Can I retire at age 58 with 2,180,000?

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 $2,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$180,022$178,419$176,854$175,327$173,836$170,396
2 years$89,120$87,460$85,852$84,292$82,779$79,328
3 years$58,823$57,156$55,552$54,007$52,519$49,164
4 years$43,678$42,016$40,427$38,909$37,457$34,224
5 years$34,593$32,941$31,373$29,886$28,474$25,373
6 years$28,538$26,899$25,354$23,900$22,530$19,564
7 years$24,215$22,590$21,070$19,649$18,323$15,492
8 years$20,974$19,363$17,869$16,483$15,201$12,505
9 years$18,455$16,859$15,390$14,040$12,801$10,238
10 years$16,441$14,861$13,418$12,103$10,907$8,475
11 years$14,794$13,230$11,813$10,533$9,381$7,076
12 years$13,422$11,874$10,483$9,239$8,129$5,948
13 years$12,263$10,731$9,366$8,157$7,089$5,029
14 years$11,270$9,754$8,416$7,240$6,214$4,270
15 years$10,410$8,910$7,598$6,457$5,471$3,640
16 years$9,658$8,175$6,889$5,782$4,836$3,113
17 years$8,996$7,529$6,269$5,195$4,288$2,669
18 years$8,407$6,957$5,722$4,682$3,812$2,294
19 years$7,882$6,448$5,239$4,230$3,398$1,975
20 years$7,409$5,992$4,808$3,831$3,035$1,703
21 years$6,982$5,581$4,422$3,477$2,716$1,471
22 years$6,594$5,210$4,076$3,162$2,435$1,272
23 years$6,241$4,872$3,763$2,879$2,185$1,101
24 years$5,918$4,565$3,480$2,626$1,964$953
25 years$5,620$4,284$3,223$2,398$1,768$826
26 years$5,347$4,026$2,990$2,193$1,592$717
27 years$5,093$3,789$2,776$2,007$1,435$622
28 years$4,859$3,571$2,581$1,839$1,295$540
29 years$4,641$3,369$2,402$1,686$1,170$469
30 years$4,438$3,181$2,237$1,548$1,057$408
31 years$4,248$3,007$2,086$1,421$955$354
32 years$4,070$2,846$1,946$1,306$864$308
33 years$3,904$2,695$1,817$1,201$782$268
34 years$3,748$2,554$1,698$1,105$708$233
35 years$3,601$2,422$1,587$1,017$641$203
36 years$3,462$2,299$1,485$937$581$177
37 years$3,332$2,184$1,390$863$527$154
38 years$3,208$2,075$1,301$796$478$134
39 years$3,091$1,973$1,219$734$433$116
40 years$2,980$1,878$1,143$677$393$101
41 years$2,875$1,787$1,072$624$356$88
42 years$2,775$1,702$1,005$576$323$77
43 years$2,681$1,622$943$532$293$67
44 years$2,590$1,546$885$491$266$58
45 years$2,504$1,474$831$454$242$51
46 years$2,422$1,406$781$419$220$44
47 years$2,344$1,342$734$387$199$38
48 years$2,269$1,281$689$358$181$34
49 years$2,197$1,223$648$331$164$29
50 years$2,128$1,169$609$306$149$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,180,000, adding $5,085 every year, while hoping to spend $40,688 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: 58/37/5 Blend
57$2,180,000$2,180,000$2,180,000$2,180,000
58$2,407,605$2,292,065$2,258,275$2,544,746
59$2,609,889$2,361,085$2,290,636$2,706,332
60$2,831,442$2,432,122$2,322,717$2,877,277
61$3,074,188$2,505,234$2,354,466$3,062,559
62$3,340,242$2,580,478$2,385,827$3,263,549
63$3,631,937$2,657,912$2,416,743$3,481,759
64$3,951,841$2,737,596$2,447,150$3,718,850
65$4,302,783$2,819,592$2,476,984$3,976,651
66$4,687,878$2,903,964$2,506,174$4,257,173
67$5,110,559$2,990,775$2,534,648$4,562,633
68$5,574,605$3,080,092$2,562,328$4,895,468
69$6,084,181$3,171,984$2,589,133$5,258,362
70$6,643,875$3,266,518$2,614,976$5,654,270
71$7,258,739$3,363,766$2,639,767$6,086,444
72$7,934,341$3,463,801$2,663,409$6,558,467
73$8,676,814$3,566,697$2,685,803$7,074,281
74$9,492,913$3,672,530$2,706,842$7,638,229
75$10,390,083$3,781,377$2,726,414$8,255,094
76$11,376,525$3,893,317$2,744,402$8,930,142
77$12,461,273$4,008,433$2,760,682$9,669,173
78$13,654,282$4,126,805$2,775,125$10,478,575
79$14,966,520$4,248,520$2,787,593$11,365,385
80$16,410,071$4,373,663$2,797,942$12,337,351
81$17,998,248$4,502,322$2,806,023$13,403,011
82$19,745,721$4,634,588$2,811,677$14,571,768
83$21,668,654$4,770,552$2,814,737$15,853,979
84$23,784,855$4,910,307$2,815,029$17,261,055
85$26,113,947$5,053,949$2,812,370$18,805,566
86$28,677,553$5,201,576$2,806,567$20,501,359
87$31,499,496$5,353,285$2,797,420$22,363,692
88$34,606,027$5,509,179$2,784,716$24,409,369
89$38,026,072$5,669,359$2,768,234$26,656,909
90$41,791,504$5,833,931$2,747,743$29,126,712
91$45,937,444$6,002,999$2,722,998$31,841,254
92$50,502,590$6,176,673$2,693,746$34,825,300
93$55,529,586$6,355,062$2,659,719$38,106,134
94$61,065,422$6,538,278$2,620,637$41,713,820
95$67,161,875$6,726,434$2,576,208$45,681,481
96$73,876,001$6,919,644$2,526,126$50,045,614
97$81,270,672$7,118,026$2,470,071$54,846,432
98$89,415,168$7,321,696$2,407,705$60,128,246
99$98,385,832$7,530,776$2,338,680$65,939,879
100$108,266,788$7,745,385$2,262,627$72,335,130