Can I retire at age 58 with 2,130,000?

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 $2,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$175,893$174,327$172,798$171,306$169,849$164,610
2 years$87,076$85,454$83,883$82,359$80,881$75,648
3 years$57,474$55,845$54,278$52,768$51,314$46,252
4 years$42,676$41,052$39,500$38,016$36,598$31,745
5 years$33,799$32,185$30,654$29,200$27,821$23,191
6 years$27,884$26,282$24,773$23,352$22,014$17,611
7 years$23,660$22,071$20,586$19,199$17,903$13,726
8 years$20,493$18,919$17,459$16,105$14,852$10,899
9 years$18,032$16,473$15,037$13,718$12,508$8,774
10 years$16,064$14,520$13,110$11,825$10,657$7,137
11 years$14,455$12,926$11,542$10,291$9,166$5,853
12 years$13,115$11,602$10,243$9,027$7,943$4,831
13 years$11,982$10,485$9,151$7,969$6,926$4,008
14 years$11,011$9,530$8,223$7,074$6,071$3,339
15 years$10,171$8,706$7,424$6,309$5,346$2,791
16 years$9,437$7,988$6,731$5,649$4,725$2,340
17 years$8,789$7,356$6,125$5,076$4,189$1,966
18 years$8,215$6,798$5,591$4,574$3,725$1,655
19 years$7,701$6,300$5,118$4,133$3,320$1,395
20 years$7,239$5,854$4,697$3,743$2,966$1,178
21 years$6,822$5,453$4,321$3,397$2,654$996
22 years$6,443$5,090$3,982$3,089$2,379$842
23 years$6,098$4,761$3,677$2,813$2,135$713
24 years$5,782$4,460$3,400$2,566$1,919$604
25 years$5,491$4,186$3,150$2,343$1,727$512
26 years$5,224$3,934$2,921$2,143$1,556$434
27 years$4,977$3,702$2,712$1,961$1,403$369
28 years$4,747$3,489$2,522$1,797$1,266$313
29 years$4,534$3,291$2,347$1,648$1,143$266
30 years$4,336$3,108$2,186$1,512$1,033$225
31 years$4,150$2,938$2,038$1,389$934$192
32 years$3,977$2,780$1,901$1,276$844$163
33 years$3,815$2,633$1,775$1,174$764$138
34 years$3,662$2,495$1,659$1,080$692$117
35 years$3,518$2,367$1,551$994$627$100
36 years$3,383$2,247$1,451$916$568$85
37 years$3,255$2,134$1,358$844$515$72
38 years$3,135$2,028$1,271$778$467$61
39 years$3,020$1,928$1,191$717$423$52
40 years$2,912$1,835$1,117$661$384$44
41 years$2,809$1,746$1,047$610$348$38
42 years$2,712$1,663$982$563$316$32
43 years$2,619$1,585$922$520$287$27
44 years$2,531$1,510$865$480$260$23
45 years$2,447$1,440$812$443$236$20
46 years$2,366$1,374$763$409$215$17
47 years$2,290$1,311$717$378$195$14
48 years$2,217$1,252$674$350$177$12
49 years$2,147$1,195$633$323$161$10
50 years$2,080$1,142$595$299$146$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,130,000, adding $6,997 every year, while hoping to spend $22,710 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: 61/22/17 Blend
57$2,130,000$2,130,000$2,130,000$2,130,000
58$2,354,477$2,241,587$2,208,572$2,487,507
59$2,570,471$2,327,262$2,258,396$2,663,698
60$2,807,734$2,416,373$2,309,128$2,852,730
61$3,068,414$2,509,066$2,360,774$3,058,491
62$3,354,873$2,605,491$2,413,341$3,282,607
63$3,669,715$2,705,805$2,466,833$3,526,864
64$4,015,809$2,810,173$2,521,256$3,793,232
65$4,396,317$2,918,767$2,576,613$4,083,873
66$4,814,719$3,031,764$2,632,907$4,401,172
67$5,274,853$3,149,353$2,690,142$4,747,751
68$5,780,944$3,271,728$2,748,318$5,126,495
69$6,337,651$3,399,093$2,807,437$5,540,584
70$6,950,104$3,531,661$2,867,499$5,993,516
71$7,623,957$3,669,655$2,928,503$6,489,142
72$8,365,439$3,813,306$2,990,445$7,031,702
73$9,181,412$3,962,856$3,053,324$7,625,866
74$10,079,440$4,118,560$3,117,134$8,276,775
75$11,067,854$4,280,681$3,181,869$8,990,090
76$12,155,837$4,449,496$3,247,523$9,772,046
77$13,353,504$4,625,293$3,314,087$10,629,509
78$14,672,003$4,808,374$3,381,551$11,570,040
79$16,123,617$4,999,054$3,449,902$12,601,966
80$17,721,880$5,197,662$3,519,128$13,734,459
81$19,481,706$5,404,542$3,589,214$14,977,622
82$21,419,529$5,620,053$3,660,141$16,342,580
83$23,553,456$5,844,571$3,731,891$17,841,591
84$25,903,441$6,078,487$3,804,442$19,488,155
85$28,491,472$6,322,214$3,877,771$21,297,142
86$31,341,778$6,576,178$3,951,852$23,284,934
87$34,481,057$6,840,827$4,026,656$25,469,577
88$37,938,728$7,116,631$4,102,152$27,870,949
89$41,747,210$7,404,078$4,178,306$30,510,952
90$45,942,228$7,703,680$4,255,082$33,413,709
91$50,563,146$8,015,972$4,332,439$36,605,802
92$55,653,345$8,341,513$4,410,333$40,116,511
93$61,260,626$8,680,887$4,488,719$43,978,097
94$67,437,665$9,034,705$4,567,547$48,226,102
95$74,242,509$9,403,607$4,646,761$52,899,684
96$81,739,121$9,788,261$4,726,304$58,041,985
97$89,997,991$10,189,364$4,806,114$63,700,540
98$99,096,791$10,607,649$4,886,125$69,927,720
99$109,121,118$11,043,878$4,966,264$76,781,226
100$120,165,294$11,498,850$5,046,456$84,324,638