Can I retire at age 58 with 2,380,000?

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 $2,380,000?

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$196,538$194,788$193,080$191,412$189,785$185,877
2 years$97,296$95,484$93,728$92,025$90,374$86,454
3 years$64,220$62,400$60,648$58,961$57,337$53,528
4 years$47,685$45,871$44,136$42,478$40,893$37,225
5 years$37,766$35,963$34,252$32,627$31,086$27,568
6 years$31,156$29,367$27,680$26,092$24,597$21,234
7 years$26,437$24,662$23,003$21,452$20,004$16,796
8 years$22,899$21,140$19,508$17,996$16,596$13,541
9 years$20,148$18,406$16,802$15,328$13,976$11,073
10 years$17,949$16,224$14,649$13,213$11,908$9,155
11 years$16,151$14,443$12,896$11,499$10,241$7,634
12 years$14,654$12,964$11,445$10,086$8,875$6,409
13 years$13,388$11,715$10,226$8,905$7,739$5,411
14 years$12,304$10,649$9,188$7,905$6,784$4,589
15 years$11,365$9,728$8,295$7,050$5,973$3,907
16 years$10,544$8,925$7,521$6,312$5,279$3,336
17 years$9,821$8,220$6,844$5,671$4,681$2,856
18 years$9,179$7,595$6,247$5,111$4,162$2,451
19 years$8,605$7,039$5,719$4,618$3,710$2,107
20 years$8,089$6,541$5,249$4,183$3,314$1,814
21 years$7,623$6,093$4,828$3,796$2,965$1,564
22 years$7,199$5,688$4,450$3,452$2,658$1,351
23 years$6,814$5,319$4,108$3,143$2,386$1,167
24 years$6,460$4,984$3,800$2,867$2,145$1,009
25 years$6,136$4,677$3,519$2,618$1,930$874
26 years$5,837$4,396$3,264$2,394$1,738$756
27 years$5,561$4,137$3,031$2,191$1,567$655
28 years$5,305$3,898$2,818$2,008$1,414$568
29 years$5,066$3,678$2,622$1,841$1,277$493
30 years$4,845$3,473$2,442$1,690$1,154$428
31 years$4,638$3,283$2,277$1,552$1,043$371
32 years$4,444$3,107$2,124$1,426$944$322
33 years$4,262$2,942$1,983$1,311$854$280
34 years$4,092$2,788$1,853$1,207$773$243
35 years$3,931$2,645$1,733$1,111$700$211
36 years$3,780$2,510$1,621$1,023$634$183
37 years$3,637$2,384$1,517$943$575$159
38 years$3,502$2,266$1,421$869$521$138
39 years$3,375$2,155$1,331$801$473$120
40 years$3,254$2,050$1,248$739$429$104
41 years$3,139$1,951$1,170$682$389$91
42 years$3,030$1,858$1,097$629$353$79
43 years$2,926$1,771$1,030$581$320$69
44 years$2,828$1,688$967$536$291$60
45 years$2,734$1,609$908$495$264$52
46 years$2,644$1,535$852$457$240$45
47 years$2,559$1,465$801$423$218$39
48 years$2,477$1,399$753$391$198$34
49 years$2,399$1,336$707$361$180$30
50 years$2,324$1,276$665$334$163$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,380,000, adding $2,893 every year, while hoping to spend $51,320 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: 67/22/11 Blend
57$2,380,000$2,380,000$2,380,000$2,380,000
58$2,625,744$2,499,604$2,462,714$2,795,277
59$2,838,966$2,567,481$2,490,611$2,976,312
60$3,072,216$2,636,963$2,517,722$3,167,790
61$3,327,484$2,708,076$2,543,968$3,375,806
62$3,606,959$2,780,843$2,569,262$3,601,974
63$3,913,053$2,855,288$2,593,516$3,848,069
64$4,248,421$2,931,434$2,616,636$4,116,048
65$4,615,988$3,009,303$2,638,521$4,408,062
66$5,018,975$3,088,915$2,659,068$4,726,483
67$5,460,929$3,170,291$2,678,166$5,073,924
68$5,945,759$3,253,450$2,695,699$5,453,261
69$6,477,767$3,338,410$2,711,546$5,867,661
70$7,061,695$3,425,187$2,725,578$6,320,614
71$7,702,764$3,513,798$2,737,661$6,815,964
72$8,406,727$3,604,254$2,747,654$7,357,946
73$9,179,919$3,696,569$2,755,406$7,951,224
74$10,029,322$3,790,752$2,760,764$8,600,937
75$10,962,625$3,886,811$2,763,562$9,312,745
76$11,988,300$3,984,752$2,763,628$10,092,886
77$13,115,680$4,084,578$2,760,783$10,948,232
78$14,355,046$4,186,290$2,754,836$11,886,351
79$15,717,728$4,289,884$2,745,589$12,915,586
80$17,216,204$4,395,357$2,732,835$14,045,127
81$18,864,226$4,502,698$2,716,354$15,285,099
82$20,676,943$4,611,896$2,695,918$16,646,660
83$22,671,047$4,722,935$2,671,287$18,142,103
84$24,864,929$4,835,794$2,642,210$19,784,974
85$27,278,852$4,950,448$2,608,424$21,590,198
86$29,935,143$5,066,868$2,569,655$23,574,222
87$32,858,401$5,185,019$2,525,612$25,755,170
88$36,075,734$5,304,860$2,475,995$28,153,011
89$39,617,005$5,426,345$2,420,488$30,789,750
90$43,515,126$5,549,422$2,358,760$33,689,635
91$47,806,356$5,674,031$2,290,466$36,879,388
92$52,530,651$5,800,105$2,215,244$40,388,452
93$57,732,038$5,927,571$2,132,715$44,249,274
94$63,459,029$6,056,345$2,042,483$48,497,610
95$69,765,080$6,186,336$1,944,137$53,172,860
96$76,709,095$6,317,443$1,837,242$58,318,444
97$84,355,981$6,449,556$1,721,348$63,982,208
98$92,777,259$6,582,553$1,595,982$70,216,878
99$102,051,743$6,716,302$1,460,651$77,080,559
100$112,266,277$6,850,657$1,314,839$84,637,281