Can I retire at age 58 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$123,869$122,765$121,689$120,638$119,612$115,322
2 years$61,321$60,179$59,072$57,999$56,958$52,683
3 years$40,475$39,328$38,224$37,161$36,137$32,010
4 years$30,053$28,910$27,817$26,772$25,773$21,826
5 years$23,802$22,666$21,587$20,564$19,592$15,836
6 years$19,636$18,508$17,446$16,445$15,503$11,940
7 years$16,662$15,543$14,497$13,520$12,608$9,238
8 years$14,432$13,323$12,295$11,342$10,459$7,279
9 years$12,698$11,600$10,590$9,661$8,808$5,813
10 years$11,312$10,225$9,232$8,328$7,505$4,690
11 years$10,179$9,103$8,128$7,247$6,455$3,814
12 years$9,236$8,170$7,213$6,357$5,593$3,121
13 years$8,438$7,384$6,445$5,612$4,878$2,567
14 years$7,754$6,711$5,791$4,982$4,276$2,119
15 years$7,163$6,131$5,228$4,443$3,765$1,755
16 years$6,646$5,625$4,740$3,978$3,327$1,457
17 years$6,190$5,181$4,313$3,574$2,950$1,213
18 years$5,785$4,787$3,937$3,221$2,623$1,011
19 years$5,423$4,437$3,605$2,911$2,338$844
20 years$5,098$4,123$3,308$2,636$2,088$706
21 years$4,804$3,840$3,043$2,393$1,869$590
22 years$4,537$3,585$2,804$2,175$1,675$494
23 years$4,294$3,353$2,589$1,981$1,504$414
24 years$4,072$3,141$2,395$1,807$1,352$347
25 years$3,867$2,948$2,218$1,650$1,216$291
26 years$3,679$2,770$2,057$1,509$1,096$245
27 years$3,505$2,607$1,910$1,381$988$205
28 years$3,343$2,457$1,776$1,265$891$172
29 years$3,193$2,318$1,652$1,160$805$145
30 years$3,053$2,189$1,539$1,065$727$122
31 years$2,923$2,069$1,435$978$657$102
32 years$2,801$1,958$1,339$899$595$86
33 years$2,686$1,854$1,250$827$538$72
34 years$2,579$1,757$1,168$761$487$61
35 years$2,478$1,667$1,092$700$441$51
36 years$2,382$1,582$1,022$645$400$43
37 years$2,292$1,503$956$594$362$36
38 years$2,207$1,428$895$548$329$30
39 years$2,127$1,358$839$505$298$26
40 years$2,051$1,292$786$466$270$21
41 years$1,978$1,230$737$430$245$18
42 years$1,910$1,171$692$397$222$15
43 years$1,844$1,116$649$366$202$13
44 years$1,782$1,064$609$338$183$11
45 years$1,723$1,014$572$312$166$9
46 years$1,666$968$537$288$151$8
47 years$1,613$923$505$266$137$6
48 years$1,561$882$474$246$125$5
49 years$1,512$842$446$227$113$5
50 years$1,465$804$419$210$103$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,500,000, adding $4,011 every year, while hoping to spend $21,991 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: 34/49/17 Blend
57$1,500,000$1,500,000$1,500,000$1,500,000
58$1,657,137$1,577,637$1,554,387$1,704,649
59$1,802,767$1,631,543$1,583,061$1,793,733
60$1,962,514$1,687,354$1,611,958$1,887,398
61$2,137,795$1,745,138$1,641,063$1,987,937
62$2,330,170$1,804,970$1,670,359$2,095,968
63$2,541,359$1,866,925$1,699,828$2,212,171
64$2,773,254$1,931,082$1,729,449$2,337,293
65$3,027,943$1,997,521$1,759,201$2,472,153
66$3,307,721$2,066,328$1,789,063$2,617,651
67$3,615,122$2,137,591$1,819,010$2,774,778
68$3,952,932$2,211,401$1,849,014$2,944,621
69$4,324,225$2,287,853$1,879,050$3,128,374
70$4,732,384$2,367,046$1,909,087$3,327,351
71$5,181,140$2,449,084$1,939,093$3,542,998
72$5,674,599$2,534,071$1,969,036$3,776,901
73$6,217,287$2,622,121$1,998,878$4,030,808
74$6,814,192$2,713,346$2,028,582$4,306,639
75$7,470,808$2,807,868$2,058,108$4,606,509
76$8,193,188$2,905,812$2,087,412$4,932,740
77$8,988,002$3,007,305$2,116,449$5,287,892
78$9,862,599$3,112,484$2,145,171$5,674,778
79$10,825,076$3,221,488$2,173,526$6,096,495
80$11,884,356$3,334,462$2,201,461$6,556,452
81$13,050,268$3,451,559$2,228,918$7,058,400
82$14,333,645$3,572,935$2,255,836$7,606,468
83$15,746,422$3,698,754$2,282,153$8,205,200
84$17,301,751$3,829,187$2,307,799$8,859,601
85$19,014,124$3,964,411$2,332,704$9,575,177
86$20,899,507$4,104,610$2,356,792$10,357,995
87$22,975,497$4,249,976$2,379,985$11,214,731
88$25,261,482$4,400,709$2,402,198$12,152,738
89$27,778,825$4,557,015$2,423,344$13,180,111
90$30,551,068$4,719,112$2,443,329$14,305,766
91$33,604,152$4,887,224$2,462,055$15,539,521
92$36,966,662$5,061,585$2,479,421$16,892,189
93$40,670,098$5,242,438$2,495,318$18,375,677
94$44,749,168$5,430,038$2,509,631$20,003,102
95$49,242,121$5,624,648$2,522,242$21,788,910
96$54,191,104$5,826,542$2,533,024$23,749,010
97$59,642,562$6,036,008$2,541,845$25,900,928
98$65,647,673$6,253,342$2,548,566$28,263,971
99$72,262,835$6,478,855$2,553,043$30,859,401
100$79,550,195$6,712,870$2,555,120$33,710,644