Can I retire at age 58 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$179,197$177,600$176,043$174,523$173,039$166,700
2 years$88,711$87,059$85,458$83,905$82,399$76,084
3 years$58,553$56,894$55,297$53,759$52,278$46,184
4 years$43,477$41,823$40,242$38,730$37,285$31,459
5 years$34,434$32,790$31,229$29,749$28,343$22,801
6 years$28,407$26,775$25,238$23,790$22,427$17,173
7 years$24,104$22,486$20,973$19,559$18,239$13,271
8 years$20,878$19,275$17,787$16,408$15,131$10,444
9 years$18,370$16,782$15,320$13,976$12,743$8,331
10 years$16,365$14,793$13,356$12,047$10,857$6,713
11 years$14,726$13,169$11,758$10,485$9,338$5,452
12 years$13,361$11,820$10,435$9,196$8,092$4,456
13 years$12,207$10,682$9,323$8,119$7,056$3,659
14 years$11,218$9,709$8,377$7,207$6,185$3,017
15 years$10,362$8,870$7,563$6,428$5,446$2,495
16 years$9,614$8,138$6,857$5,755$4,813$2,069
17 years$8,954$7,494$6,240$5,171$4,268$1,719
18 years$8,369$6,925$5,696$4,660$3,795$1,431
19 years$7,846$6,418$5,215$4,211$3,382$1,193
20 years$7,375$5,964$4,786$3,814$3,021$996
21 years$6,950$5,555$4,402$3,461$2,704$832
22 years$6,564$5,186$4,057$3,147$2,423$695
23 years$6,212$4,850$3,746$2,866$2,175$582
24 years$5,890$4,544$3,464$2,614$1,955$487
25 years$5,595$4,265$3,209$2,387$1,759$408
26 years$5,322$4,008$2,976$2,183$1,585$342
27 years$5,070$3,772$2,763$1,998$1,429$287
28 years$4,836$3,554$2,569$1,831$1,289$240
29 years$4,619$3,353$2,391$1,679$1,164$201
30 years$4,417$3,167$2,227$1,541$1,052$169
31 years$4,228$2,994$2,076$1,415$951$142
32 years$4,052$2,832$1,937$1,300$860$119
33 years$3,886$2,682$1,808$1,196$779$100
34 years$3,731$2,542$1,690$1,100$705$84
35 years$3,584$2,411$1,580$1,013$638$70
36 years$3,446$2,289$1,478$933$578$59
37 years$3,316$2,174$1,383$859$524$50
38 years$3,193$2,066$1,295$792$475$42
39 years$3,077$1,964$1,214$730$431$35
40 years$2,967$1,869$1,138$674$391$29
41 years$2,862$1,779$1,067$622$355$25
42 years$2,763$1,694$1,001$574$322$21
43 years$2,668$1,614$939$530$292$17
44 years$2,578$1,539$881$489$265$15
45 years$2,493$1,467$827$452$241$12
46 years$2,411$1,400$777$417$219$10
47 years$2,333$1,336$730$385$198$9
48 years$2,258$1,275$686$356$180$7
49 years$2,187$1,218$645$329$164$6
50 years$2,119$1,163$606$304$149$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,170,000, adding $5,237 every year, while hoping to spend $23,216 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: 29/49/22 Blend
57$2,170,000$2,170,000$2,170,000$2,170,000
58$2,396,742$2,281,732$2,248,097$2,449,604
59$2,616,508$2,368,835$2,298,707$2,577,951
60$2,857,912$2,459,428$2,350,233$2,713,428
61$3,123,137$2,553,658$2,402,684$2,858,598
62$3,414,586$2,651,677$2,456,064$3,014,310
63$3,734,910$2,753,645$2,510,378$3,181,493
64$4,087,026$2,859,728$2,565,630$3,361,166
65$4,474,149$2,970,101$2,621,825$3,554,448
66$4,899,821$3,084,945$2,678,965$3,762,565
67$5,367,945$3,204,450$2,737,053$3,986,861
68$5,882,820$3,328,813$2,796,089$4,228,812
69$6,449,184$3,458,241$2,856,074$4,490,040
70$7,072,257$3,592,951$2,917,008$4,772,323
71$7,757,788$3,733,166$2,978,889$5,077,613
72$8,512,114$3,879,123$3,041,714$5,408,058
73$9,342,217$4,031,068$3,105,479$5,766,012
74$10,255,790$4,189,257$3,170,179$6,154,066
75$11,261,308$4,353,957$3,235,807$6,575,065
76$12,368,110$4,525,451$3,302,356$7,032,135
77$13,586,489$4,704,029$3,369,816$7,528,714
78$14,927,782$4,889,997$3,438,176$8,068,580
79$16,404,484$5,083,676$3,507,423$8,655,888
80$18,030,363$5,285,397$3,577,543$9,295,205
81$19,820,589$5,495,511$3,648,520$9,991,555
82$21,791,879$5,714,381$3,720,336$10,750,463
83$23,962,652$5,942,388$3,792,969$11,578,008
84$26,353,207$6,179,929$3,866,397$12,480,875
85$28,985,909$6,427,419$3,940,596$13,466,420
86$31,885,403$6,685,295$4,015,538$14,542,737
87$35,078,848$6,954,008$4,091,192$15,718,731
88$38,596,170$7,234,034$4,167,527$17,004,202
89$42,470,347$7,525,869$4,244,506$18,409,937
90$46,737,716$7,830,031$4,322,091$19,947,806
91$51,438,322$8,147,061$4,400,240$21,630,875
92$56,616,291$8,477,527$4,478,908$23,473,528
93$62,320,247$8,822,020$4,558,046$25,491,597
94$68,603,773$9,181,160$4,637,602$27,702,512
95$75,525,915$9,555,594$4,717,518$30,125,464
96$83,151,739$9,945,999$4,797,736$32,781,581
97$91,552,946$10,353,083$4,878,189$35,694,126
98$100,808,547$10,777,585$4,958,810$38,888,714
99$111,005,612$11,220,279$5,039,522$42,393,552
100$122,240,087$11,681,975$5,120,249$46,239,700