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%13.1%
1 years$189,932$188,240$186,589$184,978$183,405$181,038
2 years$94,026$92,275$90,577$88,932$87,336$84,955
3 years$62,061$60,302$58,610$56,980$55,409$53,088
4 years$46,082$44,329$42,653$41,051$39,518$37,275
5 years$36,497$34,754$33,100$31,531$30,041$27,881
6 years$30,109$28,379$26,750$25,215$23,771$21,697
7 years$25,548$23,833$22,229$20,731$19,332$17,346
8 years$22,129$20,429$18,852$17,391$16,038$14,139
9 years$19,471$17,787$16,237$14,813$13,506$11,694
10 years$17,346$15,679$14,156$12,769$11,508$9,781
11 years$15,608$13,958$12,463$11,113$9,897$8,254
12 years$14,161$12,528$11,060$9,747$8,577$7,015
13 years$12,938$11,321$9,882$8,606$7,479$5,997
14 years$11,890$10,291$8,879$7,639$6,556$5,151
15 years$10,983$9,401$8,016$6,813$5,772$4,443
16 years$10,190$8,625$7,268$6,100$5,102$3,845
17 years$9,491$7,943$6,614$5,481$4,524$3,337
18 years$8,870$7,340$6,037$4,939$4,022$2,903
19 years$8,316$6,803$5,527$4,463$3,585$2,531
20 years$7,817$6,321$5,072$4,042$3,202$2,211
21 years$7,366$5,888$4,666$3,669$2,866$1,934
22 years$6,957$5,496$4,300$3,336$2,569$1,694
23 years$6,585$5,141$3,970$3,038$2,306$1,485
24 years$6,243$4,816$3,672$2,771$2,072$1,304
25 years$5,930$4,520$3,401$2,530$1,865$1,145
26 years$5,641$4,248$3,154$2,314$1,680$1,007
27 years$5,374$3,998$2,929$2,118$1,514$886
28 years$5,126$3,767$2,723$1,940$1,367$780
29 years$4,896$3,554$2,534$1,779$1,234$687
30 years$4,682$3,356$2,360$1,633$1,115$605
31 years$4,482$3,173$2,200$1,500$1,008$534
32 years$4,294$3,002$2,053$1,378$912$471
33 years$4,119$2,843$1,917$1,267$825$415
34 years$3,954$2,695$1,791$1,166$747$366
35 years$3,799$2,556$1,674$1,073$677$323
36 years$3,653$2,426$1,566$989$613$285
37 years$3,515$2,304$1,466$911$556$252
38 years$3,385$2,190$1,373$840$504$223
39 years$3,261$2,082$1,286$774$457$197
40 years$3,144$1,981$1,206$714$414$174
41 years$3,034$1,886$1,131$659$376$153
42 years$2,928$1,796$1,060$608$341$136
43 years$2,828$1,711$995$561$310$120
44 years$2,733$1,631$934$518$281$106
45 years$2,642$1,555$877$479$255$94
46 years$2,555$1,484$824$442$232$83
47 years$2,473$1,416$774$408$210$73
48 years$2,393$1,352$727$377$191$65
49 years$2,318$1,291$684$349$173$57
50 years$2,246$1,233$643$322$158$50

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 $6,194 every year, while hoping to spend $49,078 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: 55/22/23 Blend
57$2,300,000$2,300,000$2,300,000$2,300,000
58$2,540,989$2,419,089$2,383,439$2,664,450
59$2,747,951$2,485,406$2,411,066$2,816,132
60$2,974,379$2,553,327$2,437,973$2,975,564
61$3,222,205$2,622,880$2,464,085$3,148,156
62$3,493,560$2,694,091$2,489,321$3,335,188
63$3,790,787$2,766,986$2,513,598$3,538,065
64$4,116,470$2,841,590$2,536,826$3,758,339
65$4,473,451$2,917,930$2,558,911$3,997,716
66$4,864,864$2,996,028$2,579,754$4,258,077
67$5,294,156$3,075,910$2,599,253$4,541,493
68$5,765,128$3,157,598$2,617,296$4,850,248
69$6,281,965$3,241,114$2,633,769$5,186,855
70$6,849,277$3,326,480$2,648,551$5,554,084
71$7,472,140$3,413,714$2,661,515$5,954,987
72$8,156,149$3,502,837$2,672,526$6,392,928
73$8,907,465$3,593,865$2,681,445$6,871,612
74$9,732,876$3,686,814$2,688,123$7,395,121
75$10,639,860$3,781,698$2,692,406$7,967,955
76$11,636,654$3,878,530$2,694,130$8,595,070
77$12,732,335$3,977,320$2,693,125$9,281,930
78$13,936,901$4,078,076$2,689,212$10,034,554
79$15,261,366$4,180,804$2,682,203$10,859,575
80$16,717,869$4,285,507$2,671,900$11,764,304
81$18,319,781$4,392,185$2,658,097$12,756,796
82$20,081,832$4,500,836$2,640,578$13,845,928
83$22,020,257$4,611,455$2,619,115$15,041,484
84$24,152,938$4,724,031$2,593,470$16,354,245
85$26,499,581$4,838,552$2,563,394$17,796,092
86$29,081,897$4,955,000$2,528,627$19,380,118
87$31,923,809$5,073,354$2,488,895$21,120,754
88$35,051,677$5,193,587$2,443,912$23,033,901
89$38,494,544$5,315,668$2,393,379$25,137,086
90$42,284,412$5,439,561$2,336,982$27,449,623
91$46,456,545$5,565,222$2,274,393$29,992,796
92$51,049,798$5,692,603$2,205,271$32,790,064
93$56,106,985$5,821,649$2,129,255$35,867,278
94$61,675,283$5,952,296$2,045,971$39,252,929
95$67,806,678$6,084,474$1,955,027$42,978,417
96$74,558,451$6,218,105$1,856,012$47,078,345
97$81,993,723$6,353,102$1,748,499$51,590,848
98$90,182,048$6,489,369$1,632,038$56,557,955
99$99,200,068$6,626,800$1,506,163$62,025,983
100$109,132,239$6,765,277$1,370,383$68,045,978