Can I retire at age 58 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$197,364$195,606$193,891$192,217$190,582$188,200
2 years$97,705$95,885$94,122$92,412$90,753$88,357
3 years$64,490$62,662$60,903$59,209$57,578$55,241
4 years$47,885$46,063$44,322$42,657$41,065$38,806
5 years$37,925$36,114$34,396$32,765$31,217$29,042
6 years$31,287$29,490$27,797$26,202$24,701$22,613
7 years$26,548$24,766$23,099$21,542$20,088$18,088
8 years$22,995$21,229$19,590$18,071$16,665$14,752
9 years$20,233$18,483$16,873$15,393$14,035$12,208
10 years$18,025$16,292$14,710$13,269$11,958$10,217
11 years$16,219$14,504$12,951$11,548$10,284$8,627
12 years$14,715$13,018$11,493$10,129$8,912$7,337
13 years$13,444$11,764$10,268$8,942$7,772$6,277
14 years$12,355$10,694$9,226$7,938$6,813$5,395
15 years$11,413$9,769$8,330$7,079$5,998$4,656
16 years$10,589$8,963$7,552$6,339$5,301$4,032
17 years$9,862$8,254$6,872$5,695$4,701$3,502
18 years$9,217$7,627$6,274$5,133$4,180$3,049
19 years$8,641$7,069$5,743$4,638$3,725$2,660
20 years$8,123$6,569$5,271$4,200$3,327$2,325
21 years$7,655$6,119$4,848$3,812$2,978$2,035
22 years$7,230$5,711$4,468$3,466$2,669$1,784
23 years$6,842$5,342$4,126$3,157$2,396$1,566
24 years$6,488$5,005$3,816$2,879$2,154$1,375
25 years$6,162$4,697$3,534$2,629$1,938$1,209
26 years$5,862$4,414$3,278$2,404$1,746$1,064
27 years$5,584$4,154$3,044$2,201$1,574$937
28 years$5,327$3,915$2,829$2,016$1,420$826
29 years$5,088$3,693$2,633$1,849$1,282$728
30 years$4,865$3,488$2,453$1,697$1,159$642
31 years$4,657$3,297$2,286$1,558$1,047$566
32 years$4,463$3,120$2,133$1,432$948$500
33 years$4,280$2,954$1,992$1,317$858$441
34 years$4,109$2,800$1,861$1,212$776$390
35 years$3,948$2,656$1,740$1,115$703$344
36 years$3,796$2,521$1,628$1,027$637$304
37 years$3,653$2,394$1,523$947$577$269
38 years$3,517$2,275$1,427$872$524$238
39 years$3,389$2,164$1,337$804$475$210
40 years$3,268$2,058$1,253$742$431$186
41 years$3,152$1,959$1,175$685$391$164
42 years$3,043$1,866$1,102$632$354$145
43 years$2,939$1,778$1,034$583$322$128
44 years$2,840$1,695$971$538$292$114
45 years$2,745$1,616$911$497$265$100
46 years$2,655$1,542$856$459$241$89
47 years$2,569$1,471$804$424$219$79
48 years$2,487$1,405$756$392$198$70
49 years$2,409$1,341$710$362$180$61
50 years$2,333$1,281$668$335$164$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,390,000, adding $5,283 every year, while hoping to spend $42,010 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: 38/38/24 Blend
57$2,390,000$2,390,000$2,390,000$2,390,000
58$2,639,229$2,512,559$2,475,514$2,720,430
59$2,863,733$2,590,977$2,513,746$2,858,465
60$3,109,727$2,671,828$2,551,850$3,003,250
61$3,379,360$2,755,189$2,589,778$3,158,894
62$3,674,998$2,841,136$2,627,479$3,326,405
63$3,999,246$2,929,750$2,664,898$3,506,893
64$4,354,973$3,021,112$2,701,976$3,701,577
65$4,745,340$3,115,306$2,738,652$3,911,799
66$5,173,829$3,212,420$2,774,860$4,139,037
67$5,644,274$3,312,543$2,810,533$4,384,914
68$6,160,900$3,415,768$2,845,595$4,651,219
69$6,728,360$3,522,189$2,879,972$4,939,919
70$7,351,782$3,631,905$2,913,579$5,253,179
71$8,036,812$3,745,016$2,946,332$5,593,385
72$8,789,672$3,861,628$2,978,140$5,963,159
73$9,617,217$3,981,845$3,008,906$6,365,392
74$10,526,997$4,105,781$3,038,529$6,803,265
75$11,527,334$4,233,546$3,066,902$7,280,280
76$12,627,392$4,365,260$3,093,913$7,800,295
77$13,837,270$4,501,042$3,119,444$8,367,558
78$15,168,095$4,641,017$3,143,369$8,986,747
79$16,632,127$4,785,313$3,165,558$9,663,013
80$18,242,871$4,934,061$3,185,871$10,402,032
81$20,015,211$5,087,397$3,204,165$11,210,054
82$21,965,544$5,245,461$3,220,286$12,093,964
83$24,111,938$5,408,396$3,234,074$13,061,345
84$26,474,299$5,576,352$3,245,359$14,120,551
85$29,074,565$5,749,480$3,253,966$15,280,785
86$31,936,904$5,927,937$3,259,707$16,552,186
87$35,087,948$6,111,887$3,262,387$17,945,921
88$38,557,044$6,301,494$3,261,802$19,474,295
89$42,376,526$6,496,931$3,257,737$21,150,864
90$46,582,026$6,698,375$3,249,965$22,990,565
91$51,212,804$6,906,007$3,238,250$25,009,850
92$56,312,123$7,120,014$3,222,344$27,226,852
93$61,927,654$7,340,589$3,201,987$29,661,544
94$68,111,927$7,567,931$3,176,906$32,335,937
95$74,922,828$7,802,243$3,146,817$35,274,281
96$82,424,140$8,043,737$3,111,419$38,503,296
97$90,686,151$8,292,628$3,070,399$42,052,424
98$99,786,311$8,549,140$3,023,430$45,954,107
99$109,809,967$8,813,500$2,970,168$50,244,090
100$120,851,169$9,085,947$2,910,254$54,961,764