Can I retire at age 58 with 2,410,000?

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 $2,410,000?

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$199,016$197,243$195,513$193,825$192,177$188,374
2 years$98,523$96,688$94,909$93,185$91,513$87,697
3 years$65,029$63,186$61,413$59,705$58,059$54,351
4 years$48,286$46,449$44,693$43,014$41,408$37,835
5 years$38,243$36,416$34,683$33,039$31,478$28,050
6 years$31,549$29,737$28,029$26,421$24,908$21,628
7 years$26,770$24,973$23,292$21,722$20,256$17,127
8 years$23,187$21,406$19,754$18,222$16,805$13,824
9 years$20,402$18,638$17,014$15,521$14,152$11,318
10 years$18,175$16,429$14,833$13,380$12,058$9,369
11 years$16,355$14,625$13,059$11,644$10,370$7,822
12 years$14,839$13,127$11,589$10,214$8,987$6,576
13 years$13,557$11,863$10,354$9,017$7,837$5,559
14 years$12,459$10,783$9,303$8,004$6,870$4,721
15 years$11,508$9,851$8,400$7,138$6,049$4,025
16 years$10,677$9,038$7,616$6,392$5,346$3,442
17 years$9,945$8,323$6,930$5,743$4,740$2,951
18 years$9,294$7,691$6,326$5,176$4,214$2,536
19 years$8,713$7,128$5,791$4,677$3,756$2,183
20 years$8,191$6,624$5,315$4,236$3,355$1,883
21 years$7,719$6,170$4,889$3,844$3,003$1,626
22 years$7,290$5,759$4,506$3,495$2,691$1,406
23 years$6,899$5,387$4,160$3,183$2,416$1,217
24 years$6,542$5,047$3,848$2,903$2,172$1,054
25 years$6,213$4,736$3,564$2,651$1,954$914
26 years$5,911$4,451$3,305$2,424$1,760$792
27 years$5,631$4,189$3,069$2,219$1,587$688
28 years$5,371$3,947$2,853$2,033$1,432$597
29 years$5,130$3,724$2,655$1,864$1,293$519
30 years$4,906$3,517$2,473$1,711$1,168$451
31 years$4,696$3,325$2,306$1,571$1,056$392
32 years$4,500$3,146$2,151$1,444$955$341
33 years$4,316$2,979$2,008$1,328$865$296
34 years$4,143$2,823$1,877$1,222$783$258
35 years$3,981$2,678$1,755$1,125$709$224
36 years$3,828$2,542$1,641$1,036$642$195
37 years$3,683$2,414$1,536$954$582$170
38 years$3,547$2,294$1,439$880$528$148
39 years$3,417$2,182$1,348$811$479$129
40 years$3,295$2,076$1,263$748$434$112
41 years$3,179$1,976$1,185$690$394$98
42 years$3,068$1,882$1,111$637$357$85
43 years$2,963$1,793$1,043$588$324$74
44 years$2,863$1,709$979$543$294$64
45 years$2,768$1,630$919$501$267$56
46 years$2,677$1,555$863$463$243$49
47 years$2,591$1,484$811$428$220$43
48 years$2,508$1,416$762$395$200$37
49 years$2,429$1,353$716$365$182$32
50 years$2,353$1,292$673$338$165$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,410,000, adding $3,291 every year, while hoping to spend $57,851 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: 71/9/20 Blend
57$2,410,000$2,410,000$2,410,000$2,410,000
58$2,659,215$2,531,485$2,494,130$2,834,873
59$2,868,902$2,593,974$2,516,130$3,014,809
60$3,098,038$2,657,587$2,536,928$3,204,556
61$3,348,545$2,722,317$2,556,424$3,410,866
62$3,622,542$2,788,156$2,574,509$3,635,373
63$3,922,359$2,855,092$2,591,072$3,879,876
64$4,250,561$2,923,114$2,605,995$4,146,358
65$4,609,976$2,992,204$2,619,154$4,437,004
66$5,003,716$3,062,345$2,630,418$4,754,219
67$5,435,209$3,133,513$2,639,650$5,100,656
68$5,908,229$3,205,684$2,646,707$5,479,236
69$6,426,933$3,278,828$2,651,437$5,893,178
70$6,995,902$3,352,912$2,653,681$6,346,030
71$7,620,178$3,427,898$2,653,274$6,841,699
72$8,305,317$3,503,746$2,650,040$7,384,493
73$9,057,439$3,580,409$2,643,795$7,979,157
74$9,883,283$3,657,835$2,634,348$8,630,922
75$10,790,277$3,735,968$2,621,498$9,345,550
76$11,786,599$3,814,744$2,605,032$10,129,392
77$12,881,261$3,894,096$2,584,729$10,989,447
78$14,084,190$3,973,947$2,560,358$11,933,427
79$15,406,323$4,054,215$2,531,675$12,969,831
80$16,859,708$4,134,812$2,498,426$14,108,026
81$18,457,619$4,215,638$2,460,344$15,358,334
82$20,214,681$4,296,590$2,417,151$16,732,129
83$22,147,007$4,377,551$2,368,554$18,241,949
84$24,272,348$4,458,397$2,314,247$19,901,606
85$26,610,264$4,538,995$2,253,910$21,726,328
86$29,182,304$4,619,200$2,187,210$23,732,892
87$32,012,214$4,698,855$2,113,796$25,939,789
88$35,126,153$4,777,792$2,033,302$28,367,398
89$38,552,948$4,855,832$1,945,345$31,038,176
90$42,324,360$4,932,779$1,849,525$33,976,874
91$46,475,385$5,008,425$1,745,425$37,210,766
92$51,044,584$5,082,547$1,632,605$40,769,914
93$56,074,445$5,154,905$1,510,611$44,687,444
94$61,611,786$5,225,244$1,378,965$48,999,864
95$67,708,195$5,293,288$1,237,167$53,747,411
96$74,420,516$5,358,744$1,084,697$58,974,424
97$81,811,386$5,421,299$921,012$64,729,770
98$89,949,823$5,480,619$745,542$71,067,304
99$98,911,882$5,536,346$557,694$78,046,374
100$108,781,367$5,588,100$356,850$85,732,388