Can I retire at age 58 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$127,172$126,039$124,934$123,855$122,802$119,542
2 years$62,956$61,784$60,647$59,546$58,477$55,216
3 years$41,554$40,376$39,243$38,152$37,100$33,939
4 years$30,855$29,681$28,559$27,486$26,460$23,424
5 years$24,437$23,270$22,163$21,112$20,115$17,212
6 years$20,160$19,002$17,911$16,883$15,916$13,149
7 years$17,106$15,958$14,884$13,881$12,944$10,313
8 years$14,817$13,679$12,623$11,644$10,738$8,242
9 years$13,037$11,910$10,872$9,918$9,043$6,679
10 years$11,614$10,498$9,478$8,550$7,705$5,471
11 years$10,451$9,346$8,345$7,441$6,627$4,519
12 years$9,482$8,388$7,406$6,527$5,743$3,757
13 years$8,663$7,580$6,617$5,762$5,008$3,140
14 years$7,961$6,890$5,945$5,115$4,390$2,636
15 years$7,354$6,295$5,368$4,562$3,865$2,220
16 years$6,823$5,775$4,866$4,084$3,416$1,876
17 years$6,355$5,319$4,428$3,670$3,029$1,589
18 years$5,939$4,915$4,042$3,307$2,693$1,349
19 years$5,568$4,555$3,701$2,988$2,400$1,146
20 years$5,234$4,233$3,396$2,707$2,144$976
21 years$4,932$3,943$3,124$2,456$1,919$832
22 years$4,658$3,680$2,879$2,233$1,720$710
23 years$4,409$3,442$2,658$2,034$1,544$606
24 years$4,180$3,225$2,459$1,855$1,388$518
25 years$3,970$3,026$2,277$1,694$1,249$443
26 years$3,777$2,844$2,112$1,549$1,125$379
27 years$3,598$2,677$1,961$1,418$1,014$325
28 years$3,432$2,522$1,823$1,299$915$278
29 years$3,278$2,380$1,697$1,191$826$238
30 years$3,135$2,247$1,580$1,093$747$204
31 years$3,001$2,124$1,473$1,004$675$175
32 years$2,875$2,010$1,375$923$611$150
33 years$2,758$1,904$1,283$849$553$129
34 years$2,648$1,804$1,199$781$500$110
35 years$2,544$1,711$1,121$719$453$95
36 years$2,446$1,624$1,049$662$411$81
37 years$2,354$1,543$982$610$372$70
38 years$2,266$1,466$919$562$337$60
39 years$2,184$1,394$861$518$306$51
40 years$2,105$1,326$807$478$277$44
41 years$2,031$1,263$757$441$252$38
42 years$1,961$1,202$710$407$228$32
43 years$1,894$1,146$666$376$207$28
44 years$1,830$1,092$625$347$188$24
45 years$1,769$1,041$587$320$171$20
46 years$1,711$993$552$296$155$18
47 years$1,656$948$518$273$141$15
48 years$1,603$905$487$253$128$13
49 years$1,552$864$458$234$116$11
50 years$1,504$826$430$216$106$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,540,000, adding $4,968 every year, while hoping to spend $46,992 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: 48/24/28 Blend
57$1,540,000$1,540,000$1,540,000$1,540,000
58$1,702,204$1,620,584$1,596,714$1,770,094
59$1,825,830$1,649,994$1,600,205$1,847,766
60$1,960,491$1,679,270$1,602,238$1,927,065
61$2,107,262$1,708,355$1,602,714$2,012,276
62$2,267,329$1,737,190$1,601,531$2,103,979
63$2,441,993$1,765,709$1,598,579$2,202,816
64$2,632,690$1,793,843$1,593,746$2,309,497
65$2,841,000$1,821,516$1,586,911$2,424,802
66$3,068,659$1,848,648$1,577,950$2,549,596
67$3,317,584$1,875,153$1,566,732$2,684,831
68$3,589,879$1,900,938$1,553,120$2,831,558
69$3,887,868$1,925,904$1,536,970$2,990,940
70$4,214,103$1,949,946$1,518,132$3,164,257
71$4,571,399$1,972,951$1,496,446$3,352,924
72$4,962,854$1,994,798$1,471,750$3,558,502
73$5,391,880$2,015,358$1,443,868$3,782,713
74$5,862,235$2,034,495$1,412,622$4,027,458
75$6,378,059$2,052,061$1,377,821$4,294,836
76$6,943,911$2,067,901$1,339,267$4,587,161
77$7,564,810$2,081,849$1,296,753$4,906,988
78$8,246,289$2,093,728$1,250,062$5,257,135
79$8,994,440$2,103,350$1,198,969$5,640,713
80$9,815,973$2,110,514$1,143,235$6,061,152
81$10,718,282$2,115,009$1,082,613$6,522,238
82$11,709,510$2,116,608$1,016,844$7,028,147
83$12,798,630$2,115,072$945,658$7,583,486
84$13,995,525$2,110,145$868,771$8,193,338
85$15,311,082$2,101,556$785,890$8,863,309
86$16,757,300$2,089,019$696,704$9,599,582
87$18,347,392$2,072,229$600,891$10,408,979
88$20,095,921$2,050,863$498,116$11,299,024
89$22,018,928$2,024,579$388,026$12,278,014
90$24,134,089$1,993,013$270,255$13,355,102
91$26,460,877$1,955,781$144,419$14,540,380
92$29,020,748$1,912,476$10,119$15,844,981
93$31,837,343$1,862,666$0$17,281,180
94$34,936,709$1,805,894$0$18,902,311
95$38,347,548$1,741,678$0$20,689,319
96$42,101,482$1,669,504$0$22,655,774
97$46,233,356$1,588,832$0$24,819,972
98$50,781,563$1,499,090$0$27,202,076
99$55,788,407$1,399,670$0$29,824,309
100$61,300,505$1,289,934$0$32,711,166