Can I retire at age 58 with 2,270,000?

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 $2,270,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$187,454$185,785$184,156$182,566$181,013$179,496
2 years$92,799$91,071$89,396$87,772$86,197$84,668
3 years$61,252$59,516$57,845$56,236$54,687$53,194
4 years$45,481$43,750$42,096$40,515$39,003$37,557
5 years$36,021$34,301$32,669$31,119$29,649$28,254
6 years$29,716$28,009$26,401$24,887$23,461$22,119
7 years$25,215$23,522$21,939$20,461$19,080$17,791
8 years$21,840$20,163$18,606$17,164$15,829$14,594
9 years$19,217$17,555$16,026$14,620$13,330$12,148
10 years$17,120$15,474$13,972$12,602$11,358$10,228
11 years$15,405$13,776$12,300$10,968$9,768$8,690
12 years$13,977$12,364$10,916$9,620$8,465$7,438
13 years$12,769$11,174$9,753$8,493$7,381$6,404
14 years$11,735$10,157$8,763$7,539$6,471$5,541
15 years$10,840$9,278$7,912$6,724$5,697$4,815
16 years$10,057$8,513$7,173$6,020$5,035$4,198
17 years$9,367$7,840$6,527$5,409$4,465$3,672
18 years$8,755$7,244$5,959$4,875$3,970$3,220
19 years$8,207$6,714$5,455$4,405$3,538$2,829
20 years$7,715$6,239$5,006$3,989$3,160$2,491
21 years$7,270$5,811$4,605$3,621$2,828$2,197
22 years$6,867$5,425$4,244$3,292$2,535$1,940
23 years$6,499$5,074$3,919$2,998$2,276$1,716
24 years$6,162$4,754$3,624$2,734$2,045$1,519
25 years$5,852$4,461$3,357$2,497$1,841$1,346
26 years$5,567$4,193$3,113$2,283$1,658$1,194
27 years$5,304$3,946$2,891$2,090$1,495$1,060
28 years$5,059$3,718$2,687$1,915$1,349$941
29 years$4,832$3,508$2,501$1,756$1,218$836
30 years$4,621$3,313$2,329$1,612$1,100$744
31 years$4,423$3,131$2,172$1,480$995$662
32 years$4,238$2,963$2,026$1,360$900$589
33 years$4,065$2,806$1,892$1,251$814$524
34 years$3,903$2,659$1,768$1,151$737$467
35 years$3,750$2,522$1,653$1,059$668$416
36 years$3,605$2,394$1,546$976$605$371
37 years$3,469$2,274$1,447$899$548$330
38 years$3,341$2,161$1,355$829$497$294
39 years$3,219$2,055$1,270$764$451$262
40 years$3,103$1,955$1,190$705$409$234
41 years$2,994$1,861$1,116$650$371$209
42 years$2,890$1,772$1,047$600$337$186
43 years$2,791$1,689$982$554$306$166
44 years$2,697$1,610$922$511$277$148
45 years$2,607$1,535$866$472$252$132
46 years$2,522$1,464$813$436$229$118
47 years$2,440$1,397$764$403$208$105
48 years$2,362$1,334$718$372$189$94
49 years$2,288$1,274$675$344$171$84
50 years$2,216$1,217$634$318$156$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,270,000, adding $2,914 every year, while hoping to spend $40,561 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: 52/39/9 Blend
57$2,270,000$2,270,000$2,270,000$2,270,000
58$2,504,546$2,384,236$2,349,051$2,628,891
59$2,716,853$2,457,907$2,384,587$2,787,466
60$2,949,456$2,533,828$2,419,955$2,955,209
61$3,204,382$2,612,067$2,455,105$3,136,675
62$3,483,864$2,692,694$2,489,987$3,333,168
63$3,790,362$2,775,779$2,524,544$3,546,121
64$4,126,583$2,861,397$2,558,721$3,777,111
65$4,495,511$2,949,622$2,592,455$4,027,872
66$4,900,433$3,040,533$2,625,682$4,300,315
67$5,344,967$3,134,210$2,658,332$4,596,539
68$5,833,102$3,230,734$2,690,335$4,918,856
69$6,369,230$3,330,191$2,721,612$5,269,812
70$6,958,188$3,432,667$2,752,083$5,652,206
71$7,605,308$3,538,253$2,781,663$6,069,123
72$8,316,463$3,647,040$2,810,261$6,523,958
73$9,098,120$3,759,123$2,837,783$7,020,446
74$9,957,408$3,874,600$2,864,128$7,562,703
75$10,902,178$3,993,570$2,889,192$8,155,260
76$11,941,083$4,116,137$2,912,862$8,803,107
77$13,083,652$4,242,407$2,935,021$9,511,737
78$14,340,387$4,372,488$2,955,548$10,287,202
79$15,722,859$4,506,492$2,974,311$11,136,166
80$17,243,816$4,644,535$2,991,175$12,065,968
81$18,917,302$4,786,735$3,005,997$13,084,692
82$20,758,795$4,933,212$3,018,625$14,201,243
83$22,785,345$5,084,093$3,028,902$15,425,429
84$25,015,742$5,239,505$3,036,662$16,768,053
85$27,470,687$5,399,581$3,041,731$18,241,017
86$30,172,993$5,564,456$3,043,924$19,857,431
87$33,147,792$5,734,268$3,043,050$21,631,737
88$36,422,782$5,909,162$3,038,906$23,579,846
89$40,028,479$6,089,284$3,031,283$25,719,286
90$43,998,510$6,274,785$3,019,957$28,069,369
91$48,369,928$6,465,820$3,004,696$30,651,369
92$53,183,564$6,662,549$2,985,257$33,488,726
93$58,484,408$6,865,134$2,961,383$36,607,264
94$64,322,035$7,073,743$2,932,807$40,035,438
95$70,751,076$7,288,549$2,899,249$43,804,596
96$77,831,726$7,509,729$2,860,414$47,949,278
97$85,630,320$7,737,464$2,815,996$52,507,544
98$94,219,953$7,971,940$2,765,673$57,521,325
99$103,681,172$8,213,349$2,709,106$63,036,825
100$114,102,735$8,461,886$2,645,945$69,104,955