Can I retire at age 58 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$195,712$193,969$192,268$190,608$188,987$185,399
2 years$96,887$95,083$93,334$91,639$89,994$86,393
3 years$63,950$62,138$60,393$58,714$57,096$53,594
4 years$47,484$45,678$43,951$42,300$40,721$37,346
5 years$37,608$35,812$34,108$32,490$30,956$27,716
6 years$31,025$29,243$27,564$25,983$24,494$21,394
7 years$26,326$24,558$22,906$21,362$19,920$16,961
8 years$22,802$21,051$19,426$17,920$16,526$13,706
9 years$20,064$18,329$16,732$15,264$13,917$11,235
10 years$17,874$16,156$14,587$13,158$11,858$9,311
11 years$16,083$14,383$12,842$11,451$10,198$7,784
12 years$14,592$12,909$11,397$10,044$8,838$6,552
13 years$13,332$11,666$10,183$8,867$7,707$5,546
14 years$12,252$10,604$9,149$7,872$6,756$4,717
15 years$11,317$9,687$8,260$7,020$5,948$4,026
16 years$10,500$8,888$7,489$6,286$5,257$3,448
17 years$9,780$8,185$6,815$5,648$4,661$2,961
18 years$9,140$7,564$6,221$5,090$4,145$2,548
19 years$8,569$7,010$5,695$4,599$3,694$2,197
20 years$8,055$6,514$5,227$4,165$3,300$1,898
21 years$7,591$6,067$4,808$3,780$2,953$1,641
22 years$7,169$5,664$4,431$3,437$2,647$1,421
23 years$6,785$5,297$4,091$3,130$2,376$1,232
24 years$6,433$4,963$3,784$2,855$2,136$1,069
25 years$6,110$4,658$3,504$2,607$1,922$928
26 years$5,813$4,377$3,250$2,384$1,731$806
27 years$5,537$4,120$3,018$2,182$1,561$701
28 years$5,282$3,882$2,806$1,999$1,408$609
29 years$5,045$3,662$2,611$1,833$1,272$530
30 years$4,824$3,458$2,432$1,683$1,149$462
31 years$4,618$3,269$2,267$1,545$1,039$402
32 years$4,425$3,094$2,115$1,420$940$350
33 years$4,244$2,930$1,975$1,306$850$305
34 years$4,074$2,777$1,845$1,202$770$266
35 years$3,915$2,634$1,725$1,106$697$232
36 years$3,764$2,500$1,614$1,019$632$202
37 years$3,622$2,374$1,511$939$573$176
38 years$3,488$2,256$1,415$865$519$153
39 years$3,361$2,145$1,325$798$471$134
40 years$3,240$2,041$1,242$736$427$117
41 years$3,126$1,943$1,165$679$387$102
42 years$3,017$1,851$1,093$626$352$89
43 years$2,914$1,763$1,025$578$319$77
44 years$2,816$1,681$963$534$290$68
45 years$2,722$1,603$904$493$263$59
46 years$2,633$1,529$849$456$239$51
47 years$2,548$1,459$797$421$217$45
48 years$2,466$1,393$749$389$197$39
49 years$2,388$1,330$704$359$179$34
50 years$2,314$1,271$662$332$162$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,370,000, adding $6,533 every year, while hoping to spend $20,721 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: 21/49/30 Blend
57$2,370,000$2,370,000$2,370,000$2,370,000
58$2,618,479$2,492,869$2,456,134$2,648,478
59$2,863,517$2,592,972$2,516,367$2,776,912
60$3,132,854$2,697,287$2,577,924$2,911,984
61$3,428,947$2,805,996$2,640,827$3,055,927
62$3,754,503$2,919,293$2,705,098$3,209,471
63$4,112,503$3,037,379$2,770,760$3,373,418
64$4,506,234$3,160,466$2,837,835$3,548,643
65$4,939,313$3,288,772$2,906,346$3,736,104
66$5,415,731$3,422,530$2,976,316$3,936,849
67$5,939,880$3,561,978$3,047,767$4,152,027
68$6,516,602$3,707,369$3,120,722$4,382,894
69$7,151,232$3,858,967$3,195,202$4,630,826
70$7,849,647$4,017,046$3,271,231$4,897,332
71$8,618,323$4,181,893$3,348,830$5,184,067
72$9,464,397$4,353,811$3,428,021$5,492,842
73$10,395,731$4,533,113$3,508,825$5,825,645
74$11,420,989$4,720,129$3,591,264$6,184,658
75$12,549,718$4,915,203$3,675,359$6,572,273
76$13,792,436$5,118,695$3,761,130$6,991,117
77$15,160,734$5,330,982$3,848,599$7,444,071
78$16,667,386$5,552,456$3,937,783$7,934,299
79$18,326,464$5,783,532$4,028,704$8,465,277
80$20,153,477$6,024,638$4,121,379$9,040,821
81$22,165,513$6,276,227$4,215,826$9,665,123
82$24,381,402$6,538,769$4,312,064$10,342,788
83$26,821,895$6,812,759$4,410,108$11,078,878
84$29,509,857$7,098,712$4,509,975$11,878,954
85$32,470,483$7,397,169$4,611,679$12,749,129
86$35,731,537$7,708,695$4,715,235$13,696,123
87$39,323,614$8,033,882$4,820,656$14,727,325
88$43,280,428$8,373,347$4,927,953$15,850,859
89$47,639,129$8,727,739$5,037,138$17,075,659
90$52,440,658$9,097,736$5,148,219$18,411,549
91$57,730,126$9,484,046$5,261,205$19,869,337
92$63,557,246$9,887,411$5,376,103$21,460,911
93$69,976,799$10,308,609$5,492,917$23,199,349
94$77,049,154$10,748,452$5,611,651$25,099,041
95$84,840,833$11,207,791$5,732,306$27,175,820
96$93,425,142$11,687,517$5,854,882$29,447,106
97$102,882,862$12,188,561$5,979,377$31,932,075
98$113,303,013$12,711,900$6,105,785$34,651,826
99$124,783,692$13,258,554$6,234,100$37,629,583
100$137,432,998$13,829,593$6,364,313$40,890,911