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

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$177,545$175,964$174,421$172,915$171,444$168,327
2 years$87,894$86,257$84,670$83,132$81,640$78,511
3 years$58,014$56,370$54,787$53,263$51,796$48,752
4 years$43,077$41,438$39,871$38,373$36,941$34,006
5 years$34,117$32,488$30,942$29,474$28,082$25,264
6 years$28,145$26,529$25,005$23,571$22,220$19,523
7 years$23,882$22,279$20,780$19,379$18,071$15,494
8 years$20,686$19,097$17,623$16,257$14,992$12,535
9 years$18,201$16,627$15,178$13,847$12,625$10,288
10 years$16,215$14,656$13,233$11,936$10,757$8,537
11 years$14,590$13,048$11,650$10,388$9,252$7,145
12 years$13,238$11,711$10,339$9,112$8,017$6,023
13 years$12,094$10,583$9,237$8,044$6,991$5,105
14 years$11,115$9,620$8,300$7,141$6,128$4,347
15 years$10,267$8,788$7,494$6,368$5,396$3,716
16 years$9,525$8,063$6,794$5,702$4,769$3,187
17 years$8,872$7,425$6,182$5,123$4,229$2,740
18 years$8,292$6,861$5,644$4,617$3,760$2,362
19 years$7,773$6,359$5,166$4,172$3,351$2,039
20 years$7,307$5,909$4,742$3,779$2,993$1,764
21 years$6,886$5,504$4,361$3,429$2,679$1,528
22 years$6,504$5,138$4,020$3,118$2,401$1,325
23 years$6,155$4,805$3,711$2,840$2,155$1,150
24 years$5,836$4,502$3,432$2,590$1,937$1,000
25 years$5,543$4,225$3,179$2,365$1,743$869
26 years$5,273$3,971$2,948$2,163$1,570$756
27 years$5,023$3,737$2,738$1,980$1,416$659
28 years$4,792$3,522$2,545$1,814$1,277$574
29 years$4,577$3,322$2,369$1,663$1,153$500
30 years$4,376$3,137$2,206$1,526$1,042$436
31 years$4,189$2,966$2,057$1,402$942$380
32 years$4,014$2,806$1,919$1,288$852$332
33 years$3,850$2,658$1,792$1,185$771$289
34 years$3,696$2,519$1,674$1,090$698$253
35 years$3,551$2,389$1,565$1,003$633$221
36 years$3,415$2,268$1,464$924$573$193
37 years$3,286$2,154$1,370$852$519$168
38 years$3,164$2,047$1,283$785$471$147
39 years$3,049$1,946$1,202$724$427$128
40 years$2,939$1,852$1,127$667$387$112
41 years$2,836$1,763$1,057$616$351$98
42 years$2,737$1,679$991$568$319$86
43 years$2,644$1,599$930$525$289$75
44 years$2,555$1,525$873$484$263$65
45 years$2,470$1,454$820$447$238$57
46 years$2,389$1,387$770$413$217$50
47 years$2,311$1,324$723$382$197$44
48 years$2,237$1,264$680$353$179$38
49 years$2,167$1,207$639$326$162$33
50 years$2,099$1,153$601$301$147$29

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 $4,209 every year, while hoping to spend $44,542 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: 59/33/8 Blend
57$2,150,000$2,150,000$2,150,000$2,150,000
58$2,373,642$2,259,692$2,226,367$2,509,265
59$2,568,361$2,323,024$2,253,558$2,664,128
60$2,781,448$2,387,967$2,280,166$2,827,472
61$3,014,731$2,454,552$2,306,127$3,004,466
62$3,270,220$2,522,812$2,331,369$3,196,422
63$3,550,131$2,592,778$2,355,818$3,404,785
64$3,856,902$2,664,482$2,379,396$3,631,146
65$4,193,221$2,737,956$2,402,020$3,877,257
66$4,562,046$2,813,233$2,423,605$4,145,045
67$4,966,636$2,890,343$2,444,057$4,436,632
68$5,410,582$2,969,319$2,463,281$4,754,356
69$5,897,836$3,050,190$2,481,176$5,100,790
70$6,432,755$3,132,989$2,497,635$5,478,768
71$7,020,135$3,217,745$2,512,545$5,891,410
72$7,665,262$3,304,488$2,525,789$6,342,152
73$8,373,959$3,393,247$2,537,243$6,834,782
74$9,152,637$3,484,051$2,546,775$7,373,467
75$10,008,364$3,576,927$2,554,250$7,962,800
76$10,948,923$3,671,902$2,559,523$8,607,840
77$11,982,889$3,769,002$2,562,443$9,314,158
78$13,119,711$3,868,250$2,562,852$10,087,894
79$14,369,798$3,969,671$2,560,584$10,935,810
80$15,744,618$4,073,285$2,555,464$11,865,354
81$17,256,806$4,179,113$2,547,309$12,884,735
82$18,920,283$4,287,173$2,535,927$14,002,995
83$20,750,389$4,397,481$2,521,118$15,230,095
84$22,764,023$4,510,052$2,502,670$16,577,011
85$24,979,807$4,624,898$2,480,362$18,055,837
86$27,418,256$4,742,027$2,453,964$19,679,896
87$30,101,979$4,861,447$2,423,232$21,463,870
88$33,055,883$4,983,160$2,387,913$23,423,934
89$36,307,416$5,107,168$2,347,741$25,577,912
90$39,886,820$5,233,467$2,302,438$27,945,444
91$43,827,419$5,362,050$2,251,713$30,548,169
92$48,165,932$5,492,907$2,195,261$33,409,932
93$52,942,818$5,626,021$2,132,763$36,557,009
94$58,202,662$5,761,372$2,063,887$40,018,353
95$63,994,590$5,898,935$1,988,283$43,825,867
96$70,372,734$6,038,679$1,905,588$48,014,707
97$77,396,747$6,180,568$1,815,418$52,623,614
98$85,132,357$6,324,558$1,717,377$57,695,276
99$93,651,996$6,470,600$1,611,047$63,276,734
100$103,035,476$6,618,636$1,495,994$69,419,826