Can I retire at age 58 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$194,061$192,332$190,646$189,000$187,392$186,368
2 years$96,070$94,280$92,546$90,865$89,234$88,200
3 years$63,410$61,613$59,884$58,218$56,614$55,603
4 years$47,084$45,292$43,580$41,943$40,378$39,397
5 years$37,290$35,510$33,820$32,216$30,694$29,747
6 years$30,764$28,996$27,331$25,764$24,287$23,375
7 years$26,103$24,351$22,713$21,182$19,752$18,875
8 years$22,610$20,873$19,262$17,769$16,386$15,544
9 years$19,894$18,174$16,590$15,135$13,800$12,992
10 years$17,723$16,020$14,464$13,047$11,758$10,985
11 years$15,948$14,261$12,734$11,354$10,112$9,373
12 years$14,469$12,800$11,301$9,959$8,763$8,058
13 years$13,219$11,568$10,097$8,793$7,642$6,969
14 years$12,149$10,515$9,072$7,805$6,699$6,058
15 years$11,222$9,605$8,191$6,961$5,898$5,288
16 years$10,411$8,813$7,426$6,233$5,213$4,633
17 years$9,697$8,116$6,757$5,600$4,622$4,072
18 years$9,063$7,500$6,169$5,047$4,110$3,588
19 years$8,496$6,951$5,647$4,560$3,663$3,169
20 years$7,987$6,459$5,183$4,130$3,272$2,804
21 years$7,527$6,016$4,767$3,748$2,928$2,486
22 years$7,109$5,616$4,394$3,408$2,624$2,207
23 years$6,728$5,252$4,057$3,104$2,356$1,962
24 years$6,379$4,921$3,752$2,831$2,117$1,746
25 years$6,059$4,618$3,475$2,585$1,905$1,556
26 years$5,763$4,340$3,223$2,364$1,716$1,388
27 years$5,491$4,085$2,993$2,164$1,547$1,239
28 years$5,238$3,849$2,782$1,982$1,396$1,106
29 years$5,003$3,631$2,589$1,818$1,261$989
30 years$4,784$3,429$2,411$1,668$1,139$884
31 years$4,579$3,242$2,248$1,532$1,030$791
32 years$4,388$3,067$2,098$1,408$932$708
33 years$4,209$2,905$1,958$1,295$843$634
34 years$4,040$2,753$1,830$1,191$763$568
35 years$3,882$2,611$1,711$1,097$691$509
36 years$3,732$2,479$1,600$1,010$626$456
37 years$3,591$2,354$1,498$931$568$409
38 years$3,458$2,237$1,403$858$515$367
39 years$3,332$2,127$1,314$791$467$329
40 years$3,213$2,024$1,232$730$423$295
41 years$3,100$1,927$1,155$673$384$265
42 years$2,992$1,835$1,084$621$349$237
43 years$2,890$1,748$1,017$573$316$213
44 years$2,792$1,666$954$529$287$191
45 years$2,699$1,589$896$489$261$172
46 years$2,611$1,516$842$452$237$154
47 years$2,526$1,447$791$417$215$138
48 years$2,446$1,381$743$386$195$124
49 years$2,368$1,319$698$356$177$112
50 years$2,294$1,260$657$329$161$100

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,350,000, adding $6,181 every year, while hoping to spend $34,462 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: 32/40/28 Blend
57$2,350,000$2,350,000$2,350,000$2,350,000
58$2,596,076$2,471,526$2,435,101$2,656,809
59$2,824,208$2,555,963$2,480,009$2,788,335
60$3,074,455$2,643,383$2,525,267$2,926,432
61$3,349,036$2,733,895$2,570,850$3,074,503
62$3,650,395$2,827,613$2,616,731$3,233,451
63$3,981,225$2,924,656$2,662,881$3,404,267
64$4,344,492$3,025,146$2,709,270$3,588,040
65$4,743,463$3,129,212$2,755,864$3,785,965
66$5,181,739$3,236,985$2,802,627$3,999,359
67$5,663,283$3,348,605$2,849,522$4,229,665
68$6,192,465$3,464,213$2,896,508$4,478,473
69$6,774,096$3,583,959$2,943,541$4,747,529
70$7,413,478$3,707,998$2,990,574$5,038,756
71$8,116,453$3,836,490$3,037,559$5,354,264
72$8,889,456$3,969,603$3,084,441$5,696,380
73$9,739,577$4,107,509$3,131,166$6,067,660
74$10,674,626$4,250,390$3,177,673$6,470,917
75$11,703,212$4,398,433$3,223,899$6,909,246
76$12,834,816$4,551,832$3,269,776$7,386,054
77$14,079,887$4,710,792$3,315,233$7,905,090
78$15,449,936$4,875,522$3,360,194$8,470,480
79$16,957,649$5,046,241$3,404,580$9,086,767
80$18,617,000$5,223,178$3,448,304$9,758,948
81$20,443,390$5,406,570$3,491,278$10,492,530
82$22,453,787$5,596,663$3,533,407$11,293,571
83$24,666,886$5,793,713$3,574,590$12,168,744
84$27,103,291$5,997,987$3,614,721$13,125,394
85$29,785,701$6,209,763$3,653,688$14,171,611
86$32,739,130$6,429,328$3,691,374$15,316,303
87$35,991,140$6,656,984$3,727,654$16,569,279
88$39,572,103$6,893,043$3,762,397$17,941,344
89$43,515,484$7,137,829$3,795,464$19,444,394
90$47,858,162$7,391,682$3,826,711$21,091,535
91$52,640,773$7,654,952$3,855,984$22,897,200
92$57,908,093$7,928,006$3,883,121$24,877,286
93$63,709,466$8,211,226$3,907,952$27,049,305
94$70,099,263$8,505,008$3,930,301$29,432,546
95$77,137,400$8,809,765$3,949,978$32,048,256
96$84,889,900$9,125,928$3,966,787$34,919,840
97$93,429,515$9,453,944$3,980,520$38,073,084
98$102,836,418$9,794,280$3,990,959$41,536,392
99$113,198,953$10,147,420$3,997,877$45,341,054
100$124,614,474$10,513,871$4,001,033$49,521,545