Can I retire at age 58 with 2,310,000?

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 $2,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$190,758$189,058$187,401$185,783$184,203$177,104
2 years$94,434$92,676$90,971$89,319$87,716$80,648
3 years$62,331$60,565$58,864$57,227$55,650$48,837
4 years$46,282$44,521$42,838$41,229$39,690$33,183
5 years$36,656$34,905$33,244$31,668$30,172$23,987
6 years$30,240$28,503$26,866$25,325$23,874$18,016
7 years$25,659$23,937$22,326$20,821$19,416$13,883
8 years$22,225$20,518$18,934$17,466$16,107$10,894
9 years$19,556$17,865$16,308$14,877$13,565$8,663
10 years$17,421$15,747$14,218$12,824$11,558$6,959
11 years$15,676$14,019$12,517$11,161$9,940$5,633
12 years$14,223$12,582$11,109$9,790$8,614$4,588
13 years$12,994$11,371$9,925$8,643$7,512$3,755
14 years$11,942$10,336$8,917$7,672$6,585$3,085
15 years$11,031$9,442$8,051$6,842$5,798$2,542
16 years$10,234$8,663$7,300$6,127$5,124$2,100
17 years$9,532$7,978$6,642$5,505$4,543$1,739
18 years$8,909$7,372$6,064$4,961$4,040$1,442
19 years$8,352$6,832$5,551$4,482$3,601$1,198
20 years$7,851$6,349$5,094$4,060$3,216$996
21 years$7,398$5,914$4,686$3,684$2,878$829
22 years$6,988$5,520$4,319$3,350$2,580$690
23 years$6,613$5,163$3,988$3,051$2,316$575
24 years$6,270$4,837$3,688$2,783$2,081$480
25 years$5,956$4,540$3,416$2,541$1,873$400
26 years$5,665$4,267$3,168$2,324$1,687$334
27 years$5,397$4,015$2,942$2,127$1,521$279
28 years$5,148$3,784$2,735$1,949$1,372$233
29 years$4,917$3,569$2,545$1,787$1,239$194
30 years$4,702$3,371$2,370$1,640$1,120$162
31 years$4,501$3,187$2,210$1,506$1,012$136
32 years$4,313$3,015$2,062$1,384$916$113
33 years$4,137$2,855$1,925$1,273$829$95
34 years$3,971$2,706$1,799$1,171$750$79
35 years$3,816$2,567$1,682$1,078$680$66
36 years$3,669$2,436$1,573$993$616$55
37 years$3,530$2,314$1,472$915$558$46
38 years$3,399$2,199$1,379$843$506$39
39 years$3,276$2,091$1,292$778$459$32
40 years$3,158$1,990$1,211$717$416$27
41 years$3,047$1,894$1,135$662$378$23
42 years$2,941$1,804$1,065$611$343$19
43 years$2,840$1,719$999$564$311$16
44 years$2,745$1,638$938$520$282$13
45 years$2,653$1,562$881$481$256$11
46 years$2,566$1,490$827$444$233$9
47 years$2,483$1,422$777$410$211$8
48 years$2,404$1,358$730$379$192$6
49 years$2,328$1,296$687$350$174$5
50 years$2,255$1,238$645$324$158$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,310,000, adding $4,602 every year, while hoping to spend $26,707 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: 59/25/16 Blend
57$2,310,000$2,310,000$2,310,000$2,310,000
58$2,550,367$2,427,937$2,392,132$2,690,118
59$2,782,088$2,518,490$2,443,852$2,875,658
60$3,036,550$2,612,585$2,496,410$3,074,541
61$3,316,044$2,710,367$2,549,806$3,290,807
62$3,623,094$2,811,988$2,604,037$3,526,136
63$3,960,480$2,917,606$2,659,103$3,782,379
64$4,331,266$3,027,386$2,715,001$4,061,569
65$4,738,828$3,141,501$2,771,725$4,365,945
66$5,186,882$3,260,128$2,829,272$4,697,970
67$5,679,526$3,383,456$2,887,635$5,060,358
68$6,221,272$3,511,680$2,946,805$5,456,091
69$6,817,093$3,645,004$3,006,775$5,888,455
70$7,472,468$3,783,640$3,067,532$6,361,065
71$8,193,431$3,927,810$3,129,066$6,877,903
72$8,986,634$4,077,746$3,191,363$7,443,351
73$9,859,405$4,233,689$3,254,407$8,062,234
74$10,819,816$4,395,892$3,318,182$8,739,865
75$11,876,763$4,564,617$3,382,667$9,482,093
76$13,040,049$4,740,139$3,447,843$10,295,361
77$14,320,474$4,922,746$3,513,685$11,186,762
78$15,729,938$5,112,735$3,580,169$12,164,107
79$17,281,553$5,310,421$3,647,267$13,236,000
80$18,989,769$5,516,129$3,714,947$14,411,916
81$20,870,506$5,730,200$3,783,179$15,702,290
82$22,941,307$5,952,990$3,851,925$17,118,616
83$25,221,503$6,184,869$3,921,147$18,673,553
84$27,732,395$6,426,226$3,990,804$20,381,046
85$30,497,455$6,677,467$4,060,851$22,256,454
86$33,542,546$6,939,013$4,131,240$24,316,697
87$36,896,167$7,211,307$4,201,919$26,580,412
88$40,589,726$7,494,810$4,272,832$29,068,131
89$44,657,827$7,790,004$4,343,921$31,802,470
90$49,138,604$8,097,394$4,415,122$34,808,345
91$54,074,080$8,417,504$4,486,367$38,113,205
92$59,510,560$8,750,886$4,557,583$41,747,289
93$65,499,069$9,098,111$4,628,695$45,743,911
94$72,095,837$9,459,782$4,699,619$50,139,773
95$79,362,826$9,836,524$4,770,269$54,975,313
96$87,368,313$10,228,993$4,840,552$60,295,080
97$96,187,540$10,637,872$4,910,370$66,148,158
98$105,903,419$11,063,878$4,979,617$72,588,626
99$116,607,318$11,507,758$5,048,184$79,676,066
100$128,399,919$11,970,293$5,115,954$87,476,127