Can I retire at age 58 with 2,200,000?

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 $2,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$181,674$180,056$178,477$176,936$175,431$168,804
2 years$89,938$88,263$86,639$85,065$83,539$76,939
3 years$59,363$57,681$56,061$54,502$53,000$46,636
4 years$44,078$42,401$40,798$39,266$37,800$31,719
5 years$34,910$33,243$31,661$30,160$28,735$22,953
6 years$28,800$27,146$25,587$24,119$22,737$17,258
7 years$24,437$22,797$21,263$19,830$18,491$13,314
8 years$21,167$19,541$18,033$16,635$15,340$10,460
9 years$18,624$17,014$15,531$14,169$12,919$8,328
10 years$16,592$14,997$13,541$12,214$11,007$6,698
11 years$14,930$13,351$11,921$10,630$9,467$5,429
12 years$13,546$11,983$10,580$9,324$8,204$4,428
13 years$12,375$10,829$9,452$8,231$7,154$3,629
14 years$11,373$9,843$8,493$7,307$6,271$2,985
15 years$10,505$8,992$7,668$6,516$5,521$2,464
16 years$9,747$8,250$6,952$5,835$4,880$2,039
17 years$9,078$7,598$6,326$5,243$4,327$1,690
18 years$8,485$7,021$5,775$4,725$3,847$1,404
19 years$7,954$6,507$5,287$4,269$3,429$1,168
20 years$7,477$6,047$4,852$3,866$3,063$972
21 years$7,046$5,632$4,463$3,509$2,741$810
22 years$6,655$5,257$4,113$3,191$2,457$676
23 years$6,298$4,917$3,798$2,906$2,205$564
24 years$5,972$4,607$3,512$2,650$1,982$471
25 years$5,672$4,323$3,253$2,420$1,784$394
26 years$5,396$4,063$3,017$2,213$1,607$329
27 years$5,140$3,824$2,802$2,026$1,449$275
28 years$4,903$3,603$2,604$1,856$1,307$230
29 years$4,683$3,399$2,424$1,702$1,180$193
30 years$4,478$3,210$2,258$1,562$1,066$161
31 years$4,287$3,035$2,105$1,434$964$135
32 years$4,108$2,872$1,964$1,318$872$113
33 years$3,940$2,719$1,833$1,212$789$94
34 years$3,782$2,577$1,713$1,115$715$79
35 years$3,634$2,445$1,602$1,027$647$66
36 years$3,494$2,320$1,498$946$586$55
37 years$3,362$2,204$1,402$871$532$46
38 years$3,238$2,094$1,313$803$482$39
39 years$3,120$1,992$1,230$740$437$33
40 years$3,008$1,895$1,153$683$396$27
41 years$2,902$1,804$1,081$630$360$23
42 years$2,801$1,718$1,014$582$326$19
43 years$2,705$1,637$952$537$296$16
44 years$2,614$1,560$893$496$269$13
45 years$2,527$1,488$839$458$244$11
46 years$2,444$1,419$788$423$222$9
47 years$2,365$1,354$740$391$201$8
48 years$2,289$1,293$696$361$183$7
49 years$2,217$1,235$654$334$166$6
50 years$2,148$1,179$615$308$151$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,200,000, adding $3,554 every year, while hoping to spend $23,140 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: 50/42/8 Blend
57$2,200,000$2,200,000$2,200,000$2,200,000
58$2,428,066$2,311,466$2,277,366$2,544,270
59$2,651,108$2,400,107$2,329,037$2,712,593
60$2,896,125$2,492,316$2,381,663$2,892,631
61$3,165,333$2,588,243$2,435,253$3,087,719
62$3,461,175$2,688,045$2,489,812$3,299,271
63$3,786,343$2,791,887$2,545,348$3,528,844
64$4,143,799$2,899,939$2,601,867$3,778,146
65$4,536,810$3,012,380$2,659,373$4,049,056
66$4,968,974$3,129,396$2,717,871$4,343,639
67$5,444,255$3,251,182$2,777,366$4,664,166
68$5,967,021$3,377,942$2,837,860$5,013,134
69$6,542,084$3,509,888$2,899,355$5,393,287
70$7,174,746$3,647,241$2,961,852$5,807,644
71$7,870,848$3,790,234$3,025,353$6,259,528
72$8,636,828$3,939,109$3,089,855$6,752,590
73$9,479,777$4,094,117$3,155,357$7,290,851
74$10,407,509$4,255,524$3,221,857$7,878,731
75$11,428,635$4,423,605$3,289,349$8,521,096
76$12,552,642$4,598,648$3,357,829$9,223,301
77$13,789,984$4,780,954$3,427,288$9,991,238
78$15,152,180$4,970,838$3,497,720$10,831,390
79$16,651,921$5,168,628$3,569,112$11,750,896
80$18,303,193$5,374,667$3,641,454$12,757,613
81$20,121,408$5,589,315$3,714,732$13,860,188
82$22,123,547$5,812,947$3,788,930$15,068,142
83$24,328,321$6,045,953$3,864,032$16,391,958
84$26,756,349$6,288,744$3,940,016$17,843,174
85$29,430,352$6,541,748$4,016,862$19,434,497
86$32,375,367$6,805,413$4,094,546$21,179,917
87$35,618,981$7,080,205$4,173,040$23,094,839
88$39,191,595$7,366,613$4,252,315$25,196,227
89$43,126,710$7,665,149$4,332,340$27,502,762
90$47,461,240$7,976,347$4,413,079$30,035,018
91$52,235,864$8,300,765$4,494,494$32,815,650
92$57,495,407$8,638,988$4,576,544$35,869,611
93$63,289,265$8,991,625$4,659,185$39,224,385
94$69,671,870$9,359,315$4,742,368$42,910,240
95$76,703,205$9,742,725$4,826,042$46,960,517
96$84,449,368$10,142,554$4,910,150$51,411,939
97$92,983,195$10,559,532$4,994,632$56,304,957
98$102,384,953$10,994,420$5,079,424$61,684,126
99$112,743,091$11,448,019$5,164,457$67,598,530
100$124,155,077$11,921,163$5,249,657$74,102,236