Can I retire at age 58 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$166,810$165,324$163,874$162,459$161,078$160,197
2 years$82,579$81,041$79,551$78,105$76,704$75,815
3 years$54,506$52,961$51,474$50,043$48,664$47,795
4 years$40,472$38,932$37,460$36,053$34,708$33,865
5 years$32,054$30,523$29,071$27,692$26,384$25,570
6 years$26,444$24,925$23,493$22,146$20,877$20,092
7 years$22,438$20,932$19,523$18,207$16,978$16,224
8 years$19,435$17,942$16,557$15,274$14,085$13,361
9 years$17,101$15,622$14,261$13,010$11,862$11,168
10 years$15,234$13,770$12,433$11,214$10,107$9,443
11 years$13,708$12,259$10,946$9,760$8,692$8,057
12 years$12,437$11,003$9,714$8,561$7,533$6,926
13 years$11,363$9,943$8,679$7,558$6,569$5,990
14 years$10,443$9,038$7,798$6,709$5,758$5,207
15 years$9,646$8,256$7,040$5,983$5,070$4,546
16 years$8,949$7,575$6,383$5,357$4,481$3,983
17 years$8,335$6,976$5,808$4,814$3,973$3,500
18 years$7,790$6,447$5,302$4,338$3,532$3,084
19 years$7,303$5,975$4,854$3,920$3,149$2,724
20 years$6,865$5,552$4,455$3,550$2,812$2,411
21 years$6,470$5,171$4,098$3,222$2,517$2,137
22 years$6,110$4,827$3,777$2,929$2,256$1,897
23 years$5,783$4,515$3,487$2,668$2,025$1,687
24 years$5,483$4,230$3,225$2,433$1,820$1,501
25 years$5,208$3,970$2,987$2,222$1,638$1,338
26 years$4,954$3,731$2,770$2,032$1,475$1,193
27 years$4,720$3,511$2,572$1,860$1,330$1,065
28 years$4,502$3,309$2,391$1,704$1,200$951
29 years$4,300$3,121$2,225$1,563$1,084$850
30 years$4,112$2,948$2,073$1,434$979$760
31 years$3,936$2,787$1,932$1,317$885$680
32 years$3,772$2,637$1,803$1,210$801$608
33 years$3,618$2,497$1,683$1,113$725$545
34 years$3,473$2,367$1,573$1,024$656$488
35 years$3,337$2,245$1,471$943$594$437
36 years$3,208$2,131$1,376$868$538$392
37 years$3,087$2,023$1,288$800$488$351
38 years$2,973$1,923$1,206$737$442$315
39 years$2,864$1,829$1,130$680$401$283
40 years$2,762$1,740$1,059$627$364$253
41 years$2,664$1,656$993$579$330$227
42 years$2,572$1,577$931$534$300$204
43 years$2,484$1,503$874$493$272$183
44 years$2,400$1,432$820$455$247$164
45 years$2,320$1,366$770$420$224$148
46 years$2,244$1,303$723$388$203$132
47 years$2,172$1,244$680$359$185$119
48 years$2,102$1,187$639$331$168$107
49 years$2,036$1,134$600$306$152$96
50 years$1,972$1,083$564$283$138$86

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,020,000, adding $6,149 every year, while hoping to spend $59,920 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: 34/43/23 Blend
57$2,020,000$2,020,000$2,020,000$2,020,000
58$2,232,383$2,125,323$2,094,013$2,292,453
59$2,396,331$2,165,709$2,100,408$2,378,067
60$2,574,994$2,206,066$2,105,009$2,464,433
61$2,769,810$2,246,329$2,107,692$2,556,357
62$2,982,359$2,286,428$2,108,329$2,654,370
63$3,214,385$2,326,288$2,106,783$2,759,057
64$3,467,804$2,365,828$2,102,912$2,871,067
65$3,744,726$2,404,960$2,096,565$2,991,116
66$4,047,475$2,443,590$2,087,588$3,119,995
67$4,378,610$2,481,618$2,075,814$3,258,577
68$4,740,946$2,518,936$2,061,072$3,407,829
69$5,137,586$2,555,427$2,043,181$3,568,818
70$5,571,945$2,590,968$2,021,953$3,742,723
71$6,047,783$2,625,425$1,997,188$3,930,845
72$6,569,243$2,658,657$1,968,681$4,134,624
73$7,140,887$2,690,512$1,936,212$4,355,650
74$7,767,738$2,720,828$1,899,556$4,595,676
75$8,455,330$2,749,432$1,858,474$4,856,643
76$9,209,758$2,776,138$1,812,717$5,140,691
77$10,037,735$2,800,750$1,762,025$5,450,185
78$10,946,656$2,823,059$1,706,125$5,787,738
79$11,944,667$2,842,841$1,644,732$6,156,232
80$13,040,741$2,859,858$1,577,548$6,558,851
81$14,244,762$2,873,856$1,504,261$6,999,112
82$15,567,620$2,884,568$1,424,546$7,480,896
83$17,021,311$2,891,706$1,338,063$8,008,487
84$18,619,052$2,894,966$1,244,454$8,586,616
85$20,375,401$2,894,025$1,143,349$9,220,504
86$22,306,400$2,888,540$1,034,359$9,915,914
87$24,429,721$2,878,147$917,079$10,679,208
88$26,764,834$2,862,458$791,083$11,517,406
89$29,333,193$2,841,064$655,930$12,438,255
90$32,158,433$2,813,530$511,157$13,450,306
91$35,266,594$2,779,394$356,282$14,562,993
92$38,686,370$2,738,168$190,801$15,786,727
93$42,449,374$2,689,332$14,187$17,132,993
94$46,590,440$2,632,339$0$18,614,467
95$51,147,948$2,566,608$0$20,287,904
96$56,164,189$2,491,521$0$22,132,451
97$61,685,759$2,406,429$0$24,161,788
98$67,764,004$2,310,641$0$26,394,840
99$74,455,498$2,203,428$0$28,852,476
100$81,822,580$2,084,018$0$31,557,702