Can I retire at age 58 with 2,140,000?

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 $2,140,000?

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$176,719$175,145$173,609$172,110$170,647$167,133
2 years$87,485$85,855$84,276$82,745$81,260$77,736
3 years$57,744$56,107$54,532$53,016$51,555$48,130
4 years$42,876$41,245$39,686$38,195$36,769$33,471
5 years$33,958$32,337$30,798$29,337$27,951$24,788
6 years$28,015$26,405$24,889$23,461$22,117$19,093
7 years$23,771$22,175$20,683$19,289$17,987$15,102
8 years$20,590$19,008$17,541$16,181$14,922$12,176
9 years$18,116$16,550$15,108$13,783$12,567$9,957
10 years$16,139$14,588$13,171$11,881$10,707$8,232
11 years$14,522$12,987$11,596$10,340$9,209$6,864
12 years$13,176$11,656$10,291$9,069$7,980$5,763
13 years$12,038$10,534$9,194$8,007$6,959$4,865
14 years$11,063$9,575$8,261$7,108$6,100$4,126
15 years$10,219$8,747$7,459$6,339$5,371$3,513
16 years$9,481$8,025$6,762$5,676$4,747$3,000
17 years$8,831$7,391$6,154$5,100$4,209$2,568
18 years$8,253$6,829$5,617$4,596$3,742$2,204
19 years$7,737$6,330$5,142$4,153$3,336$1,895
20 years$7,273$5,882$4,719$3,761$2,979$1,631
21 years$6,854$5,479$4,341$3,413$2,666$1,407
22 years$6,473$5,114$4,001$3,104$2,390$1,214
23 years$6,127$4,783$3,694$2,826$2,145$1,049
24 years$5,809$4,481$3,416$2,578$1,928$908
25 years$5,517$4,206$3,164$2,354$1,735$785
26 years$5,248$3,953$2,935$2,153$1,563$680
27 years$5,000$3,720$2,725$1,970$1,409$589
28 years$4,770$3,505$2,533$1,805$1,271$511
29 years$4,556$3,307$2,358$1,655$1,148$443
30 years$4,356$3,123$2,196$1,519$1,037$384
31 years$4,170$2,952$2,047$1,395$938$334
32 years$3,996$2,793$1,910$1,282$848$290
33 years$3,832$2,645$1,783$1,179$768$251
34 years$3,679$2,507$1,666$1,085$695$218
35 years$3,535$2,378$1,558$999$630$190
36 years$3,399$2,257$1,457$920$570$165
37 years$3,271$2,144$1,364$848$517$143
38 years$3,149$2,037$1,277$781$469$124
39 years$3,034$1,937$1,197$720$425$108
40 years$2,926$1,843$1,122$664$386$94
41 years$2,823$1,754$1,052$613$350$82
42 years$2,725$1,671$987$566$317$71
43 years$2,631$1,592$926$522$288$62
44 years$2,543$1,518$869$482$261$54
45 years$2,458$1,447$816$445$237$47
46 years$2,377$1,381$766$411$216$41
47 years$2,301$1,317$720$380$196$35
48 years$2,227$1,258$677$351$178$31
49 years$2,157$1,201$636$325$161$27
50 years$2,089$1,147$598$300$147$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,140,000, adding $2,399 every year, while hoping to spend $47,594 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: 60/16/24 Blend
57$2,140,000$2,140,000$2,140,000$2,140,000
58$2,360,755$2,247,335$2,214,165$2,487,134
59$2,550,912$2,306,814$2,237,699$2,632,781
60$2,758,870$2,367,613$2,260,428$2,786,248
61$2,986,395$2,429,746$2,282,272$2,952,661
62$3,235,429$2,493,226$2,303,150$3,133,286
63$3,508,115$2,558,066$2,322,978$3,329,522
64$3,806,809$2,624,278$2,341,664$3,542,905
65$4,134,107$2,691,871$2,359,113$3,775,131
66$4,492,868$2,760,854$2,375,225$4,028,066
67$4,886,240$2,831,236$2,389,895$4,303,769
68$5,317,692$2,903,022$2,403,012$4,604,505
69$5,791,044$2,976,217$2,414,460$4,932,772
70$6,310,502$3,050,824$2,424,116$5,291,322
71$6,880,702$3,126,842$2,431,852$5,683,189
72$7,506,747$3,204,271$2,437,533$6,111,713
73$8,194,261$3,283,107$2,441,017$6,580,578
74$8,949,440$3,363,343$2,442,155$7,093,841
75$9,779,107$3,444,971$2,440,791$7,655,974
76$10,690,780$3,527,978$2,436,761$8,271,907
77$11,692,740$3,612,351$2,429,894$8,947,069
78$12,794,114$3,698,069$2,420,009$9,687,447
79$14,004,951$3,785,113$2,406,917$10,499,637
80$15,336,328$3,873,455$2,390,421$11,390,908
81$16,800,446$3,963,067$2,370,313$12,369,271
82$18,410,748$4,053,914$2,346,375$13,443,556
83$20,182,046$4,145,957$2,318,379$14,623,494
84$22,130,658$4,239,152$2,286,088$15,919,807
85$24,274,565$4,333,450$2,249,252$17,344,315
86$26,633,577$4,428,797$2,207,609$18,910,044
87$29,229,524$4,525,129$2,160,886$20,631,347
88$32,086,455$4,622,381$2,108,796$22,524,045
89$35,230,873$4,720,477$2,051,040$24,605,575
90$38,691,977$4,819,335$1,987,304$26,895,152
91$42,501,941$4,918,865$1,917,261$29,413,954
92$46,696,218$5,018,968$1,840,569$32,185,320
93$51,313,872$5,119,538$1,756,868$35,234,974
94$56,397,949$5,220,456$1,665,784$38,591,263
95$61,995,878$5,321,597$1,566,926$42,285,433
96$68,159,924$5,422,822$1,459,885$46,351,914
97$74,947,677$5,523,981$1,344,232$50,828,656
98$82,422,597$5,624,914$1,219,521$55,757,481
99$90,654,613$5,725,445$1,085,285$61,184,479
100$99,720,779$5,825,387$941,038$67,160,448