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

Use the below retirement simulation to view the chances of a successful retirement.
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%15%
1 years$194,887$193,151$191,457$189,804$188,190$184,315
2 years$96,479$94,682$92,940$91,252$89,614$85,728
3 years$63,680$61,876$60,139$58,466$56,855$53,078
4 years$47,284$45,485$43,765$42,121$40,549$36,912
5 years$37,449$35,661$33,964$32,353$30,825$27,337
6 years$30,895$29,120$27,448$25,873$24,391$21,056
7 years$26,215$24,455$22,809$21,272$19,836$16,655
8 years$22,706$20,962$19,344$17,844$16,456$13,427
9 years$19,979$18,251$16,661$15,199$13,858$10,980
10 years$17,798$16,088$14,525$13,102$11,808$9,078
11 years$16,015$14,322$12,788$11,403$10,155$7,570
12 years$14,531$12,855$11,349$10,002$8,800$6,355
13 years$13,275$11,617$10,140$8,830$7,674$5,365
14 years$12,200$10,559$9,110$7,838$6,727$4,550
15 years$11,269$9,646$8,226$6,990$5,923$3,874
16 years$10,456$8,850$7,458$6,259$5,235$3,308
17 years$9,738$8,151$6,786$5,624$4,642$2,832
18 years$9,102$7,532$6,195$5,068$4,127$2,430
19 years$8,532$6,980$5,671$4,580$3,679$2,089
20 years$8,021$6,486$5,205$4,148$3,286$1,799
21 years$7,559$6,042$4,787$3,764$2,940$1,551
22 years$7,139$5,640$4,412$3,423$2,636$1,339
23 years$6,756$5,275$4,074$3,117$2,366$1,157
24 years$6,406$4,942$3,768$2,843$2,127$1,001
25 years$6,084$4,638$3,490$2,596$1,914$866
26 years$5,788$4,359$3,236$2,374$1,724$750
27 years$5,514$4,102$3,005$2,173$1,554$650
28 years$5,260$3,866$2,794$1,991$1,402$563
29 years$5,024$3,647$2,600$1,826$1,266$489
30 years$4,804$3,444$2,422$1,675$1,144$424
31 years$4,599$3,256$2,258$1,539$1,034$368
32 years$4,407$3,080$2,106$1,414$936$319
33 years$4,226$2,917$1,967$1,300$847$277
34 years$4,057$2,765$1,838$1,197$767$241
35 years$3,898$2,622$1,718$1,101$694$209
36 years$3,748$2,489$1,607$1,014$629$182
37 years$3,607$2,364$1,504$935$570$158
38 years$3,473$2,247$1,409$862$517$137
39 years$3,346$2,136$1,320$794$469$119
40 years$3,226$2,033$1,237$733$425$104
41 years$3,113$1,935$1,160$676$386$90
42 years$3,005$1,843$1,088$624$350$78
43 years$2,902$1,756$1,021$576$318$68
44 years$2,804$1,674$958$532$288$59
45 years$2,711$1,596$900$491$262$51
46 years$2,622$1,522$845$454$238$45
47 years$2,537$1,453$794$419$216$39
48 years$2,456$1,387$746$387$196$34
49 years$2,378$1,324$701$358$178$29
50 years$2,304$1,265$659$331$162$26

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 $5,241 every year, while hoping to spend $53,774 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: 49/33/18 Blend
57$2,360,000$2,360,000$2,360,000$2,360,000
58$2,606,126$2,481,046$2,444,466$2,720,474
59$2,814,736$2,545,402$2,469,141$2,864,507
60$3,042,821$2,611,110$2,492,839$3,014,953
61$3,292,313$2,678,177$2,515,473$3,177,235
62$3,565,335$2,746,614$2,536,947$3,352,486
63$3,864,227$2,816,426$2,557,163$3,541,952
64$4,191,566$2,887,619$2,576,016$3,747,007
65$4,550,188$2,960,195$2,593,395$3,969,165
66$4,943,220$3,034,157$2,609,186$4,210,092
67$5,374,101$3,109,503$2,623,267$4,471,623
68$5,846,622$3,186,232$2,635,509$4,755,780
69$6,364,958$3,264,338$2,645,779$5,064,792
70$6,933,707$3,343,813$2,653,936$5,401,111
71$7,557,933$3,424,648$2,659,830$5,767,443
72$8,243,215$3,506,829$2,663,308$6,166,766
73$8,995,699$3,590,339$2,664,204$6,602,362
74$9,822,153$3,675,159$2,662,349$7,077,849
75$10,730,037$3,761,266$2,657,561$7,597,212
76$11,727,564$3,848,631$2,649,653$8,164,842
77$12,823,785$3,937,224$2,638,426$8,785,580
78$14,028,671$4,027,008$2,623,673$9,464,758
79$15,353,207$4,117,943$2,605,178$10,208,253
80$16,809,494$4,209,982$2,582,711$11,022,543
81$18,410,866$4,303,074$2,556,035$11,914,765
82$20,172,012$4,397,163$2,524,900$12,892,784
83$22,109,117$4,492,183$2,489,044$13,965,270
84$24,240,012$4,588,066$2,448,192$15,141,777
85$26,584,346$4,684,733$2,402,059$16,432,834
86$29,163,765$4,782,101$2,350,344$17,850,045
87$32,002,121$4,880,076$2,292,732$19,406,199
88$35,125,694$4,978,556$2,228,896$21,115,392
89$38,563,441$5,077,432$2,158,490$22,993,157
90$42,347,269$5,176,583$2,081,156$25,056,615
91$46,512,333$5,275,879$1,996,518$27,324,635
92$51,097,372$5,375,177$1,904,182$29,818,012
93$56,145,070$5,474,327$1,803,738$32,559,666
94$61,702,459$5,573,161$1,694,755$35,574,858
95$67,821,365$5,671,501$1,576,785$38,891,427
96$74,558,896$5,769,156$1,449,358$42,540,056
97$81,977,976$5,865,918$1,311,985$46,554,561
98$90,147,947$5,961,564$1,164,153$50,972,213
99$99,145,213$6,055,857$1,005,328$55,834,088
100$109,053,968$6,148,538$834,951$61,185,456