Can I retire at age 58 with 2,430,000?

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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$200,667$198,880$197,136$195,434$193,772$192,874
2 years$99,340$97,490$95,697$93,958$92,272$91,366
3 years$65,569$63,711$61,922$60,200$58,541$57,655
4 years$48,687$46,834$45,064$43,371$41,752$40,892
5 years$38,560$36,719$34,971$33,313$31,739$30,908
6 years$31,811$29,983$28,262$26,641$25,114$24,313
7 years$26,992$25,180$23,486$21,903$20,425$19,654
8 years$23,380$21,584$19,918$18,374$16,944$16,204
9 years$20,571$18,793$17,155$15,650$14,269$13,560
10 years$18,326$16,565$14,956$13,491$12,158$11,479
11 years$16,490$14,747$13,167$11,741$10,457$9,807
12 years$14,962$13,236$11,686$10,298$9,061$8,441
13 years$13,669$11,961$10,440$9,092$7,902$7,309
14 years$12,562$10,873$9,381$8,071$6,927$6,362
15 years$11,604$9,932$8,469$7,198$6,099$5,561
16 years$10,766$9,113$7,679$6,445$5,390$4,879
17 years$10,027$8,392$6,987$5,791$4,779$4,294
18 years$9,372$7,755$6,379$5,218$4,249$3,789
19 years$8,786$7,187$5,839$4,715$3,788$3,351
20 years$8,259$6,679$5,359$4,271$3,383$2,970
21 years$7,783$6,221$4,929$3,876$3,028$2,637
22 years$7,351$5,807$4,543$3,524$2,714$2,344
23 years$6,957$5,431$4,195$3,209$2,436$2,087
24 years$6,596$5,089$3,879$2,927$2,190$1,861
25 years$6,265$4,775$3,593$2,673$1,970$1,660
26 years$5,960$4,488$3,332$2,444$1,775$1,483
27 years$5,677$4,224$3,094$2,237$1,600$1,326
28 years$5,416$3,980$2,877$2,050$1,444$1,186
29 years$5,173$3,755$2,677$1,880$1,304$1,061
30 years$4,946$3,546$2,494$1,725$1,178$951
31 years$4,735$3,352$2,325$1,584$1,065$852
32 years$4,537$3,172$2,169$1,456$963$764
33 years$4,352$3,004$2,025$1,339$872$685
34 years$4,178$2,847$1,892$1,232$789$615
35 years$4,014$2,700$1,769$1,134$715$552
36 years$3,859$2,563$1,655$1,045$648$495
37 years$3,714$2,434$1,549$962$587$445
38 years$3,576$2,313$1,451$887$532$399
39 years$3,446$2,200$1,359$818$483$359
40 years$3,322$2,093$1,274$754$438$322
41 years$3,205$1,992$1,194$696$397$290
42 years$3,094$1,897$1,120$642$360$261
43 years$2,988$1,808$1,051$593$327$234
44 years$2,887$1,723$987$548$297$211
45 years$2,791$1,643$927$506$270$189
46 years$2,700$1,568$870$467$245$170
47 years$2,612$1,496$818$432$222$153
48 years$2,529$1,428$768$399$202$138
49 years$2,449$1,364$722$369$183$124
50 years$2,373$1,303$679$341$166$111

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,430,000, adding $6,349 every year, while hoping to spend $38,239 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: 66/21/13 Blend
57$2,430,000$2,430,000$2,430,000$2,430,000
58$2,684,409$2,555,619$2,517,954$2,853,165
59$2,917,533$2,640,158$2,561,619$3,051,082
60$3,173,153$2,727,558$2,605,466$3,262,249
61$3,453,526$2,817,919$2,649,460$3,492,094
62$3,761,132$2,911,344$2,693,563$3,742,440
63$4,098,708$3,007,940$2,737,738$4,015,295
64$4,469,265$3,107,819$2,781,941$4,312,869
65$4,876,123$3,211,094$2,826,129$4,637,595
66$5,322,936$3,317,887$2,870,254$4,992,152
67$5,813,733$3,428,320$2,914,264$5,379,488
68$6,352,947$3,542,522$2,958,106$5,802,853
69$6,945,468$3,660,625$3,001,722$6,265,821
70$7,596,678$3,782,768$3,045,052$6,772,330
71$8,312,509$3,909,094$3,088,031$7,326,719
72$9,099,495$4,039,749$3,130,590$7,933,762
73$9,964,835$4,174,889$3,172,657$8,598,721
74$10,916,462$4,314,672$3,214,155$9,327,388
75$11,963,114$4,459,264$3,255,002$10,126,147
76$13,114,420$4,608,836$3,295,112$11,002,025
77$14,380,987$4,763,565$3,334,395$11,962,766
78$15,774,504$4,923,637$3,372,754$13,016,898
79$17,307,850$5,089,241$3,410,087$14,173,818
80$18,995,214$5,260,578$3,446,289$15,443,874
81$20,852,231$5,437,851$3,481,244$16,838,469
82$22,896,128$5,621,275$3,514,836$18,370,164
83$25,145,887$5,811,072$3,546,937$20,052,797
84$27,622,424$6,007,471$3,577,415$21,901,612
85$30,348,785$6,210,710$3,606,132$23,933,407
86$33,350,364$6,421,038$3,632,941$26,166,685
87$36,655,143$6,638,711$3,657,686$28,621,836
88$40,293,955$6,863,996$3,680,207$31,321,321
89$44,300,776$7,097,169$3,700,331$34,289,890
90$48,713,043$7,338,518$3,717,880$37,554,811
91$53,572,010$7,588,341$3,732,665$41,146,129
92$58,923,133$7,846,948$3,744,487$45,096,948
93$64,816,504$8,114,660$3,753,139$49,443,744
94$71,307,321$8,391,812$3,758,403$54,226,707
95$78,456,406$8,678,749$3,760,047$59,490,121
96$86,330,783$8,975,832$3,757,833$65,282,781
97$95,004,310$9,283,434$3,751,507$71,658,453
98$104,558,371$9,601,944$3,740,804$78,676,381
99$115,082,651$9,931,765$3,725,447$86,401,845
100$126,675,976$10,273,316$3,705,144$94,906,778