Can I retire at age 58 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$170,939$169,416$167,930$166,481$165,065$159,398
2 years$84,623$83,047$81,520$80,039$78,602$72,951
3 years$55,855$54,272$52,749$51,282$49,868$44,410
4 years$41,474$39,896$38,387$36,945$35,567$30,343
5 years$32,847$31,279$29,790$28,378$27,037$22,062
6 years$27,098$25,541$24,075$22,694$21,394$16,670
7 years$22,993$21,450$20,006$18,658$17,399$12,927
8 years$19,916$18,386$16,967$15,652$14,434$10,210
9 years$17,524$16,009$14,614$13,332$12,155$8,174
10 years$15,611$14,111$12,741$11,492$10,357$6,612
11 years$14,047$12,562$11,217$10,002$8,907$5,391
12 years$12,745$11,275$9,954$8,773$7,719$4,423
13 years$11,644$10,189$8,894$7,745$6,731$3,647
14 years$10,701$9,262$7,991$6,875$5,900$3,020
15 years$9,885$8,461$7,215$6,131$5,195$2,508
16 years$9,171$7,763$6,541$5,490$4,592$2,089
17 years$8,542$7,149$5,952$4,933$4,071$1,743
18 years$7,983$6,606$5,434$4,445$3,620$1,458
19 years$7,484$6,122$4,974$4,017$3,226$1,221
20 years$7,035$5,689$4,565$3,638$2,882$1,024
21 years$6,630$5,299$4,199$3,302$2,579$859
22 years$6,262$4,947$3,870$3,002$2,312$722
23 years$5,926$4,627$3,573$2,734$2,075$607
24 years$5,619$4,335$3,305$2,494$1,865$510
25 years$5,337$4,068$3,061$2,277$1,678$430
26 years$5,077$3,823$2,839$2,082$1,512$362
27 years$4,836$3,598$2,636$1,906$1,363$305
28 years$4,614$3,391$2,451$1,746$1,230$257
29 years$4,407$3,199$2,280$1,601$1,111$216
30 years$4,214$3,021$2,124$1,470$1,003$182
31 years$4,034$2,856$1,980$1,350$907$154
32 years$3,865$2,702$1,848$1,240$821$130
33 years$3,707$2,559$1,725$1,141$743$109
34 years$3,559$2,425$1,612$1,050$672$92
35 years$3,419$2,300$1,507$966$609$78
36 years$3,288$2,183$1,410$890$552$66
37 years$3,164$2,074$1,320$820$500$55
38 years$3,046$1,971$1,236$756$453$47
39 years$2,935$1,874$1,158$697$411$39
40 years$2,830$1,783$1,085$643$373$33
41 years$2,730$1,697$1,017$593$338$28
42 years$2,635$1,616$954$547$307$24
43 years$2,545$1,540$896$505$279$20
44 years$2,459$1,468$841$466$253$17
45 years$2,378$1,400$789$431$230$14
46 years$2,300$1,335$741$398$208$12
47 years$2,225$1,274$697$368$189$10
48 years$2,154$1,217$655$340$172$9
49 years$2,086$1,162$615$314$156$7
50 years$2,021$1,110$578$290$142$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,070,000, adding $6,266 every year, while hoping to spend $27,864 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: 35/40/25 Blend
57$2,070,000$2,070,000$2,070,000$2,070,000
58$2,287,603$2,177,893$2,145,808$2,350,184
59$2,491,292$2,254,963$2,188,046$2,474,298
60$2,714,823$2,334,875$2,230,764$2,605,142
61$2,960,190$2,417,740$2,273,951$2,745,770
62$3,229,592$2,503,671$2,317,590$2,897,073
63$3,525,447$2,592,788$2,361,667$3,060,032
64$3,850,423$2,685,215$2,406,162$3,235,721
65$4,207,455$2,781,080$2,451,058$3,425,323
66$4,599,780$2,880,517$2,496,333$3,630,136
67$5,030,962$2,983,667$2,541,965$3,851,588
68$5,504,928$3,090,674$2,587,928$4,091,249
69$6,026,003$3,201,689$2,634,196$4,350,843
70$6,598,954$3,316,872$2,680,741$4,632,268
71$7,229,034$3,436,384$2,727,531$4,937,610
72$7,922,026$3,560,398$2,774,534$5,269,164
73$8,684,305$3,689,090$2,821,714$5,629,454
74$9,522,896$3,822,647$2,869,033$6,021,256
75$10,445,536$3,961,261$2,916,450$6,447,627
76$11,460,751$4,105,133$2,963,922$6,911,927
77$12,577,936$4,254,473$3,011,402$7,417,857
78$13,807,442$4,409,499$3,058,840$7,969,487
79$15,160,673$4,570,437$3,106,184$8,571,297
80$16,650,198$4,737,524$3,153,377$9,228,221
81$18,289,864$4,911,008$3,200,360$9,945,687
82$20,094,927$5,091,145$3,247,070$10,729,672
83$22,082,201$5,278,202$3,293,438$11,586,755
84$24,270,211$5,472,460$3,339,394$12,524,180
85$26,679,371$5,674,208$3,384,861$13,549,923
86$29,332,173$5,883,751$3,429,760$14,672,767
87$32,253,403$6,101,403$3,474,006$15,902,381
88$35,470,373$6,327,495$3,517,508$17,249,417
89$39,013,179$6,562,370$3,560,172$18,725,600
90$42,914,983$6,806,386$3,601,898$20,343,846
91$47,212,328$7,059,916$3,642,578$22,118,380
92$51,945,483$7,323,349$3,682,102$24,064,867
93$57,158,821$7,597,092$3,720,352$26,200,562
94$62,901,239$7,881,568$3,757,201$28,544,470
95$69,226,618$8,177,217$3,792,521$31,117,525
96$76,194,334$8,484,502$3,826,171$33,942,786
97$83,869,815$8,803,901$3,858,006$37,045,651
98$92,325,160$9,135,916$3,887,873$40,454,102
99$101,639,820$9,481,070$3,915,611$44,198,958
100$111,901,346$9,839,907$3,941,048$48,314,175