Can I retire at age 58 with 2,300,000?

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 $2,300,000?

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$189,932$188,240$186,589$184,978$183,405$179,849
2 years$94,026$92,275$90,577$88,932$87,336$83,768
3 years$62,061$60,302$58,610$56,980$55,409$51,940
4 years$46,082$44,329$42,653$41,051$39,518$36,175
5 years$36,497$34,754$33,100$31,531$30,041$26,833
6 years$30,109$28,379$26,750$25,215$23,771$20,702
7 years$25,548$23,833$22,229$20,731$19,332$16,402
8 years$22,129$20,429$18,852$17,391$16,038$13,247
9 years$19,471$17,787$16,237$14,813$13,506$10,852
10 years$17,346$15,679$14,156$12,769$11,508$8,989
11 years$15,608$13,958$12,463$11,113$9,897$7,509
12 years$14,161$12,528$11,060$9,747$8,577$6,317
13 years$12,938$11,321$9,882$8,606$7,479$5,344
14 years$11,890$10,291$8,879$7,639$6,556$4,541
15 years$10,983$9,401$8,016$6,813$5,772$3,874
16 years$10,190$8,625$7,268$6,100$5,102$3,315
17 years$9,491$7,943$6,614$5,481$4,524$2,845
18 years$8,870$7,340$6,037$4,939$4,022$2,446
19 years$8,316$6,803$5,527$4,463$3,585$2,108
20 years$7,817$6,321$5,072$4,042$3,202$1,819
21 years$7,366$5,888$4,666$3,669$2,866$1,572
22 years$6,957$5,496$4,300$3,336$2,569$1,360
23 years$6,585$5,141$3,970$3,038$2,306$1,178
24 years$6,243$4,816$3,672$2,771$2,072$1,021
25 years$5,930$4,520$3,401$2,530$1,865$886
26 years$5,641$4,248$3,154$2,314$1,680$769
27 years$5,374$3,998$2,929$2,118$1,514$668
28 years$5,126$3,767$2,723$1,940$1,367$581
29 years$4,896$3,554$2,534$1,779$1,234$505
30 years$4,682$3,356$2,360$1,633$1,115$439
31 years$4,482$3,173$2,200$1,500$1,008$382
32 years$4,294$3,002$2,053$1,378$912$332
33 years$4,119$2,843$1,917$1,267$825$289
34 years$3,954$2,695$1,791$1,166$747$252
35 years$3,799$2,556$1,674$1,073$677$219
36 years$3,653$2,426$1,566$989$613$191
37 years$3,515$2,304$1,466$911$556$166
38 years$3,385$2,190$1,373$840$504$145
39 years$3,261$2,082$1,286$774$457$126
40 years$3,144$1,981$1,206$714$414$110
41 years$3,034$1,886$1,131$659$376$96
42 years$2,928$1,796$1,060$608$341$84
43 years$2,828$1,711$995$561$310$73
44 years$2,733$1,631$934$518$281$63
45 years$2,642$1,555$877$479$255$55
46 years$2,555$1,484$824$442$232$48
47 years$2,473$1,416$774$408$210$42
48 years$2,393$1,352$727$377$191$37
49 years$2,318$1,291$684$349$173$32
50 years$2,246$1,233$643$322$158$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,300,000, adding $5,897 every year, while hoping to spend $26,525 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: 66/11/23 Blend
57$2,300,000$2,300,000$2,300,000$2,300,000
58$2,540,683$2,418,783$2,383,133$2,692,986
59$2,771,610$2,509,081$2,434,745$2,886,391
60$3,025,203$2,602,914$2,487,198$3,094,201
61$3,303,745$2,700,429$2,540,491$3,320,784
62$3,609,753$2,801,775$2,594,623$3,567,988
63$3,945,998$2,907,112$2,649,593$3,837,845
64$4,315,533$3,016,604$2,705,398$4,132,596
65$4,721,723$3,130,424$2,762,034$4,454,706
66$5,168,273$3,248,749$2,819,497$4,806,890
67$5,659,267$3,371,768$2,877,780$5,192,138
68$6,199,203$3,499,675$2,936,876$5,613,742
69$6,793,037$3,632,675$2,996,777$6,075,330
70$7,446,230$3,770,979$3,057,472$6,580,894
71$8,164,798$3,914,810$3,118,950$7,134,834
72$8,955,371$4,064,398$3,181,198$7,741,994
73$9,825,251$4,219,986$3,244,201$8,407,712
74$10,782,487$4,381,825$3,307,941$9,137,865
75$11,835,945$4,550,179$3,372,402$9,938,929
76$12,995,395$4,725,322$3,437,562$10,818,037
77$14,271,604$4,907,541$3,503,398$11,783,045
78$15,676,432$5,097,135$3,569,886$12,842,612
79$17,222,950$5,294,417$3,636,999$14,006,271
80$18,925,559$5,499,712$3,704,708$15,284,530
81$20,800,130$5,713,361$3,772,979$16,688,961
82$22,864,148$5,935,721$3,841,779$18,232,317
83$25,136,882$6,167,162$3,911,069$19,928,644
84$27,639,563$6,408,072$3,980,809$21,793,420
85$30,395,587$6,658,856$4,050,955$23,843,699
86$33,430,735$6,919,938$4,121,459$26,098,268
87$36,773,413$7,191,759$4,192,272$28,577,828
88$40,454,927$7,474,780$4,263,338$31,305,188
89$44,509,769$7,769,484$4,334,600$34,305,477
90$48,975,952$8,076,375$4,405,995$37,606,385
91$53,895,359$8,395,978$4,477,456$41,238,421
92$59,314,148$8,728,843$4,548,913$45,235,202
93$65,283,179$9,075,545$4,620,290$49,633,770
94$71,858,500$9,436,683$4,691,506$54,474,937
95$79,101,871$9,812,884$4,762,476$59,803,678
96$87,081,351$10,204,805$4,833,108$65,669,545
97$95,871,937$10,613,128$4,903,305$72,127,142
98$105,556,274$11,038,571$4,972,965$79,236,636
99$116,225,434$11,481,880$5,041,979$87,064,327
100$127,979,774$11,943,838$5,110,231$95,683,270