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%12.1%
1 years$170,939$169,416$167,930$166,481$165,065$163,613
2 years$84,623$83,047$81,520$80,039$78,602$77,140
3 years$55,855$54,272$52,749$51,282$49,868$48,440
4 years$41,474$39,896$38,387$36,945$35,567$34,183
5 years$32,847$31,279$29,790$28,378$27,037$25,703
6 years$27,098$25,541$24,075$22,694$21,394$20,111
7 years$22,993$21,450$20,006$18,658$17,399$16,167
8 years$19,916$18,386$16,967$15,652$14,434$13,254
9 years$17,524$16,009$14,614$13,332$12,155$11,026
10 years$15,611$14,111$12,741$11,492$10,357$9,278
11 years$14,047$12,562$11,217$10,002$8,907$7,878
12 years$12,745$11,275$9,954$8,773$7,719$6,739
13 years$11,644$10,189$8,894$7,745$6,731$5,798
14 years$10,701$9,262$7,991$6,875$5,900$5,014
15 years$9,885$8,461$7,215$6,131$5,195$4,354
16 years$9,171$7,763$6,541$5,490$4,592$3,794
17 years$8,542$7,149$5,952$4,933$4,071$3,316
18 years$7,983$6,606$5,434$4,445$3,620$2,905
19 years$7,484$6,122$4,974$4,017$3,226$2,551
20 years$7,035$5,689$4,565$3,638$2,882$2,245
21 years$6,630$5,299$4,199$3,302$2,579$1,978
22 years$6,262$4,947$3,870$3,002$2,312$1,746
23 years$5,926$4,627$3,573$2,734$2,075$1,543
24 years$5,619$4,335$3,305$2,494$1,865$1,365
25 years$5,337$4,068$3,061$2,277$1,678$1,208
26 years$5,077$3,823$2,839$2,082$1,512$1,071
27 years$4,836$3,598$2,636$1,906$1,363$950
28 years$4,614$3,391$2,451$1,746$1,230$843
29 years$4,407$3,199$2,280$1,601$1,111$748
30 years$4,214$3,021$2,124$1,470$1,003$665
31 years$4,034$2,856$1,980$1,350$907$591
32 years$3,865$2,702$1,848$1,240$821$526
33 years$3,707$2,559$1,725$1,141$743$467
34 years$3,559$2,425$1,612$1,050$672$416
35 years$3,419$2,300$1,507$966$609$370
36 years$3,288$2,183$1,410$890$552$330
37 years$3,164$2,074$1,320$820$500$293
38 years$3,046$1,971$1,236$756$453$261
39 years$2,935$1,874$1,158$697$411$233
40 years$2,830$1,783$1,085$643$373$207
41 years$2,730$1,697$1,017$593$338$185
42 years$2,635$1,616$954$547$307$165
43 years$2,545$1,540$896$505$279$147
44 years$2,459$1,468$841$466$253$131
45 years$2,378$1,400$789$431$230$117
46 years$2,300$1,335$741$398$208$104
47 years$2,225$1,274$697$368$189$93
48 years$2,154$1,217$655$340$172$83
49 years$2,086$1,162$615$314$156$74
50 years$2,021$1,110$578$290$142$66

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 $2,801 every year, while hoping to spend $23,099 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: 50/30/20 Blend
57$2,070,000$2,070,000$2,070,000$2,070,000
58$2,284,029$2,174,319$2,142,234$2,385,349
59$2,492,423$2,256,284$2,189,422$2,537,710
60$2,721,299$2,341,490$2,237,416$2,700,612
61$2,972,721$2,430,073$2,286,220$2,877,168
62$3,248,965$2,522,173$2,335,834$3,068,678
63$3,552,537$2,617,937$2,386,262$3,276,567
64$3,886,196$2,717,516$2,437,502$3,502,405
65$4,252,984$2,821,070$2,489,554$3,747,919
66$4,656,252$2,928,766$2,542,418$4,015,006
67$5,099,691$3,040,778$2,596,091$4,305,755
68$5,587,369$3,157,285$2,650,569$4,622,463
69$6,123,767$3,278,479$2,705,850$4,967,659
70$6,713,822$3,404,555$2,761,926$5,344,122
71$7,362,973$3,535,719$2,818,792$5,754,915
72$8,077,215$3,672,188$2,876,440$6,203,406
73$8,863,151$3,814,185$2,934,861$6,693,303
74$9,728,057$3,961,944$2,994,043$7,228,685
75$10,679,950$4,115,711$3,053,975$7,814,046
76$11,727,665$4,275,742$3,114,644$8,454,331
77$12,880,936$4,442,301$3,176,033$9,154,984
78$14,150,487$4,615,670$3,238,125$9,921,998
79$15,548,136$4,796,138$3,300,903$10,761,973
80$17,086,907$4,984,009$3,364,343$11,682,176
81$18,781,147$5,179,601$3,428,424$12,690,608
82$20,646,668$5,383,245$3,493,120$13,796,080
83$22,700,892$5,595,288$3,558,404$15,008,296
84$24,963,017$5,816,091$3,624,245$16,337,941
85$27,454,198$6,046,033$3,690,610$17,796,784
86$30,197,746$6,285,508$3,757,465$19,397,786
87$33,219,346$6,534,929$3,824,771$21,155,222
88$36,547,305$6,794,726$3,892,486$23,084,816
89$40,212,813$7,065,350$3,960,567$25,203,887
90$44,250,240$7,347,272$4,028,966$27,531,510
91$48,697,459$7,640,983$4,097,631$30,088,698
92$53,596,206$7,946,998$4,166,508$32,898,599
93$58,992,471$8,265,852$4,235,538$35,986,709
94$64,936,933$8,598,109$4,304,658$39,381,116
95$71,485,437$8,944,353$4,373,801$43,112,763
96$78,699,525$9,305,200$4,442,897$47,215,737
97$86,647,010$9,681,288$4,511,867$51,727,589
98$95,402,623$10,073,290$4,580,633$56,689,691
99$105,048,714$10,481,904$4,649,107$62,147,619
100$115,676,029$10,907,863$4,717,199$68,151,588