Can I retire at age 58 with 2,160,000?

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 $2,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$178,371$176,782$175,232$173,719$172,241$170,372
2 years$88,302$86,658$85,064$83,519$82,020$80,137
3 years$58,283$56,632$55,042$53,511$52,037$50,200
4 years$43,277$41,630$40,057$38,552$37,113$35,336
5 years$34,275$32,639$31,085$29,611$28,213$26,500
6 years$28,276$26,652$25,122$23,681$22,324$20,679
7 years$23,993$22,382$20,876$19,469$18,155$16,578
8 years$20,782$19,186$17,705$16,332$15,061$13,552
9 years$18,286$16,705$15,249$13,911$12,684$11,241
10 years$16,290$14,724$13,294$11,992$10,807$9,431
11 years$14,658$13,108$11,704$10,436$9,295$7,983
12 years$13,299$11,765$10,387$9,154$8,055$6,806
13 years$12,150$10,632$9,280$8,082$7,024$5,838
14 years$11,166$9,664$8,338$7,174$6,157$5,031
15 years$10,314$8,829$7,528$6,398$5,421$4,354
16 years$9,570$8,100$6,826$5,729$4,791$3,781
17 years$8,913$7,460$6,211$5,147$4,248$3,293
18 years$8,330$6,893$5,670$4,639$3,777$2,875
19 years$7,809$6,389$5,191$4,191$3,367$2,516
20 years$7,341$5,937$4,764$3,796$3,007$2,205
21 years$6,918$5,530$4,382$3,445$2,691$1,936
22 years$6,534$5,162$4,038$3,133$2,412$1,702
23 years$6,184$4,828$3,729$2,853$2,165$1,499
24 years$5,863$4,523$3,448$2,602$1,946$1,321
25 years$5,569$4,245$3,194$2,376$1,751$1,165
26 years$5,297$3,990$2,962$2,173$1,578$1,028
27 years$5,047$3,755$2,751$1,989$1,422$908
28 years$4,814$3,538$2,557$1,822$1,283$803
29 years$4,598$3,338$2,380$1,671$1,159$710
30 years$4,397$3,152$2,216$1,533$1,047$628
31 years$4,209$2,980$2,066$1,408$947$556
32 years$4,033$2,819$1,928$1,294$856$492
33 years$3,868$2,670$1,800$1,190$775$436
34 years$3,713$2,531$1,682$1,095$702$387
35 years$3,568$2,400$1,573$1,008$636$343
36 years$3,431$2,278$1,471$928$576$304
37 years$3,301$2,164$1,377$855$522$269
38 years$3,179$2,056$1,289$788$473$239
39 years$3,063$1,955$1,208$727$429$212
40 years$2,953$1,860$1,132$671$389$188
41 years$2,849$1,771$1,062$619$353$167
42 years$2,750$1,687$996$571$320$148
43 years$2,656$1,607$935$527$291$131
44 years$2,566$1,532$877$487$264$117
45 years$2,481$1,461$824$449$240$103
46 years$2,400$1,393$774$415$218$92
47 years$2,322$1,330$727$384$198$81
48 years$2,248$1,269$683$354$179$72
49 years$2,177$1,212$642$328$163$64
50 years$2,109$1,158$604$303$148$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,160,000, adding $6,162 every year, while hoping to spend $20,166 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: 84/10/6 Blend
57$2,160,000$2,160,000$2,160,000$2,160,000
58$2,386,676$2,272,196$2,238,716$2,585,886
59$2,608,661$2,362,077$2,292,257$2,806,696
60$2,852,612$2,455,687$2,346,915$3,045,788
61$3,120,749$2,553,186$2,402,707$3,307,749
62$3,415,516$2,654,743$2,459,649$3,594,861
63$3,739,608$2,760,535$2,517,757$3,909,636
64$4,095,993$2,870,746$2,577,046$4,254,842
65$4,487,939$2,985,568$2,637,532$4,633,528
66$4,919,050$3,105,202$2,699,231$5,049,050
67$5,393,295$3,229,858$2,762,156$5,505,105
68$5,915,046$3,359,756$2,826,324$6,005,765
69$6,489,122$3,495,125$2,891,747$6,555,515
70$7,120,833$3,636,207$2,958,441$7,159,298
71$7,816,027$3,783,250$3,026,418$7,822,553
72$8,581,150$3,936,518$3,095,691$8,551,277
73$9,423,305$4,096,284$3,166,274$9,352,072
74$10,350,315$4,262,836$3,238,178$10,232,214
75$11,370,805$4,436,473$3,311,415$11,199,717
76$12,494,275$4,617,507$3,385,994$12,263,408
77$13,731,193$4,806,267$3,461,928$13,433,014
78$15,093,096$5,003,096$3,539,223$14,719,250
79$16,592,694$5,208,350$3,617,890$16,133,921
80$18,243,995$5,422,405$3,697,935$17,690,031
81$20,062,432$5,645,653$3,779,366$19,401,910
82$22,065,013$5,878,502$3,862,187$21,285,345
83$24,270,478$6,121,382$3,946,403$23,357,727
84$26,699,477$6,374,740$4,032,018$25,638,221
85$29,374,766$6,639,045$4,119,034$28,147,940
86$32,321,421$6,914,787$4,207,450$30,910,148
87$35,567,074$7,202,480$4,297,268$33,950,477
88$39,142,172$7,502,658$4,388,483$37,297,168
89$43,080,269$7,815,884$4,481,092$40,981,340
90$47,418,338$8,142,744$4,575,091$45,037,279
91$52,197,123$8,483,852$4,670,470$49,502,764
92$57,461,520$8,839,851$4,767,222$54,419,424
93$63,261,005$9,211,414$4,865,333$59,833,126
94$69,650,097$9,599,243$4,964,792$65,794,411
95$76,688,875$10,004,074$5,065,581$72,358,969
96$84,443,545$10,426,678$5,167,682$79,588,165
97$92,987,061$10,867,860$5,271,074$87,549,616
98$102,399,820$11,328,464$5,375,733$96,317,829
99$112,770,414$11,809,372$5,481,634$105,974,905
100$124,196,473$12,311,507$5,588,744$116,611,311