Can I retire at age 58 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$127,998$126,857$125,745$124,659$123,599$120,513
2 years$63,365$62,185$61,041$59,932$58,857$55,767
3 years$41,824$40,639$39,498$38,399$37,341$34,345
4 years$31,055$29,874$28,744$27,664$26,632$23,752
5 years$24,596$23,421$22,307$21,249$20,245$17,489
6 years$20,291$19,125$18,027$16,993$16,019$13,390
7 years$17,217$16,061$14,981$13,971$13,028$10,526
8 years$14,913$13,768$12,705$11,720$10,808$8,432
9 years$13,122$11,987$10,943$9,983$9,102$6,850
10 years$11,690$10,566$9,540$8,605$7,755$5,625
11 years$10,519$9,406$8,399$7,489$6,670$4,657
12 years$9,543$8,443$7,454$6,569$5,780$3,882
13 years$8,719$7,630$6,659$5,799$5,040$3,254
14 years$8,013$6,935$5,984$5,148$4,418$2,739
15 years$7,402$6,335$5,402$4,591$3,890$2,314
16 years$6,867$5,813$4,898$4,111$3,438$1,960
17 years$6,396$5,353$4,457$3,694$3,048$1,665
18 years$5,978$4,947$4,069$3,329$2,711$1,417
19 years$5,604$4,584$3,725$3,008$2,416$1,209
20 years$5,268$4,260$3,418$2,724$2,158$1,032
21 years$4,964$3,968$3,144$2,472$1,931$882
22 years$4,689$3,704$2,898$2,248$1,731$755
23 years$4,437$3,464$2,676$2,047$1,554$647
24 years$4,207$3,246$2,475$1,867$1,397$555
25 years$3,996$3,046$2,292$1,705$1,257$476
26 years$3,801$2,863$2,126$1,559$1,132$409
27 years$3,621$2,694$1,974$1,427$1,021$351
28 years$3,455$2,539$1,835$1,308$921$301
29 years$3,300$2,395$1,708$1,199$832$259
30 years$3,155$2,262$1,591$1,100$751$223
31 years$3,020$2,138$1,483$1,011$679$192
32 years$2,894$2,023$1,383$929$615$165
33 years$2,776$1,916$1,292$854$556$142
34 years$2,665$1,816$1,207$786$504$122
35 years$2,560$1,722$1,128$723$456$105
36 years$2,462$1,635$1,056$666$413$90
37 years$2,369$1,553$988$614$374$78
38 years$2,281$1,476$925$566$340$67
39 years$2,198$1,403$867$522$308$58
40 years$2,119$1,335$813$481$279$50
41 years$2,044$1,271$762$444$253$43
42 years$1,973$1,210$715$410$230$37
43 years$1,906$1,153$671$378$209$32
44 years$1,842$1,099$629$349$189$27
45 years$1,780$1,048$591$323$172$23
46 years$1,722$1,000$555$298$156$20
47 years$1,666$954$522$275$142$17
48 years$1,613$911$490$254$129$15
49 years$1,562$870$461$235$117$13
50 years$1,513$831$433$217$106$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,550,000, adding $4,121 every year, while hoping to spend $55,545 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: 50/39/11 Blend
57$1,550,000$1,550,000$1,550,000$1,550,000
58$1,712,351$1,630,201$1,606,176$1,792,721
59$1,827,911$1,650,981$1,600,883$1,868,970
60$1,953,397$1,670,918$1,593,552$1,945,573
61$2,089,762$1,689,912$1,584,054$2,027,542
62$2,238,056$1,707,855$1,572,258$2,115,398
63$2,399,432$1,724,635$1,558,023$2,209,714
64$2,575,161$1,740,129$1,541,204$2,311,123
65$2,766,641$1,754,209$1,521,648$2,420,326
66$2,975,410$1,766,736$1,499,194$2,538,095
67$3,203,159$1,777,564$1,473,675$2,665,284
68$3,451,754$1,786,537$1,444,915$2,802,837
69$3,723,243$1,793,488$1,412,731$2,951,794
70$4,019,887$1,798,241$1,376,930$3,113,307
71$4,344,169$1,800,609$1,337,311$3,288,644
72$4,698,827$1,800,392$1,293,664$3,479,209
73$5,086,874$1,797,378$1,245,768$3,686,551
74$5,511,629$1,791,343$1,193,395$3,912,379
75$5,976,743$1,782,047$1,136,302$4,158,583
76$6,486,242$1,769,238$1,074,239$4,427,246
77$7,044,556$1,752,648$1,006,943$4,720,672
78$7,656,564$1,731,991$934,139$5,041,401
79$8,327,641$1,706,966$855,540$5,392,238
80$9,063,706$1,677,253$770,846$5,776,282
81$9,871,279$1,642,514$679,745$6,196,949
82$10,757,542$1,602,389$581,909$6,658,013
83$11,730,404$1,556,499$476,995$7,163,640
84$12,798,579$1,504,442$364,649$7,718,424
85$13,971,666$1,445,791$244,497$8,327,439
86$15,260,238$1,380,097$116,149$8,996,283
87$16,675,944$1,306,883$0$9,731,133
88$18,231,615$1,225,645$0$10,541,249
89$19,941,388$1,135,851$0$11,446,415
90$21,820,839$1,036,936$0$12,441,337
91$23,887,123$928,305$0$13,535,224
92$26,159,147$809,329$0$14,738,234
93$28,657,737$679,343$0$16,061,572
94$31,405,838$537,643$0$17,517,592
95$34,428,734$383,488$0$19,119,921
96$37,754,280$216,094$0$20,883,588
97$41,413,167$34,633$0$22,825,163
98$45,439,210$0$0$24,962,921
99$49,869,670$0$0$27,386,440
100$54,745,600$0$0$30,070,187