Can I retire at age 58 with 2,150,000?

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$177,545$175,964$174,421$172,915$171,444$165,559
2 years$87,894$86,257$84,670$83,132$81,640$75,771
3 years$58,014$56,370$54,787$53,263$51,796$46,127
4 years$43,077$41,438$39,871$38,373$36,941$31,516
5 years$34,117$32,488$30,942$29,474$28,082$22,914
6 years$28,145$26,529$25,005$23,571$22,220$17,315
7 years$23,882$22,279$20,780$19,379$18,071$13,427
8 years$20,686$19,097$17,623$16,257$14,992$10,605
9 years$18,201$16,627$15,178$13,847$12,625$8,490
10 years$16,215$14,656$13,233$11,936$10,757$6,868
11 years$14,590$13,048$11,650$10,388$9,252$5,599
12 years$13,238$11,711$10,339$9,112$8,017$4,594
13 years$12,094$10,583$9,237$8,044$6,991$3,788
14 years$11,115$9,620$8,300$7,141$6,128$3,136
15 years$10,267$8,788$7,494$6,368$5,396$2,605
16 years$9,525$8,063$6,794$5,702$4,769$2,169
17 years$8,872$7,425$6,182$5,123$4,229$1,811
18 years$8,292$6,861$5,644$4,617$3,760$1,514
19 years$7,773$6,359$5,166$4,172$3,351$1,268
20 years$7,307$5,909$4,742$3,779$2,993$1,063
21 years$6,886$5,504$4,361$3,429$2,679$892
22 years$6,504$5,138$4,020$3,118$2,401$750
23 years$6,155$4,805$3,711$2,840$2,155$630
24 years$5,836$4,502$3,432$2,590$1,937$530
25 years$5,543$4,225$3,179$2,365$1,743$446
26 years$5,273$3,971$2,948$2,163$1,570$376
27 years$5,023$3,737$2,738$1,980$1,416$316
28 years$4,792$3,522$2,545$1,814$1,277$267
29 years$4,577$3,322$2,369$1,663$1,153$225
30 years$4,376$3,137$2,206$1,526$1,042$189
31 years$4,189$2,966$2,057$1,402$942$160
32 years$4,014$2,806$1,919$1,288$852$135
33 years$3,850$2,658$1,792$1,185$771$114
34 years$3,696$2,519$1,674$1,090$698$96
35 years$3,551$2,389$1,565$1,003$633$81
36 years$3,415$2,268$1,464$924$573$68
37 years$3,286$2,154$1,370$852$519$57
38 years$3,164$2,047$1,283$785$471$48
39 years$3,049$1,946$1,202$724$427$41
40 years$2,939$1,852$1,127$667$387$35
41 years$2,836$1,763$1,057$616$351$29
42 years$2,737$1,679$991$568$319$25
43 years$2,644$1,599$930$525$289$21
44 years$2,555$1,525$873$484$263$17
45 years$2,470$1,454$820$447$238$15
46 years$2,389$1,387$770$413$217$12
47 years$2,311$1,324$723$382$197$11
48 years$2,237$1,264$680$353$179$9
49 years$2,167$1,207$639$326$162$7
50 years$2,099$1,153$601$301$147$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,150,000, adding $4,355 every year, while hoping to spend $49,403 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: 68/21/11 Blend
57$2,150,000$2,150,000$2,150,000$2,150,000
58$2,373,792$2,259,842$2,226,517$2,529,393
59$2,563,355$2,318,010$2,248,541$2,691,516
60$2,770,597$2,377,372$2,269,647$2,862,429
61$2,997,269$2,437,935$2,289,752$3,048,058
62$3,245,301$2,499,704$2,308,769$3,249,839
63$3,516,814$2,562,683$2,326,606$3,469,353
64$3,814,148$2,626,873$2,343,165$3,708,342
65$4,139,876$2,692,274$2,358,346$3,968,724
66$4,496,834$2,758,886$2,372,041$4,252,611
67$4,888,144$2,826,705$2,384,138$4,562,329
68$5,317,246$2,895,725$2,394,518$4,900,442
69$5,787,927$2,965,938$2,403,056$5,269,772
70$6,304,360$3,037,333$2,409,623$5,673,429
71$6,871,141$3,109,898$2,414,081$6,114,838
72$7,493,330$3,183,616$2,416,286$6,597,772
73$8,176,505$3,258,468$2,416,087$7,126,389
74$8,926,808$3,334,432$2,413,325$7,705,269
75$9,751,004$3,411,482$2,407,834$8,339,458
76$10,656,550$3,489,587$2,399,439$9,034,515
77$11,651,655$3,568,715$2,387,958$9,796,567
78$12,745,368$3,648,826$2,373,198$10,632,362
79$13,947,655$3,729,877$2,354,959$11,549,338
80$15,269,496$3,811,821$2,333,031$12,555,688
81$16,722,989$3,894,605$2,307,192$13,660,441
82$18,321,462$3,978,169$2,277,211$14,873,546
83$20,079,601$4,062,449$2,242,847$16,205,966
84$22,013,584$4,147,373$2,203,847$17,669,780
85$24,141,239$4,232,863$2,159,944$19,278,300
86$26,482,205$4,318,834$2,110,862$21,046,195
87$29,058,125$4,405,191$2,056,311$22,989,627
88$31,892,843$4,491,835$1,995,987$25,126,408
89$35,012,631$4,578,653$1,929,571$27,476,167
90$38,446,440$4,665,528$1,856,732$30,060,533
91$42,226,167$4,752,329$1,777,123$32,903,341
92$46,386,959$4,838,916$1,690,379$36,030,857
93$50,967,544$4,925,138$1,596,122$39,472,026
94$56,010,596$5,010,832$1,493,954$43,258,746
95$61,563,136$5,095,822$1,383,461$47,426,168
96$67,676,979$5,179,920$1,264,210$52,013,027
97$74,409,217$5,262,922$1,135,747$57,062,012
98$81,822,763$5,344,611$997,601$62,620,165
99$89,986,940$5,424,753$849,276$68,739,328
100$98,978,138$5,503,096$690,257$75,476,630