Can I retire at age 58 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$194,887$193,151$191,457$189,804$188,190$186,925
2 years$96,479$94,682$92,940$91,252$89,614$88,339
3 years$63,680$61,876$60,139$58,466$56,855$55,608
4 years$47,284$45,485$43,765$42,121$40,549$39,341
5 years$37,449$35,661$33,964$32,353$30,825$29,659
6 years$30,895$29,120$27,448$25,873$24,391$23,268
7 years$26,215$24,455$22,809$21,272$19,836$18,757
8 years$22,706$20,962$19,344$17,844$16,456$15,421
9 years$19,979$18,251$16,661$15,199$13,858$12,867
10 years$17,798$16,088$14,525$13,102$11,808$10,860
11 years$16,015$14,322$12,788$11,403$10,155$9,249
12 years$14,531$12,855$11,349$10,002$8,800$7,936
13 years$13,275$11,617$10,140$8,830$7,674$6,851
14 years$12,200$10,559$9,110$7,838$6,727$5,943
15 years$11,269$9,646$8,226$6,990$5,923$5,178
16 years$10,456$8,850$7,458$6,259$5,235$4,527
17 years$9,738$8,151$6,786$5,624$4,642$3,971
18 years$9,102$7,532$6,195$5,068$4,127$3,491
19 years$8,532$6,980$5,671$4,580$3,679$3,077
20 years$8,021$6,486$5,205$4,148$3,286$2,717
21 years$7,559$6,042$4,787$3,764$2,940$2,403
22 years$7,139$5,640$4,412$3,423$2,636$2,129
23 years$6,756$5,275$4,074$3,117$2,366$1,889
24 years$6,406$4,942$3,768$2,843$2,127$1,677
25 years$6,084$4,638$3,490$2,596$1,914$1,491
26 years$5,788$4,359$3,236$2,374$1,724$1,326
27 years$5,514$4,102$3,005$2,173$1,554$1,181
28 years$5,260$3,866$2,794$1,991$1,402$1,052
29 years$5,024$3,647$2,600$1,826$1,266$938
30 years$4,804$3,444$2,422$1,675$1,144$837
31 years$4,599$3,256$2,258$1,539$1,034$747
32 years$4,407$3,080$2,106$1,414$936$667
33 years$4,226$2,917$1,967$1,300$847$596
34 years$4,057$2,765$1,838$1,197$767$532
35 years$3,898$2,622$1,718$1,101$694$476
36 years$3,748$2,489$1,607$1,014$629$425
37 years$3,607$2,364$1,504$935$570$380
38 years$3,473$2,247$1,409$862$517$340
39 years$3,346$2,136$1,320$794$469$304
40 years$3,226$2,033$1,237$733$425$272
41 years$3,113$1,935$1,160$676$386$244
42 years$3,005$1,843$1,088$624$350$218
43 years$2,902$1,756$1,021$576$318$195
44 years$2,804$1,674$958$532$288$175
45 years$2,711$1,596$900$491$262$156
46 years$2,622$1,522$845$454$238$140
47 years$2,537$1,453$794$419$216$125
48 years$2,456$1,387$746$387$196$112
49 years$2,378$1,324$701$358$178$101
50 years$2,304$1,265$659$331$162$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,360,000, adding $3,941 every year, while hoping to spend $56,901 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: 33/50/17 Blend
57$2,360,000$2,360,000$2,360,000$2,360,000
58$2,604,785$2,479,705$2,443,125$2,676,847
59$2,809,931$2,540,668$2,464,428$2,791,294
60$3,034,095$2,602,712$2,484,537$2,909,010
61$3,279,156$2,665,828$2,503,352$3,034,665
62$3,547,184$2,730,008$2,520,769$3,168,988
63$3,840,458$2,795,240$2,536,676$3,312,782
64$4,161,488$2,861,509$2,550,957$3,466,933
65$4,513,035$2,928,799$2,563,490$3,632,414
66$4,898,143$2,997,088$2,574,145$3,810,299
67$5,320,162$3,066,354$2,582,788$4,001,770
68$5,782,783$3,136,570$2,589,276$4,208,132
69$6,290,071$3,207,706$2,593,460$4,430,819
70$6,846,501$3,279,727$2,595,184$4,671,414
71$7,457,005$3,352,594$2,594,283$4,931,661
72$8,127,013$3,426,265$2,590,585$5,213,484
73$8,862,508$3,500,691$2,583,910$5,519,000
74$9,670,079$3,575,821$2,574,066$5,850,546
75$10,556,986$3,651,595$2,560,856$6,210,695
76$11,531,225$3,727,950$2,544,072$6,602,285
77$12,601,606$3,804,814$2,523,493$7,028,446
78$13,777,832$3,882,113$2,498,893$7,492,627
79$15,070,596$3,959,761$2,470,031$7,998,628
80$16,491,675$4,037,668$2,436,655$8,550,643
81$18,054,047$4,115,735$2,398,504$9,153,291
82$19,772,007$4,193,853$2,355,301$9,811,668
83$21,661,308$4,271,908$2,306,760$10,531,391
84$23,739,302$4,349,773$2,252,578$11,318,652
85$26,025,112$4,427,312$2,192,440$12,180,277
86$28,539,802$4,504,379$2,126,015$13,123,793
87$31,306,585$4,580,817$2,052,960$14,157,499
88$34,351,035$4,656,456$1,972,912$15,290,542
89$37,701,331$4,731,112$1,885,495$16,533,009
90$41,388,522$4,804,592$1,790,314$17,896,019
91$45,446,818$4,876,684$1,686,957$19,391,830
92$49,913,915$4,947,163$1,574,992$21,033,958
93$54,831,350$5,015,789$1,453,969$22,837,302
94$60,244,888$5,082,304$1,323,418$24,818,289
95$66,204,961$5,146,431$1,182,847$26,995,026
96$72,767,136$5,207,876$1,031,742$29,387,479
97$79,992,646$5,266,323$869,567$32,017,653
98$87,948,960$5,321,437$695,761$34,909,813
99$96,710,426$5,372,859$509,741$38,090,704
100$106,358,967$5,420,208$310,896$41,589,811