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%15.9%
1 years$200,667$198,880$197,136$195,434$193,772$189,087
2 years$99,340$97,490$95,697$93,958$92,272$87,581
3 years$65,569$63,711$61,922$60,200$58,541$53,990
4 years$48,687$46,834$45,064$43,371$41,752$37,375
5 years$38,560$36,719$34,971$33,313$31,739$27,549
6 years$31,811$29,983$28,262$26,641$25,114$21,116
7 years$26,992$25,180$23,486$21,903$20,425$16,618
8 years$23,380$21,584$19,918$18,374$16,944$13,327
9 years$20,571$18,793$17,155$15,650$14,269$10,840
10 years$18,326$16,565$14,956$13,491$12,158$8,912
11 years$16,490$14,747$13,167$11,741$10,457$7,389
12 years$14,962$13,236$11,686$10,298$9,061$6,167
13 years$13,669$11,961$10,440$9,092$7,902$5,176
14 years$12,562$10,873$9,381$8,071$6,927$4,363
15 years$11,604$9,932$8,469$7,198$6,099$3,691
16 years$10,766$9,113$7,679$6,445$5,390$3,132
17 years$10,027$8,392$6,987$5,791$4,779$2,664
18 years$9,372$7,755$6,379$5,218$4,249$2,271
19 years$8,786$7,187$5,839$4,715$3,788$1,939
20 years$8,259$6,679$5,359$4,271$3,383$1,658
21 years$7,783$6,221$4,929$3,876$3,028$1,420
22 years$7,351$5,807$4,543$3,524$2,714$1,217
23 years$6,957$5,431$4,195$3,209$2,436$1,045
24 years$6,596$5,089$3,879$2,927$2,190$897
25 years$6,265$4,775$3,593$2,673$1,970$771
26 years$5,960$4,488$3,332$2,444$1,775$663
27 years$5,677$4,224$3,094$2,237$1,600$570
28 years$5,416$3,980$2,877$2,050$1,444$491
29 years$5,173$3,755$2,677$1,880$1,304$422
30 years$4,946$3,546$2,494$1,725$1,178$364
31 years$4,735$3,352$2,325$1,584$1,065$313
32 years$4,537$3,172$2,169$1,456$963$270
33 years$4,352$3,004$2,025$1,339$872$233
34 years$4,178$2,847$1,892$1,232$789$200
35 years$4,014$2,700$1,769$1,134$715$173
36 years$3,859$2,563$1,655$1,045$648$149
37 years$3,714$2,434$1,549$962$587$128
38 years$3,576$2,313$1,451$887$532$111
39 years$3,446$2,200$1,359$818$483$96
40 years$3,322$2,093$1,274$754$438$82
41 years$3,205$1,992$1,194$696$397$71
42 years$3,094$1,897$1,120$642$360$61
43 years$2,988$1,808$1,051$593$327$53
44 years$2,887$1,723$987$548$297$46
45 years$2,791$1,643$927$506$270$39
46 years$2,700$1,568$870$467$245$34
47 years$2,612$1,496$818$432$222$29
48 years$2,529$1,428$768$399$202$25
49 years$2,449$1,364$722$369$183$22
50 years$2,373$1,303$679$341$166$19

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 $3,401 every year, while hoping to spend $50,677 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: 49/21/30 Blend
57$2,430,000$2,430,000$2,430,000$2,430,000
58$2,681,368$2,552,578$2,514,913$2,789,695
59$2,900,948$2,623,735$2,545,243$2,937,380
60$3,141,226$2,696,679$2,574,890$3,092,506
61$3,404,261$2,771,446$2,603,778$3,260,090
62$3,692,318$2,848,069$2,631,827$3,441,338
63$4,007,892$2,926,583$2,658,952$3,637,579
64$4,353,733$3,007,021$2,685,062$3,850,277
65$4,732,866$3,089,417$2,710,064$4,081,043
66$5,148,625$3,173,805$2,733,858$4,331,655
67$5,604,680$3,260,217$2,756,338$4,604,070
68$6,105,077$3,348,687$2,777,394$4,900,445
69$6,654,269$3,439,247$2,796,911$5,223,156
70$7,257,162$3,531,928$2,814,765$5,574,822
71$7,919,161$3,626,761$2,830,829$5,958,327
72$8,646,220$3,723,777$2,844,966$6,376,853
73$9,444,897$3,823,004$2,857,035$6,833,902
74$10,322,417$3,924,472$2,866,886$7,333,336
75$11,286,740$4,028,207$2,874,363$7,879,412
76$12,346,633$4,134,236$2,879,300$8,476,817
77$13,511,759$4,242,582$2,881,525$9,130,721
78$14,792,758$4,353,269$2,880,857$9,846,820
79$16,201,358$4,466,318$2,877,104$10,631,391
80$17,750,477$4,581,748$2,870,067$11,491,353
81$19,454,348$4,699,576$2,859,537$12,434,330
82$21,328,654$4,819,817$2,845,294$13,468,725
83$23,390,673$4,942,484$2,827,107$14,603,802
84$25,659,442$5,067,587$2,804,736$15,849,766
85$28,155,938$5,195,131$2,777,928$17,217,868
86$30,903,272$5,325,121$2,746,417$18,720,506
87$33,926,910$5,457,557$2,709,926$20,371,347
88$37,254,912$5,592,434$2,668,166$22,185,450
89$40,918,195$5,729,745$2,620,831$24,179,415
90$44,950,826$5,869,477$2,567,604$26,371,537
91$49,390,343$6,011,615$2,508,152$28,781,978
92$54,278,109$6,156,135$2,442,125$31,432,960
93$59,659,700$6,303,009$2,369,161$34,348,977
94$65,585,338$6,452,205$2,288,876$37,557,020
95$72,110,362$6,603,683$2,200,873$41,086,840
96$79,295,751$6,757,396$2,104,735$44,971,225
97$87,208,699$6,913,290$2,000,025$49,246,311
98$95,923,248$7,071,303$1,886,288$53,951,926
99$105,520,989$7,231,366$1,763,047$59,131,964
100$116,091,826$7,393,399$1,629,805$64,834,800