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

Use the below retirement simulation to view the chances of a successful retirement.
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%16.9%
1 years$187,454$185,785$184,156$182,566$181,013$175,924
2 years$92,799$91,071$89,396$87,772$86,197$81,108
3 years$61,252$59,516$57,845$56,236$54,687$49,758
4 years$45,481$43,750$42,096$40,515$39,003$34,273
5 years$36,021$34,301$32,669$31,119$29,649$25,130
6 years$29,716$28,009$26,401$24,887$23,461$19,156
7 years$25,215$23,522$21,939$20,461$19,080$14,991
8 years$21,840$20,163$18,606$17,164$15,829$11,952
9 years$19,217$17,555$16,026$14,620$13,330$9,663
10 years$17,120$15,474$13,972$12,602$11,358$7,895
11 years$15,405$13,776$12,300$10,968$9,768$6,504
12 years$13,977$12,364$10,916$9,620$8,465$5,393
13 years$12,769$11,174$9,753$8,493$7,381$4,495
14 years$11,735$10,157$8,763$7,539$6,471$3,763
15 years$10,840$9,278$7,912$6,724$5,697$3,161
16 years$10,057$8,513$7,173$6,020$5,035$2,663
17 years$9,367$7,840$6,527$5,409$4,465$2,249
18 years$8,755$7,244$5,959$4,875$3,970$1,903
19 years$8,207$6,714$5,455$4,405$3,538$1,613
20 years$7,715$6,239$5,006$3,989$3,160$1,369
21 years$7,270$5,811$4,605$3,621$2,828$1,164
22 years$6,867$5,425$4,244$3,292$2,535$990
23 years$6,499$5,074$3,919$2,998$2,276$843
24 years$6,162$4,754$3,624$2,734$2,045$718
25 years$5,852$4,461$3,357$2,497$1,841$612
26 years$5,567$4,193$3,113$2,283$1,658$522
27 years$5,304$3,946$2,891$2,090$1,495$445
28 years$5,059$3,718$2,687$1,915$1,349$380
29 years$4,832$3,508$2,501$1,756$1,218$325
30 years$4,621$3,313$2,329$1,612$1,100$277
31 years$4,423$3,131$2,172$1,480$995$237
32 years$4,238$2,963$2,026$1,360$900$202
33 years$4,065$2,806$1,892$1,251$814$173
34 years$3,903$2,659$1,768$1,151$737$148
35 years$3,750$2,522$1,653$1,059$668$126
36 years$3,605$2,394$1,546$976$605$108
37 years$3,469$2,274$1,447$899$548$92
38 years$3,341$2,161$1,355$829$497$79
39 years$3,219$2,055$1,270$764$451$68
40 years$3,103$1,955$1,190$705$409$58
41 years$2,994$1,861$1,116$650$371$49
42 years$2,890$1,772$1,047$600$337$42
43 years$2,791$1,689$982$554$306$36
44 years$2,697$1,610$922$511$277$31
45 years$2,607$1,535$866$472$252$26
46 years$2,522$1,464$813$436$229$23
47 years$2,440$1,397$764$403$208$19
48 years$2,362$1,334$718$372$189$17
49 years$2,288$1,274$675$344$171$14
50 years$2,216$1,217$634$318$156$12

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 $3,275 every year, while hoping to spend $23,618 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: 46/46/8 Blend
57$2,270,000$2,270,000$2,270,000$2,270,000
58$2,504,918$2,384,608$2,349,423$2,614,469
59$2,735,290$2,476,325$2,402,999$2,781,992
60$2,988,369$2,571,744$2,457,579$2,960,896
61$3,266,445$2,671,022$2,513,170$3,154,419
62$3,572,043$2,774,322$2,569,782$3,363,921
63$3,907,943$2,881,815$2,627,421$3,590,893
64$4,277,209$2,993,680$2,686,095$3,836,976
65$4,683,215$3,110,101$2,745,811$4,103,971
66$5,129,681$3,231,274$2,806,573$4,393,856
67$5,620,702$3,357,400$2,868,387$4,708,808
68$6,160,793$3,488,692$2,931,258$5,051,216
69$6,754,927$3,625,371$2,995,188$5,423,709
70$7,408,584$3,767,668$3,060,181$5,829,176
71$8,127,800$3,915,824$3,126,237$6,270,794
72$8,919,227$4,070,092$3,193,358$6,752,056
73$9,790,195$4,230,733$3,261,542$7,276,807
74$10,748,781$4,398,025$3,330,789$7,849,271
75$11,803,881$4,572,253$3,401,096$8,474,098
76$12,965,301$4,753,718$3,472,457$9,156,404
77$14,243,846$4,942,733$3,544,868$9,901,815
78$15,651,418$5,139,627$3,618,321$10,716,523
79$17,201,136$5,344,742$3,692,808$11,607,344
80$18,907,453$5,558,436$3,768,318$12,581,775
81$20,786,296$5,781,082$3,844,840$13,648,071
82$22,855,216$6,013,072$3,922,359$14,815,314
83$25,133,549$6,254,814$4,000,860$16,093,504
84$27,642,606$6,506,735$4,080,324$17,493,648
85$30,405,869$6,769,282$4,160,731$19,027,862
86$33,449,211$7,042,920$4,242,059$20,709,486
87$36,801,145$7,328,138$4,324,283$22,553,208
88$40,493,090$7,625,445$4,407,374$24,575,197
89$44,559,668$7,935,374$4,491,304$26,793,260
90$49,039,029$8,258,483$4,576,038$29,227,001
91$53,973,215$8,595,354$4,661,540$31,898,011
92$59,408,553$8,946,596$4,747,772$34,830,064
93$65,396,092$9,312,846$4,834,689$38,049,343
94$71,992,088$9,694,770$4,922,245$41,584,682
95$79,258,532$10,093,064$5,010,391$45,467,838
96$87,263,735$10,508,458$5,099,073$49,733,786
97$96,082,975$10,941,712$5,188,231$54,421,049
98$105,799,206$11,393,623$5,277,804$59,572,058
99$116,503,839$11,865,024$5,367,724$65,233,546
100$128,297,607$12,356,787$5,457,920$71,456,993