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%18.3%
1 years$189,932$188,240$186,589$184,978$183,405$177,251
2 years$94,026$92,275$90,577$88,932$87,336$81,196
3 years$62,061$60,302$58,610$56,980$55,409$49,477
4 years$46,082$44,329$42,653$41,051$39,518$33,839
5 years$36,497$34,754$33,100$31,531$30,041$24,630
6 years$30,109$28,379$26,750$25,215$23,771$18,631
7 years$25,548$23,833$22,229$20,731$19,332$14,464
8 years$22,129$20,429$18,852$17,391$16,038$11,438
9 years$19,471$17,787$16,237$14,813$13,506$9,168
10 years$17,346$15,679$14,156$12,769$11,508$7,425
11 years$15,608$13,958$12,463$11,113$9,897$6,062
12 years$14,161$12,528$11,060$9,747$8,577$4,980
13 years$12,938$11,321$9,882$8,606$7,479$4,112
14 years$11,890$10,291$8,879$7,639$6,556$3,409
15 years$10,983$9,401$8,016$6,813$5,772$2,836
16 years$10,190$8,625$7,268$6,100$5,102$2,365
17 years$9,491$7,943$6,614$5,481$4,524$1,977
18 years$8,870$7,340$6,037$4,939$4,022$1,656
19 years$8,316$6,803$5,527$4,463$3,585$1,388
20 years$7,817$6,321$5,072$4,042$3,202$1,166
21 years$7,366$5,888$4,666$3,669$2,866$980
22 years$6,957$5,496$4,300$3,336$2,569$825
23 years$6,585$5,141$3,970$3,038$2,306$694
24 years$6,243$4,816$3,672$2,771$2,072$585
25 years$5,930$4,520$3,401$2,530$1,865$493
26 years$5,641$4,248$3,154$2,314$1,680$416
27 years$5,374$3,998$2,929$2,118$1,514$351
28 years$5,126$3,767$2,723$1,940$1,367$296
29 years$4,896$3,554$2,534$1,779$1,234$250
30 years$4,682$3,356$2,360$1,633$1,115$211
31 years$4,482$3,173$2,200$1,500$1,008$178
32 years$4,294$3,002$2,053$1,378$912$151
33 years$4,119$2,843$1,917$1,267$825$127
34 years$3,954$2,695$1,791$1,166$747$107
35 years$3,799$2,556$1,674$1,073$677$91
36 years$3,653$2,426$1,566$989$613$77
37 years$3,515$2,304$1,466$911$556$65
38 years$3,385$2,190$1,373$840$504$55
39 years$3,261$2,082$1,286$774$457$46
40 years$3,144$1,981$1,206$714$414$39
41 years$3,034$1,886$1,131$659$376$33
42 years$2,928$1,796$1,060$608$341$28
43 years$2,828$1,711$995$561$310$24
44 years$2,733$1,631$934$518$281$20
45 years$2,642$1,555$877$479$255$17
46 years$2,555$1,484$824$442$232$14
47 years$2,473$1,416$774$408$210$12
48 years$2,393$1,352$727$377$191$10
49 years$2,318$1,291$684$349$173$9
50 years$2,246$1,233$643$322$158$7

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 $2,763 every year, while hoping to spend $48,909 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: 60/10/30 Blend
57$2,300,000$2,300,000$2,300,000$2,300,000
58$2,537,450$2,415,550$2,379,900$2,668,824
59$2,744,231$2,481,873$2,407,588$2,825,270
60$2,970,465$2,549,807$2,434,564$2,990,470
61$3,218,083$2,619,379$2,460,753$3,169,742
62$3,489,215$2,690,615$2,486,075$3,364,471
63$3,786,203$2,763,543$2,510,447$3,576,183
64$4,111,627$2,838,189$2,533,779$3,806,560
65$4,468,331$2,914,578$2,555,979$4,057,454
66$4,859,445$2,992,736$2,576,947$4,330,909
67$5,288,415$3,072,687$2,596,582$4,629,174
68$5,759,039$3,154,455$2,614,774$4,954,728
69$6,275,500$3,238,062$2,631,407$5,310,305
70$6,842,405$3,323,531$2,646,363$5,698,916
71$7,464,829$3,410,882$2,659,515$6,123,878
72$8,148,361$3,500,135$2,670,728$6,588,850
73$8,899,160$3,591,308$2,679,864$7,097,862
74$9,724,011$3,684,418$2,686,776$7,655,356
75$10,630,386$3,779,481$2,691,308$8,266,228
76$11,626,518$3,876,509$2,693,301$8,935,871
77$12,721,479$3,975,514$2,692,582$9,670,234
78$13,925,262$4,076,505$2,688,975$10,475,869
79$15,248,875$4,179,491$2,682,292$11,359,998
80$16,704,448$4,284,474$2,672,337$12,330,581
81$18,305,346$4,391,457$2,658,905$13,396,393
82$20,066,293$4,500,440$2,641,780$14,567,100
83$22,003,511$4,611,418$2,620,735$15,853,360
84$24,134,874$4,724,382$2,595,535$17,266,917
85$26,480,077$4,839,323$2,565,931$18,820,715
86$29,060,820$4,956,224$2,531,665$20,529,020
87$31,901,011$5,075,067$2,492,463$22,407,554
88$35,026,995$5,195,826$2,448,041$24,473,647
89$38,467,800$5,318,473$2,398,102$26,746,397
90$42,255,411$5,442,974$2,342,334$29,246,850
91$46,425,070$5,569,287$2,280,410$31,998,207
92$51,015,613$5,697,368$2,211,989$35,026,032
93$56,069,830$5,827,163$2,136,715$38,358,504
94$61,634,871$5,958,612$2,054,213$42,026,677
95$67,762,693$6,091,649$1,964,094$46,064,777
96$74,510,546$6,226,198$1,865,950$50,510,523
97$81,941,516$6,362,177$1,759,354$55,405,488
98$90,125,118$6,499,491$1,643,860$60,795,486
99$99,137,953$6,638,039$1,519,002$66,731,013
100$109,064,429$6,777,708$1,384,294$73,267,715