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%12.6%
1 years$192,409$190,695$189,023$187,391$185,797$183,781
2 years$95,252$93,478$91,759$90,092$88,475$86,444
3 years$62,871$61,089$59,374$57,723$56,132$54,151
4 years$46,683$44,907$43,209$41,586$40,034$38,117
5 years$36,973$35,208$33,532$31,942$30,433$28,586
6 years$30,502$28,750$27,099$25,544$24,081$22,306
7 years$25,881$24,144$22,519$21,001$19,584$17,882
8 years$22,418$20,696$19,098$17,618$16,247$14,618
9 years$19,725$18,019$16,449$15,006$13,682$12,126
10 years$17,572$15,883$14,341$12,936$11,658$10,173
11 years$15,812$14,140$12,625$11,258$10,026$8,611
12 years$14,346$12,691$11,205$9,875$8,689$7,342
13 years$13,107$11,469$10,011$8,718$7,577$6,297
14 years$12,045$10,425$8,995$7,739$6,642$5,427
15 years$11,126$9,524$8,121$6,902$5,848$4,697
16 years$10,323$8,738$7,363$6,180$5,168$4,079
17 years$9,615$8,047$6,700$5,552$4,583$3,552
18 years$8,986$7,436$6,116$5,004$4,075$3,101
19 years$8,424$6,891$5,599$4,521$3,632$2,714
20 years$7,919$6,404$5,139$4,095$3,244$2,379
21 years$7,463$5,965$4,726$3,716$2,903$2,089
22 years$7,048$5,568$4,356$3,379$2,602$1,836
23 years$6,670$5,208$4,022$3,077$2,336$1,617
24 years$6,325$4,879$3,720$2,807$2,099$1,425
25 years$6,007$4,579$3,445$2,563$1,889$1,256
26 years$5,714$4,303$3,195$2,344$1,702$1,109
27 years$5,444$4,050$2,967$2,145$1,534$980
28 years$5,193$3,816$2,758$1,966$1,384$866
29 years$4,960$3,600$2,567$1,802$1,250$766
30 years$4,743$3,400$2,391$1,654$1,130$678
31 years$4,540$3,214$2,229$1,519$1,021$600
32 years$4,350$3,041$2,080$1,396$924$531
33 years$4,173$2,880$1,942$1,284$836$471
34 years$4,006$2,730$1,814$1,181$757$417
35 years$3,849$2,589$1,696$1,087$686$370
36 years$3,701$2,457$1,587$1,002$621$328
37 years$3,561$2,334$1,485$923$563$291
38 years$3,429$2,218$1,391$851$510$258
39 years$3,304$2,109$1,303$784$463$229
40 years$3,185$2,007$1,221$723$420$203
41 years$3,073$1,910$1,145$667$381$180
42 years$2,966$1,819$1,074$616$346$160
43 years$2,865$1,733$1,008$569$314$142
44 years$2,768$1,652$946$525$285$126
45 years$2,676$1,576$889$485$258$112
46 years$2,589$1,503$835$448$235$99
47 years$2,505$1,434$784$414$213$88
48 years$2,425$1,369$737$382$194$78
49 years$2,348$1,308$692$353$176$69
50 years$2,275$1,249$651$327$160$62

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 $6,576 every year, while hoping to spend $39,977 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: 45/39/16 Blend
57$2,330,000$2,330,000$2,330,000$2,330,000
58$2,574,443$2,450,953$2,414,838$2,678,216
59$2,794,501$2,528,515$2,453,200$2,828,888
60$3,035,665$2,608,537$2,491,507$2,987,648
61$3,300,046$2,691,098$2,529,715$3,158,946
62$3,589,968$2,776,279$2,567,778$3,343,961
63$3,907,991$2,864,163$2,605,646$3,543,989
64$4,256,936$2,954,837$2,643,265$3,760,454
65$4,639,909$3,048,390$2,680,579$3,994,924
66$5,060,331$3,144,912$2,717,530$4,249,123
67$5,521,972$3,244,500$2,754,054$4,524,950
68$6,028,982$3,347,250$2,790,084$4,824,491
69$6,585,937$3,453,263$2,825,550$5,150,045
70$7,197,874$3,562,644$2,860,378$5,504,141
71$7,870,343$3,675,500$2,894,487$5,889,562
72$8,609,461$3,791,943$2,927,795$6,309,373
73$9,421,963$3,912,085$2,960,213$6,766,946
74$10,315,273$4,036,046$2,991,650$7,265,996
75$11,297,566$4,163,948$3,022,005$7,810,611
76$12,377,853$4,295,916$3,051,177$8,405,293
77$13,566,058$4,432,081$3,079,056$9,055,001
78$14,873,120$4,572,576$3,105,528$9,765,192
79$16,311,086$4,717,540$3,130,471$10,541,881
80$17,893,233$4,867,116$3,153,758$11,391,687
81$19,634,189$5,021,452$3,175,256$12,321,903
82$21,550,072$5,180,698$3,194,823$13,340,561
83$23,658,641$5,345,014$3,212,311$14,456,507
84$25,979,463$5,514,561$3,227,564$15,679,487
85$28,534,100$5,689,506$3,240,419$17,020,234
86$31,346,309$5,870,022$3,250,704$18,490,571
87$34,442,268$6,056,288$3,258,238$20,103,524
88$37,850,821$6,248,489$3,262,831$21,873,441
89$41,603,754$6,446,813$3,264,284$23,816,129
90$45,736,088$6,651,459$3,262,389$25,949,001
91$50,286,416$6,862,627$3,256,926$28,291,243
92$55,297,263$7,080,528$3,247,665$30,863,991
93$60,815,487$7,305,378$3,234,366$33,690,530
94$66,892,724$7,537,399$3,216,775$36,796,516
95$73,585,873$7,776,822$3,194,627$40,210,215
96$80,957,630$8,023,884$3,167,645$43,962,772
97$89,077,085$8,278,832$3,135,539$48,088,499
98$98,020,371$8,541,918$3,098,003$52,625,205
99$107,871,381$8,813,404$3,054,718$57,614,547
100$118,722,562$9,093,560$3,005,350$63,102,425