Can I retire at age 58 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$194,887$193,151$191,457$189,804$188,190$180,866
2 years$96,479$94,682$92,940$91,252$89,614$82,324
3 years$63,680$61,876$60,139$58,466$56,855$49,828
4 years$47,284$45,485$43,765$42,121$40,549$33,839
5 years$37,449$35,661$33,964$32,353$30,825$24,449
6 years$30,895$29,120$27,448$25,873$24,391$18,352
7 years$26,215$24,455$22,809$21,272$19,836$14,134
8 years$22,706$20,962$19,344$17,844$16,456$11,084
9 years$19,979$18,251$16,661$15,199$13,858$8,809
10 years$17,798$16,088$14,525$13,102$11,808$7,071
11 years$16,015$14,322$12,788$11,403$10,155$5,721
12 years$14,531$12,855$11,349$10,002$8,800$4,656
13 years$13,275$11,617$10,140$8,830$7,674$3,808
14 years$12,200$10,559$9,110$7,838$6,727$3,126
15 years$11,269$9,646$8,226$6,990$5,923$2,575
16 years$10,456$8,850$7,458$6,259$5,235$2,126
17 years$9,738$8,151$6,786$5,624$4,642$1,759
18 years$9,102$7,532$6,195$5,068$4,127$1,457
19 years$8,532$6,980$5,671$4,580$3,679$1,209
20 years$8,021$6,486$5,205$4,148$3,286$1,005
21 years$7,559$6,042$4,787$3,764$2,940$835
22 years$7,139$5,640$4,412$3,423$2,636$695
23 years$6,756$5,275$4,074$3,117$2,366$579
24 years$6,406$4,942$3,768$2,843$2,127$482
25 years$6,084$4,638$3,490$2,596$1,914$402
26 years$5,788$4,359$3,236$2,374$1,724$335
27 years$5,514$4,102$3,005$2,173$1,554$280
28 years$5,260$3,866$2,794$1,991$1,402$233
29 years$5,024$3,647$2,600$1,826$1,266$195
30 years$4,804$3,444$2,422$1,675$1,144$163
31 years$4,599$3,256$2,258$1,539$1,034$136
32 years$4,407$3,080$2,106$1,414$936$113
33 years$4,226$2,917$1,967$1,300$847$95
34 years$4,057$2,765$1,838$1,197$767$79
35 years$3,898$2,622$1,718$1,101$694$66
36 years$3,748$2,489$1,607$1,014$629$55
37 years$3,607$2,364$1,504$935$570$46
38 years$3,473$2,247$1,409$862$517$38
39 years$3,346$2,136$1,320$794$469$32
40 years$3,226$2,033$1,237$733$425$27
41 years$3,113$1,935$1,160$676$386$22
42 years$3,005$1,843$1,088$624$350$19
43 years$2,902$1,756$1,021$576$318$16
44 years$2,804$1,674$958$532$288$13
45 years$2,711$1,596$900$491$262$11
46 years$2,622$1,522$845$454$238$9
47 years$2,537$1,453$794$419$216$8
48 years$2,456$1,387$746$387$196$6
49 years$2,378$1,324$701$358$178$5
50 years$2,304$1,265$659$331$162$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,360,000, adding $5,330 every year, while hoping to spend $46,313 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: 61/20/19 Blend
57$2,360,000$2,360,000$2,360,000$2,360,000
58$2,606,218$2,481,138$2,444,558$2,752,089
59$2,822,775$2,553,437$2,477,174$2,923,530
60$3,059,870$2,627,727$2,509,330$3,104,931
61$3,319,546$2,704,055$2,540,963$3,301,842
62$3,604,059$2,782,472$2,572,004$3,515,774
63$3,915,887$2,863,028$2,602,381$3,748,390
64$4,257,766$2,945,774$2,632,018$4,001,525
65$4,632,703$3,030,762$2,660,836$4,277,197
66$5,044,014$3,118,045$2,688,749$4,577,628
67$5,495,350$3,207,676$2,715,669$4,905,267
68$5,990,733$3,299,710$2,741,501$5,262,811
69$6,534,594$3,394,201$2,766,147$5,653,229
70$7,131,811$3,491,206$2,789,502$6,079,794
71$7,787,761$3,590,780$2,811,456$6,546,110
72$8,508,366$3,692,982$2,831,893$7,056,147
73$9,300,150$3,797,869$2,850,692$7,614,279
74$10,170,300$3,905,499$2,867,725$8,225,324
75$11,126,733$4,015,931$2,882,856$8,894,591
76$12,178,173$4,129,224$2,895,945$9,627,929
77$13,334,230$4,245,440$2,906,842$10,431,782
78$14,605,492$4,364,637$2,915,392$11,313,248
79$16,003,625$4,486,876$2,921,430$12,280,152
80$17,541,480$4,612,220$2,924,784$13,341,111
81$19,233,220$4,740,727$2,925,273$14,505,623
82$21,094,447$4,872,461$2,922,708$15,784,152
83$23,142,351$5,007,482$2,916,889$17,188,227
84$25,395,874$5,145,851$2,907,608$18,730,553
85$27,875,885$5,287,631$2,894,645$20,425,131
86$30,605,381$5,432,880$2,877,772$22,287,385
87$33,609,700$5,581,661$2,856,747$24,334,315
88$36,916,760$5,734,033$2,831,319$26,584,651
89$40,557,325$5,890,056$2,801,223$29,059,035
90$44,565,291$6,049,788$2,766,183$31,780,210
91$48,978,011$6,213,288$2,725,910$34,773,240
92$53,836,640$6,380,611$2,680,100$38,065,745
93$59,186,529$6,551,813$2,628,436$41,688,159
94$65,077,652$6,726,949$2,570,585$45,674,023
95$71,565,074$6,906,070$2,506,201$50,060,295
96$78,709,472$7,089,228$2,434,919$54,887,702
97$86,577,708$7,276,470$2,356,359$60,201,129
98$95,243,460$7,467,844$2,270,123$66,050,032
99$104,787,916$7,663,391$2,175,795$72,488,918
100$115,300,540$7,863,153$2,072,941$79,577,847