Can I retire at age 58 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$128,823$127,676$126,556$125,464$124,397$121,046
2 years$63,774$62,586$61,435$60,319$59,236$55,884
3 years$42,094$40,901$39,753$38,647$37,582$34,334
4 years$31,256$30,066$28,930$27,843$26,804$23,684
5 years$24,754$23,572$22,451$21,386$20,376$17,394
6 years$20,422$19,249$18,143$17,103$16,123$13,281
7 years$17,328$16,165$15,077$14,061$13,112$10,410
8 years$15,009$13,856$12,787$11,795$10,878$8,315
9 years$13,206$12,064$11,013$10,047$9,161$6,734
10 years$11,765$10,634$9,602$8,661$7,805$5,513
11 years$10,586$9,467$8,453$7,537$6,713$4,550
12 years$9,605$8,497$7,502$6,611$5,817$3,780
13 years$8,775$7,679$6,702$5,837$5,073$3,158
14 years$8,065$6,980$6,022$5,181$4,447$2,649
15 years$7,449$6,376$5,437$4,621$3,915$2,230
16 years$6,911$5,850$4,930$4,137$3,460$1,883
17 years$6,437$5,388$4,486$3,717$3,068$1,593
18 years$6,016$4,979$4,095$3,350$2,728$1,351
19 years$5,640$4,614$3,749$3,027$2,432$1,148
20 years$5,302$4,288$3,440$2,742$2,172$977
21 years$4,996$3,994$3,164$2,488$1,944$832
22 years$4,719$3,728$2,917$2,262$1,742$709
23 years$4,466$3,487$2,693$2,060$1,564$605
24 years$4,235$3,267$2,491$1,879$1,406$517
25 years$4,022$3,066$2,307$1,716$1,265$442
26 years$3,826$2,881$2,139$1,569$1,139$378
27 years$3,645$2,712$1,987$1,436$1,027$323
28 years$3,477$2,555$1,847$1,316$927$276
29 years$3,321$2,411$1,719$1,207$837$237
30 years$3,175$2,276$1,601$1,108$756$203
31 years$3,040$2,152$1,492$1,017$684$173
32 years$2,913$2,036$1,392$935$618$149
33 years$2,794$1,928$1,300$860$560$127
34 years$2,682$1,828$1,215$791$507$109
35 years$2,577$1,733$1,136$728$459$93
36 years$2,478$1,645$1,062$671$416$80
37 years$2,384$1,563$994$618$377$69
38 years$2,296$1,485$931$569$342$59
39 years$2,212$1,412$872$525$310$50
40 years$2,133$1,344$818$484$281$43
41 years$2,058$1,279$767$447$255$37
42 years$1,986$1,218$719$412$231$32
43 years$1,918$1,161$675$381$210$27
44 years$1,854$1,106$634$351$191$23
45 years$1,792$1,055$595$325$173$20
46 years$1,733$1,006$559$300$157$17
47 years$1,677$960$525$277$143$15
48 years$1,623$917$493$256$130$13
49 years$1,572$875$464$237$118$11
50 years$1,523$836$436$219$107$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,560,000, adding $3,444 every year, while hoping to spend $58,566 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: 67/14/19 Blend
57$1,560,000$1,560,000$1,560,000$1,560,000
58$1,722,672$1,639,992$1,615,812$1,829,767
59$1,836,071$1,658,038$1,607,628$1,919,909
60$1,959,074$1,675,006$1,597,207$2,011,332
61$2,092,598$1,690,779$1,584,412$2,109,888
62$2,237,653$1,705,238$1,569,100$2,216,275
63$2,395,350$1,718,250$1,551,121$2,331,265
64$2,566,909$1,729,678$1,530,317$2,455,708
65$2,753,675$1,739,374$1,506,525$2,590,544
66$2,957,128$1,747,181$1,479,570$2,736,807
67$3,178,893$1,752,931$1,449,274$2,895,640
68$3,420,763$1,756,447$1,415,448$3,068,301
69$3,684,709$1,757,541$1,377,893$3,256,181
70$3,972,900$1,756,012$1,336,404$3,460,811
71$4,287,726$1,751,647$1,290,764$3,683,882
72$4,631,817$1,744,220$1,240,747$3,927,258
73$5,008,067$1,733,492$1,186,117$4,192,995
74$5,419,664$1,719,207$1,126,626$4,483,361
75$5,870,119$1,701,098$1,062,017$4,800,858
76$6,363,297$1,678,876$992,020$5,148,245
77$6,903,452$1,652,241$916,352$5,528,565
78$7,495,273$1,620,870$834,719$5,945,173
79$8,143,922$1,584,423$746,813$6,401,770
80$8,855,083$1,542,540$652,312$6,902,439
81$9,635,017$1,494,841$550,880$7,451,680
82$10,490,621$1,440,920$442,167$8,054,457
83$11,429,491$1,380,352$325,806$8,716,245
84$12,459,994$1,312,684$201,415$9,443,080
85$13,591,346$1,237,438$68,595$10,241,618
86$14,833,699$1,154,109$0$11,119,200
87$16,198,238$1,062,162$0$12,098,748
88$17,697,282$961,031$0$13,190,163
89$19,344,403$850,120$0$14,389,457
90$21,154,554$728,798$0$15,707,575
91$23,144,206$596,396$0$17,156,581
92$25,331,507$452,212$0$18,749,770
93$27,736,451$295,500$0$20,501,794
94$30,381,064$125,475$0$22,428,801
95$33,289,616$0$0$24,548,587
96$36,488,846$0$0$26,889,808
97$40,008,213$0$0$29,486,679
98$43,880,177$0$0$32,343,836
99$48,140,501$0$0$35,487,682
100$52,828,592$0$0$38,947,311