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

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$196,538$194,788$193,080$191,412$189,785$186,181
2 years$97,296$95,484$93,728$92,025$90,374$86,757
3 years$64,220$62,400$60,648$58,961$57,337$53,820
4 years$47,685$45,871$44,136$42,478$40,893$37,503
5 years$37,766$35,963$34,252$32,627$31,086$27,833
6 years$31,156$29,367$27,680$26,092$24,597$21,485
7 years$26,437$24,662$23,003$21,452$20,004$17,032
8 years$22,899$21,140$19,508$17,996$16,596$13,764
9 years$20,148$18,406$16,802$15,328$13,976$11,282
10 years$17,949$16,224$14,649$13,213$11,908$9,351
11 years$16,151$14,443$12,896$11,499$10,241$7,817
12 years$14,654$12,964$11,445$10,086$8,875$6,580
13 years$13,388$11,715$10,226$8,905$7,739$5,570
14 years$12,304$10,649$9,188$7,905$6,784$4,737
15 years$11,365$9,728$8,295$7,050$5,973$4,043
16 years$10,544$8,925$7,521$6,312$5,279$3,463
17 years$9,821$8,220$6,844$5,671$4,681$2,973
18 years$9,179$7,595$6,247$5,111$4,162$2,559
19 years$8,605$7,039$5,719$4,618$3,710$2,206
20 years$8,089$6,541$5,249$4,183$3,314$1,906
21 years$7,623$6,093$4,828$3,796$2,965$1,648
22 years$7,199$5,688$4,450$3,452$2,658$1,427
23 years$6,814$5,319$4,108$3,143$2,386$1,237
24 years$6,460$4,984$3,800$2,867$2,145$1,073
25 years$6,136$4,677$3,519$2,618$1,930$932
26 years$5,837$4,396$3,264$2,394$1,738$810
27 years$5,561$4,137$3,031$2,191$1,567$704
28 years$5,305$3,898$2,818$2,008$1,414$612
29 years$5,066$3,678$2,622$1,841$1,277$533
30 years$4,845$3,473$2,442$1,690$1,154$464
31 years$4,638$3,283$2,277$1,552$1,043$404
32 years$4,444$3,107$2,124$1,426$944$352
33 years$4,262$2,942$1,983$1,311$854$306
34 years$4,092$2,788$1,853$1,207$773$267
35 years$3,931$2,645$1,733$1,111$700$233
36 years$3,780$2,510$1,621$1,023$634$203
37 years$3,637$2,384$1,517$943$575$177
38 years$3,502$2,266$1,421$869$521$154
39 years$3,375$2,155$1,331$801$473$134
40 years$3,254$2,050$1,248$739$429$117
41 years$3,139$1,951$1,170$682$389$102
42 years$3,030$1,858$1,097$629$353$89
43 years$2,926$1,771$1,030$581$320$78
44 years$2,828$1,688$967$536$291$68
45 years$2,734$1,609$908$495$264$59
46 years$2,644$1,535$852$457$240$52
47 years$2,559$1,465$801$423$218$45
48 years$2,477$1,399$753$391$198$39
49 years$2,399$1,336$707$361$180$34
50 years$2,324$1,276$665$334$163$30

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 $6,219 every year, while hoping to spend $56,252 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: 43/41/16 Blend
57$2,380,000$2,380,000$2,380,000$2,380,000
58$2,629,175$2,503,035$2,466,145$2,729,748
59$2,837,499$2,565,832$2,488,909$2,863,830
60$3,065,187$2,629,821$2,510,550$3,002,953
61$3,314,154$2,695,000$2,530,972$3,152,473
62$3,586,510$2,761,367$2,550,072$3,313,373
63$3,884,577$2,828,918$2,567,743$3,486,733
64$4,210,913$2,897,643$2,583,871$3,673,744
65$4,568,333$2,967,535$2,598,338$3,875,716
66$4,959,940$3,038,581$2,611,018$4,094,092
67$5,389,147$3,110,765$2,621,781$4,330,465
68$5,859,718$3,184,070$2,630,488$4,586,584
69$6,375,795$3,258,475$2,636,995$4,864,382
70$6,941,940$3,333,954$2,641,149$5,165,983
71$7,563,180$3,410,480$2,642,790$5,493,733
72$8,245,052$3,488,021$2,641,750$5,850,211
73$8,993,653$3,566,540$2,637,855$6,238,265
74$9,815,701$3,645,995$2,630,918$6,661,028
75$10,718,595$3,726,342$2,620,747$7,121,956
76$11,710,488$3,807,529$2,607,138$7,624,857
77$12,800,360$3,889,500$2,589,879$8,173,926
78$13,998,104$3,972,193$2,568,748$8,773,789
79$15,314,620$4,055,540$2,543,509$9,429,541
80$16,761,914$4,139,464$2,513,920$10,146,801
81$18,353,216$4,223,885$2,479,723$10,931,760
82$20,103,101$4,308,712$2,440,651$11,791,241
83$22,027,627$4,393,848$2,396,422$12,732,766
84$24,144,486$4,479,188$2,346,743$13,764,625
85$26,473,170$4,564,615$2,291,306$14,895,953
86$29,035,158$4,650,005$2,229,789$16,136,823
87$31,854,113$4,735,224$2,161,856$17,498,333
88$34,956,108$4,820,126$2,087,154$18,992,718
89$38,369,872$4,904,554$2,005,315$20,633,464
90$42,127,060$4,988,338$1,915,954$22,435,435
91$46,262,550$5,071,296$1,818,668$24,415,012
92$50,814,774$5,153,233$1,713,037$26,590,255
93$55,826,078$5,233,939$1,598,621$28,981,066
94$61,343,124$5,313,187$1,474,960$31,609,384
95$67,417,325$5,390,737$1,341,575$34,499,388
96$74,105,337$5,466,328$1,197,962$37,677,732
97$81,469,587$5,539,684$1,043,600$41,173,791
98$89,578,864$5,610,507$877,939$45,019,945
99$98,508,968$5,678,481$700,410$49,251,880
100$108,343,423$5,743,268$510,414$53,908,933