Can I retire at age 58 with 2,160,000?

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 $2,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$178,371$176,782$175,232$173,719$172,241$169,179
2 years$88,302$86,658$85,064$83,519$82,020$78,945
3 years$58,283$56,632$55,042$53,511$52,037$49,045
4 years$43,277$41,630$40,057$38,552$37,113$34,228
5 years$34,275$32,639$31,085$29,611$28,213$25,442
6 years$28,276$26,652$25,122$23,681$22,324$19,671
7 years$23,993$22,382$20,876$19,469$18,155$15,621
8 years$20,782$19,186$17,705$16,332$15,061$12,645
9 years$18,286$16,705$15,249$13,911$12,684$10,384
10 years$16,290$14,724$13,294$11,992$10,807$8,622
11 years$14,658$13,108$11,704$10,436$9,295$7,221
12 years$13,299$11,765$10,387$9,154$8,055$6,090
13 years$12,150$10,632$9,280$8,082$7,024$5,166
14 years$11,166$9,664$8,338$7,174$6,157$4,402
15 years$10,314$8,829$7,528$6,398$5,421$3,765
16 years$9,570$8,100$6,826$5,729$4,791$3,231
17 years$8,913$7,460$6,211$5,147$4,248$2,781
18 years$8,330$6,893$5,670$4,639$3,777$2,398
19 years$7,809$6,389$5,191$4,191$3,367$2,073
20 years$7,341$5,937$4,764$3,796$3,007$1,794
21 years$6,918$5,530$4,382$3,445$2,691$1,555
22 years$6,534$5,162$4,038$3,133$2,412$1,350
23 years$6,184$4,828$3,729$2,853$2,165$1,173
24 years$5,863$4,523$3,448$2,602$1,946$1,020
25 years$5,569$4,245$3,194$2,376$1,751$888
26 years$5,297$3,990$2,962$2,173$1,578$773
27 years$5,047$3,755$2,751$1,989$1,422$674
28 years$4,814$3,538$2,557$1,822$1,283$587
29 years$4,598$3,338$2,380$1,671$1,159$512
30 years$4,397$3,152$2,216$1,533$1,047$447
31 years$4,209$2,980$2,066$1,408$947$390
32 years$4,033$2,819$1,928$1,294$856$341
33 years$3,868$2,670$1,800$1,190$775$297
34 years$3,713$2,531$1,682$1,095$702$260
35 years$3,568$2,400$1,573$1,008$636$227
36 years$3,431$2,278$1,471$928$576$198
37 years$3,301$2,164$1,377$855$522$173
38 years$3,179$2,056$1,289$788$473$152
39 years$3,063$1,955$1,208$727$429$133
40 years$2,953$1,860$1,132$671$389$116
41 years$2,849$1,771$1,062$619$353$101
42 years$2,750$1,687$996$571$320$89
43 years$2,656$1,607$935$527$291$77
44 years$2,566$1,532$877$487$264$68
45 years$2,481$1,461$824$449$240$59
46 years$2,400$1,393$774$415$218$52
47 years$2,322$1,330$727$384$198$45
48 years$2,248$1,269$683$354$179$40
49 years$2,177$1,212$642$328$163$35
50 years$2,109$1,158$604$303$148$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,160,000, adding $5,230 every year, while hoping to spend $37,590 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: 68/5/27 Blend
57$2,160,000$2,160,000$2,160,000$2,160,000
58$2,385,715$2,271,235$2,237,755$2,530,884
59$2,589,062$2,342,530$2,272,724$2,700,431
60$2,811,891$2,416,058$2,307,605$2,881,102
61$3,056,149$2,491,890$2,342,355$3,077,919
62$3,323,981$2,570,098$2,376,928$3,292,479
63$3,617,749$2,650,754$2,411,277$3,526,544
64$3,940,055$2,733,937$2,445,351$3,782,054
65$4,293,765$2,819,725$2,479,095$4,061,145
66$4,682,036$2,908,198$2,512,451$4,366,171
67$5,108,346$2,999,441$2,545,360$4,699,725
68$5,576,524$3,093,541$2,577,757$5,064,665
69$6,090,791$3,190,586$2,609,573$5,464,139
70$6,655,795$3,290,668$2,640,737$5,901,615
71$7,276,658$3,393,882$2,671,173$6,380,915
72$7,959,020$3,500,326$2,700,801$6,906,249
73$8,709,099$3,610,100$2,729,536$7,482,256
74$9,533,740$3,723,308$2,757,289$8,114,048
75$10,440,489$3,840,058$2,783,965$8,807,259
76$11,437,656$3,960,458$2,809,466$9,568,094
77$12,534,400$4,084,624$2,833,686$10,403,394
78$13,740,811$4,212,672$2,856,516$11,320,695
79$15,068,004$4,344,723$2,877,840$12,328,300
80$16,528,228$4,480,903$2,897,535$13,435,361
81$18,134,978$4,621,338$2,915,474$14,651,963
82$19,903,125$4,766,162$2,931,521$15,989,217
83$21,849,051$4,915,512$2,945,535$17,459,368
84$23,990,810$5,069,528$2,957,366$19,075,910
85$26,348,293$5,228,355$2,966,858$20,853,714
86$28,943,417$5,392,142$2,973,846$22,809,165
87$31,800,333$5,561,045$2,978,157$24,960,321
88$34,945,653$5,735,222$2,979,611$27,327,081
89$38,408,698$5,914,836$2,978,016$29,931,375
90$42,221,779$6,100,057$2,973,174$32,797,367
91$46,420,499$6,291,058$2,964,874$35,951,689
92$51,044,090$6,488,020$2,952,897$39,423,686
93$56,135,781$6,691,127$2,937,013$43,245,700
94$61,743,208$6,900,570$2,916,980$47,453,369
95$67,918,863$7,116,545$2,892,547$52,085,969
96$74,720,586$7,339,255$2,863,446$57,186,780
97$82,212,116$7,568,909$2,829,402$62,803,500
98$90,463,689$7,805,722$2,790,124$68,988,690
99$99,552,698$8,049,916$2,745,306$75,800,273
100$109,564,431$8,301,719$2,694,631$83,302,084