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%14.2%
1 years$196,538$194,788$193,080$191,412$189,785$186,487
2 years$97,296$95,484$93,728$92,025$90,374$87,062
3 years$64,220$62,400$60,648$58,961$57,337$54,114
4 years$47,685$45,871$44,136$42,478$40,893$37,785
5 years$37,766$35,963$34,252$32,627$31,086$28,101
6 years$31,156$29,367$27,680$26,092$24,597$21,738
7 years$26,437$24,662$23,003$21,452$20,004$17,272
8 years$22,899$21,140$19,508$17,996$16,596$13,990
9 years$20,148$18,406$16,802$15,328$13,976$11,495
10 years$17,949$16,224$14,649$13,213$11,908$9,550
11 years$16,151$14,443$12,896$11,499$10,241$8,004
12 years$14,654$12,964$11,445$10,086$8,875$6,755
13 years$13,388$11,715$10,226$8,905$7,739$5,733
14 years$12,304$10,649$9,188$7,905$6,784$4,889
15 years$11,365$9,728$8,295$7,050$5,973$4,185
16 years$10,544$8,925$7,521$6,312$5,279$3,594
17 years$9,821$8,220$6,844$5,671$4,681$3,095
18 years$9,179$7,595$6,247$5,111$4,162$2,671
19 years$8,605$7,039$5,719$4,618$3,710$2,310
20 years$8,089$6,541$5,249$4,183$3,314$2,001
21 years$7,623$6,093$4,828$3,796$2,965$1,736
22 years$7,199$5,688$4,450$3,452$2,658$1,508
23 years$6,814$5,319$4,108$3,143$2,386$1,311
24 years$6,460$4,984$3,800$2,867$2,145$1,141
25 years$6,136$4,677$3,519$2,618$1,930$994
26 years$5,837$4,396$3,264$2,394$1,738$866
27 years$5,561$4,137$3,031$2,191$1,567$755
28 years$5,305$3,898$2,818$2,008$1,414$659
29 years$5,066$3,678$2,622$1,841$1,277$575
30 years$4,845$3,473$2,442$1,690$1,154$502
31 years$4,638$3,283$2,277$1,552$1,043$439
32 years$4,444$3,107$2,124$1,426$944$384
33 years$4,262$2,942$1,983$1,311$854$335
34 years$4,092$2,788$1,853$1,207$773$293
35 years$3,931$2,645$1,733$1,111$700$256
36 years$3,780$2,510$1,621$1,023$634$224
37 years$3,637$2,384$1,517$943$575$196
38 years$3,502$2,266$1,421$869$521$172
39 years$3,375$2,155$1,331$801$473$150
40 years$3,254$2,050$1,248$739$429$131
41 years$3,139$1,951$1,170$682$389$115
42 years$3,030$1,858$1,097$629$353$101
43 years$2,926$1,771$1,030$581$320$88
44 years$2,828$1,688$967$536$291$77
45 years$2,734$1,609$908$495$264$67
46 years$2,644$1,535$852$457$240$59
47 years$2,559$1,465$801$423$218$52
48 years$2,477$1,399$753$391$198$45
49 years$2,399$1,336$707$361$180$40
50 years$2,324$1,276$665$334$163$35

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 $4,569 every year, while hoping to spend $27,243 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: 49/30/21 Blend
57$2,380,000$2,380,000$2,380,000$2,380,000
58$2,627,473$2,501,333$2,464,443$2,740,485
59$2,866,489$2,594,912$2,518,015$2,913,042
60$3,128,971$2,692,163$2,572,470$3,097,266
61$3,417,285$2,793,238$2,627,806$3,296,835
62$3,734,035$2,898,294$2,684,025$3,513,206
63$4,082,092$3,007,495$2,741,125$3,747,980
64$4,464,617$3,121,014$2,799,104$4,002,918
65$4,885,093$3,239,029$2,857,959$4,279,956
66$5,347,358$3,361,727$2,917,686$4,581,225
67$5,855,640$3,489,303$2,978,280$4,909,067
68$6,414,596$3,621,959$3,039,733$5,266,061
69$7,029,358$3,759,909$3,102,038$5,655,042
70$7,705,582$3,903,373$3,165,185$6,079,131
71$8,449,495$4,052,583$3,229,163$6,541,764
72$9,267,963$4,207,779$3,293,959$7,046,718
73$10,168,549$4,369,213$3,359,560$7,598,156
74$11,159,584$4,537,148$3,425,949$8,200,654
75$12,250,252$4,711,858$3,493,108$8,859,254
76$13,450,667$4,893,629$3,561,017$9,579,504
77$14,771,978$5,082,760$3,629,654$10,367,512
78$16,226,467$5,279,563$3,698,995$11,230,005
79$17,827,668$5,484,363$3,769,012$12,174,386
80$19,590,494$5,697,500$3,839,678$13,208,810
81$21,531,377$5,919,330$3,910,959$14,342,254
82$23,668,423$6,150,223$3,982,822$15,584,604
83$26,021,585$6,390,566$4,055,229$16,946,749
84$28,612,847$6,640,764$4,128,140$18,440,678
85$31,466,435$6,901,239$4,201,510$20,079,596
86$34,609,044$7,172,433$4,275,293$21,878,047
87$38,070,090$7,454,805$4,349,439$23,852,048
88$41,881,986$7,748,838$4,423,892$26,019,243
89$46,080,451$8,055,034$4,498,596$28,399,065
90$50,704,845$8,373,918$4,573,486$31,012,918
91$55,798,539$8,706,040$4,648,498$33,884,381
92$61,409,326$9,051,972$4,723,559$37,039,426
93$67,589,873$9,412,314$4,798,593$40,506,665
94$74,398,215$9,787,692$4,873,521$44,317,614
95$81,898,303$10,178,760$4,948,255$48,506,995
96$90,160,613$10,586,201$5,022,703$53,113,056
97$99,262,801$11,010,731$5,096,770$58,177,937
98$109,290,445$11,453,095$5,170,350$63,748,059
99$120,337,849$11,914,075$5,243,335$69,874,566
100$132,508,930$12,394,486$5,315,608$76,613,804