Can I retire at age 58 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$198,190$196,424$194,702$193,021$191,379$187,592
2 years$98,114$96,286$94,516$92,799$91,133$87,333
3 years$64,759$62,924$61,158$59,457$57,819$54,125
4 years$48,086$46,256$44,507$42,835$41,237$37,678
5 years$38,084$36,265$34,539$32,902$31,347$27,933
6 years$31,418$29,613$27,913$26,312$24,804$21,538
7 years$26,659$24,869$23,196$21,632$20,172$17,056
8 years$23,091$21,318$19,672$18,147$16,735$13,767
9 years$20,318$18,561$16,943$15,457$14,093$11,271
10 years$18,100$16,360$14,772$13,324$12,008$9,330
11 years$16,287$14,565$13,005$11,596$10,327$7,790
12 years$14,777$13,072$11,541$10,171$8,950$6,549
13 years$13,500$11,814$10,311$8,980$7,804$5,536
14 years$12,407$10,738$9,265$7,971$6,841$4,701
15 years$11,460$9,810$8,365$7,109$6,023$4,008
16 years$10,633$9,000$7,584$6,365$5,324$3,427
17 years$9,904$8,289$6,901$5,719$4,720$2,939
18 years$9,256$7,659$6,300$5,154$4,197$2,525
19 years$8,677$7,099$5,767$4,657$3,741$2,174
20 years$8,157$6,596$5,293$4,218$3,341$1,875
21 years$7,687$6,144$4,868$3,828$2,990$1,619
22 years$7,260$5,735$4,487$3,481$2,680$1,400
23 years$6,871$5,364$4,143$3,170$2,406$1,212
24 years$6,515$5,026$3,832$2,891$2,163$1,050
25 years$6,188$4,717$3,549$2,640$1,946$910
26 years$5,886$4,433$3,291$2,414$1,753$789
27 years$5,607$4,172$3,056$2,210$1,580$685
28 years$5,349$3,931$2,841$2,025$1,426$595
29 years$5,109$3,708$2,644$1,857$1,288$517
30 years$4,885$3,502$2,463$1,704$1,163$449
31 years$4,677$3,311$2,296$1,565$1,052$390
32 years$4,481$3,133$2,142$1,438$951$339
33 years$4,298$2,967$2,000$1,323$861$295
34 years$4,126$2,812$1,869$1,217$780$257
35 years$3,964$2,667$1,747$1,120$706$223
36 years$3,812$2,531$1,634$1,032$640$194
37 years$3,668$2,404$1,530$951$580$169
38 years$3,532$2,285$1,433$876$526$147
39 years$3,403$2,173$1,342$808$477$128
40 years$3,281$2,067$1,258$745$432$112
41 years$3,165$1,968$1,180$687$392$97
42 years$3,056$1,874$1,107$634$356$85
43 years$2,951$1,785$1,038$586$323$74
44 years$2,852$1,702$975$541$293$64
45 years$2,757$1,623$915$499$266$56
46 years$2,666$1,548$860$461$242$49
47 years$2,580$1,477$808$426$219$42
48 years$2,498$1,410$759$394$199$37
49 years$2,419$1,347$713$364$181$32
50 years$2,343$1,287$671$336$164$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,400,000, adding $3,184 every year, while hoping to spend $30,053 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: 55/24/21 Blend
57$2,400,000$2,400,000$2,400,000$2,400,000
58$2,648,084$2,520,884$2,483,684$2,778,462
59$2,886,213$2,612,431$2,534,912$2,959,599
60$3,147,623$2,707,457$2,586,848$3,153,311
61$3,434,658$2,806,100$2,639,485$3,363,619
62$3,749,899$2,908,505$2,692,813$3,592,122
63$4,096,189$3,014,822$2,746,823$3,840,580
64$4,476,661$3,125,209$2,801,502$4,110,927
65$4,894,764$3,239,828$2,856,836$4,405,294
66$5,354,301$3,358,850$2,912,811$4,726,023
67$5,859,459$3,482,453$2,969,409$5,075,695
68$6,414,852$3,610,822$3,026,613$5,457,149
69$7,025,564$3,744,149$3,084,401$5,873,510
70$7,697,194$3,882,635$3,142,752$6,328,217
71$8,435,915$4,026,491$3,201,640$6,825,060
72$9,248,523$4,175,934$3,261,040$7,368,207
73$10,142,510$4,331,192$3,320,923$7,962,250
74$11,126,129$4,492,504$3,381,257$8,612,244
75$12,208,473$4,660,115$3,442,008$9,323,756
76$13,399,562$4,834,285$3,503,139$10,102,915
77$14,710,435$5,015,283$3,564,612$10,956,473
78$16,153,257$5,203,390$3,626,385$11,891,864
79$17,741,431$5,398,898$3,688,410$12,917,275
80$19,489,726$5,602,113$3,750,641$14,041,725
81$21,414,415$5,813,353$3,813,025$15,275,145
82$23,533,430$6,032,952$3,875,505$16,628,475
83$25,866,528$6,261,255$3,938,023$18,113,767
84$28,435,483$6,498,625$4,000,516$19,744,292
85$31,264,283$6,745,439$4,062,914$21,534,672
86$34,379,365$7,002,091$4,125,147$23,501,014
87$37,809,859$7,268,991$4,187,138$25,661,059
88$41,587,862$7,546,570$4,248,805$28,034,354
89$45,748,746$7,835,274$4,310,062$30,642,430
90$50,331,486$8,135,570$4,370,817$33,509,009
91$55,379,032$8,447,947$4,430,973$36,660,223
92$60,938,709$8,772,912$4,490,427$40,124,864
93$67,062,671$9,110,998$4,549,069$43,934,651
94$73,808,385$9,462,759$4,606,785$48,124,531
95$81,239,180$9,828,774$4,663,452$52,733,005
96$89,424,839$10,209,647$4,718,941$57,802,496
97$98,442,263$10,606,010$4,773,115$63,379,740
98$108,376,191$11,018,521$4,825,831$69,516,234
99$119,320,003$11,447,869$4,876,937$76,268,716
100$131,376,601$11,894,773$4,926,273$83,699,701