Can I retire at age 58 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$192,409$190,695$189,023$187,391$185,797$182,121
2 years$95,252$93,478$91,759$90,092$88,475$84,786
3 years$62,871$61,089$59,374$57,723$56,132$52,546
4 years$46,683$44,907$43,209$41,586$40,034$36,579
5 years$36,973$35,208$33,532$31,942$30,433$27,119
6 years$30,502$28,750$27,099$25,544$24,081$20,910
7 years$25,881$24,144$22,519$21,001$19,584$16,558
8 years$22,418$20,696$19,098$17,618$16,247$13,365
9 years$19,725$18,019$16,449$15,006$13,682$10,943
10 years$17,572$15,883$14,341$12,936$11,658$9,058
11 years$15,812$14,140$12,625$11,258$10,026$7,562
12 years$14,346$12,691$11,205$9,875$8,689$6,358
13 years$13,107$11,469$10,011$8,718$7,577$5,375
14 years$12,045$10,425$8,995$7,739$6,642$4,564
15 years$11,126$9,524$8,121$6,902$5,848$3,891
16 years$10,323$8,738$7,363$6,180$5,168$3,327
17 years$9,615$8,047$6,700$5,552$4,583$2,853
18 years$8,986$7,436$6,116$5,004$4,075$2,452
19 years$8,424$6,891$5,599$4,521$3,632$2,111
20 years$7,919$6,404$5,139$4,095$3,244$1,820
21 years$7,463$5,965$4,726$3,716$2,903$1,572
22 years$7,048$5,568$4,356$3,379$2,602$1,359
23 years$6,670$5,208$4,022$3,077$2,336$1,176
24 years$6,325$4,879$3,720$2,807$2,099$1,019
25 years$6,007$4,579$3,445$2,563$1,889$883
26 years$5,714$4,303$3,195$2,344$1,702$766
27 years$5,444$4,050$2,967$2,145$1,534$665
28 years$5,193$3,816$2,758$1,966$1,384$577
29 years$4,960$3,600$2,567$1,802$1,250$502
30 years$4,743$3,400$2,391$1,654$1,130$436
31 years$4,540$3,214$2,229$1,519$1,021$379
32 years$4,350$3,041$2,080$1,396$924$329
33 years$4,173$2,880$1,942$1,284$836$287
34 years$4,006$2,730$1,814$1,181$757$249
35 years$3,849$2,589$1,696$1,087$686$217
36 years$3,701$2,457$1,587$1,002$621$189
37 years$3,561$2,334$1,485$923$563$164
38 years$3,429$2,218$1,391$851$510$143
39 years$3,304$2,109$1,303$784$463$124
40 years$3,185$2,007$1,221$723$420$108
41 years$3,073$1,910$1,145$667$381$94
42 years$2,966$1,819$1,074$616$346$82
43 years$2,865$1,733$1,008$569$314$71
44 years$2,768$1,652$946$525$285$62
45 years$2,676$1,576$889$485$258$54
46 years$2,589$1,503$835$448$235$47
47 years$2,505$1,434$784$414$213$41
48 years$2,425$1,369$737$382$194$36
49 years$2,348$1,308$692$353$176$31
50 years$2,275$1,249$651$327$160$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,330,000, adding $2,779 every year, while hoping to spend $35,607 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: 60/33/7 Blend
57$2,330,000$2,330,000$2,330,000$2,330,000
58$2,570,527$2,447,037$2,410,922$2,720,912
59$2,794,835$2,529,056$2,453,802$2,903,968
60$3,040,829$2,613,901$2,496,925$3,099,205
61$3,310,683$2,701,672$2,540,262$3,311,250
62$3,606,793$2,792,474$2,583,781$3,541,721
63$3,931,797$2,886,416$2,627,449$3,792,396
64$4,288,600$2,983,609$2,671,228$4,065,235
65$4,680,403$3,084,172$2,715,080$4,362,390
66$5,110,732$3,188,225$2,758,963$4,686,234
67$5,583,473$3,295,894$2,802,834$5,039,373
68$6,102,903$3,407,309$2,846,645$5,424,681
69$6,673,738$3,522,606$2,890,347$5,845,316
70$7,301,170$3,641,925$2,933,884$6,304,759
71$7,990,922$3,765,412$2,977,202$6,806,838
72$8,749,298$3,893,218$3,020,240$7,355,770
73$9,583,241$4,025,501$3,062,933$7,956,197
74$10,500,405$4,162,423$3,105,214$8,613,229
75$11,509,219$4,304,155$3,147,011$9,332,496
76$12,618,971$4,450,871$3,188,249$10,120,192
77$13,839,897$4,602,754$3,228,846$10,983,144
78$15,183,271$4,759,994$3,268,717$11,928,866
79$16,661,519$4,922,787$3,307,773$12,965,634
80$18,288,328$5,091,338$3,345,918$14,102,564
81$20,078,783$5,265,859$3,383,051$15,349,696
82$22,049,504$5,446,571$3,419,068$16,718,087
83$24,218,802$5,633,702$3,453,856$18,219,917
84$26,606,857$5,827,491$3,487,297$19,868,603
85$29,235,902$6,028,183$3,519,267$21,678,921
86$32,130,437$6,236,037$3,549,636$23,667,150
87$35,317,458$6,451,319$3,578,264$25,851,222
88$38,826,710$6,674,305$3,605,008$28,250,893
89$42,690,973$6,905,284$3,629,714$30,887,922
90$46,946,364$7,144,555$3,652,221$33,786,285
91$51,632,684$7,392,429$3,672,362$36,972,393
92$56,793,789$7,649,230$3,689,957$40,475,342
93$62,478,006$7,915,293$3,704,821$44,327,189
94$68,738,587$8,190,967$3,716,757$48,563,252
95$75,634,215$8,476,615$3,725,560$53,222,442
96$83,229,551$8,772,616$3,731,013$58,347,630
97$91,595,852$9,079,361$3,732,888$63,986,049
98$100,811,638$9,397,258$3,730,949$70,189,742
99$110,963,433$9,726,732$3,724,944$77,016,048
100$122,146,586$10,068,224$3,714,612$84,528,144