Can I retire at age 58 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$189,932$188,240$186,589$184,978$183,405$179,482
2 years$94,026$92,275$90,577$88,932$87,336$83,402
3 years$62,061$60,302$58,610$56,980$55,409$51,589
4 years$46,082$44,329$42,653$41,051$39,518$35,840
5 years$36,497$34,754$33,100$31,531$30,041$26,515
6 years$30,109$28,379$26,750$25,215$23,771$20,400
7 years$25,548$23,833$22,229$20,731$19,332$16,118
8 years$22,129$20,429$18,852$17,391$16,038$12,980
9 years$19,471$17,787$16,237$14,813$13,506$10,602
10 years$17,346$15,679$14,156$12,769$11,508$8,754
11 years$15,608$13,958$12,463$11,113$9,897$7,290
12 years$14,161$12,528$11,060$9,747$8,577$6,113
13 years$12,938$11,321$9,882$8,606$7,479$5,154
14 years$11,890$10,291$8,879$7,639$6,556$4,365
15 years$10,983$9,401$8,016$6,813$5,772$3,711
16 years$10,190$8,625$7,268$6,100$5,102$3,164
17 years$9,491$7,943$6,614$5,481$4,524$2,705
18 years$8,870$7,340$6,037$4,939$4,022$2,318
19 years$8,316$6,803$5,527$4,463$3,585$1,990
20 years$7,817$6,321$5,072$4,042$3,202$1,711
21 years$7,366$5,888$4,666$3,669$2,866$1,473
22 years$6,957$5,496$4,300$3,336$2,569$1,270
23 years$6,585$5,141$3,970$3,038$2,306$1,095
24 years$6,243$4,816$3,672$2,771$2,072$946
25 years$5,930$4,520$3,401$2,530$1,865$817
26 years$5,641$4,248$3,154$2,314$1,680$707
27 years$5,374$3,998$2,929$2,118$1,514$611
28 years$5,126$3,767$2,723$1,940$1,367$529
29 years$4,896$3,554$2,534$1,779$1,234$458
30 years$4,682$3,356$2,360$1,633$1,115$397
31 years$4,482$3,173$2,200$1,500$1,008$344
32 years$4,294$3,002$2,053$1,378$912$298
33 years$4,119$2,843$1,917$1,267$825$258
34 years$3,954$2,695$1,791$1,166$747$224
35 years$3,799$2,556$1,674$1,073$677$194
36 years$3,653$2,426$1,566$989$613$168
37 years$3,515$2,304$1,466$911$556$146
38 years$3,385$2,190$1,373$840$504$127
39 years$3,261$2,082$1,286$774$457$110
40 years$3,144$1,981$1,206$714$414$95
41 years$3,034$1,886$1,131$659$376$83
42 years$2,928$1,796$1,060$608$341$72
43 years$2,828$1,711$995$561$310$62
44 years$2,733$1,631$934$518$281$54
45 years$2,642$1,555$877$479$255$47
46 years$2,555$1,484$824$442$232$41
47 years$2,473$1,416$774$408$210$35
48 years$2,393$1,352$727$377$191$31
49 years$2,318$1,291$684$349$173$27
50 years$2,246$1,233$643$322$158$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,300,000, adding $4,160 every year, while hoping to spend $58,935 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: 54/40/6 Blend
57$2,300,000$2,300,000$2,300,000$2,300,000
58$2,538,891$2,416,991$2,381,341$2,672,351
59$2,735,152$2,472,717$2,398,410$2,818,720
60$2,949,455$2,529,199$2,414,075$2,971,071
61$3,183,581$2,586,410$2,428,227$3,135,434
62$3,439,485$2,644,324$2,440,752$3,312,956
63$3,719,324$2,702,907$2,451,528$3,504,899
64$4,025,470$2,762,125$2,460,430$3,712,651
65$4,360,537$2,821,937$2,467,323$3,937,745
66$4,727,401$2,882,302$2,472,068$4,181,864
67$5,129,231$2,943,170$2,474,517$4,446,865
68$5,569,517$3,004,489$2,474,517$4,734,794
69$6,052,100$3,066,201$2,471,906$5,047,902
70$6,581,213$3,128,244$2,466,514$5,388,672
71$7,161,518$3,190,549$2,458,163$5,759,838
72$7,798,147$3,253,041$2,446,666$6,164,412
73$8,496,757$3,315,638$2,431,828$6,605,713
74$9,263,576$3,378,254$2,413,444$7,087,399
75$10,105,465$3,440,793$2,391,299$7,613,500
76$11,029,982$3,503,152$2,365,167$8,188,456
77$12,045,453$3,565,219$2,334,814$8,817,160
78$13,161,051$3,626,876$2,299,991$9,505,007
79$14,386,879$3,687,994$2,260,441$10,257,938
80$15,734,068$3,748,433$2,215,894$11,082,503
81$17,214,882$3,808,046$2,166,065$11,985,920
82$18,842,831$3,866,671$2,110,660$12,976,143
83$20,632,800$3,924,138$2,049,367$14,061,940
84$22,601,188$3,980,263$1,981,863$15,252,971
85$24,766,063$4,034,849$1,907,809$16,559,885
86$27,147,330$4,087,686$1,826,849$17,994,419
87$29,766,924$4,138,548$1,738,615$19,569,507
88$32,649,008$4,187,196$1,642,717$21,299,405
89$35,820,210$4,233,371$1,538,751$23,199,825
90$39,309,866$4,276,801$1,426,294$25,288,083
91$43,150,301$4,317,193$1,304,903$27,583,266
92$47,377,131$4,354,235$1,174,117$30,106,410
93$52,029,602$4,387,595$1,033,453$32,880,699
94$57,150,954$4,416,921$882,406$35,931,686
95$62,788,836$4,441,834$720,451$39,287,536
96$68,995,749$4,461,936$547,038$42,979,290
97$75,829,544$4,476,799$361,593$47,041,160
98$83,353,968$4,485,973$163,516$51,510,852
99$91,639,261$4,488,974$0$56,429,927
100$100,762,826$4,485,294$0$61,847,255