Can I retire at age 58 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$198,190$196,424$194,702$193,021$191,379$186,905
2 years$98,114$96,286$94,516$92,799$91,133$86,650
3 years$64,759$62,924$61,158$59,457$57,819$53,468
4 years$48,086$46,256$44,507$42,835$41,237$37,051
5 years$38,084$36,265$34,539$32,902$31,347$27,339
6 years$31,418$29,613$27,913$26,312$24,804$20,977
7 years$26,659$24,869$23,196$21,632$20,172$16,528
8 years$23,091$21,318$19,672$18,147$16,735$13,271
9 years$20,318$18,561$16,943$15,457$14,093$10,807
10 years$18,100$16,360$14,772$13,324$12,008$8,896
11 years$16,287$14,565$13,005$11,596$10,327$7,385
12 years$14,777$13,072$11,541$10,171$8,950$6,172
13 years$13,500$11,814$10,311$8,980$7,804$5,186
14 years$12,407$10,738$9,265$7,971$6,841$4,378
15 years$11,460$9,810$8,365$7,109$6,023$3,709
16 years$10,633$9,000$7,584$6,365$5,324$3,151
17 years$9,904$8,289$6,901$5,719$4,720$2,685
18 years$9,256$7,659$6,300$5,154$4,197$2,292
19 years$8,677$7,099$5,767$4,657$3,741$1,960
20 years$8,157$6,596$5,293$4,218$3,341$1,679
21 years$7,687$6,144$4,868$3,828$2,990$1,440
22 years$7,260$5,735$4,487$3,481$2,680$1,236
23 years$6,871$5,364$4,143$3,170$2,406$1,062
24 years$6,515$5,026$3,832$2,891$2,163$914
25 years$6,188$4,717$3,549$2,640$1,946$786
26 years$5,886$4,433$3,291$2,414$1,753$677
27 years$5,607$4,172$3,056$2,210$1,580$584
28 years$5,349$3,931$2,841$2,025$1,426$503
29 years$5,109$3,708$2,644$1,857$1,288$434
30 years$4,885$3,502$2,463$1,704$1,163$374
31 years$4,677$3,311$2,296$1,565$1,052$323
32 years$4,481$3,133$2,142$1,438$951$279
33 years$4,298$2,967$2,000$1,323$861$240
34 years$4,126$2,812$1,869$1,217$780$208
35 years$3,964$2,667$1,747$1,120$706$179
36 years$3,812$2,531$1,634$1,032$640$155
37 years$3,668$2,404$1,530$951$580$134
38 years$3,532$2,285$1,433$876$526$115
39 years$3,403$2,173$1,342$808$477$100
40 years$3,281$2,067$1,258$745$432$86
41 years$3,165$1,968$1,180$687$392$74
42 years$3,056$1,874$1,107$634$356$64
43 years$2,951$1,785$1,038$586$323$56
44 years$2,852$1,702$975$541$293$48
45 years$2,757$1,623$915$499$266$42
46 years$2,666$1,548$860$461$242$36
47 years$2,580$1,477$808$426$219$31
48 years$2,498$1,410$759$394$199$27
49 years$2,419$1,347$713$364$181$23
50 years$2,343$1,287$671$336$164$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $2,400,000, adding $4,922 every year, while hoping to spend $46,056 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: 53/24/23 Blend
57$2,400,000$2,400,000$2,400,000$2,400,000
58$2,649,877$2,522,677$2,485,477$2,773,233
59$2,871,161$2,597,285$2,519,737$2,933,380
60$3,113,473$2,674,005$2,553,602$3,102,383
61$3,378,908$2,752,892$2,587,008$3,285,332
62$3,669,775$2,834,003$2,619,892$3,483,573
63$3,988,617$2,917,393$2,652,182$3,698,590
64$4,338,233$3,003,122$2,683,808$3,932,016
65$4,721,707$3,091,250$2,714,690$4,185,648
66$5,142,436$3,181,836$2,744,747$4,461,467
67$5,604,162$3,274,944$2,773,893$4,761,652
68$6,111,005$3,370,635$2,802,037$5,088,606
69$6,667,506$3,468,974$2,829,084$5,444,973
70$7,278,665$3,570,027$2,854,932$5,833,667
71$7,949,992$3,673,861$2,879,474$6,257,896
72$8,687,553$3,780,543$2,902,600$6,721,197
73$9,498,037$3,890,142$2,924,189$7,227,462
74$10,388,806$4,002,729$2,944,119$7,780,982
75$11,367,976$4,118,374$2,962,259$8,386,484
76$12,444,486$4,237,151$2,978,471$9,049,173
77$13,628,185$4,359,133$2,992,611$9,774,788
78$14,929,923$4,484,394$3,004,527$10,569,648
79$16,361,656$4,613,010$3,014,060$11,440,717
80$17,936,556$4,745,058$3,021,041$12,395,668
81$19,669,134$4,880,616$3,025,296$13,442,955
82$21,575,382$5,019,762$3,026,640$14,591,893
83$23,672,917$5,162,576$3,024,878$15,852,747
84$25,981,151$5,309,139$3,019,808$17,236,827
85$28,521,473$5,459,532$3,011,217$18,756,595
86$31,317,451$5,613,837$2,998,880$20,425,783
87$34,395,053$5,772,136$2,982,564$22,259,524
88$37,782,891$5,934,514$2,962,023$24,274,493
89$41,512,494$6,101,053$2,936,999$26,489,064
90$45,618,603$6,271,840$2,907,223$28,923,485
91$50,139,498$6,446,957$2,872,412$31,600,068
92$55,117,360$6,626,491$2,832,271$34,543,402
93$60,598,668$6,810,526$2,786,490$37,780,581
94$66,634,639$6,999,149$2,734,743$41,341,463
95$73,281,708$7,192,443$2,676,693$45,258,951
96$80,602,064$7,390,495$2,611,984$49,569,305
97$88,664,233$7,593,388$2,540,245$54,312,481
98$97,543,728$7,801,206$2,461,086$59,532,511
99$107,323,757$8,014,034$2,374,100$65,277,920
100$118,096,011$8,231,953$2,278,864$71,602,180