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

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 $2,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$176,719$175,145$173,609$172,110$170,647$169,856
2 years$87,485$85,855$84,276$82,745$81,260$80,462
3 years$57,744$56,107$54,532$53,016$51,555$50,774
4 years$42,876$41,245$39,686$38,195$36,769$36,012
5 years$33,958$32,337$30,798$29,337$27,951$27,220
6 years$28,015$26,405$24,889$23,461$22,117$21,412
7 years$23,771$22,175$20,683$19,289$17,987$17,309
8 years$20,590$19,008$17,541$16,181$14,922$14,270
9 years$18,116$16,550$15,108$13,783$12,567$11,942
10 years$16,139$14,588$13,171$11,881$10,707$10,109
11 years$14,522$12,987$11,596$10,340$9,209$8,636
12 years$13,176$11,656$10,291$9,069$7,980$7,433
13 years$12,038$10,534$9,194$8,007$6,959$6,437
14 years$11,063$9,575$8,261$7,108$6,100$5,603
15 years$10,219$8,747$7,459$6,339$5,371$4,898
16 years$9,481$8,025$6,762$5,676$4,747$4,297
17 years$8,831$7,391$6,154$5,100$4,209$3,781
18 years$8,253$6,829$5,617$4,596$3,742$3,337
19 years$7,737$6,330$5,142$4,153$3,336$2,951
20 years$7,273$5,882$4,719$3,761$2,979$2,615
21 years$6,854$5,479$4,341$3,413$2,666$2,322
22 years$6,473$5,114$4,001$3,104$2,390$2,065
23 years$6,127$4,783$3,694$2,826$2,145$1,838
24 years$5,809$4,481$3,416$2,578$1,928$1,639
25 years$5,517$4,206$3,164$2,354$1,735$1,462
26 years$5,248$3,953$2,935$2,153$1,563$1,306
27 years$5,000$3,720$2,725$1,970$1,409$1,167
28 years$4,770$3,505$2,533$1,805$1,271$1,044
29 years$4,556$3,307$2,358$1,655$1,148$935
30 years$4,356$3,123$2,196$1,519$1,037$837
31 years$4,170$2,952$2,047$1,395$938$750
32 years$3,996$2,793$1,910$1,282$848$673
33 years$3,832$2,645$1,783$1,179$768$603
34 years$3,679$2,507$1,666$1,085$695$541
35 years$3,535$2,378$1,558$999$630$486
36 years$3,399$2,257$1,457$920$570$436
37 years$3,271$2,144$1,364$848$517$392
38 years$3,149$2,037$1,277$781$469$352
39 years$3,034$1,937$1,197$720$425$316
40 years$2,926$1,843$1,122$664$386$284
41 years$2,823$1,754$1,052$613$350$255
42 years$2,725$1,671$987$566$317$229
43 years$2,631$1,592$926$522$288$206
44 years$2,543$1,518$869$482$261$185
45 years$2,458$1,447$816$445$237$167
46 years$2,377$1,381$766$411$216$150
47 years$2,301$1,317$720$380$196$135
48 years$2,227$1,258$677$351$178$121
49 years$2,157$1,201$636$325$161$109
50 years$2,089$1,147$598$300$147$98

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 $4,293 every year, while hoping to spend $41,986 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: 32/50/18 Blend
57$2,140,000$2,140,000$2,140,000$2,140,000
58$2,362,708$2,249,288$2,216,118$2,424,922
59$2,559,032$2,314,831$2,245,685$2,537,132
60$2,773,973$2,382,177$2,274,836$2,653,764
61$3,009,387$2,451,372$2,303,511$2,778,500
62$3,267,315$2,522,461$2,331,650$2,912,071
63$3,550,008$2,595,488$2,359,187$3,055,283
64$3,859,943$2,670,501$2,386,054$3,209,021
65$4,199,848$2,747,546$2,412,177$3,374,259
66$4,572,728$2,826,672$2,437,481$3,552,067
67$4,981,893$2,907,926$2,461,884$3,743,623
68$5,430,990$2,991,358$2,485,301$3,950,223
69$5,924,035$3,077,018$2,507,642$4,173,292
70$6,465,451$3,164,956$2,528,812$4,414,400
71$7,060,112$3,255,224$2,548,713$4,675,275
72$7,713,387$3,347,874$2,567,238$4,957,815
73$8,431,190$3,442,958$2,584,278$5,264,116
74$9,220,037$3,540,528$2,599,717$5,596,480
75$10,087,105$3,640,638$2,613,432$5,957,443
76$11,040,303$3,743,343$2,625,295$6,349,801
77$12,088,343$3,848,696$2,635,172$6,776,627
78$13,240,824$3,956,752$2,642,920$7,241,310
79$14,508,321$4,067,566$2,648,391$7,747,580
80$15,902,487$4,181,193$2,651,428$8,299,546
81$17,436,158$4,297,689$2,651,869$8,901,735
82$19,123,480$4,417,109$2,649,540$9,559,130
83$20,980,036$4,539,509$2,644,261$10,277,225
84$23,022,999$4,664,945$2,635,844$11,062,067
85$25,271,289$4,793,471$2,624,088$11,920,323
86$27,745,753$4,925,143$2,608,788$12,859,332
87$30,469,361$5,060,017$2,589,723$13,887,185
88$33,467,424$5,198,145$2,566,667$15,012,793
89$36,767,830$5,339,583$2,539,379$16,245,975
90$40,401,309$5,484,383$2,507,609$17,597,548
91$44,401,723$5,632,598$2,471,094$19,079,432
92$48,806,382$5,784,279$2,429,559$20,704,761
93$53,656,401$5,939,477$2,382,717$22,488,006
94$58,997,083$6,098,240$2,330,267$24,445,113
95$64,878,347$6,260,615$2,271,893$26,593,652
96$71,355,203$6,426,650$2,207,265$28,952,984
97$78,488,264$6,596,387$2,136,040$31,544,444
98$86,344,326$6,769,868$2,057,855$34,391,541
99$94,996,988$6,947,133$1,972,335$37,520,180
100$104,527,357$7,128,218$1,879,084$40,958,908