Can I retire at age 58 with 2,280,000?

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 $2,280,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$188,280$186,603$184,967$183,370$181,810$180,892
2 years$93,208$91,472$89,790$88,159$86,576$85,650
3 years$61,521$59,778$58,100$56,484$54,928$54,021
4 years$45,681$43,943$42,282$40,694$39,175$38,296
5 years$36,180$34,452$32,812$31,257$29,780$28,931
6 years$29,847$28,133$26,517$24,996$23,564$22,745
7 years$25,326$23,626$22,036$20,551$19,164$18,377
8 years$21,936$20,252$18,688$17,239$15,898$15,142
9 years$19,302$17,633$16,096$14,684$13,389$12,664
10 years$17,195$15,542$14,033$12,658$11,408$10,714
11 years$15,472$13,836$12,354$11,016$9,811$9,148
12 years$14,038$12,419$10,964$9,663$8,502$7,868
13 years$12,825$11,223$9,796$8,531$7,414$6,810
14 years$11,787$10,201$8,802$7,573$6,499$5,923
15 years$10,887$9,319$7,947$6,753$5,722$5,174
16 years$10,101$8,550$7,205$6,047$5,057$4,536
17 years$9,408$7,874$6,556$5,433$4,484$3,990
18 years$8,793$7,276$5,985$4,896$3,987$3,518
19 years$8,243$6,744$5,479$4,424$3,554$3,109
20 years$7,749$6,266$5,028$4,007$3,174$2,754
21 years$7,302$5,837$4,625$3,637$2,841$2,443
22 years$6,897$5,449$4,263$3,307$2,546$2,170
23 years$6,527$5,096$3,936$3,011$2,286$1,931
24 years$6,189$4,775$3,640$2,747$2,054$1,720
25 years$5,878$4,481$3,371$2,508$1,849$1,534
26 years$5,592$4,211$3,127$2,293$1,665$1,369
27 years$5,327$3,963$2,903$2,099$1,501$1,223
28 years$5,082$3,734$2,699$1,923$1,355$1,093
29 years$4,854$3,523$2,512$1,764$1,223$977
30 years$4,641$3,327$2,340$1,619$1,105$875
31 years$4,443$3,145$2,181$1,487$999$783
32 years$4,257$2,976$2,035$1,366$904$702
33 years$4,083$2,818$1,900$1,256$818$629
34 years$3,920$2,671$1,775$1,156$741$564
35 years$3,766$2,534$1,660$1,064$671$505
36 years$3,621$2,405$1,553$980$608$453
37 years$3,484$2,284$1,453$903$551$407
38 years$3,355$2,171$1,361$832$499$365
39 years$3,233$2,064$1,275$767$453$328
40 years$3,117$1,964$1,195$708$411$294
41 years$3,007$1,869$1,121$653$373$264
42 years$2,903$1,780$1,051$603$338$237
43 years$2,803$1,696$986$556$307$213
44 years$2,709$1,617$926$514$279$191
45 years$2,619$1,542$869$474$253$172
46 years$2,533$1,471$817$438$230$155
47 years$2,451$1,404$767$405$209$139
48 years$2,373$1,340$721$374$189$125
49 years$2,298$1,280$678$346$172$112
50 years$2,226$1,222$637$320$156$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,280,000, adding $3,748 every year, while hoping to spend $51,884 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: 70/13/17 Blend
57$2,280,000$2,280,000$2,280,000$2,280,000
58$2,516,426$2,395,586$2,360,246$2,682,218
59$2,717,897$2,457,766$2,384,110$2,855,235
60$2,938,180$2,521,253$2,407,035$3,037,992
61$3,179,137$2,586,058$2,428,934$3,236,701
62$3,442,822$2,652,187$2,449,716$3,452,932
63$3,731,495$2,719,649$2,469,286$3,688,411
64$4,047,643$2,788,448$2,487,543$3,945,042
65$4,394,008$2,858,587$2,504,381$4,224,920
66$4,773,607$2,930,068$2,519,688$4,530,355
67$5,189,765$3,002,892$2,533,348$4,863,891
68$5,646,143$3,077,055$2,545,236$5,228,329
69$6,146,772$3,152,553$2,555,224$5,626,757
70$6,696,094$3,229,380$2,563,176$6,062,576
71$7,299,001$3,307,525$2,568,948$6,539,533
72$7,960,882$3,386,976$2,572,390$7,061,758
73$8,687,672$3,467,718$2,573,345$7,633,800
74$9,485,910$3,549,732$2,571,648$8,260,671
75$10,362,800$3,632,996$2,567,125$8,947,894
76$11,326,276$3,717,483$2,559,594$9,701,557
77$12,385,080$3,803,164$2,548,865$10,528,363
78$13,548,844$3,890,004$2,534,737$11,435,704
79$14,828,176$3,977,965$2,517,001$12,431,722
80$16,234,767$4,067,002$2,495,438$13,525,390
81$17,781,496$4,157,067$2,469,817$14,726,595
82$19,482,549$4,248,105$2,439,897$16,046,233
83$21,353,562$4,340,055$2,405,426$17,496,312
84$23,411,758$4,432,849$2,366,140$19,090,061
85$25,676,113$4,526,415$2,321,762$20,842,063
86$28,167,538$4,620,671$2,272,003$22,768,385
87$30,909,071$4,715,528$2,216,559$24,886,733
88$33,926,097$4,810,889$2,155,114$27,216,621
89$37,246,584$4,906,648$2,087,335$29,779,552
90$40,901,352$5,002,690$2,012,878$32,599,223
91$44,924,358$5,098,890$1,931,377$35,701,749
92$49,353,020$5,195,113$1,842,455$39,115,909
93$54,228,565$5,291,211$1,745,715$42,873,417
94$59,596,425$5,387,027$1,640,743$47,009,224
95$65,506,658$5,482,388$1,527,105$51,561,846
96$72,014,423$5,577,112$1,404,350$56,573,730
97$79,180,503$5,670,998$1,272,003$62,091,651
98$87,071,871$5,763,835$1,129,573$68,167,161
99$95,762,331$5,855,391$976,542$74,857,066
100$105,333,204$5,945,421$812,372$82,223,974