Can I retire at age 58 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$197,364$195,606$193,891$192,217$190,582$184,852
2 years$97,705$95,885$94,122$92,412$90,753$85,028
3 years$64,490$62,662$60,903$59,209$57,578$52,037
4 years$47,885$46,063$44,322$42,657$41,065$35,752
5 years$37,925$36,114$34,396$32,765$31,217$26,146
6 years$31,287$29,490$27,797$26,202$24,701$19,876
7 years$26,548$24,766$23,099$21,542$20,088$15,510
8 years$22,995$21,229$19,590$18,071$16,665$12,330
9 years$20,233$18,483$16,873$15,393$14,035$9,938
10 years$18,025$16,292$14,710$13,269$11,958$8,094
11 years$16,219$14,504$12,951$11,548$10,284$6,647
12 years$14,715$13,018$11,493$10,129$8,912$5,493
13 years$13,444$11,764$10,268$8,942$7,772$4,564
14 years$12,355$10,694$9,226$7,938$6,813$3,807
15 years$11,413$9,769$8,330$7,079$5,998$3,187
16 years$10,589$8,963$7,552$6,339$5,301$2,675
17 years$9,862$8,254$6,872$5,695$4,701$2,251
18 years$9,217$7,627$6,274$5,133$4,180$1,898
19 years$8,641$7,069$5,743$4,638$3,725$1,602
20 years$8,123$6,569$5,271$4,200$3,327$1,355
21 years$7,655$6,119$4,848$3,812$2,978$1,147
22 years$7,230$5,711$4,468$3,466$2,669$972
23 years$6,842$5,342$4,126$3,157$2,396$824
24 years$6,488$5,005$3,816$2,879$2,154$699
25 years$6,162$4,697$3,534$2,629$1,938$594
26 years$5,862$4,414$3,278$2,404$1,746$504
27 years$5,584$4,154$3,044$2,201$1,574$429
28 years$5,327$3,915$2,829$2,016$1,420$364
29 years$5,088$3,693$2,633$1,849$1,282$310
30 years$4,865$3,488$2,453$1,697$1,159$264
31 years$4,657$3,297$2,286$1,558$1,047$224
32 years$4,463$3,120$2,133$1,432$948$191
33 years$4,280$2,954$1,992$1,317$858$162
34 years$4,109$2,800$1,861$1,212$776$138
35 years$3,948$2,656$1,740$1,115$703$118
36 years$3,796$2,521$1,628$1,027$637$100
37 years$3,653$2,394$1,523$947$577$85
38 years$3,517$2,275$1,427$872$524$73
39 years$3,389$2,164$1,337$804$475$62
40 years$3,268$2,058$1,253$742$431$53
41 years$3,152$1,959$1,175$685$391$45
42 years$3,043$1,866$1,102$632$354$38
43 years$2,939$1,778$1,034$583$322$33
44 years$2,840$1,695$971$538$292$28
45 years$2,745$1,616$911$497$265$24
46 years$2,655$1,542$856$459$241$20
47 years$2,569$1,471$804$424$219$17
48 years$2,487$1,405$756$392$198$15
49 years$2,409$1,341$710$362$180$12
50 years$2,333$1,281$668$335$164$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,390,000, adding $5,046 every year, while hoping to spend $31,645 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: 62/30/8 Blend
57$2,390,000$2,390,000$2,390,000$2,390,000
58$2,638,985$2,512,315$2,475,270$2,797,921
59$2,874,491$2,601,748$2,524,521$2,994,180
60$3,132,959$2,694,503$2,574,362$3,204,171
61$3,416,696$2,790,709$2,624,779$3,432,565
62$3,728,246$2,890,501$2,675,756$3,681,138
63$4,070,410$2,994,018$2,727,276$3,951,849
64$4,446,274$3,101,407$2,779,322$4,246,849
65$4,859,237$3,212,820$2,831,873$4,568,509
66$5,313,046$3,328,414$2,884,907$4,919,434
67$5,811,825$3,448,355$2,938,400$5,302,494
68$6,360,120$3,572,813$2,992,325$5,720,847
69$6,962,939$3,701,968$3,046,655$6,177,967
70$7,625,800$3,836,005$3,101,359$6,677,681
71$8,354,780$3,975,119$3,156,403$7,224,199
72$9,156,578$4,119,510$3,211,753$7,822,160
73$10,038,571$4,269,388$3,267,369$8,476,666
74$11,008,891$4,424,974$3,323,212$9,193,340
75$12,076,495$4,586,494$3,379,236$9,978,368
76$13,251,252$4,754,187$3,435,395$10,838,565
77$14,544,037$4,928,300$3,491,639$11,781,436
78$15,966,833$5,109,091$3,547,913$12,815,245
79$17,532,842$5,296,829$3,604,160$13,949,090
80$19,256,612$5,491,793$3,660,319$15,192,997
81$21,154,173$5,694,277$3,716,326$16,558,002
82$23,243,186$5,904,584$3,772,110$18,056,264
83$25,543,114$6,123,032$3,827,599$19,701,175
84$28,075,402$6,349,951$3,882,714$21,507,484
85$30,863,680$6,585,686$3,937,372$23,491,438
86$33,933,987$6,830,596$3,991,486$25,670,933
87$37,315,016$7,085,057$4,044,963$28,065,685
88$41,038,381$7,349,459$4,097,703$30,697,409
89$45,138,923$7,624,209$4,149,603$33,590,029
90$49,655,031$7,909,733$4,200,552$36,769,898
91$54,629,008$8,206,474$4,250,435$40,266,050
92$60,107,469$8,514,894$4,299,127$44,110,470
93$66,141,782$8,835,475$4,346,499$48,338,396
94$72,788,551$9,168,719$4,392,413$52,988,647
95$80,110,149$9,515,153$4,436,725$58,103,996
96$88,175,311$9,875,322$4,479,282$63,731,562
97$97,059,778$10,249,799$4,519,924$69,923,263
98$106,847,015$10,639,178$4,558,480$76,736,298
99$117,628,994$11,044,081$4,594,773$84,233,688
100$129,507,069$11,465,158$4,628,615$92,484,870