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%15.1%
1 years$180,022$178,419$176,854$175,327$173,836$170,187
2 years$89,120$87,460$85,852$84,292$82,779$79,120
3 years$58,823$57,156$55,552$54,007$52,519$48,963
4 years$43,678$42,016$40,427$38,909$37,457$34,033
5 years$34,593$32,941$31,373$29,886$28,474$25,191
6 years$28,538$26,899$25,354$23,900$22,530$19,393
7 years$24,215$22,590$21,070$19,649$18,323$15,331
8 years$20,974$19,363$17,869$16,483$15,201$12,353
9 years$18,455$16,859$15,390$14,040$12,801$10,096
10 years$16,441$14,861$13,418$12,103$10,907$8,341
11 years$14,794$13,230$11,813$10,533$9,381$6,951
12 years$13,422$11,874$10,483$9,239$8,129$5,832
13 years$12,263$10,731$9,366$8,157$7,089$4,920
14 years$11,270$9,754$8,416$7,240$6,214$4,170
15 years$10,410$8,910$7,598$6,457$5,471$3,548
16 years$9,658$8,175$6,889$5,782$4,836$3,027
17 years$8,996$7,529$6,269$5,195$4,288$2,590
18 years$8,407$6,957$5,722$4,682$3,812$2,221
19 years$7,882$6,448$5,239$4,230$3,398$1,908
20 years$7,409$5,992$4,808$3,831$3,035$1,642
21 years$6,982$5,581$4,422$3,477$2,716$1,414
22 years$6,594$5,210$4,076$3,162$2,435$1,220
23 years$6,241$4,872$3,763$2,879$2,185$1,053
24 years$5,918$4,565$3,480$2,626$1,964$910
25 years$5,620$4,284$3,223$2,398$1,768$787
26 years$5,347$4,026$2,990$2,193$1,592$681
27 years$5,093$3,789$2,776$2,007$1,435$590
28 years$4,859$3,571$2,581$1,839$1,295$511
29 years$4,641$3,369$2,402$1,686$1,170$443
30 years$4,438$3,181$2,237$1,548$1,057$384
31 years$4,248$3,007$2,086$1,421$955$333
32 years$4,070$2,846$1,946$1,306$864$289
33 years$3,904$2,695$1,817$1,201$782$250
34 years$3,748$2,554$1,698$1,105$708$217
35 years$3,601$2,422$1,587$1,017$641$189
36 years$3,462$2,299$1,485$937$581$164
37 years$3,332$2,184$1,390$863$527$142
38 years$3,208$2,075$1,301$796$478$123
39 years$3,091$1,973$1,219$734$433$107
40 years$2,980$1,878$1,143$677$393$93
41 years$2,875$1,787$1,072$624$356$81
42 years$2,775$1,702$1,005$576$323$70
43 years$2,681$1,622$943$532$293$61
44 years$2,590$1,546$885$491$266$53
45 years$2,504$1,474$831$454$242$46
46 years$2,422$1,406$781$419$220$40
47 years$2,344$1,342$734$387$199$35
48 years$2,269$1,281$689$358$181$30
49 years$2,197$1,223$648$331$164$26
50 years$2,128$1,169$609$306$149$23

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 $3,922 every year, while hoping to spend $27,736 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: 65/26/9 Blend
57$2,180,000$2,180,000$2,180,000$2,180,000
58$2,406,406$2,290,866$2,257,076$2,558,129
59$2,622,348$2,373,607$2,303,177$2,742,417
60$2,859,387$2,459,473$2,349,893$2,940,049
61$3,119,645$2,548,588$2,397,215$3,155,257
62$3,405,461$2,641,081$2,445,133$3,389,751
63$3,719,409$2,737,085$2,493,636$3,645,412
64$4,064,327$2,836,741$2,542,712$3,924,309
65$4,443,342$2,940,195$2,592,346$4,228,719
66$4,859,897$3,047,598$2,642,524$4,561,149
67$5,317,785$3,159,109$2,693,227$4,924,359
68$5,821,187$3,274,893$2,744,437$5,321,385
69$6,374,706$3,395,121$2,796,134$5,755,572
70$6,983,417$3,519,973$2,848,296$6,230,599
71$7,652,909$3,649,635$2,900,897$6,750,520
72$8,389,340$3,784,301$2,953,912$7,319,797
73$9,199,496$3,924,175$3,007,311$7,943,342
74$10,090,853$4,069,468$3,061,064$8,626,566
75$11,071,648$4,220,400$3,115,138$9,375,426
76$12,150,958$4,377,201$3,169,496$10,196,482
77$13,338,782$4,540,110$3,224,101$11,096,961
78$14,646,139$4,709,377$3,278,910$12,084,818
79$16,085,171$4,885,263$3,333,879$13,168,818
80$17,669,256$5,068,038$3,388,962$14,358,614
81$19,413,135$5,257,987$3,444,106$15,664,836
82$21,333,050$5,455,403$3,499,259$17,099,195
83$23,446,899$5,660,596$3,554,363$18,674,591
84$25,774,404$5,873,887$3,609,355$20,405,232
85$28,337,296$6,095,610$3,664,171$22,306,768
86$31,159,521$6,326,116$3,718,742$24,396,443
87$34,267,465$6,565,769$3,772,993$26,693,249
88$37,690,205$6,814,949$3,826,846$29,218,110
89$41,459,778$7,074,055$3,880,219$31,994,075
90$45,611,492$7,343,499$3,933,022$35,046,541
91$50,184,248$7,623,715$3,985,162$38,403,482
92$55,220,918$7,915,154$4,036,542$42,095,720
93$60,768,742$8,218,286$4,087,056$46,157,213
94$66,879,775$8,533,603$4,136,593$50,625,373
95$73,611,380$8,861,619$4,185,038$55,541,417
96$81,026,771$9,202,868$4,232,267$60,950,759
97$89,195,603$9,557,910$4,278,149$66,903,436
98$98,194,635$9,927,328$4,322,547$73,454,575
99$108,108,452$10,311,731$4,365,317$80,664,918
100$119,030,264$10,711,756$4,406,305$88,601,392