Can I retire at age 58 with 2,260,000?

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 $2,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$186,629$184,966$183,344$181,761$180,216$176,721
2 years$92,390$90,670$89,002$87,385$85,817$82,311
3 years$60,982$59,254$57,590$55,989$54,446$51,037
4 years$45,281$43,558$41,911$40,337$38,831$35,546
5 years$35,862$34,150$32,525$30,982$29,519$26,367
6 years$29,585$27,886$26,285$24,777$23,357$20,342
7 years$25,104$23,419$21,843$20,370$18,996$16,117
8 years$21,744$20,074$18,524$17,088$15,759$13,017
9 years$19,132$17,478$15,955$14,555$13,271$10,664
10 years$17,044$15,406$13,910$12,547$11,308$8,832
11 years$15,337$13,715$12,246$10,920$9,725$7,379
12 years$13,915$12,310$10,868$9,578$8,427$6,207
13 years$12,713$11,125$9,710$8,456$7,349$5,251
14 years$11,683$10,112$8,724$7,506$6,442$4,462
15 years$10,792$9,237$7,877$6,694$5,672$3,807
16 years$10,013$8,475$7,142$5,994$5,013$3,258
17 years$9,326$7,805$6,499$5,385$4,445$2,795
18 years$8,716$7,212$5,932$4,853$3,952$2,404
19 years$8,171$6,684$5,431$4,385$3,523$2,071
20 years$7,681$6,211$4,984$3,972$3,146$1,787
21 years$7,238$5,786$4,584$3,605$2,816$1,545
22 years$6,836$5,401$4,225$3,278$2,524$1,337
23 years$6,470$5,051$3,901$2,985$2,266$1,158
24 years$6,135$4,733$3,608$2,722$2,036$1,004
25 years$5,827$4,441$3,342$2,486$1,832$871
26 years$5,543$4,174$3,099$2,273$1,651$756
27 years$5,280$3,928$2,878$2,081$1,488$656
28 years$5,037$3,702$2,675$1,906$1,343$571
29 years$4,811$3,492$2,490$1,748$1,213$496
30 years$4,600$3,298$2,319$1,604$1,096$431
31 years$4,404$3,118$2,162$1,474$991$375
32 years$4,220$2,950$2,017$1,354$896$327
33 years$4,047$2,794$1,883$1,245$811$284
34 years$3,885$2,648$1,760$1,146$734$247
35 years$3,733$2,511$1,645$1,055$665$216
36 years$3,589$2,384$1,539$971$602$188
37 years$3,454$2,264$1,441$895$546$163
38 years$3,326$2,152$1,349$825$495$142
39 years$3,205$2,046$1,264$761$449$124
40 years$3,090$1,946$1,185$702$407$108
41 years$2,981$1,853$1,111$647$369$94
42 years$2,877$1,765$1,042$597$335$82
43 years$2,779$1,681$978$551$304$72
44 years$2,685$1,603$918$509$276$62
45 years$2,596$1,528$862$470$251$54
46 years$2,511$1,458$809$434$228$47
47 years$2,430$1,391$760$401$207$41
48 years$2,352$1,328$715$371$188$36
49 years$2,278$1,268$672$343$170$31
50 years$2,207$1,212$631$317$155$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,260,000, adding $3,358 every year, while hoping to spend $43,203 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: 65/26/9 Blend
57$2,260,000$2,260,000$2,260,000$2,260,000
58$2,493,984$2,374,204$2,339,174$2,651,275
59$2,702,402$2,444,572$2,371,568$2,826,827
60$2,930,632$2,516,940$2,403,600$3,013,144
61$3,180,647$2,591,361$2,435,212$3,215,590
62$3,454,623$2,667,888$2,466,341$3,435,733
63$3,754,956$2,746,576$2,496,925$3,675,297
64$4,084,283$2,827,480$2,526,894$3,936,182
65$4,445,511$2,910,657$2,556,175$4,220,478
66$4,841,840$2,996,166$2,584,694$4,530,486
67$5,276,795$3,084,066$2,612,369$4,868,740
68$5,754,260$3,174,417$2,639,115$5,238,030
69$6,278,512$3,267,281$2,664,843$5,641,430
70$6,854,264$3,362,721$2,689,459$6,082,323
71$7,486,705$3,460,801$2,712,862$6,564,435
72$8,181,555$3,561,586$2,734,949$7,091,871
73$8,945,112$3,665,142$2,755,608$7,669,150
74$9,784,317$3,771,538$2,774,725$8,301,252
75$10,706,815$3,880,841$2,792,175$8,993,661
76$11,721,029$3,993,121$2,807,833$9,752,418
77$12,836,240$4,108,450$2,821,561$10,584,177
78$14,062,672$4,226,900$2,833,219$11,496,268
79$15,411,590$4,348,544$2,842,658$12,496,767
80$16,895,406$4,473,455$2,849,720$13,594,570
81$18,527,793$4,601,710$2,854,241$14,799,478
82$20,323,819$4,733,385$2,856,049$16,122,287
83$22,300,084$4,868,557$2,854,962$17,574,895
84$24,474,880$5,007,304$2,850,792$19,170,405
85$26,868,362$5,149,706$2,843,337$20,923,260
86$29,502,736$5,295,842$2,832,389$22,849,366
87$32,402,470$5,445,794$2,817,730$24,966,255
88$35,594,527$5,599,642$2,799,129$27,293,239
89$39,108,614$5,757,470$2,776,345$29,851,598
90$42,977,467$5,919,360$2,749,126$32,664,781
91$47,237,155$6,085,396$2,717,209$35,758,622
92$51,927,425$6,255,660$2,680,316$39,161,590
93$57,092,074$6,430,239$2,638,157$42,905,051
94$62,779,360$6,609,215$2,590,430$47,023,570
95$69,042,462$6,792,674$2,536,817$51,555,231
96$75,939,978$6,980,700$2,476,985$56,542,002
97$83,536,478$7,173,377$2,410,587$62,030,124
98$91,903,117$7,370,790$2,337,260$68,070,556
99$101,118,299$7,573,023$2,256,622$74,719,445
100$111,268,423$7,780,159$2,168,277$82,038,667