Can I retire at age 58 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$171,764$170,234$168,742$167,285$165,862$159,407
2 years$85,032$83,448$81,913$80,425$78,982$72,557
3 years$56,125$54,534$53,003$51,529$50,109$43,916
4 years$41,674$40,089$38,573$37,124$35,738$29,824
5 years$33,006$31,430$29,934$28,515$27,168$21,548
6 years$27,229$25,665$24,191$22,803$21,497$16,175
7 years$23,104$21,553$20,103$18,748$17,483$12,457
8 years$20,012$18,475$17,049$15,727$14,504$9,769
9 years$17,609$16,086$14,684$13,396$12,214$7,764
10 years$15,687$14,179$12,802$11,548$10,407$6,232
11 years$14,115$12,623$11,271$10,050$8,950$5,042
12 years$12,807$11,329$10,003$8,815$7,756$4,104
13 years$11,700$10,239$8,937$7,782$6,764$3,356
14 years$10,753$9,307$8,030$6,908$5,929$2,755
15 years$9,932$8,502$7,250$6,161$5,220$2,269
16 years$9,215$7,800$6,573$5,517$4,614$1,873
17 years$8,583$7,184$5,981$4,957$4,091$1,550
18 years$8,022$6,638$5,460$4,467$3,637$1,284
19 years$7,520$6,152$4,998$4,036$3,242$1,066
20 years$7,069$5,717$4,587$3,656$2,896$885
21 years$6,662$5,325$4,219$3,318$2,591$736
22 years$6,292$4,971$3,889$3,016$2,323$613
23 years$5,955$4,649$3,591$2,747$2,085$510
24 years$5,646$4,356$3,321$2,506$1,874$425
25 years$5,363$4,088$3,076$2,288$1,686$354
26 years$5,101$3,842$2,852$2,092$1,519$296
27 years$4,860$3,616$2,649$1,915$1,370$247
28 years$4,636$3,407$2,462$1,755$1,236$206
29 years$4,428$3,214$2,291$1,609$1,116$172
30 years$4,234$3,035$2,134$1,477$1,008$143
31 years$4,053$2,869$1,990$1,356$912$120
32 years$3,884$2,715$1,857$1,246$825$100
33 years$3,725$2,571$1,733$1,146$746$83
34 years$3,576$2,437$1,620$1,055$676$70
35 years$3,436$2,311$1,514$971$612$58
36 years$3,304$2,194$1,417$894$554$49
37 years$3,179$2,084$1,326$824$503$41
38 years$3,061$1,980$1,242$759$456$34
39 years$2,949$1,883$1,163$700$413$28
40 years$2,844$1,791$1,090$646$375$24
41 years$2,743$1,705$1,022$596$340$20
42 years$2,648$1,624$959$550$309$16
43 years$2,558$1,547$900$508$280$14
44 years$2,471$1,475$845$469$254$12
45 years$2,389$1,407$793$433$231$10
46 years$2,311$1,342$745$400$209$8
47 years$2,236$1,280$700$369$190$7
48 years$2,165$1,222$658$341$173$6
49 years$2,096$1,167$618$315$157$5
50 years$2,031$1,115$581$292$143$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,080,000, adding $6,481 every year, while hoping to spend $26,323 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: 39/36/25 Blend
57$2,080,000$2,080,000$2,080,000$2,080,000
58$2,298,845$2,188,605$2,156,365$2,371,214
59$2,505,320$2,267,839$2,200,596$2,503,585
60$2,731,973$2,350,074$2,245,426$2,643,692
61$2,980,834$2,435,428$2,290,848$2,794,676
62$3,254,141$2,524,025$2,336,853$2,957,544
63$3,554,357$2,615,996$2,383,431$3,133,401
64$3,884,196$2,711,474$2,430,571$3,323,461
65$4,246,648$2,810,601$2,478,259$3,529,059
66$4,645,008$2,913,522$2,526,482$3,751,663
67$5,082,904$3,020,390$2,575,225$3,992,886
68$5,564,335$3,131,364$2,624,470$4,254,502
69$6,093,706$3,246,609$2,674,198$4,538,461
70$6,675,869$3,366,299$2,724,389$4,846,910
71$7,316,173$3,490,612$2,775,021$5,182,209
72$8,020,507$3,619,736$2,826,069$5,546,954
73$8,795,363$3,753,868$2,877,506$5,944,002
74$9,647,892$3,893,209$2,929,305$6,376,496
75$10,585,974$4,037,974$2,981,434$6,847,895
76$11,618,292$4,188,383$3,033,861$7,362,007
77$12,754,412$4,344,668$3,086,549$7,923,019
78$14,004,873$4,507,068$3,139,460$8,535,544
79$15,381,292$4,675,836$3,192,554$9,204,657
80$16,896,465$4,851,233$3,245,785$9,935,947
81$18,564,493$5,033,533$3,299,108$10,735,564
82$20,400,915$5,223,019$3,352,471$11,610,282
83$22,422,851$5,419,990$3,405,822$12,567,556
84$24,649,168$5,624,755$3,459,103$13,615,599
85$27,100,653$5,837,639$3,512,253$14,763,450
86$29,800,214$6,058,977$3,565,208$16,021,066
87$32,773,092$6,289,123$3,617,898$17,399,410
88$36,047,101$6,528,443$3,670,251$18,910,555
89$39,652,890$6,777,322$3,722,190$20,567,800
90$43,624,233$7,036,159$3,773,631$22,385,789
91$47,998,345$7,305,371$3,824,488$24,380,652
92$52,816,236$7,585,395$3,874,669$26,570,156
93$58,123,098$7,876,684$3,924,075$28,973,868
94$63,968,726$8,179,714$3,972,605$31,613,345
95$70,407,997$8,494,981$4,020,148$34,512,327
96$77,501,379$8,823,001$4,066,589$37,696,971
97$85,315,506$9,164,315$4,111,806$41,196,086
98$93,923,808$9,519,486$4,155,671$45,041,411
99$103,407,199$9,889,104$4,198,049$49,267,909
100$113,854,845$10,273,782$4,238,796$53,914,097