Can I retire at age 58 with 2,290,000?

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 $2,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$189,106$187,422$185,778$184,174$182,608$179,141
2 years$93,617$91,873$90,184$88,545$86,956$83,477
3 years$61,791$60,040$58,355$56,732$55,169$51,785
4 years$45,882$44,136$42,467$40,872$39,347$36,085
5 years$36,338$34,603$32,956$31,394$29,911$26,781
6 years$29,978$28,256$26,634$25,106$23,667$20,672
7 years$25,437$23,729$22,133$20,641$19,248$16,388
8 years$22,033$20,340$18,770$17,315$15,968$13,243
9 years$19,386$17,710$16,167$14,749$13,447$10,856
10 years$17,270$15,611$14,095$12,713$11,458$8,997
11 years$15,540$13,897$12,409$11,065$9,854$7,521
12 years$14,100$12,473$11,012$9,705$8,539$6,331
13 years$12,882$11,272$9,839$8,568$7,446$5,359
14 years$11,838$10,246$8,840$7,606$6,528$4,557
15 years$10,935$9,360$7,982$6,783$5,747$3,890
16 years$10,146$8,588$7,236$6,073$5,080$3,332
17 years$9,450$7,909$6,585$5,457$4,504$2,861
18 years$8,832$7,308$6,011$4,918$4,005$2,462
19 years$8,279$6,773$5,503$4,444$3,569$2,123
20 years$7,783$6,294$5,050$4,025$3,188$1,833
21 years$7,334$5,863$4,645$3,653$2,853$1,586
22 years$6,927$5,472$4,281$3,321$2,557$1,373
23 years$6,556$5,118$3,953$3,025$2,296$1,190
24 years$6,216$4,796$3,656$2,759$2,063$1,033
25 years$5,904$4,500$3,386$2,519$1,857$897
26 years$5,616$4,230$3,140$2,303$1,673$779
27 years$5,350$3,981$2,916$2,108$1,508$677
28 years$5,104$3,751$2,711$1,932$1,361$589
29 years$4,875$3,539$2,523$1,771$1,229$512
30 years$4,661$3,342$2,350$1,626$1,110$446
31 years$4,462$3,159$2,191$1,493$1,004$388
32 years$4,276$2,989$2,044$1,372$908$338
33 years$4,101$2,831$1,908$1,262$822$295
34 years$3,937$2,683$1,783$1,161$744$257
35 years$3,783$2,545$1,667$1,069$674$224
36 years$3,637$2,415$1,560$984$610$195
37 years$3,500$2,294$1,460$907$553$170
38 years$3,370$2,180$1,367$836$502$148
39 years$3,247$2,073$1,281$771$455$129
40 years$3,131$1,972$1,200$711$413$113
41 years$3,020$1,877$1,126$656$374$98
42 years$2,916$1,788$1,056$605$340$86
43 years$2,816$1,704$991$559$308$75
44 years$2,721$1,624$930$516$280$65
45 years$2,630$1,549$873$477$254$57
46 years$2,544$1,477$820$440$231$50
47 years$2,462$1,410$771$407$209$43
48 years$2,383$1,346$724$376$190$38
49 years$2,308$1,285$681$347$173$33
50 years$2,236$1,228$640$321$157$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,290,000, adding $4,890 every year, while hoping to spend $23,436 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: 56/36/8 Blend
57$2,290,000$2,290,000$2,290,000$2,290,000
58$2,528,624$2,407,254$2,371,759$2,665,246
59$2,761,608$2,500,274$2,426,277$2,850,983
60$3,017,571$2,597,066$2,481,836$3,050,149
61$3,298,832$2,697,791$2,538,446$3,266,502
62$3,607,945$2,802,615$2,596,117$3,501,681
63$3,947,726$2,911,714$2,654,858$3,757,490
64$4,321,276$3,025,270$2,714,677$4,035,913
65$4,732,011$3,143,472$2,775,583$4,339,130
66$5,183,694$3,266,521$2,837,583$4,669,541
67$5,680,473$3,394,623$2,900,685$5,029,782
68$6,226,917$3,527,995$2,964,893$5,422,757
69$6,828,060$3,666,864$3,030,215$5,851,658
70$7,489,448$3,811,466$3,096,653$6,319,997
71$8,217,193$3,962,049$3,164,212$6,831,641
72$9,018,028$4,118,871$3,232,895$7,390,842
73$9,899,373$4,282,202$3,302,703$8,002,280
74$10,869,403$4,452,324$3,373,637$8,671,109
75$11,937,125$4,629,531$3,445,697$9,402,996
76$13,112,464$4,814,130$3,518,880$10,204,185
77$14,406,357$5,006,445$3,593,185$11,081,544
78$15,830,855$5,206,809$3,668,606$12,042,638
79$17,399,236$5,415,576$3,745,137$13,095,793
80$19,126,130$5,633,112$3,822,772$14,250,177
81$21,027,662$5,859,801$3,901,501$15,515,882
82$23,121,595$6,096,043$3,981,313$16,904,024
83$25,427,507$6,342,259$4,062,197$18,426,841
84$27,966,969$6,598,885$4,144,136$20,097,809
85$30,763,750$6,866,381$4,227,115$21,931,768
86$33,844,043$7,145,224$4,311,114$23,945,062
87$37,236,711$7,435,916$4,396,112$26,155,691
88$40,973,560$7,738,981$4,482,086$28,583,478
89$45,089,637$8,054,964$4,569,010$31,250,255
90$49,623,562$8,384,439$4,656,854$34,180,071
91$54,617,893$8,728,004$4,745,586$37,399,412
92$60,119,526$9,086,285$4,835,171$40,937,452
93$66,180,141$9,459,935$4,925,572$44,826,328
94$72,856,683$9,849,640$5,016,747$49,101,436
95$80,211,907$10,256,115$5,108,650$53,801,772
96$88,314,964$10,680,108$5,201,233$58,970,288
97$97,242,059$11,122,402$5,294,443$64,654,303
98$107,077,166$11,583,816$5,388,223$70,905,944
99$117,912,820$12,065,206$5,482,512$77,782,635
100$129,850,995$12,567,468$5,577,244$85,347,638