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%13.7%
1 years$127,172$126,039$124,934$123,855$122,802$120,917
2 years$62,956$61,784$60,647$59,546$58,477$56,582
3 years$41,554$40,376$39,243$38,152$37,100$35,255
4 years$30,855$29,681$28,559$27,486$26,460$24,679
5 years$24,437$23,270$22,163$21,112$20,115$18,402
6 years$20,160$19,002$17,911$16,883$15,916$14,274
7 years$17,106$15,958$14,884$13,881$12,944$11,373
8 years$14,817$13,679$12,623$11,644$10,738$9,239
9 years$13,037$11,910$10,872$9,918$9,043$7,614
10 years$11,614$10,498$9,478$8,550$7,705$6,345
11 years$10,451$9,346$8,345$7,441$6,627$5,334
12 years$9,482$8,388$7,406$6,527$5,743$4,516
13 years$8,663$7,580$6,617$5,762$5,008$3,846
14 years$7,961$6,890$5,945$5,115$4,390$3,290
15 years$7,354$6,295$5,368$4,562$3,865$2,826
16 years$6,823$5,775$4,866$4,084$3,416$2,436
17 years$6,355$5,319$4,428$3,670$3,029$2,105
18 years$5,939$4,915$4,042$3,307$2,693$1,823
19 years$5,568$4,555$3,701$2,988$2,400$1,583
20 years$5,234$4,233$3,396$2,707$2,144$1,376
21 years$4,932$3,943$3,124$2,456$1,919$1,198
22 years$4,658$3,680$2,879$2,233$1,720$1,045
23 years$4,409$3,442$2,658$2,034$1,544$912
24 years$4,180$3,225$2,459$1,855$1,388$797
25 years$3,970$3,026$2,277$1,694$1,249$697
26 years$3,777$2,844$2,112$1,549$1,125$610
27 years$3,598$2,677$1,961$1,418$1,014$534
28 years$3,432$2,522$1,823$1,299$915$468
29 years$3,278$2,380$1,697$1,191$826$410
30 years$3,135$2,247$1,580$1,093$747$360
31 years$3,001$2,124$1,473$1,004$675$315
32 years$2,875$2,010$1,375$923$611$277
33 years$2,758$1,904$1,283$849$553$243
34 years$2,648$1,804$1,199$781$500$213
35 years$2,544$1,711$1,121$719$453$187
36 years$2,446$1,624$1,049$662$411$164
37 years$2,354$1,543$982$610$372$144
38 years$2,266$1,466$919$562$337$127
39 years$2,184$1,394$861$518$306$112
40 years$2,105$1,326$807$478$277$98
41 years$2,031$1,263$757$441$252$86
42 years$1,961$1,202$710$407$228$76
43 years$1,894$1,146$666$376$207$67
44 years$1,830$1,092$625$347$188$59
45 years$1,769$1,041$587$320$171$51
46 years$1,711$993$552$296$155$45
47 years$1,656$948$518$273$141$40
48 years$1,603$905$487$253$128$35
49 years$1,552$864$458$234$116$31
50 years$1,504$826$430$216$106$27

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 $5,490 every year, while hoping to spend $46,200 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: 34/39/27 Blend
57$1,540,000$1,540,000$1,540,000$1,540,000
58$1,702,743$1,621,123$1,597,253$1,746,551
59$1,827,266$1,651,402$1,601,604$1,810,253
60$1,962,943$1,681,615$1,604,553$1,874,370
61$2,110,861$1,711,712$1,606,004$1,942,610
62$2,272,219$1,741,637$1,605,855$2,015,372
63$2,448,336$1,771,328$1,604,003$2,093,096
64$2,640,664$1,800,721$1,600,335$2,176,269
65$2,850,802$1,829,746$1,594,736$2,265,430
66$3,080,509$1,858,329$1,587,084$2,361,171
67$3,331,722$1,886,388$1,577,252$2,464,152
68$3,606,574$1,913,837$1,565,107$2,575,099
69$3,907,414$1,940,585$1,550,507$2,694,815
70$4,236,828$1,966,531$1,533,307$2,824,188
71$4,597,664$1,991,571$1,513,353$2,964,200
72$4,993,059$2,015,592$1,490,484$3,115,933
73$5,426,467$2,038,472$1,464,531$3,280,586
74$5,901,693$2,060,083$1,435,319$3,459,484
75$6,422,926$2,080,287$1,402,662$3,654,087
76$6,994,781$2,098,938$1,366,368$3,866,012
77$7,622,342$2,115,879$1,326,235$4,097,043
78$8,311,208$2,130,944$1,282,051$4,349,152
79$9,067,547$2,143,957$1,233,596$4,624,515
80$9,898,154$2,154,727$1,180,638$4,925,536
81$10,810,513$2,163,056$1,122,936$5,254,871
82$11,812,868$2,168,729$1,060,238$5,615,452
83$12,914,304$2,171,520$992,279$6,010,515
84$14,124,827$2,171,188$918,785$6,443,634
85$15,455,461$2,167,478$839,466$6,918,756
86$16,918,352$2,160,118$754,021$7,440,236
87$18,526,880$2,148,821$662,137$8,012,882
88$20,295,788$2,133,279$563,485$8,642,002
89$22,241,319$2,113,170$457,722$9,333,453
90$24,381,367$2,088,149$344,489$10,093,700
91$26,735,651$2,057,852$223,414$10,929,877
92$29,325,894$2,021,894$94,105$11,849,858
93$32,176,033$1,979,864$0$12,862,329
94$35,312,441$1,931,330$0$13,989,523
95$38,764,178$1,875,834$0$15,259,124
96$42,563,263$1,812,888$0$16,655,792
97$46,744,977$1,741,981$0$18,192,532
98$51,348,194$1,662,567$0$19,883,689
99$56,415,748$1,574,072$0$21,745,074
100$61,994,839$1,475,886$0$23,794,121