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%17.5%
1 years$180,022$178,419$176,854$175,327$173,836$168,542
2 years$89,120$87,460$85,852$84,292$82,779$77,490
3 years$58,823$57,156$55,552$54,007$52,519$47,401
4 years$43,678$42,016$40,427$38,909$37,457$32,550
5 years$34,593$32,941$31,373$29,886$28,474$23,792
6 years$28,538$26,899$25,354$23,900$22,530$18,077
7 years$24,215$22,590$21,070$19,649$18,323$14,098
8 years$20,974$19,363$17,869$16,483$15,201$11,201
9 years$18,455$16,859$15,390$14,040$12,801$9,022
10 years$16,441$14,861$13,418$12,103$10,907$7,344
11 years$14,794$13,230$11,813$10,533$9,381$6,027
12 years$13,422$11,874$10,483$9,239$8,129$4,978
13 years$12,263$10,731$9,366$8,157$7,089$4,132
14 years$11,270$9,754$8,416$7,240$6,214$3,445
15 years$10,410$8,910$7,598$6,457$5,471$2,882
16 years$9,658$8,175$6,889$5,782$4,836$2,417
17 years$8,996$7,529$6,269$5,195$4,288$2,033
18 years$8,407$6,957$5,722$4,682$3,812$1,712
19 years$7,882$6,448$5,239$4,230$3,398$1,445
20 years$7,409$5,992$4,808$3,831$3,035$1,221
21 years$6,982$5,581$4,422$3,477$2,716$1,033
22 years$6,594$5,210$4,076$3,162$2,435$874
23 years$6,241$4,872$3,763$2,879$2,185$741
24 years$5,918$4,565$3,480$2,626$1,964$628
25 years$5,620$4,284$3,223$2,398$1,768$533
26 years$5,347$4,026$2,990$2,193$1,592$452
27 years$5,093$3,789$2,776$2,007$1,435$384
28 years$4,859$3,571$2,581$1,839$1,295$326
29 years$4,641$3,369$2,402$1,686$1,170$277
30 years$4,438$3,181$2,237$1,548$1,057$236
31 years$4,248$3,007$2,086$1,421$955$200
32 years$4,070$2,846$1,946$1,306$864$170
33 years$3,904$2,695$1,817$1,201$782$145
34 years$3,748$2,554$1,698$1,105$708$123
35 years$3,601$2,422$1,587$1,017$641$105
36 years$3,462$2,299$1,485$937$581$89
37 years$3,332$2,184$1,390$863$527$76
38 years$3,208$2,075$1,301$796$478$64
39 years$3,091$1,973$1,219$734$433$55
40 years$2,980$1,878$1,143$677$393$47
41 years$2,875$1,787$1,072$624$356$40
42 years$2,775$1,702$1,005$576$323$34
43 years$2,681$1,622$943$532$293$29
44 years$2,590$1,546$885$491$266$24
45 years$2,504$1,474$831$454$242$21
46 years$2,422$1,406$781$419$220$18
47 years$2,344$1,342$734$387$199$15
48 years$2,269$1,281$689$358$181$13
49 years$2,197$1,223$648$331$164$11
50 years$2,128$1,169$609$306$149$9

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 $2,792 every year, while hoping to spend $54,932 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: 39/37/24 Blend
57$2,180,000$2,180,000$2,180,000$2,180,000
58$2,405,240$2,289,700$2,255,910$2,481,791
59$2,592,127$2,343,448$2,273,036$2,591,265
60$2,796,236$2,397,989$2,288,894$2,704,211
61$3,019,265$2,453,303$2,303,385$2,825,253
62$3,263,083$2,509,368$2,316,402$2,955,160
63$3,529,751$2,566,160$2,327,834$3,094,780
64$3,821,534$2,623,651$2,337,566$3,245,048
65$4,140,930$2,681,809$2,345,473$3,406,993
66$4,490,686$2,740,599$2,351,428$3,581,753
67$4,873,830$2,799,982$2,355,294$3,770,579
68$5,293,694$2,859,915$2,356,931$3,974,852
69$5,753,952$2,920,352$2,356,188$4,196,095
70$6,258,645$2,981,239$2,352,911$4,435,986
71$6,812,226$3,042,520$2,346,933$4,696,378
72$7,419,603$3,104,132$2,338,085$4,979,311
73$8,086,176$3,166,008$2,326,184$5,287,037
74$8,817,897$3,228,074$2,311,043$5,622,037
75$9,621,323$3,290,250$2,292,463$5,987,050
76$10,503,674$3,352,448$2,270,236$6,385,095
77$11,472,905$3,414,575$2,244,146$6,819,498
78$12,537,780$3,476,528$2,213,964$7,293,932
79$13,707,954$3,538,198$2,179,452$7,812,444
80$14,994,063$3,599,467$2,140,360$8,379,497
81$16,407,823$3,660,206$2,096,428$9,000,014
82$17,962,144$3,720,279$2,047,382$9,679,421
83$19,671,248$3,779,539$1,992,935$10,423,703
84$21,550,806$3,837,827$1,932,788$11,239,460
85$23,618,081$3,894,973$1,866,629$12,133,967
86$25,892,094$3,950,796$1,794,131$13,115,248
87$28,393,803$4,005,100$1,714,950$14,192,150
88$31,146,299$4,057,678$1,628,729$15,374,428
89$34,175,024$4,108,307$1,535,094$16,672,837
90$37,508,011$4,156,749$1,433,654$18,099,237
91$41,176,147$4,202,748$1,324,000$19,666,701
92$45,213,466$4,246,035$1,205,706$21,389,647
93$49,657,468$4,286,319$1,078,326$23,283,968
94$54,549,474$4,323,293$941,394$25,367,189
95$59,935,013$4,356,627$794,423$27,658,629
96$65,864,254$4,385,971$636,906$30,179,588
97$72,392,477$4,410,953$468,311$32,953,548
98$79,580,597$4,431,177$288,087$36,006,399
99$87,495,733$4,446,220$95,653$39,366,681
100$96,211,848$4,455,634$0$43,065,857