Can I retire at age 58 with 2,180,000?

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 $2,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$180,022$178,419$176,854$175,327$173,836$171,806
2 years$89,120$87,460$85,852$84,292$82,779$80,736
3 years$58,823$57,156$55,552$54,007$52,519$50,526
4 years$43,678$42,016$40,427$38,909$37,457$35,529
5 years$34,593$32,941$31,373$29,886$28,474$26,618
6 years$28,538$26,899$25,354$23,900$22,530$20,748
7 years$24,215$22,590$21,070$19,649$18,323$16,615
8 years$20,974$19,363$17,869$16,483$15,201$13,566
9 years$18,455$16,859$15,390$14,040$12,801$11,240
10 years$16,441$14,861$13,418$12,103$10,907$9,418
11 years$14,794$13,230$11,813$10,533$9,381$7,963
12 years$13,422$11,874$10,483$9,239$8,129$6,780
13 years$12,263$10,731$9,366$8,157$7,089$5,808
14 years$11,270$9,754$8,416$7,240$6,214$4,999
15 years$10,410$8,910$7,598$6,457$5,471$4,320
16 years$9,658$8,175$6,889$5,782$4,836$3,746
17 years$8,996$7,529$6,269$5,195$4,288$3,258
18 years$8,407$6,957$5,722$4,682$3,812$2,841
19 years$7,882$6,448$5,239$4,230$3,398$2,482
20 years$7,409$5,992$4,808$3,831$3,035$2,173
21 years$6,982$5,581$4,422$3,477$2,716$1,905
22 years$6,594$5,210$4,076$3,162$2,435$1,672
23 years$6,241$4,872$3,763$2,879$2,185$1,470
24 years$5,918$4,565$3,480$2,626$1,964$1,293
25 years$5,620$4,284$3,223$2,398$1,768$1,139
26 years$5,347$4,026$2,990$2,193$1,592$1,004
27 years$5,093$3,789$2,776$2,007$1,435$885
28 years$4,859$3,571$2,581$1,839$1,295$781
29 years$4,641$3,369$2,402$1,686$1,170$690
30 years$4,438$3,181$2,237$1,548$1,057$609
31 years$4,248$3,007$2,086$1,421$955$538
32 years$4,070$2,846$1,946$1,306$864$476
33 years$3,904$2,695$1,817$1,201$782$421
34 years$3,748$2,554$1,698$1,105$708$372
35 years$3,601$2,422$1,587$1,017$641$330
36 years$3,462$2,299$1,485$937$581$292
37 years$3,332$2,184$1,390$863$527$258
38 years$3,208$2,075$1,301$796$478$229
39 years$3,091$1,973$1,219$734$433$202
40 years$2,980$1,878$1,143$677$393$179
41 years$2,875$1,787$1,072$624$356$159
42 years$2,775$1,702$1,005$576$323$141
43 years$2,681$1,622$943$532$293$125
44 years$2,590$1,546$885$491$266$110
45 years$2,504$1,474$831$454$242$98
46 years$2,422$1,406$781$419$220$87
47 years$2,344$1,342$734$387$199$77
48 years$2,269$1,281$689$358$181$68
49 years$2,197$1,223$648$331$164$60
50 years$2,128$1,169$609$306$149$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,180,000, adding $3,113 every year, while hoping to spend $37,271 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: 56/24/20 Blend
57$2,180,000$2,180,000$2,180,000$2,180,000
58$2,405,571$2,290,031$2,256,241$2,527,187
59$2,611,283$2,362,587$2,292,169$2,683,068
60$2,836,729$2,437,448$2,328,052$2,848,554
61$3,083,882$2,514,689$2,363,848$3,028,019
62$3,354,915$2,594,386$2,399,514$3,222,816
63$3,652,222$2,676,617$2,435,003$3,434,433
64$3,978,441$2,761,464$2,470,268$3,664,506
65$4,336,475$2,849,009$2,505,255$3,914,838
66$4,729,524$2,939,339$2,539,910$4,187,415
67$5,161,112$3,032,543$2,574,174$4,484,422
68$5,635,122$3,128,713$2,607,984$4,808,264
69$6,155,828$3,227,945$2,641,276$5,161,591
70$6,727,944$3,330,335$2,673,980$5,547,321
71$7,356,658$3,435,985$2,706,022$5,968,668
72$8,047,688$3,545,000$2,737,325$6,429,169
73$8,807,335$3,657,487$2,767,808$6,932,724
74$9,642,537$3,773,558$2,797,383$7,483,625
75$10,560,940$3,893,326$2,825,960$8,086,600
76$11,570,969$4,016,912$2,853,442$8,746,859
77$12,681,904$4,144,437$2,879,729$9,470,138
78$13,903,971$4,276,028$2,904,713$10,262,759
79$15,248,438$4,411,815$2,928,283$11,131,684
80$16,727,717$4,551,933$2,950,319$12,084,583
81$18,355,487$4,696,520$2,970,698$13,129,907
82$20,146,819$4,845,721$2,989,287$14,276,966
83$22,118,316$4,999,684$3,005,951$15,536,015
84$24,288,277$5,158,561$3,020,543$16,918,355
85$26,676,862$5,322,511$3,032,911$18,436,436
86$29,306,284$5,491,696$3,042,896$20,103,974
87$32,201,021$5,666,286$3,050,330$21,936,084
88$35,388,045$5,846,453$3,055,035$23,949,417
89$38,897,075$6,032,379$3,056,828$26,162,320
90$42,760,858$6,224,247$3,055,513$28,595,011
91$47,015,480$6,422,249$3,050,888$31,269,763
92$51,700,703$6,626,584$3,042,737$34,211,121
93$56,860,343$6,837,455$3,030,837$37,446,130
94$62,542,681$7,055,073$3,014,952$41,004,589
95$68,800,918$7,279,655$2,994,837$44,919,335
96$75,693,681$7,511,427$2,970,233$49,226,551
97$83,285,570$7,750,620$2,940,869$53,966,104
98$91,647,772$7,997,475$2,906,462$59,181,929
99$100,858,731$8,252,238$2,866,716$64,922,437
100$111,004,890$8,515,166$2,821,319$71,240,972