Can I retire at age 58 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$183,326$181,693$180,099$178,544$177,026$171,154
2 years$90,755$89,065$87,427$85,839$84,298$78,439
3 years$59,902$58,205$56,571$54,998$53,482$47,820
4 years$44,479$42,787$41,169$39,623$38,144$32,722
5 years$35,228$33,545$31,949$30,434$28,996$23,829
6 years$29,062$27,392$25,820$24,338$22,944$18,036
7 years$24,659$23,004$21,456$20,010$18,660$14,010
8 years$21,359$19,719$18,197$16,786$15,480$11,085
9 years$18,794$17,169$15,673$14,298$13,036$8,891
10 years$16,742$15,133$13,664$12,325$11,108$7,205
11 years$15,065$13,472$12,029$10,726$9,553$5,886
12 years$13,669$12,092$10,676$9,408$8,278$4,839
13 years$12,488$10,928$9,538$8,306$7,219$3,998
14 years$11,477$9,933$8,570$7,373$6,328$3,317
15 years$10,601$9,074$7,738$6,576$5,572$2,761
16 years$9,835$8,325$7,015$5,888$4,924$2,304
17 years$9,161$7,667$6,384$5,290$4,366$1,928
18 years$8,562$7,085$5,827$4,768$3,882$1,615
19 years$8,026$6,566$5,335$4,308$3,460$1,356
20 years$7,545$6,102$4,896$3,902$3,091$1,139
21 years$7,110$5,683$4,503$3,541$2,766$959
22 years$6,715$5,305$4,150$3,220$2,479$807
23 years$6,356$4,962$3,832$2,932$2,226$680
24 years$6,026$4,649$3,544$2,674$2,000$574
25 years$5,724$4,363$3,283$2,442$1,800$484
26 years$5,445$4,100$3,044$2,233$1,621$408
27 years$5,187$3,859$2,827$2,044$1,462$345
28 years$4,948$3,636$2,628$1,873$1,319$291
29 years$4,726$3,430$2,446$1,717$1,191$246
30 years$4,519$3,240$2,278$1,576$1,076$208
31 years$4,326$3,062$2,124$1,448$973$176
32 years$4,145$2,898$1,982$1,330$880$149
33 years$3,976$2,744$1,850$1,223$797$126
34 years$3,817$2,601$1,729$1,126$721$106
35 years$3,667$2,467$1,616$1,036$653$90
36 years$3,526$2,341$1,512$954$592$76
37 years$3,393$2,224$1,415$879$536$64
38 years$3,267$2,113$1,325$810$486$54
39 years$3,148$2,010$1,242$747$441$46
40 years$3,035$1,912$1,164$689$400$39
41 years$2,928$1,820$1,091$636$363$33
42 years$2,826$1,733$1,024$587$329$28
43 years$2,730$1,652$960$542$299$24
44 years$2,638$1,574$902$500$271$20
45 years$2,550$1,501$847$462$246$17
46 years$2,466$1,432$795$427$224$14
47 years$2,387$1,367$747$394$203$12
48 years$2,310$1,305$702$364$184$10
49 years$2,237$1,246$660$337$167$9
50 years$2,167$1,190$620$311$152$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,220,000, adding $2,721 every year, while hoping to spend $43,977 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: 61/16/23 Blend
57$2,220,000$2,220,000$2,220,000$2,220,000
58$2,449,247$2,331,587$2,297,177$2,583,598
59$2,652,279$2,399,043$2,327,341$2,742,429
60$2,874,546$2,468,331$2,357,042$2,910,646
61$3,117,964$2,539,494$2,386,217$3,093,274
62$3,384,643$2,612,576$2,414,802$3,291,723
63$3,676,905$2,687,620$2,442,726$3,507,547
64$3,997,309$2,764,674$2,469,918$3,742,455
65$4,348,674$2,843,782$2,496,299$3,998,332
66$4,734,102$2,924,991$2,521,788$4,277,251
67$5,157,013$3,008,347$2,546,300$4,581,500
68$5,621,171$3,093,900$2,569,745$4,913,595
69$6,130,726$3,181,696$2,592,026$5,276,312
70$6,690,245$3,271,783$2,613,044$5,672,704
71$7,304,761$3,364,213$2,632,692$6,106,140
72$7,979,820$3,459,032$2,650,861$6,580,327
73$8,721,529$3,556,292$2,667,432$7,099,354
74$9,536,617$3,656,043$2,682,283$7,667,721
75$10,432,497$3,758,334$2,695,285$8,290,391
76$11,417,336$3,863,216$2,706,301$8,972,830
77$12,500,131$3,970,741$2,715,189$9,721,060
78$13,690,796$4,080,958$2,721,799$10,541,719
79$15,000,251$4,193,919$2,725,973$11,442,120
80$16,440,530$4,309,675$2,727,547$12,430,320
81$18,024,891$4,428,275$2,726,346$13,515,199
82$19,767,940$4,549,771$2,722,189$14,706,542
83$21,685,772$4,674,212$2,714,884$16,015,131
84$23,796,120$4,801,648$2,704,233$17,452,847
85$26,118,524$4,932,128$2,690,024$19,032,785
86$28,674,512$5,065,701$2,672,038$20,769,371
87$31,487,805$5,202,413$2,650,044$22,678,505
88$34,584,541$5,342,311$2,623,801$24,777,709
89$37,993,522$5,485,442$2,593,056$27,086,290
90$41,746,481$5,631,849$2,557,543$29,625,527
91$45,878,387$5,781,574$2,516,986$32,418,866
92$50,427,771$5,934,660$2,471,093$35,492,147
93$55,437,091$6,091,146$2,419,562$38,873,846
94$60,953,130$6,251,068$2,362,074$42,595,343
95$67,027,442$6,414,462$2,298,295$46,691,220
96$73,716,831$6,581,361$2,227,878$51,199,585
97$81,083,895$6,751,795$2,150,459$56,162,437
98$89,197,610$6,925,790$2,065,657$61,626,056
99$98,133,983$7,103,371$1,973,073$67,641,446
100$107,976,770$7,284,557$1,872,292$74,264,815