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

Use the below retirement simulation to view the chances of a successful retirement.
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%14.8%
1 years$200,667$198,880$197,136$195,434$193,772$189,937
2 years$99,340$97,490$95,697$93,958$92,272$88,425
3 years$65,569$63,711$61,922$60,200$58,541$54,802
4 years$48,687$46,834$45,064$43,371$41,752$38,149
5 years$38,560$36,719$34,971$33,313$31,739$28,282
6 years$31,811$29,983$28,262$26,641$25,114$21,808
7 years$26,992$25,180$23,486$21,903$20,425$17,269
8 years$23,380$21,584$19,918$18,374$16,944$13,939
9 years$20,571$18,793$17,155$15,650$14,269$11,412
10 years$18,326$16,565$14,956$13,491$12,158$9,447
11 years$16,490$14,747$13,167$11,741$10,457$7,887
12 years$14,962$13,236$11,686$10,298$9,061$6,630
13 years$13,669$11,961$10,440$9,092$7,902$5,605
14 years$12,562$10,873$9,381$8,071$6,927$4,760
15 years$11,604$9,932$8,469$7,198$6,099$4,058
16 years$10,766$9,113$7,679$6,445$5,390$3,470
17 years$10,027$8,392$6,987$5,791$4,779$2,975
18 years$9,372$7,755$6,379$5,218$4,249$2,557
19 years$8,786$7,187$5,839$4,715$3,788$2,202
20 years$8,259$6,679$5,359$4,271$3,383$1,899
21 years$7,783$6,221$4,929$3,876$3,028$1,639
22 years$7,351$5,807$4,543$3,524$2,714$1,417
23 years$6,957$5,431$4,195$3,209$2,436$1,227
24 years$6,596$5,089$3,879$2,927$2,190$1,063
25 years$6,265$4,775$3,593$2,673$1,970$921
26 years$5,960$4,488$3,332$2,444$1,775$799
27 years$5,677$4,224$3,094$2,237$1,600$693
28 years$5,416$3,980$2,877$2,050$1,444$602
29 years$5,173$3,755$2,677$1,880$1,304$523
30 years$4,946$3,546$2,494$1,725$1,178$455
31 years$4,735$3,352$2,325$1,584$1,065$395
32 years$4,537$3,172$2,169$1,456$963$344
33 years$4,352$3,004$2,025$1,339$872$299
34 years$4,178$2,847$1,892$1,232$789$260
35 years$4,014$2,700$1,769$1,134$715$226
36 years$3,859$2,563$1,655$1,045$648$197
37 years$3,714$2,434$1,549$962$587$171
38 years$3,576$2,313$1,451$887$532$149
39 years$3,446$2,200$1,359$818$483$130
40 years$3,322$2,093$1,274$754$438$113
41 years$3,205$1,992$1,194$696$397$98
42 years$3,094$1,897$1,120$642$360$86
43 years$2,988$1,808$1,051$593$327$75
44 years$2,887$1,723$987$548$297$65
45 years$2,791$1,643$927$506$270$57
46 years$2,700$1,568$870$467$245$49
47 years$2,612$1,496$818$432$222$43
48 years$2,529$1,428$768$399$202$37
49 years$2,449$1,364$722$369$183$33
50 years$2,373$1,303$679$341$166$28

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 $6,405 every year, while hoping to spend $51,933 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: 72/19/9 Blend
57$2,430,000$2,430,000$2,430,000$2,430,000
58$2,684,467$2,555,677$2,518,012$2,872,981
59$2,903,026$2,625,649$2,547,109$3,068,353
60$3,142,138$2,697,309$2,575,440$3,275,141
61$3,403,844$2,770,684$2,602,925$3,500,124
62$3,690,391$2,845,804$2,629,479$3,745,083
63$4,004,257$2,922,693$2,655,012$4,011,980
64$4,348,166$3,001,380$2,679,430$4,302,975
65$4,725,121$3,081,891$2,702,633$4,620,446
66$5,138,430$3,164,249$2,724,517$4,967,011
67$5,591,733$3,248,481$2,744,972$5,345,556
68$6,089,042$3,334,609$2,763,881$5,759,258
69$6,634,776$3,422,656$2,781,122$6,211,615
70$7,233,801$3,512,644$2,796,568$6,706,481
71$7,891,479$3,604,594$2,810,083$7,248,102
72$8,613,714$3,698,523$2,821,525$7,841,155
73$9,407,013$3,794,451$2,830,746$8,490,790
74$10,278,540$3,892,391$2,837,589$9,202,682
75$11,236,193$3,992,359$2,841,889$9,983,084
76$12,288,666$4,094,367$2,843,474$10,838,883
77$13,445,543$4,198,424$2,842,164$11,777,666
78$14,717,380$4,304,538$2,837,768$12,807,794
79$16,115,807$4,412,714$2,830,086$13,938,476
80$17,653,636$4,522,955$2,818,911$15,179,862
81$19,344,985$4,635,258$2,804,024$16,543,131
82$21,205,409$4,749,621$2,785,193$18,040,603
83$23,252,044$4,866,035$2,762,180$19,685,851
84$25,503,771$4,984,490$2,734,732$21,493,832
85$27,981,395$5,104,969$2,702,585$23,481,025
86$30,707,839$5,227,454$2,665,463$25,665,588
87$33,708,358$5,351,919$2,623,076$28,067,529
88$37,010,782$5,478,335$2,575,121$30,708,896
89$40,645,776$5,606,667$2,521,281$33,613,982
90$44,647,125$5,736,873$2,461,224$36,809,556
91$49,052,059$5,868,907$2,394,602$40,325,117
92$53,901,601$6,002,716$2,321,053$44,193,168
93$59,240,952$6,138,237$2,240,197$48,449,528
94$65,119,921$6,275,402$2,151,635$53,133,667
95$71,593,391$6,414,135$2,054,953$58,289,077
96$78,721,839$6,554,350$1,949,716$63,963,686
97$86,571,906$6,695,952$1,835,470$70,210,309
98$95,217,022$6,838,836$1,711,741$77,087,145
99$104,738,107$6,982,887$1,578,033$84,658,329
100$115,224,324$7,127,979$1,433,827$92,994,534