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%14.1%
1 years$194,887$193,151$191,457$189,804$188,190$184,996
2 years$96,479$94,682$92,940$91,252$89,614$86,406
3 years$63,680$61,876$60,139$58,466$56,855$53,733
4 years$47,284$45,485$43,765$42,121$40,549$37,537
5 years$37,449$35,661$33,964$32,353$30,825$27,931
6 years$30,895$29,120$27,448$25,873$24,391$21,619
7 years$26,215$24,455$22,809$21,272$19,836$17,187
8 years$22,706$20,962$19,344$17,844$16,456$13,929
9 years$19,979$18,251$16,661$15,199$13,858$11,452
10 years$17,798$16,088$14,525$13,102$11,808$9,520
11 years$16,015$14,322$12,788$11,403$10,155$7,984
12 years$14,531$12,855$11,349$10,002$8,800$6,742
13 years$13,275$11,617$10,140$8,830$7,674$5,726
14 years$12,200$10,559$9,110$7,838$6,727$4,886
15 years$11,269$9,646$8,226$6,990$5,923$4,185
16 years$10,456$8,850$7,458$6,259$5,235$3,597
17 years$9,738$8,151$6,786$5,624$4,642$3,099
18 years$9,102$7,532$6,195$5,068$4,127$2,677
19 years$8,532$6,980$5,671$4,580$3,679$2,317
20 years$8,021$6,486$5,205$4,148$3,286$2,009
21 years$7,559$6,042$4,787$3,764$2,940$1,744
22 years$7,139$5,640$4,412$3,423$2,636$1,516
23 years$6,756$5,275$4,074$3,117$2,366$1,319
24 years$6,406$4,942$3,768$2,843$2,127$1,149
25 years$6,084$4,638$3,490$2,596$1,914$1,001
26 years$5,788$4,359$3,236$2,374$1,724$873
27 years$5,514$4,102$3,005$2,173$1,554$762
28 years$5,260$3,866$2,794$1,991$1,402$666
29 years$5,024$3,647$2,600$1,826$1,266$582
30 years$4,804$3,444$2,422$1,675$1,144$508
31 years$4,599$3,256$2,258$1,539$1,034$444
32 years$4,407$3,080$2,106$1,414$936$389
33 years$4,226$2,917$1,967$1,300$847$340
34 years$4,057$2,765$1,838$1,197$767$298
35 years$3,898$2,622$1,718$1,101$694$260
36 years$3,748$2,489$1,607$1,014$629$228
37 years$3,607$2,364$1,504$935$570$200
38 years$3,473$2,247$1,409$862$517$175
39 years$3,346$2,136$1,320$794$469$153
40 years$3,226$2,033$1,237$733$425$134
41 years$3,113$1,935$1,160$676$386$117
42 years$3,005$1,843$1,088$624$350$103
43 years$2,902$1,756$1,021$576$318$90
44 years$2,804$1,674$958$532$288$79
45 years$2,711$1,596$900$491$262$69
46 years$2,622$1,522$845$454$238$61
47 years$2,537$1,453$794$419$216$53
48 years$2,456$1,387$746$387$196$46
49 years$2,378$1,324$701$358$178$41
50 years$2,304$1,265$659$331$162$36

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 $5,638 every year, while hoping to spend $57,866 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: 72/20/8 Blend
57$2,360,000$2,360,000$2,360,000$2,360,000
58$2,606,536$2,481,456$2,444,876$2,790,382
59$2,810,833$2,541,478$2,465,210$2,972,543
60$3,034,030$2,602,502$2,484,286$3,164,183
61$3,277,992$2,664,516$2,502,001$3,372,399
62$3,544,775$2,727,504$2,518,245$3,598,811
63$3,836,641$2,791,451$2,532,906$3,845,200
64$4,156,082$2,856,336$2,545,861$4,113,530
65$4,505,841$2,922,135$2,556,986$4,405,962
66$4,888,939$2,988,822$2,566,148$4,724,876
67$5,308,704$3,056,367$2,573,207$5,072,896
68$5,768,799$3,124,737$2,578,017$5,452,909
69$6,273,260$3,193,892$2,580,424$5,868,097
70$6,826,531$3,263,792$2,580,267$6,321,964
71$7,433,508$3,334,389$2,577,377$6,818,370
72$8,099,583$3,405,631$2,571,576$7,361,570
73$8,830,695$3,477,461$2,562,678$7,956,247
74$9,633,387$3,549,818$2,550,489$8,607,564
75$10,514,865$3,622,631$2,534,803$9,321,209
76$11,483,068$3,695,827$2,515,405$10,103,446
77$12,546,742$3,769,324$2,492,073$10,961,180
78$13,715,521$3,843,032$2,464,569$11,902,018
79$15,000,020$3,916,856$2,432,647$12,934,340
80$16,411,931$3,990,691$2,396,050$14,067,382
81$17,964,138$4,064,425$2,354,507$15,311,318
82$19,670,832$4,137,934$2,307,736$16,677,363
83$21,547,651$4,211,087$2,255,439$18,177,870
84$23,611,824$4,283,742$2,197,308$19,826,454
85$25,882,330$4,355,746$2,133,019$21,638,118
86$28,380,085$4,426,935$2,062,232$23,629,392
87$31,128,130$4,497,131$1,984,593$25,818,494
88$34,151,854$4,566,145$1,899,731$28,225,497
89$37,479,230$4,633,773$1,807,259$30,872,523
90$41,141,081$4,699,797$1,706,772$33,783,948
91$45,171,368$4,763,984$1,597,846$36,986,636
92$49,607,512$4,826,084$1,480,039$40,510,188
93$54,490,746$4,885,830$1,352,888$44,387,227
94$59,866,503$4,942,937$1,215,910$48,653,701
95$65,784,845$4,997,099$1,068,601$53,349,227
96$72,300,934$5,047,992$910,434$58,517,462
97$79,475,554$5,095,268$740,859$64,206,516
98$87,375,683$5,138,559$559,300$70,469,407
99$96,075,125$5,177,470$365,159$77,364,562
100$105,655,204$5,211,582$157,808$84,956,369