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%11.8%
1 years$199,016$197,243$195,513$193,825$192,177$190,726
2 years$98,523$96,688$94,909$93,185$91,513$90,050
3 years$65,029$63,186$61,413$59,705$58,059$56,630
4 years$48,286$46,449$44,693$43,014$41,408$40,024
5 years$38,243$36,416$34,683$33,039$31,478$30,142
6 years$31,549$29,737$28,029$26,421$24,908$23,621
7 years$26,770$24,973$23,292$21,722$20,256$19,021
8 years$23,187$21,406$19,754$18,222$16,805$15,620
9 years$20,402$18,638$17,014$15,521$14,152$13,018
10 years$18,175$16,429$14,833$13,380$12,058$10,974
11 years$16,355$14,625$13,059$11,644$10,370$9,335
12 years$14,839$13,127$11,589$10,214$8,987$8,000
13 years$13,557$11,863$10,354$9,017$7,837$6,897
14 years$12,459$10,783$9,303$8,004$6,870$5,975
15 years$11,508$9,851$8,400$7,138$6,049$5,199
16 years$10,677$9,038$7,616$6,392$5,346$4,540
17 years$9,945$8,323$6,930$5,743$4,740$3,976
18 years$9,294$7,691$6,326$5,176$4,214$3,491
19 years$8,713$7,128$5,791$4,677$3,756$3,072
20 years$8,191$6,624$5,315$4,236$3,355$2,709
21 years$7,719$6,170$4,889$3,844$3,003$2,393
22 years$7,290$5,759$4,506$3,495$2,691$2,116
23 years$6,899$5,387$4,160$3,183$2,416$1,874
24 years$6,542$5,047$3,848$2,903$2,172$1,662
25 years$6,213$4,736$3,564$2,651$1,954$1,475
26 years$5,911$4,451$3,305$2,424$1,760$1,310
27 years$5,631$4,189$3,069$2,219$1,587$1,165
28 years$5,371$3,947$2,853$2,033$1,432$1,036
29 years$5,130$3,724$2,655$1,864$1,293$922
30 years$4,906$3,517$2,473$1,711$1,168$822
31 years$4,696$3,325$2,306$1,571$1,056$732
32 years$4,500$3,146$2,151$1,444$955$652
33 years$4,316$2,979$2,008$1,328$865$582
34 years$4,143$2,823$1,877$1,222$783$519
35 years$3,981$2,678$1,755$1,125$709$463
36 years$3,828$2,542$1,641$1,036$642$413
37 years$3,683$2,414$1,536$954$582$369
38 years$3,547$2,294$1,439$880$528$329
39 years$3,417$2,182$1,348$811$479$294
40 years$3,295$2,076$1,263$748$434$263
41 years$3,179$1,976$1,185$690$394$235
42 years$3,068$1,882$1,111$637$357$210
43 years$2,963$1,793$1,043$588$324$187
44 years$2,863$1,709$979$543$294$168
45 years$2,768$1,630$919$501$267$150
46 years$2,677$1,555$863$463$243$134
47 years$2,591$1,484$811$428$220$120
48 years$2,508$1,416$762$395$200$107
49 years$2,429$1,353$716$365$182$96
50 years$2,353$1,292$673$338$165$85

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 $6,686 every year, while hoping to spend $42,926 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: 81/6/13 Blend
57$2,410,000$2,410,000$2,410,000$2,410,000
58$2,662,717$2,534,987$2,497,632$2,871,295
59$2,888,641$2,613,528$2,535,629$3,087,735
60$3,136,171$2,694,479$2,573,461$3,318,992
61$3,407,464$2,777,913$2,611,077$3,571,593
62$3,704,899$2,863,904$2,648,421$3,847,657
63$4,031,094$2,952,530$2,685,438$4,149,518
64$4,388,931$3,043,870$2,722,066$4,479,747
65$4,781,588$3,138,006$2,758,241$4,841,177
66$5,212,563$3,235,021$2,793,895$5,236,926
67$5,685,709$3,335,002$2,828,956$5,670,431
68$6,205,273$3,438,039$2,863,348$6,145,475
69$6,775,931$3,544,223$2,896,989$6,666,230
70$7,402,834$3,653,647$2,929,796$7,237,287
71$8,091,657$3,766,410$2,961,679$7,863,707
72$8,848,653$3,882,611$2,992,542$8,551,065
73$9,680,709$4,002,353$3,022,285$9,305,501
74$10,595,414$4,125,741$3,050,805$10,133,783
75$11,601,128$4,252,884$3,077,988$11,043,364
76$12,707,062$4,383,894$3,103,720$12,042,458
77$13,923,363$4,518,886$3,127,876$13,140,114
78$15,261,213$4,657,978$3,150,326$14,346,302
79$16,732,930$4,801,293$3,170,936$15,672,009
80$18,352,087$4,948,954$3,189,560$17,129,337
81$20,133,639$5,101,092$3,206,049$18,731,625
82$22,094,063$5,257,838$3,220,245$20,493,567
83$24,251,513$5,419,328$3,231,979$22,431,356
84$26,625,996$5,585,703$3,241,078$24,562,833
85$29,239,551$5,757,106$3,247,358$26,907,657
86$32,116,467$5,933,686$3,250,626$29,487,493
87$35,283,504$6,115,594$3,250,680$32,326,209
88$38,770,151$6,302,988$3,247,307$35,450,109
89$42,608,899$6,496,027$3,240,285$38,888,177
90$46,835,552$6,694,877$3,229,379$42,672,350
91$51,489,560$6,899,708$3,214,345$46,837,821
92$56,614,396$7,110,694$3,194,926$51,423,371
93$62,257,961$7,328,015$3,170,853$56,471,735
94$68,473,040$7,551,855$3,141,844$62,030,001
95$75,317,798$7,782,404$3,107,603$68,150,062
96$82,856,326$8,019,855$3,067,821$74,889,098
97$91,159,253$8,264,408$3,022,174$82,310,123
98$100,304,402$8,516,270$2,970,323$90,482,573
99$110,377,534$8,775,651$2,911,912$99,482,963
100$121,473,152$9,042,766$2,846,570$109,395,614