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%13.5%
1 years$179,197$177,600$176,043$174,523$173,039$170,523
2 years$88,711$87,059$85,458$83,905$82,399$79,870
3 years$58,553$56,894$55,297$53,759$52,278$49,814
4 years$43,477$41,823$40,242$38,730$37,285$34,905
5 years$34,434$32,790$31,229$29,749$28,343$26,054
6 years$28,407$26,775$25,238$23,790$22,427$20,232
7 years$24,104$22,486$20,973$19,559$18,239$16,138
8 years$20,878$19,275$17,787$16,408$15,131$13,125
9 years$18,370$16,782$15,320$13,976$12,743$10,829
10 years$16,365$14,793$13,356$12,047$10,857$9,036
11 years$14,726$13,169$11,758$10,485$9,338$7,606
12 years$13,361$11,820$10,435$9,196$8,092$6,448
13 years$12,207$10,682$9,323$8,119$7,056$5,498
14 years$11,218$9,709$8,377$7,207$6,185$4,710
15 years$10,362$8,870$7,563$6,428$5,446$4,051
16 years$9,614$8,138$6,857$5,755$4,813$3,496
17 years$8,954$7,494$6,240$5,171$4,268$3,026
18 years$8,369$6,925$5,696$4,660$3,795$2,625
19 years$7,846$6,418$5,215$4,211$3,382$2,282
20 years$7,375$5,964$4,786$3,814$3,021$1,987
21 years$6,950$5,555$4,402$3,461$2,704$1,733
22 years$6,564$5,186$4,057$3,147$2,423$1,513
23 years$6,212$4,850$3,746$2,866$2,175$1,323
24 years$5,890$4,544$3,464$2,614$1,955$1,158
25 years$5,595$4,265$3,209$2,387$1,759$1,014
26 years$5,322$4,008$2,976$2,183$1,585$889
27 years$5,070$3,772$2,763$1,998$1,429$779
28 years$4,836$3,554$2,569$1,831$1,289$684
29 years$4,619$3,353$2,391$1,679$1,164$600
30 years$4,417$3,167$2,227$1,541$1,052$527
31 years$4,228$2,994$2,076$1,415$951$463
32 years$4,052$2,832$1,937$1,300$860$407
33 years$3,886$2,682$1,808$1,196$779$358
34 years$3,731$2,542$1,690$1,100$705$315
35 years$3,584$2,411$1,580$1,013$638$277
36 years$3,446$2,289$1,478$933$578$244
37 years$3,316$2,174$1,383$859$524$214
38 years$3,193$2,066$1,295$792$475$189
39 years$3,077$1,964$1,214$730$431$166
40 years$2,967$1,869$1,138$674$391$146
41 years$2,862$1,779$1,067$622$355$129
42 years$2,763$1,694$1,001$574$322$113
43 years$2,668$1,614$939$530$292$100
44 years$2,578$1,539$881$489$265$88
45 years$2,493$1,467$827$452$241$77
46 years$2,411$1,400$777$417$219$68
47 years$2,333$1,336$730$385$198$60
48 years$2,258$1,275$686$356$180$53
49 years$2,187$1,218$645$329$164$47
50 years$2,119$1,163$606$304$149$41

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 $3,485 every year, while hoping to spend $34,415 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: 25/46/29 Blend
57$2,170,000$2,170,000$2,170,000$2,170,000
58$2,394,935$2,279,925$2,246,290$2,432,999
59$2,602,601$2,355,024$2,284,923$2,540,350
60$2,830,295$2,432,649$2,323,697$2,652,225
61$3,080,025$2,512,889$2,362,581$2,771,467
62$3,354,000$2,595,832$2,401,539$2,898,718
63$3,654,654$2,681,574$2,440,537$3,034,684
64$3,984,669$2,770,212$2,479,536$3,180,138
65$4,346,999$2,861,846$2,518,494$3,335,931
66$4,744,897$2,956,581$2,557,368$3,502,997
67$5,181,948$3,054,524$2,596,111$3,682,360
68$5,662,100$3,155,789$2,634,673$3,875,150
69$6,189,702$3,260,491$2,673,003$4,082,603
70$6,769,547$3,368,750$2,711,044$4,306,082
71$7,406,913$3,480,691$2,748,736$4,547,083
72$8,107,617$3,596,445$2,786,018$4,807,253
73$8,878,067$3,716,143$2,822,823$5,088,402
74$9,725,323$3,839,927$2,859,080$5,392,521
75$10,657,162$3,967,939$2,894,715$5,721,800
76$11,682,153$4,100,329$2,929,649$6,078,649
77$12,809,740$4,237,252$2,963,799$6,465,718
78$14,050,325$4,378,869$2,997,078$6,885,925
79$15,415,370$4,525,346$3,029,392$7,342,481
80$16,917,504$4,676,855$3,060,644$7,838,919
81$18,570,645$4,833,575$3,090,730$8,379,128
82$20,390,123$4,995,693$3,119,542$8,967,390
83$22,392,835$5,163,401$3,146,966$9,608,418
84$24,597,395$5,336,899$3,172,880$10,307,401
85$27,024,316$5,516,393$3,197,158$11,070,052
86$29,696,199$5,702,099$3,219,666$11,902,662
87$32,637,949$5,894,240$3,240,263$12,812,157
88$35,877,009$6,093,047$3,258,801$13,806,165
89$39,443,618$6,298,761$3,275,125$14,893,087
90$43,371,096$6,511,629$3,289,071$16,082,174
91$47,696,161$6,731,912$3,300,467$17,383,614
92$52,459,270$6,959,876$3,309,133$18,808,630
93$57,705,006$7,195,801$3,314,880$20,369,581
94$63,482,497$7,439,975$3,317,509$22,080,083
95$69,845,877$7,692,699$3,316,810$23,955,131
96$76,854,798$7,954,283$3,312,565$26,011,245
97$84,574,996$8,225,051$3,304,544$28,266,621
98$93,078,905$8,505,339$3,292,507$30,741,307
99$102,446,347$8,795,494$3,276,199$33,457,384
100$112,765,280$9,095,879$3,255,357$36,439,182