Can I retire at age 58 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$183,326$181,693$180,099$178,544$177,026$170,002
2 years$90,755$89,065$87,427$85,839$84,298$77,309
3 years$59,902$58,205$56,571$54,998$53,482$46,748
4 years$44,479$42,787$41,169$39,623$38,144$31,715
5 years$35,228$33,545$31,949$30,434$28,996$22,890
6 years$29,062$27,392$25,820$24,338$22,944$17,163
7 years$24,659$23,004$21,456$20,010$18,660$13,203
8 years$21,359$19,719$18,197$16,786$15,480$10,342
9 years$18,794$17,169$15,673$14,298$13,036$8,209
10 years$16,742$15,133$13,664$12,325$11,108$6,581
11 years$15,065$13,472$12,029$10,726$9,553$5,317
12 years$13,669$12,092$10,676$9,408$8,278$4,322
13 years$12,488$10,928$9,538$8,306$7,219$3,530
14 years$11,477$9,933$8,570$7,373$6,328$2,894
15 years$10,601$9,074$7,738$6,576$5,572$2,380
16 years$9,835$8,325$7,015$5,888$4,924$1,962
17 years$9,161$7,667$6,384$5,290$4,366$1,621
18 years$8,562$7,085$5,827$4,768$3,882$1,341
19 years$8,026$6,566$5,335$4,308$3,460$1,111
20 years$7,545$6,102$4,896$3,902$3,091$922
21 years$7,110$5,683$4,503$3,541$2,766$765
22 years$6,715$5,305$4,150$3,220$2,479$636
23 years$6,356$4,962$3,832$2,932$2,226$529
24 years$6,026$4,649$3,544$2,674$2,000$440
25 years$5,724$4,363$3,283$2,442$1,800$366
26 years$5,445$4,100$3,044$2,233$1,621$305
27 years$5,187$3,859$2,827$2,044$1,462$254
28 years$4,948$3,636$2,628$1,873$1,319$211
29 years$4,726$3,430$2,446$1,717$1,191$176
30 years$4,519$3,240$2,278$1,576$1,076$147
31 years$4,326$3,062$2,124$1,448$973$122
32 years$4,145$2,898$1,982$1,330$880$102
33 years$3,976$2,744$1,850$1,223$797$85
34 years$3,817$2,601$1,729$1,126$721$71
35 years$3,667$2,467$1,616$1,036$653$59
36 years$3,526$2,341$1,512$954$592$49
37 years$3,393$2,224$1,415$879$536$41
38 years$3,267$2,113$1,325$810$486$34
39 years$3,148$2,010$1,242$747$441$29
40 years$3,035$1,912$1,164$689$400$24
41 years$2,928$1,820$1,091$636$363$20
42 years$2,826$1,733$1,024$587$329$17
43 years$2,730$1,652$960$542$299$14
44 years$2,638$1,574$902$500$271$12
45 years$2,550$1,501$847$462$246$10
46 years$2,466$1,432$795$427$224$8
47 years$2,387$1,367$747$394$203$7
48 years$2,310$1,305$702$364$184$6
49 years$2,237$1,246$660$337$167$5
50 years$2,167$1,190$620$311$152$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,220,000, adding $4,742 every year, while hoping to spend $22,497 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: 42/38/20 Blend
57$2,220,000$2,220,000$2,220,000$2,220,000
58$2,451,331$2,333,671$2,299,261$2,539,746
59$2,677,431$2,424,085$2,352,350$2,693,373
60$2,925,838$2,518,174$2,406,463$2,857,088
61$3,198,805$2,616,096$2,461,611$3,033,914
62$3,498,812$2,718,014$2,517,805$3,225,066
63$3,828,593$2,824,099$2,575,053$3,431,879
64$4,191,158$2,934,528$2,633,365$3,655,819
65$4,589,824$3,049,488$2,692,751$3,898,497
66$5,028,245$3,169,172$2,753,217$4,161,685
67$5,510,449$3,293,784$2,814,773$4,447,329
68$6,040,871$3,423,536$2,877,424$4,757,567
69$6,624,399$3,558,649$2,941,178$5,094,752
70$7,266,420$3,699,354$3,006,038$5,461,469
71$7,972,865$3,845,893$3,072,012$5,860,563
72$8,750,274$3,998,519$3,139,101$6,295,161
73$9,605,851$4,157,495$3,207,309$6,768,702
74$10,547,532$4,323,097$3,276,639$7,284,972
75$11,584,064$4,495,612$3,347,090$7,848,133
76$12,725,084$4,675,343$3,418,663$8,462,765
77$13,981,211$4,862,602$3,491,356$9,133,909
78$15,364,145$5,057,720$3,565,167$9,867,110
79$16,886,778$5,261,039$3,640,091$10,668,473
80$18,563,319$5,472,919$3,716,123$11,544,713
81$20,409,420$5,693,735$3,793,256$12,503,227
82$22,442,332$5,923,879$3,871,481$13,552,150
83$24,681,062$6,163,762$3,950,788$14,700,444
84$27,146,556$6,413,811$4,031,164$15,957,969
85$29,861,892$6,674,476$4,112,596$17,335,585
86$32,852,504$6,946,224$4,195,067$18,845,247
87$36,146,417$7,229,546$4,278,559$20,500,115
88$39,774,512$7,524,954$4,363,051$22,314,685
89$43,770,818$7,832,984$4,448,520$24,304,915
90$48,172,837$8,154,195$4,534,940$26,488,380
91$53,021,889$8,489,173$4,622,284$28,884,433
92$58,363,511$8,838,531$4,710,519$31,514,387
93$64,247,879$9,202,910$4,799,612$34,401,715
94$70,730,289$9,582,979$4,889,525$37,572,269
95$77,871,672$9,979,438$4,980,217$41,054,522
96$85,739,173$10,393,021$5,071,645$44,879,834
97$94,406,784$10,824,495$5,163,761$49,082,747
98$103,956,042$11,274,660$5,256,512$53,701,309
99$114,476,795$11,744,356$5,349,843$58,777,429
100$126,068,059$12,234,460$5,443,693$64,357,271