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

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$179,197$177,600$176,043$174,523$173,039$169,545
2 years$88,711$87,059$85,458$83,905$82,399$78,895
3 years$58,553$56,894$55,297$53,759$52,278$48,872
4 years$43,477$41,823$40,242$38,730$37,285$34,003
5 years$34,434$32,790$31,229$29,749$28,343$25,196
6 years$28,407$26,775$25,238$23,790$22,427$19,417
7 years$24,104$22,486$20,973$19,559$18,239$15,368
8 years$20,878$19,275$17,787$16,408$15,131$12,397
9 years$18,370$16,782$15,320$13,976$12,743$10,144
10 years$16,365$14,793$13,356$12,047$10,857$8,391
11 years$14,726$13,169$11,758$10,485$9,338$7,002
12 years$13,361$11,820$10,435$9,196$8,092$5,882
13 years$12,207$10,682$9,323$8,119$7,056$4,969
14 years$11,218$9,709$8,377$7,207$6,185$4,217
15 years$10,362$8,870$7,563$6,428$5,446$3,593
16 years$9,614$8,138$6,857$5,755$4,813$3,070
17 years$8,954$7,494$6,240$5,171$4,268$2,631
18 years$8,369$6,925$5,696$4,660$3,795$2,259
19 years$7,846$6,418$5,215$4,211$3,382$1,943
20 years$7,375$5,964$4,786$3,814$3,021$1,675
21 years$6,950$5,555$4,402$3,461$2,704$1,445
22 years$6,564$5,186$4,057$3,147$2,423$1,248
23 years$6,212$4,850$3,746$2,866$2,175$1,080
24 years$5,890$4,544$3,464$2,614$1,955$934
25 years$5,595$4,265$3,209$2,387$1,759$809
26 years$5,322$4,008$2,976$2,183$1,585$702
27 years$5,070$3,772$2,763$1,998$1,429$608
28 years$4,836$3,554$2,569$1,831$1,289$528
29 years$4,619$3,353$2,391$1,679$1,164$458
30 years$4,417$3,167$2,227$1,541$1,052$398
31 years$4,228$2,994$2,076$1,415$951$346
32 years$4,052$2,832$1,937$1,300$860$300
33 years$3,886$2,682$1,808$1,196$779$261
34 years$3,731$2,542$1,690$1,100$705$227
35 years$3,584$2,411$1,580$1,013$638$197
36 years$3,446$2,289$1,478$933$578$171
37 years$3,316$2,174$1,383$859$524$149
38 years$3,193$2,066$1,295$792$475$130
39 years$3,077$1,964$1,214$730$431$113
40 years$2,967$1,869$1,138$674$391$98
41 years$2,862$1,779$1,067$622$355$85
42 years$2,763$1,694$1,001$574$322$74
43 years$2,668$1,614$939$530$292$65
44 years$2,578$1,539$881$489$265$56
45 years$2,493$1,467$827$452$241$49
46 years$2,411$1,400$777$417$219$43
47 years$2,333$1,336$730$385$198$37
48 years$2,258$1,275$686$356$180$32
49 years$2,187$1,218$645$329$164$28
50 years$2,119$1,163$606$304$149$24

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 $4,998 every year, while hoping to spend $53,577 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: 44/32/24 Blend
57$2,170,000$2,170,000$2,170,000$2,170,000
58$2,396,495$2,281,485$2,247,850$2,485,065
59$2,583,932$2,336,273$2,266,148$2,603,143
60$2,788,692$2,391,949$2,283,263$2,725,485
61$3,012,486$2,448,501$2,299,099$2,857,036
62$3,257,195$2,505,913$2,313,554$2,998,680
63$3,524,894$2,564,168$2,326,524$3,151,389
64$3,817,866$2,623,245$2,337,895$3,316,236
65$4,138,624$2,683,120$2,347,550$3,494,402
66$4,489,936$2,743,765$2,355,365$3,687,191
67$4,874,851$2,805,151$2,361,211$3,896,037
68$5,296,726$2,867,244$2,364,952$4,122,525
69$5,759,258$2,930,005$2,366,444$4,368,398
70$6,266,520$2,993,393$2,365,538$4,635,581
71$6,822,997$3,057,361$2,362,075$4,926,193
72$7,433,630$3,121,858$2,355,892$5,242,572
73$8,103,859$3,186,829$2,346,813$5,587,294
74$8,839,680$3,252,211$2,334,659$5,963,202
75$9,647,695$3,317,937$2,319,238$6,373,426
76$10,535,179$3,383,934$2,300,351$6,821,421
77$11,510,143$3,450,123$2,277,789$7,310,993
78$12,581,416$3,516,418$2,251,333$7,846,338
79$13,758,721$3,582,723$2,220,753$8,432,084
80$15,052,773$3,648,939$2,185,811$9,073,333
81$16,475,374$3,714,955$2,146,253$9,775,709
82$18,039,527$3,780,653$2,101,818$10,545,411
83$19,759,560$3,845,905$2,052,230$11,389,276
84$21,651,256$3,910,576$1,997,200$12,314,840
85$23,732,005$3,974,516$1,936,428$13,330,411
86$26,020,970$4,037,567$1,869,599$14,445,148
87$28,539,260$4,099,559$1,796,381$15,669,150
88$31,310,137$4,160,309$1,716,432$17,013,548
89$34,359,229$4,219,622$1,629,391$18,490,615
90$37,714,775$4,277,289$1,534,880$20,113,880
91$41,407,891$4,333,085$1,432,507$21,898,257
92$45,472,860$4,386,770$1,321,861$23,860,188
93$49,947,459$4,438,089$1,202,510$26,017,797
94$54,873,312$4,486,768$1,074,007$28,391,065
95$60,296,286$4,532,515$935,882$31,002,017
96$66,266,918$4,575,020$787,645$33,874,933
97$72,840,898$4,613,950$628,786$37,036,577
98$80,079,589$4,648,953$458,769$40,516,453
99$88,050,608$4,679,652$277,038$44,347,082
100$96,828,461$4,705,647$83,011$48,564,313