,074$11,921$9,445
10 years$15,310$13,838$12,494$11,270$10,157$7,809
11 years$13,776$12,319$11,000$9,808$8,735$6,511
12 years$12,499$11,057$9,762$8,603$7,570$5,467
13 years$11,419$9,992$8,722$7,595$6,601$4,615
14 years$10,494$9,083$7,837$6,742$5,786$3,914
15 years$9,694$8,297$7,075$6,013$5,095$3,332
16 years$8,994$7,613$6,415$5,384$4,503$2,845
17 years$8,377$7,011$5,837$4,837$3,993$2,436
18 years$7,829$6,478$5,329$4,359$3,550$2,091
19 years$7,339$6,004$4,878$3,939$3,164$1,797
20 years$6,899$5,579$4,477$3,568$2,826$1,548
21 years$6,502$5,197$4,118$3,238$2,529$1,334
22 years$6,141$4,851$3,795$2,944$2,267$1,152
23 years$5,812$4,537$3,504$2,681$2,035$995
24 years$5,510$4,251$3,241$2,445$1,829$861
25 years$5,234$3,989$3,002$2,233$1,646$745
26 years$4,979$3,749$2,784$2,042$1,483$645
27 years$4,743$3,529$2,585$1,869$1,337$559
28 years$4,524$3,325$2,403$1,712$1,206$485
29 years$4,321$3,137$2,236$1,570$1,089$420
30 years$4,132$2,962$2,083$1,441$984$365
31 years$3,956$2,800$1,942$1,324$890$316
32 years$3,790$2,650$1,812$1,216$805$275
33 years$3,635$2,509$1,692$1,119$728$239
34 years$3,490$2,378$1,581$1,029$659$207
35 years$3,353$2,256$1,478$947$597$180
36 years$3,224$2,141$1,383$873$541$156
37 years$3,102$2,034$1,294$804$490$136
38 years$2,987$1,933$1,212$741$445$118
39 years$2,878$1,838$1,135$683$403$103
40 years$2,775$1,748$1,064$630$366$89
41 years$2,677$1,664$998$581$332$77
42 years$2,584$1,585$936$537$301$67
43 years$2,496$1,510$878$495$273$59
44 years$2,412$1,440$824$457$248$51
45 years$2,332$1,373$774$422$225$44
46 years$2,255$1,310$727$390$204$38
47 years$2,182$1,250$683$360$186$33
48 years$2,113$1,193$642$333$169$29
49 years$2,046$1,139$603$308$153$25
50 years$1,982$1,088$567$285$139$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,030,000, adding $3,282 every year, while hoping to spend $58,162 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: 75/8/17 Blend
57$2,030,000$2,030,000$2,030,000$2,030,000
58$2,240,445$2,132,855$2,101,390$2,399,630
59$2,407,087$2,175,481$2,109,903$2,548,052
60$2,588,776$2,218,247$2,116,752$2,703,179
61$2,786,988$2,261,097$2,121,819$2,871,660
62$3,003,342$2,303,972$2,124,982$3,054,809
63$3,239,626$2,346,810$2,126,111$3,254,075
64$3,497,803$2,389,539$2,125,071$3,471,052
65$3,780,039$2,432,086$2,121,721$3,707,497
66$4,088,714$2,474,369$2,115,909$3,965,347
67$4,426,452$2,516,303$2,107,482$4,246,734
68$4,796,141$2,557,792$2,096,273$4,554,010
69$5,200,961$2,598,738$2,082,113$4,889,764
70$5,644,415$2,639,032$2,064,819$5,256,851
71$6,130,360$2,678,559$2,044,205$5,658,416
72$6,663,042$2,717,194$2,020,071$6,097,923
73$7,247,141$2,754,805$1,992,212$6,579,194
74$7,887,809$2,791,250$1,960,410$7,106,436
75$8,590,720$2,826,376$1,924,439$7,684,287
76$9,362,127$2,860,022$1,884,061$8,317,860
77$10,208,914$2,892,013$1,839,028$9,012,787
78$11,138,668$2,922,166$1,789,079$9,775,276
79$12,159,742$2,950,282$1,733,943$10,612,169
80$13,281,340$2,976,151$1,673,336$11,531,005
81$14,513,604$2,999,549$1,606,959$12,540,093
82$15,867,701$3,020,236$1,534,502$13,648,593
83$17,355,938$3,037,959$1,455,639$14,866,595
84$18,991,871$3,052,448$1,370,031$16,205,222
85$20,790,438$3,063,413$1,277,322$17,676,733
86$22,768,092$3,070,549$1,177,142$19,294,638
87$24,942,963$3,073,532$1,069,102$21,073,825
88$27,335,025$3,072,015$952,797$23,030,703
89$29,966,286$3,065,633$827,804$25,183,357
90$32,860,993$3,053,994$693,681$27,551,717
91$36,045,862$3,036,687$549,967$30,157,747
92$39,550,328$3,013,274$396,179$33,025,657
93$43,406,825$2,983,288$231,815$36,182,125
94$47,651,090$2,946,237$56,349$39,656,553
95$52,322,497$2,901,599$0$43,481,347
96$57,464,435$2,848,820$0$47,715,964
97$63,124,709$2,787,314$0$52,388,469
98$69,355,996$2,716,459$0$57,532,114
99$76,216,340$2,635,598$0$63,194,818
100$83,769,700$2,544,036$0$69,429,382