Can I retire at age 58 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$203,970$202,153$200,381$198,651$196,961$189,371
2 years$100,975$99,095$97,272$95,505$93,791$86,235
3 years$66,648$64,760$62,942$61,191$59,505$52,220
4 years$49,488$47,605$45,805$44,085$42,439$35,481
5 years$39,195$37,323$35,547$33,861$32,262$25,649
6 years$32,335$30,477$28,727$27,079$25,528$19,264
7 years$27,436$25,595$23,872$22,263$20,761$14,844
8 years$23,765$21,939$20,246$18,676$17,223$11,648
9 years$20,910$19,102$17,438$15,908$14,504$9,263
10 years$18,628$16,838$15,202$13,713$12,358$7,441
11 years$16,762$14,989$13,384$11,934$10,629$6,023
12 years$15,208$13,454$11,878$10,468$9,211$4,906
13 years$13,894$12,158$10,612$9,242$8,032$4,015
14 years$12,769$11,052$9,535$8,204$7,041$3,298
15 years$11,795$10,096$8,609$7,316$6,199$2,718
16 years$10,943$9,263$7,805$6,551$5,479$2,246
17 years$10,192$8,531$7,102$5,886$4,858$1,859
18 years$9,526$7,883$6,484$5,304$4,319$1,542
19 years$8,930$7,306$5,935$4,793$3,850$1,281
20 years$8,395$6,789$5,447$4,341$3,439$1,065
21 years$7,911$6,323$5,010$3,940$3,077$886
22 years$7,472$5,903$4,618$3,582$2,758$738
23 years$7,071$5,521$4,264$3,262$2,476$615
24 years$6,705$5,172$3,943$2,975$2,226$513
25 years$6,368$4,854$3,652$2,717$2,003$428
26 years$6,058$4,562$3,387$2,485$1,804$357
27 years$5,771$4,293$3,145$2,274$1,626$298
28 years$5,505$4,046$2,924$2,084$1,468$249
29 years$5,258$3,817$2,721$1,911$1,325$208
30 years$5,028$3,604$2,535$1,754$1,197$174
31 years$4,813$3,407$2,363$1,611$1,083$145
32 years$4,612$3,224$2,205$1,480$979$121
33 years$4,423$3,053$2,058$1,361$886$101
34 years$4,246$2,894$1,923$1,252$802$85
35 years$4,080$2,745$1,798$1,153$727$71
36 years$3,923$2,605$1,682$1,062$658$59
37 years$3,775$2,474$1,574$978$597$49
38 years$3,635$2,351$1,474$902$541$41
39 years$3,502$2,236$1,381$831$491$35
40 years$3,377$2,127$1,295$767$445$29
41 years$3,258$2,025$1,214$707$404$24
42 years$3,145$1,929$1,139$653$366$20
43 years$3,037$1,838$1,069$603$332$17
44 years$2,935$1,752$1,003$557$302$14
45 years$2,837$1,670$942$514$274$12
46 years$2,744$1,593$885$475$249$10
47 years$2,655$1,521$831$439$226$8
48 years$2,570$1,452$781$405$205$7
49 years$2,489$1,386$734$375$186$6
50 years$2,412$1,324$690$346$169$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,470,000, adding $4,803 every year, while hoping to spend $22,541 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: 66/8/26 Blend
57$2,470,000$2,470,000$2,470,000$2,470,000
58$2,726,894$2,595,984$2,557,699$2,888,063
59$2,981,054$2,699,204$2,619,399$3,100,474
60$3,260,383$2,806,726$2,682,410$3,329,650
61$3,567,423$2,918,738$2,746,752$3,579,719
62$3,904,979$3,035,434$2,812,446$3,852,740
63$4,276,135$3,157,019$2,879,512$4,150,980
64$4,684,295$3,283,706$2,947,969$4,476,938
65$5,133,204$3,415,719$3,017,838$4,833,362
66$5,626,992$3,553,291$3,089,137$5,223,280
67$6,170,208$3,696,665$3,161,885$5,650,028
68$6,767,864$3,846,096$3,236,103$6,117,275
69$7,425,482$4,001,850$3,311,808$6,629,067
70$8,149,147$4,164,207$3,389,020$7,189,858
71$8,945,562$4,333,456$3,467,755$7,804,552
72$9,822,117$4,509,902$3,548,031$8,478,554
73$10,786,949$4,693,863$3,629,866$9,217,814
74$11,849,027$4,885,672$3,713,277$10,028,888
75$13,018,235$5,085,677$3,798,279$10,918,998
76$14,305,461$5,294,242$3,884,887$11,896,098
77$15,722,705$5,511,746$3,973,117$12,968,950
78$17,283,186$5,738,587$4,062,982$14,147,210
79$19,001,475$5,975,182$4,154,496$15,441,510
80$20,893,625$6,221,965$4,247,671$16,863,568
81$22,977,325$6,479,391$4,342,518$18,426,290
82$25,272,067$6,747,937$4,439,048$20,143,897
83$27,799,332$7,028,099$4,537,270$22,032,054
84$30,582,787$7,320,400$4,637,192$24,108,024
85$33,648,515$7,625,382$4,738,821$26,390,823
86$37,025,254$7,943,617$4,842,162$28,901,403
87$40,744,675$8,275,700$4,947,220$31,662,851
88$44,841,677$8,622,254$5,053,997$34,700,601
89$49,354,717$8,983,933$5,162,494$38,042,680
90$54,326,170$9,361,418$5,272,710$41,719,965
91$59,802,736$9,755,424$5,384,643$45,766,482
92$65,835,874$10,166,698$5,498,286$50,219,718
93$72,482,289$10,596,023$5,613,635$55,120,981
94$79,804,470$11,044,215$5,730,679$60,515,786
95$87,871,276$11,512,132$5,849,408$66,454,286
96$96,758,590$12,000,670$5,969,806$72,991,741
97$106,550,029$12,510,766$6,091,858$80,189,045
98$117,337,740$13,043,402$6,215,543$88,113,294
99$129,223,266$13,599,605$6,340,840$96,838,421
100$142,318,503$14,180,449$6,467,722$106,445,897