Can I retire at age 58 with 2,210,000?

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 $2,210,000?

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 years$182,500$180,874$179,288$177,740$176,229$172,600
2 years$90,346$88,664$87,033$85,452$83,918$80,279
3 years$59,633$57,943$56,316$54,750$53,241$49,705
4 years$44,279$42,594$40,984$39,444$37,972$34,566
5 years$35,069$33,394$31,805$30,297$28,866$25,599
6 years$28,931$27,269$25,703$24,229$22,841$19,717
7 years$24,548$22,900$21,359$19,920$18,575$15,596
8 years$21,263$19,630$18,115$16,710$15,410$12,574
9 years$18,709$17,091$15,602$14,233$12,978$10,282
10 years$16,667$15,065$13,602$12,269$11,058$8,501
11 years$14,997$13,412$11,975$10,678$9,510$7,088
12 years$13,607$12,038$10,628$9,366$8,241$5,951
13 years$12,432$10,878$9,495$8,269$7,186$5,024
14 years$11,425$9,888$8,531$7,340$6,300$4,261
15 years$10,553$9,033$7,703$6,546$5,547$3,628
16 years$9,791$8,288$6,984$5,861$4,902$3,098
17 years$9,119$7,633$6,355$5,266$4,347$2,652
18 years$8,523$7,053$5,801$4,746$3,865$2,276
19 years$7,990$6,537$5,311$4,288$3,445$1,957
20 years$7,511$6,074$4,874$3,884$3,077$1,685
21 years$7,078$5,658$4,483$3,525$2,753$1,453
22 years$6,685$5,281$4,132$3,205$2,468$1,254
23 years$6,327$4,940$3,815$2,919$2,216$1,084
24 years$5,999$4,628$3,528$2,662$1,991$937
25 years$5,698$4,343$3,268$2,431$1,792$811
26 years$5,420$4,082$3,031$2,223$1,614$702
27 years$5,163$3,842$2,814$2,035$1,455$609
28 years$4,926$3,620$2,616$1,864$1,313$528
29 years$4,705$3,415$2,435$1,710$1,186$458
30 years$4,499$3,225$2,268$1,569$1,071$397
31 years$4,306$3,049$2,114$1,441$969$345
32 years$4,126$2,885$1,973$1,324$876$299
33 years$3,958$2,732$1,842$1,218$793$260
34 years$3,799$2,589$1,721$1,120$718$226
35 years$3,650$2,456$1,609$1,031$650$196
36 years$3,510$2,331$1,505$950$589$170
37 years$3,377$2,214$1,409$875$534$148
38 years$3,252$2,104$1,319$807$484$128
39 years$3,134$2,001$1,236$744$439$112
40 years$3,021$1,903$1,158$686$398$97
41 years$2,915$1,812$1,086$633$361$84
42 years$2,814$1,726$1,019$584$328$73
43 years$2,717$1,644$956$539$297$64
44 years$2,626$1,567$898$498$270$55
45 years$2,539$1,494$843$460$245$48
46 years$2,455$1,426$792$425$223$42
47 years$2,376$1,361$744$392$202$36
48 years$2,300$1,299$699$363$184$32
49 years$2,227$1,240$657$335$167$28
50 years$2,158$1,185$618$310$151$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,210,000, adding $4,238 every year, while hoping to spend $58,273 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: 51/23/26 Blend
57$2,210,000$2,210,000$2,210,000$2,210,000
58$2,439,791$2,322,661$2,288,406$2,546,203
59$2,626,648$2,374,470$2,303,066$2,672,438
60$2,830,611$2,426,864$2,316,264$2,803,398
61$3,053,364$2,479,810$2,327,889$2,944,632
62$3,296,759$2,533,273$2,337,825$3,097,144
63$3,562,838$2,587,213$2,345,951$3,262,037
64$3,853,845$2,641,584$2,352,139$3,440,529
65$4,172,254$2,696,339$2,356,252$3,633,962
66$4,520,788$2,751,424$2,358,151$3,843,815
67$4,902,447$2,806,781$2,357,687$4,071,721
68$5,320,531$2,862,349$2,354,705$4,319,478
69$5,778,679$2,918,057$2,349,040$4,589,070
70$6,280,894$2,973,831$2,340,523$4,882,685
71$6,831,587$3,029,592$2,328,973$5,202,734
72$7,435,618$3,085,251$2,314,203$5,551,875
73$8,098,337$3,140,714$2,296,015$5,933,041
74$8,825,639$3,195,880$2,274,202$6,349,465
75$9,624,015$3,250,639$2,248,549$6,804,711
76$10,500,618$3,304,874$2,218,829$7,302,709
77$11,463,325$3,358,457$2,184,804$7,847,793
78$12,520,815$3,411,252$2,146,226$8,444,741
79$13,682,649$3,463,114$2,102,835$9,098,821
80$14,959,358$3,513,885$2,054,358$9,815,842
81$16,362,545$3,563,398$2,000,512$10,602,208
82$17,904,993$3,611,474$1,940,998$11,464,980
83$19,600,785$3,657,919$1,875,504$12,411,943
84$21,465,437$3,702,528$1,803,705$13,451,681
85$23,516,043$3,745,083$1,725,260$14,593,656
86$25,771,435$3,785,348$1,639,813$15,848,301
87$28,252,366$3,823,075$1,546,991$17,227,118
88$30,981,697$3,857,995$1,446,405$18,742,789
89$33,984,619$3,889,826$1,337,648$20,409,293
90$37,288,888$3,918,265$1,220,296$22,242,042
91$40,925,083$3,942,988$1,093,905$24,258,027
92$44,926,901$3,963,654$958,011$26,475,978
93$49,331,470$3,979,898$812,129$28,916,544
94$54,179,698$3,991,332$655,753$31,602,488
95$59,516,663$3,997,543$488,357$34,558,903
96$65,392,033$3,998,093$309,387$37,813,450
97$71,860,538$3,992,517$118,270$41,396,621
98$78,982,484$3,980,322$0$45,342,031
99$86,824,322$3,960,982$0$49,710,502
100$95,459,275$3,933,942$0$54,555,666