Can I retire at age 58 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$179,197$177,600$176,043$174,523$173,039$168,446
2 years$88,711$87,059$85,458$83,905$82,399$77,804
3 years$58,553$56,894$55,297$53,759$52,278$47,824
4 years$43,477$41,823$40,242$38,730$37,285$33,007
5 years$34,434$32,790$31,229$29,749$28,343$24,253
6 years$28,407$26,775$25,238$23,790$22,427$18,528
7 years$24,104$22,486$20,973$19,559$18,239$14,532
8 years$20,878$19,275$17,787$16,408$15,131$11,614
9 years$18,370$16,782$15,320$13,976$12,743$9,412
10 years$16,365$14,793$13,356$12,047$10,857$7,709
11 years$14,726$13,169$11,758$10,485$9,338$6,367
12 years$13,361$11,820$10,435$9,196$8,092$5,294
13 years$12,207$10,682$9,323$8,119$7,056$4,424
14 years$11,218$9,709$8,377$7,207$6,185$3,714
15 years$10,362$8,870$7,563$6,428$5,446$3,129
16 years$9,614$8,138$6,857$5,755$4,813$2,644
17 years$8,954$7,494$6,240$5,171$4,268$2,239
18 years$8,369$6,925$5,696$4,660$3,795$1,900
19 years$7,846$6,418$5,215$4,211$3,382$1,615
20 years$7,375$5,964$4,786$3,814$3,021$1,375
21 years$6,950$5,555$4,402$3,461$2,704$1,172
22 years$6,564$5,186$4,057$3,147$2,423$1,000
23 years$6,212$4,850$3,746$2,866$2,175$854
24 years$5,890$4,544$3,464$2,614$1,955$730
25 years$5,595$4,265$3,209$2,387$1,759$624
26 years$5,322$4,008$2,976$2,183$1,585$534
27 years$5,070$3,772$2,763$1,998$1,429$457
28 years$4,836$3,554$2,569$1,831$1,289$392
29 years$4,619$3,353$2,391$1,679$1,164$336
30 years$4,417$3,167$2,227$1,541$1,052$287
31 years$4,228$2,994$2,076$1,415$951$246
32 years$4,052$2,832$1,937$1,300$860$211
33 years$3,886$2,682$1,808$1,196$779$181
34 years$3,731$2,542$1,690$1,100$705$155
35 years$3,584$2,411$1,580$1,013$638$133
36 years$3,446$2,289$1,478$933$578$114
37 years$3,316$2,174$1,383$859$524$98
38 years$3,193$2,066$1,295$792$475$84
39 years$3,077$1,964$1,214$730$431$72
40 years$2,967$1,869$1,138$674$391$62
41 years$2,862$1,779$1,067$622$355$53
42 years$2,763$1,694$1,001$574$322$46
43 years$2,668$1,614$939$530$292$39
44 years$2,578$1,539$881$489$265$34
45 years$2,493$1,467$827$452$241$29
46 years$2,411$1,400$777$417$219$25
47 years$2,333$1,336$730$385$198$21
48 years$2,258$1,275$686$356$180$18
49 years$2,187$1,218$645$329$164$16
50 years$2,119$1,163$606$304$149$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,170,000, adding $3,413 every year, while hoping to spend $21,609 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: 38/49/13 Blend
57$2,170,000$2,170,000$2,170,000$2,170,000
58$2,394,861$2,279,851$2,246,216$2,476,292
59$2,616,144$2,368,571$2,298,472$2,623,361
60$2,859,275$2,460,915$2,351,755$2,779,847
61$3,126,458$2,557,037$2,406,075$2,948,489
62$3,420,123$2,657,098$2,461,445$3,130,387
63$3,742,947$2,761,267$2,517,875$3,326,752
64$4,097,879$2,869,721$2,575,375$3,538,910
65$4,488,169$2,982,643$2,633,956$3,768,318
66$4,917,395$3,100,226$2,693,627$4,016,576
67$5,389,503$3,222,671$2,754,397$4,285,439
68$5,908,838$3,350,187$2,816,275$4,576,836
69$6,480,188$3,482,994$2,879,268$4,892,886
70$7,108,827$3,621,321$2,943,384$5,235,917
71$7,800,569$3,765,408$3,008,629$5,608,487
72$8,561,818$3,915,504$3,075,009$6,013,408
73$9,399,631$4,071,871$3,142,529$6,453,769
74$10,321,782$4,234,781$3,211,193$6,932,967
75$11,336,840$4,404,521$3,281,004$7,454,737
76$12,454,243$4,581,389$3,351,963$8,023,187
77$13,684,395$4,765,696$3,424,073$8,642,831
78$15,038,757$4,957,769$3,497,333$9,318,639
79$16,529,958$5,157,947$3,571,742$10,056,073
80$18,171,915$5,366,588$3,647,296$10,861,144
81$19,979,963$5,584,063$3,723,993$11,740,464
82$21,970,998$5,810,761$3,801,826$12,701,308
83$24,163,641$6,047,089$3,880,788$13,751,683
84$26,578,409$6,293,473$3,960,871$14,900,397
85$29,237,911$6,550,358$4,042,064$16,157,145
86$32,167,060$6,818,207$4,124,355$17,532,598
87$35,393,308$7,097,508$4,207,730$19,038,499
88$38,946,909$7,388,769$4,292,172$20,687,777
89$42,861,196$7,692,521$4,377,662$22,494,661
90$47,172,904$8,009,320$4,464,180$24,474,817
91$51,922,512$8,339,749$4,551,702$26,645,493
92$57,154,626$8,684,415$4,640,202$29,025,676
93$62,918,401$9,043,954$4,729,651$31,636,274
94$69,268,001$9,419,031$4,820,018$34,500,307
95$76,263,116$9,810,343$4,911,268$37,643,124
96$83,969,522$10,218,617$5,003,362$41,092,637
97$92,459,698$10,644,615$5,096,261$44,879,585
98$101,813,520$11,089,133$5,189,918$49,037,819
99$112,119,003$11,553,005$5,284,284$53,604,620
100$123,473,142$12,037,103$5,379,308$58,621,045