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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.4%
1 years$127,998$126,857$125,745$124,659$123,599$121,853
2 years$63,365$62,185$61,041$59,932$58,857$57,101
3 years$41,824$40,639$39,498$38,399$37,341$35,630
4 years$31,055$29,874$28,744$27,664$26,632$24,979
5 years$24,596$23,421$22,307$21,249$20,245$18,655
6 years$20,291$19,125$18,027$16,993$16,019$14,494
7 years$17,217$16,061$14,981$13,971$13,028$11,568
8 years$14,913$13,768$12,705$11,720$10,808$9,413
9 years$13,122$11,987$10,943$9,983$9,102$7,771
10 years$11,690$10,566$9,540$8,605$7,755$6,488
11 years$10,519$9,406$8,399$7,489$6,670$5,465
12 years$9,543$8,443$7,454$6,569$5,780$4,636
13 years$8,719$7,630$6,659$5,799$5,040$3,955
14 years$8,013$6,935$5,984$5,148$4,418$3,391
15 years$7,402$6,335$5,402$4,591$3,890$2,919
16 years$6,867$5,813$4,898$4,111$3,438$2,520
17 years$6,396$5,353$4,457$3,694$3,048$2,183
18 years$5,978$4,947$4,069$3,329$2,711$1,895
19 years$5,604$4,584$3,725$3,008$2,416$1,648
20 years$5,268$4,260$3,418$2,724$2,158$1,436
21 years$4,964$3,968$3,144$2,472$1,931$1,254
22 years$4,689$3,704$2,898$2,248$1,731$1,096
23 years$4,437$3,464$2,676$2,047$1,554$959
24 years$4,207$3,246$2,475$1,867$1,397$839
25 years$3,996$3,046$2,292$1,705$1,257$736
26 years$3,801$2,863$2,126$1,559$1,132$645
27 years$3,621$2,694$1,974$1,427$1,021$566
28 years$3,455$2,539$1,835$1,308$921$498
29 years$3,300$2,395$1,708$1,199$832$437
30 years$3,155$2,262$1,591$1,100$751$384
31 years$3,020$2,138$1,483$1,011$679$338
32 years$2,894$2,023$1,383$929$615$297
33 years$2,776$1,916$1,292$854$556$262
34 years$2,665$1,816$1,207$786$504$230
35 years$2,560$1,722$1,128$723$456$203
36 years$2,462$1,635$1,056$666$413$178
37 years$2,369$1,553$988$614$374$157
38 years$2,281$1,476$925$566$340$138
39 years$2,198$1,403$867$522$308$122
40 years$2,119$1,335$813$481$279$107
41 years$2,044$1,271$762$444$253$95
42 years$1,973$1,210$715$410$230$83
43 years$1,906$1,153$671$378$209$74
44 years$1,842$1,099$629$349$189$65
45 years$1,780$1,048$591$323$172$57
46 years$1,722$1,000$555$298$156$50
47 years$1,666$954$522$275$142$44
48 years$1,613$911$490$254$129$39
49 years$1,562$870$461$235$117$34
50 years$1,513$831$433$217$106$30

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 $4,266 every year, while hoping to spend $59,435 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: 72/14/14 Blend
57$1,550,000$1,550,000$1,550,000$1,550,000
58$1,712,500$1,630,350$1,606,325$1,830,245
59$1,823,937$1,646,999$1,596,899$1,925,493
60$1,944,748$1,662,472$1,585,165$2,022,093
61$2,075,827$1,676,648$1,570,982$2,126,301
62$2,218,157$1,689,399$1,554,206$2,238,856
63$2,372,818$1,700,588$1,534,681$2,360,575
64$2,541,000$1,710,071$1,512,247$2,492,355
65$2,724,010$1,717,693$1,486,735$2,635,188
66$2,923,287$1,723,288$1,457,969$2,790,166
67$3,140,416$1,726,683$1,425,764$2,958,494
68$3,377,139$1,727,691$1,389,928$3,141,499
69$3,635,374$1,726,114$1,350,257$3,340,646
70$3,917,233$1,721,745$1,306,542$3,557,548
71$4,225,039$1,714,359$1,258,560$3,793,985
72$4,561,352$1,703,721$1,206,080$4,051,919
73$4,928,988$1,689,581$1,148,861$4,333,513
74$5,331,047$1,671,673$1,086,651$4,641,153
75$5,770,944$1,649,716$1,019,184$4,977,468
76$6,252,439$1,623,410$946,185$5,345,358
77$6,779,671$1,592,441$867,366$5,748,020
78$7,357,200$1,556,473$782,425$6,188,978
79$7,990,045$1,515,151$691,047$6,672,118
80$8,683,737$1,468,101$592,905$7,201,726
81$9,444,365$1,414,924$487,654$7,782,525
82$10,278,636$1,355,201$374,936$8,419,723
83$11,193,937$1,288,486$254,376$9,119,064
84$12,198,406$1,214,309$125,585$9,886,877
85$13,301,005$1,132,172$0$10,730,144
86$14,511,607$1,041,549$0$11,658,329
87$15,841,089$941,882$0$12,698,282
88$17,301,431$832,586$0$13,840,640
89$18,905,831$713,036$0$15,095,786
90$20,668,829$582,578$0$16,475,159
91$22,606,443$440,518$0$17,991,365
92$24,736,319$286,123$0$19,658,299
93$27,077,899$118,618$0$21,491,272
94$29,652,603$0$0$23,507,158
95$32,484,028$0$0$25,734,232
96$35,598,174$0$0$28,203,864
97$39,023,688$0$0$30,920,507
98$42,792,132$0$0$33,909,204
99$46,938,279$0$0$37,197,543
100$51,500,445$0$0$40,815,926