Can I retire at age 58 with 2,190,000?

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 $2,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$180,848$179,237$177,666$176,132$174,634$168,371
2 years$89,529$87,861$86,245$84,679$83,159$76,917
3 years$59,093$57,418$55,807$54,254$52,759$46,734
4 years$43,878$42,209$40,613$39,087$37,628$31,866
5 years$34,751$33,092$31,517$30,023$28,605$23,121
6 years$28,669$27,022$25,471$24,009$22,634$17,432
7 years$24,326$22,693$21,166$19,739$18,407$13,487
8 years$21,071$19,452$17,951$16,559$15,271$10,627
9 years$18,540$16,937$15,461$14,105$12,860$8,487
10 years$16,516$14,929$13,479$12,158$10,957$6,848
11 years$14,862$13,290$11,867$10,581$9,424$5,569
12 years$13,484$11,929$10,531$9,281$8,166$4,557
13 years$12,319$10,780$9,409$8,194$7,121$3,747
14 years$11,321$9,799$8,454$7,274$6,242$3,094
15 years$10,458$8,951$7,633$6,487$5,496$2,562
16 years$9,703$8,213$6,920$5,808$4,858$2,128
17 years$9,037$7,564$6,297$5,219$4,307$1,771
18 years$8,446$6,989$5,749$4,703$3,830$1,476
19 years$7,918$6,477$5,263$4,250$3,414$1,232
20 years$7,443$6,019$4,830$3,849$3,049$1,030
21 years$7,014$5,607$4,442$3,493$2,729$862
22 years$6,625$5,234$4,094$3,176$2,446$722
23 years$6,270$4,895$3,780$2,892$2,195$605
24 years$5,945$4,586$3,496$2,638$1,973$507
25 years$5,646$4,304$3,238$2,409$1,776$426
26 years$5,371$4,045$3,003$2,203$1,599$357
27 years$5,117$3,807$2,789$2,016$1,442$300
28 years$4,881$3,587$2,593$1,847$1,301$252
29 years$4,662$3,384$2,413$1,694$1,175$212
30 years$4,458$3,196$2,247$1,555$1,062$178
31 years$4,267$3,021$2,095$1,428$960$149
32 years$4,089$2,859$1,955$1,312$868$125
33 years$3,922$2,707$1,825$1,207$786$105
34 years$3,765$2,566$1,705$1,110$711$89
35 years$3,617$2,434$1,594$1,022$644$75
36 years$3,478$2,310$1,491$941$584$63
37 years$3,347$2,194$1,396$867$529$53
38 years$3,223$2,085$1,307$799$480$44
39 years$3,105$1,983$1,225$737$435$37
40 years$2,994$1,886$1,148$680$395$31
41 years$2,888$1,795$1,076$627$358$26
42 years$2,788$1,710$1,010$579$325$22
43 years$2,693$1,629$948$534$295$19
44 years$2,602$1,553$889$493$268$16
45 years$2,516$1,481$835$456$243$13
46 years$2,433$1,413$784$421$221$11
47 years$2,354$1,348$737$389$200$9
48 years$2,279$1,287$692$359$182$8
49 years$2,207$1,229$651$332$165$7
50 years$2,138$1,174$612$307$150$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,190,000, adding $4,666 every year, while hoping to spend $25,471 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: 57/15/28 Blend
57$2,190,000$2,190,000$2,190,000$2,190,000
58$2,418,193$2,302,123$2,268,178$2,537,208
59$2,637,748$2,387,826$2,317,061$2,705,139
60$2,878,843$2,476,875$2,366,728$2,885,030
61$3,143,650$2,569,407$2,417,178$3,080,590
62$3,434,559$2,665,564$2,468,410$3,293,346
63$3,754,204$2,765,496$2,520,421$3,524,973
64$4,105,485$2,869,359$2,573,209$3,777,318
65$4,491,601$2,977,314$2,626,767$4,052,413
66$4,916,073$3,089,530$2,681,092$4,352,495
67$5,382,779$3,206,184$2,736,176$4,680,027
68$5,895,996$3,327,460$2,792,011$5,037,721
69$6,460,432$3,453,551$2,848,588$5,428,563
70$7,081,277$3,584,655$2,905,896$5,855,841
71$7,764,247$3,720,983$2,963,924$6,323,175
72$8,515,642$3,862,753$3,022,657$6,834,552
73$9,342,401$4,010,191$3,082,079$7,394,364
74$10,252,171$4,163,536$3,142,175$8,007,445
75$11,253,379$4,323,036$3,202,924$8,679,122
76$12,355,308$4,488,949$3,264,306$9,415,262
77$13,568,188$4,661,546$3,326,298$10,222,326
78$14,903,289$4,841,107$3,388,875$11,107,431
79$16,373,031$5,027,929$3,452,010$12,078,416
80$17,991,100$5,222,317$3,515,672$13,143,918
81$19,772,575$5,424,593$3,579,829$14,313,450
82$21,734,071$5,635,091$3,644,447$15,597,492
83$23,893,898$5,854,162$3,709,487$17,007,588
84$26,272,229$6,082,170$3,774,909$18,556,457
85$28,891,297$6,319,497$3,840,669$20,258,110
86$31,775,598$6,566,541$3,906,720$22,127,984
87$34,952,126$6,823,718$3,973,012$24,183,086
88$38,450,624$7,091,462$4,039,490$26,442,152
89$42,303,871$7,370,227$4,106,096$28,925,826
90$46,547,985$7,660,487$4,172,769$31,656,852
91$51,222,766$7,962,737$4,239,443$34,660,289
92$56,372,071$8,277,494$4,306,047$37,963,747
93$62,044,229$8,605,299$4,372,507$41,597,647
94$68,292,498$8,946,715$4,438,743$45,595,507
95$75,175,562$9,302,334$4,504,670$49,994,258
96$82,758,091$9,672,770$4,570,199$54,834,594
97$91,111,349$10,058,668$4,635,233$60,161,352
98$100,313,865$10,460,701$4,699,672$66,023,935
99$110,452,176$10,879,573$4,763,408$72,476,781
100$121,621,644$11,316,017$4,826,327$79,579,874