Can I retire at age 58 with 2,110,000?

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 $2,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$174,242$172,690$171,176$169,698$168,254$165,808
2 years$86,258$84,652$83,095$81,585$80,121$77,662
3 years$56,934$55,321$53,768$52,273$50,832$48,436
4 years$42,275$40,667$39,129$37,659$36,254$33,940
5 years$33,482$31,883$30,366$28,926$27,560$25,334
6 years$27,622$26,035$24,540$23,132$21,807$19,672
7 years$23,438$21,864$20,393$19,018$17,735$15,692
8 years$20,301$18,742$17,295$15,954$14,713$12,762
9 years$17,862$16,318$14,896$13,589$12,390$10,530
10 years$15,913$14,383$12,987$11,714$10,557$8,786
11 years$14,319$12,805$11,433$10,195$9,080$7,395
12 years$12,991$11,493$10,147$8,942$7,868$6,269
13 years$11,869$10,386$9,065$7,895$6,861$5,346
14 years$10,908$9,441$8,145$7,008$6,014$4,580
15 years$10,076$8,624$7,354$6,250$5,296$3,939
16 years$9,348$7,913$6,668$5,596$4,680$3,399
17 years$8,707$7,287$6,067$5,028$4,150$2,942
18 years$8,137$6,734$5,539$4,531$3,690$2,552
19 years$7,629$6,241$5,070$4,094$3,289$2,219
20 years$7,171$5,799$4,653$3,708$2,938$1,932
21 years$6,758$5,402$4,280$3,365$2,629$1,685
22 years$6,383$5,042$3,945$3,060$2,356$1,471
23 years$6,041$4,716$3,642$2,787$2,115$1,286
24 years$5,728$4,419$3,369$2,542$1,901$1,125
25 years$5,440$4,147$3,120$2,321$1,711$986
26 years$5,175$3,897$2,894$2,122$1,541$864
27 years$4,930$3,668$2,687$1,943$1,389$758
28 years$4,703$3,456$2,498$1,780$1,254$665
29 years$4,492$3,260$2,324$1,632$1,132$584
30 years$4,295$3,079$2,165$1,498$1,023$513
31 years$4,111$2,911$2,019$1,376$925$451
32 years$3,940$2,754$1,883$1,264$837$396
33 years$3,779$2,608$1,758$1,163$757$348
34 years$3,627$2,472$1,643$1,070$685$306
35 years$3,485$2,345$1,536$985$621$269
36 years$3,351$2,225$1,437$907$562$237
37 years$3,225$2,114$1,345$836$510$209
38 years$3,105$2,009$1,260$770$462$184
39 years$2,992$1,910$1,180$710$419$162
40 years$2,885$1,817$1,106$655$380$142
41 years$2,783$1,730$1,037$604$345$125
42 years$2,686$1,647$973$558$313$110
43 years$2,594$1,570$913$515$284$97
44 years$2,507$1,496$857$475$258$85
45 years$2,424$1,427$805$439$234$75
46 years$2,344$1,361$756$406$212$66
47 years$2,268$1,299$710$375$193$58
48 years$2,196$1,240$667$346$175$51
49 years$2,126$1,184$627$320$159$45
50 years$2,060$1,131$590$296$145$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,110,000, adding $2,320 every year, while hoping to spend $30,223 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: 38/36/26 Blend
57$2,110,000$2,110,000$2,110,000$2,110,000
58$2,327,613$2,215,783$2,183,078$2,397,939
59$2,532,873$2,292,199$2,224,054$2,526,011
60$2,758,056$2,371,347$2,265,390$2,661,372
61$3,005,162$2,453,328$2,307,066$2,807,076
62$3,276,396$2,538,249$2,349,060$2,964,082
63$3,574,184$2,626,219$2,391,349$3,133,440
64$3,901,200$2,717,352$2,433,908$3,316,308
65$4,260,389$2,811,769$2,476,710$3,513,955
66$4,654,994$2,909,591$2,519,726$3,727,780
67$5,088,591$3,010,949$2,562,924$3,959,320
68$5,565,117$3,115,974$2,606,271$4,210,264
69$6,088,909$3,224,807$2,649,731$4,482,472
70$6,664,746$3,337,592$2,693,266$4,777,990
71$7,297,895$3,454,478$2,736,835$5,099,068
72$7,994,154$3,575,622$2,780,393$5,448,183
73$8,759,916$3,701,186$2,823,895$5,828,059
74$9,602,223$3,831,338$2,867,290$6,241,697
75$10,528,831$3,966,256$2,910,526$6,692,397
76$11,548,290$4,106,120$2,953,547$7,183,792
77$12,670,017$4,251,122$2,996,292$7,719,883
78$13,904,391$4,401,459$3,038,700$8,305,073
79$15,262,844$4,557,336$3,080,702$8,944,209
80$16,757,976$4,718,967$3,122,227$9,642,630
81$18,403,669$4,886,576$3,163,201$10,406,213
82$20,215,218$5,060,393$3,203,543$11,241,429
83$22,209,478$5,240,660$3,243,170$12,155,404
84$24,405,021$5,427,628$3,281,992$13,155,986
85$26,822,309$5,621,558$3,319,915$14,251,819
86$29,483,892$5,822,722$3,356,840$15,452,421
87$32,414,616$6,031,403$3,392,661$16,768,275
88$35,641,861$6,247,895$3,427,268$18,210,928
89$39,195,794$6,472,505$3,460,545$19,793,099
90$43,109,660$6,705,553$3,492,368$21,528,796
91$47,420,090$6,947,370$3,522,608$23,433,451
92$52,167,453$7,198,304$3,551,128$25,524,060
93$57,396,227$7,458,715$3,577,785$27,819,350
94$63,155,428$7,728,978$3,602,427$30,339,946
95$69,499,069$8,009,486$3,624,896$33,108,573
96$76,486,667$8,300,644$3,645,023$36,150,262
97$84,183,810$8,602,878$3,662,634$39,492,593
98$92,662,769$8,916,629$3,677,543$43,165,948
99$102,003,187$9,242,359$3,689,556$47,203,799
100$112,292,825$9,580,548$3,698,469$51,643,024