Can I retire at age 58 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$191,583$189,877$188,212$186,587$185,000$182,235
2 years$94,843$93,077$91,365$89,705$88,095$85,316
3 years$62,601$60,827$59,119$57,475$55,891$53,184
4 years$46,483$44,714$43,024$41,408$39,862$37,248
5 years$36,814$35,056$33,388$31,805$30,303$27,789
6 years$30,371$28,626$26,983$25,435$23,977$21,567
7 years$25,770$24,040$22,423$20,911$19,500$17,194
8 years$22,321$20,607$19,016$17,542$16,177$13,975
9 years$19,640$17,942$16,379$14,942$13,624$11,524
10 years$17,497$15,815$14,279$12,880$11,608$9,609
11 years$15,744$14,079$12,571$11,209$9,983$8,084
12 years$14,284$12,637$11,157$9,832$8,651$6,848
13 years$13,050$11,420$9,968$8,680$7,544$5,836
14 years$11,994$10,380$8,956$7,705$6,613$4,996
15 years$11,078$9,483$8,086$6,872$5,823$4,294
16 years$10,278$8,700$7,331$6,153$5,146$3,703
17 years$9,573$8,013$6,671$5,528$4,563$3,203
18 years$8,947$7,404$6,090$4,982$4,057$2,776
19 years$8,388$6,862$5,575$4,502$3,616$2,412
20 years$7,885$6,376$5,116$4,077$3,230$2,098
21 years$7,431$5,939$4,706$3,700$2,891$1,829
22 years$7,018$5,544$4,337$3,365$2,591$1,596
23 years$6,642$5,185$4,005$3,064$2,326$1,394
24 years$6,298$4,858$3,704$2,795$2,090$1,219
25 years$5,981$4,559$3,430$2,552$1,881$1,067
26 years$5,690$4,285$3,182$2,334$1,694$934
27 years$5,420$4,033$2,954$2,136$1,528$819
28 years$5,171$3,800$2,746$1,957$1,378$718
29 years$4,939$3,585$2,556$1,795$1,245$630
30 years$4,723$3,386$2,381$1,647$1,125$553
31 years$4,521$3,200$2,219$1,513$1,017$485
32 years$4,332$3,028$2,071$1,390$920$426
33 years$4,155$2,868$1,933$1,278$832$374
34 years$3,989$2,718$1,807$1,176$754$329
35 years$3,832$2,578$1,689$1,083$683$289
36 years$3,685$2,447$1,580$997$618$254
37 years$3,546$2,324$1,479$919$561$223
38 years$3,414$2,209$1,385$847$508$196
39 years$3,290$2,100$1,297$781$461$173
40 years$3,172$1,998$1,216$720$418$152
41 years$3,060$1,902$1,140$665$379$134
42 years$2,954$1,811$1,070$613$344$118
43 years$2,853$1,726$1,004$566$312$103
44 years$2,756$1,645$942$523$283$91
45 years$2,665$1,569$885$483$257$80
46 years$2,577$1,497$831$446$234$70
47 years$2,494$1,428$781$412$212$62
48 years$2,414$1,363$734$381$193$55
49 years$2,338$1,302$690$352$175$48
50 years$2,265$1,244$648$325$159$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,320,000, adding $5,202 every year, while hoping to spend $20,377 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: 66/17/17 Blend
57$2,320,000$2,320,000$2,320,000$2,320,000
58$2,562,006$2,439,046$2,403,086$2,720,127
59$2,801,649$2,536,878$2,461,908$2,924,406
60$3,065,054$2,638,821$2,522,018$3,144,781
61$3,354,621$2,745,055$2,583,438$3,385,182
62$3,672,997$2,855,768$2,646,188$3,647,571
63$4,023,098$2,971,156$2,710,290$3,934,107
64$4,408,137$3,091,425$2,775,767$4,247,168
65$4,831,651$3,216,789$2,842,640$4,589,369
66$5,297,542$3,347,474$2,910,931$4,963,590
67$5,810,105$3,483,714$2,980,661$5,373,004
68$6,374,074$3,625,754$3,051,851$5,821,099
69$6,994,665$3,773,852$3,124,524$6,311,719
70$7,677,625$3,928,275$3,198,699$6,849,095
71$8,429,286$4,089,304$3,274,399$7,437,888
72$9,256,626$4,257,232$3,351,644$8,083,228
73$10,167,332$4,432,367$3,430,455$8,790,765
74$11,169,877$4,615,029$3,510,852$9,566,720
75$12,273,593$4,805,555$3,592,854$10,417,947
76$13,488,766$5,004,294$3,676,482$11,351,993
77$14,826,730$5,211,614$3,761,754$12,377,168
78$16,299,973$5,427,900$3,848,689$13,502,629
79$17,922,256$5,653,552$3,937,305$14,738,457
80$19,708,741$5,888,992$4,027,620$16,095,761
81$21,676,139$6,134,658$4,119,651$17,586,774
82$23,842,859$6,391,010$4,213,414$19,224,972
83$26,229,191$6,658,530$4,308,924$21,025,200
84$28,857,492$6,937,721$4,406,196$23,003,811
85$31,752,396$7,229,109$4,505,243$25,178,818
86$34,941,050$7,533,246$4,606,079$27,570,068
87$38,453,370$7,850,708$4,708,715$30,199,422
88$42,322,319$8,182,097$4,813,162$33,090,966
89$46,584,222$8,528,046$4,919,429$36,271,234
90$51,279,107$8,889,215$5,027,525$39,769,457
91$56,451,084$9,266,295$5,137,455$43,617,844
92$62,148,760$9,660,009$5,249,226$47,851,876
93$68,425,699$10,071,115$5,362,840$52,510,648
94$75,340,925$10,500,405$5,478,300$57,637,231
95$82,959,482$10,948,707$5,595,606$63,279,080
96$91,353,047$11,416,891$5,714,756$69,488,482
97$100,600,603$11,905,864$5,835,745$76,323,046
98$110,789,190$12,416,577$5,958,569$83,846,245
99$122,014,725$12,950,026$6,083,218$92,128,016
100$134,382,902$13,507,253$6,209,681$101,245,421