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%12.1%
1 years$128,823$127,676$126,556$125,464$124,397$123,303
2 years$63,774$62,586$61,435$60,319$59,236$58,134
3 years$42,094$40,901$39,753$38,647$37,582$36,506
4 years$31,256$30,066$28,930$27,843$26,804$25,761
5 years$24,754$23,572$22,451$21,386$20,376$19,371
6 years$20,422$19,249$18,143$17,103$16,123$15,156
7 years$17,328$16,165$15,077$14,061$13,112$12,184
8 years$15,009$13,856$12,787$11,795$10,878$9,988
9 years$13,206$12,064$11,013$10,047$9,161$8,310
10 years$11,765$10,634$9,602$8,661$7,805$6,992
11 years$10,586$9,467$8,453$7,537$6,713$5,937
12 years$9,605$8,497$7,502$6,611$5,817$5,078
13 years$8,775$7,679$6,702$5,837$5,073$4,370
14 years$8,065$6,980$6,022$5,181$4,447$3,779
15 years$7,449$6,376$5,437$4,621$3,915$3,281
16 years$6,911$5,850$4,930$4,137$3,460$2,859
17 years$6,437$5,388$4,486$3,717$3,068$2,499
18 years$6,016$4,979$4,095$3,350$2,728$2,189
19 years$5,640$4,614$3,749$3,027$2,432$1,923
20 years$5,302$4,288$3,440$2,742$2,172$1,692
21 years$4,996$3,994$3,164$2,488$1,944$1,491
22 years$4,719$3,728$2,917$2,262$1,742$1,316
23 years$4,466$3,487$2,693$2,060$1,564$1,163
24 years$4,235$3,267$2,491$1,879$1,406$1,028
25 years$4,022$3,066$2,307$1,716$1,265$911
26 years$3,826$2,881$2,139$1,569$1,139$807
27 years$3,645$2,712$1,987$1,436$1,027$716
28 years$3,477$2,555$1,847$1,316$927$635
29 years$3,321$2,411$1,719$1,207$837$564
30 years$3,175$2,276$1,601$1,108$756$501
31 years$3,040$2,152$1,492$1,017$684$445
32 years$2,913$2,036$1,392$935$618$396
33 years$2,794$1,928$1,300$860$560$352
34 years$2,682$1,828$1,215$791$507$313
35 years$2,577$1,733$1,136$728$459$279
36 years$2,478$1,645$1,062$671$416$248
37 years$2,384$1,563$994$618$377$221
38 years$2,296$1,485$931$569$342$197
39 years$2,212$1,412$872$525$310$175
40 years$2,133$1,344$818$484$281$156
41 years$2,058$1,279$767$447$255$139
42 years$1,986$1,218$719$412$231$124
43 years$1,918$1,161$675$381$210$111
44 years$1,854$1,106$634$351$191$99
45 years$1,792$1,055$595$325$173$88
46 years$1,733$1,006$559$300$157$78
47 years$1,677$960$525$277$143$70
48 years$1,623$917$493$256$130$62
49 years$1,572$875$464$237$118$56
50 years$1,523$836$436$219$107$50

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 $4,849 every year, while hoping to spend $23,505 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: 44/48/8 Blend
57$1,560,000$1,560,000$1,560,000$1,560,000
58$1,724,122$1,641,442$1,617,262$1,795,851
59$1,874,973$1,696,863$1,646,431$1,901,446
60$2,040,423$1,754,213$1,675,789$2,013,030
61$2,221,937$1,813,560$1,705,319$2,133,423
62$2,421,127$1,874,976$1,734,999$2,263,445
63$2,639,769$1,938,538$1,764,809$2,403,991
64$2,879,822$2,004,322$1,794,726$2,556,048
65$3,143,439$2,072,410$1,824,726$2,720,700
66$3,432,997$2,142,885$1,854,781$2,899,139
67$3,751,111$2,215,834$1,884,864$3,092,674
68$4,100,663$2,291,349$1,914,946$3,302,747
69$4,484,828$2,369,522$1,944,994$3,530,941
70$4,907,103$2,450,451$1,974,974$3,778,999
71$5,371,343$2,534,238$2,004,850$4,048,836
72$5,881,791$2,620,988$2,034,584$4,342,562
73$6,443,127$2,710,809$2,064,136$4,662,497
74$7,060,502$2,803,815$2,093,461$5,011,191
75$7,739,596$2,900,124$2,122,514$5,391,455
76$8,486,663$2,999,859$2,151,247$5,806,379
77$9,308,596$3,103,145$2,179,607$6,259,365
78$10,212,990$3,210,116$2,207,541$6,754,156
79$11,208,212$3,320,909$2,234,990$7,294,876
80$12,303,481$3,435,665$2,261,894$7,886,061
81$13,508,957$3,554,534$2,288,189$8,532,706
82$14,835,833$3,677,668$2,313,805$9,240,312
83$16,296,443$3,805,229$2,338,672$10,014,931
84$17,904,376$3,937,381$2,362,714$10,863,233
85$19,674,608$4,074,299$2,385,851$11,792,559
86$21,623,640$4,216,160$2,407,998$12,810,992
87$23,769,652$4,363,154$2,429,067$13,927,436
88$26,132,680$4,515,472$2,448,965$15,151,695
89$28,734,801$4,673,318$2,467,593$16,494,567
90$31,600,341$4,836,900$2,484,847$17,967,946
91$34,756,105$5,006,438$2,500,619$19,584,929
92$38,231,632$5,182,157$2,514,794$21,359,943
93$42,059,470$5,364,295$2,527,251$23,308,881
94$46,275,487$5,553,096$2,537,865$25,449,247
95$50,919,204$5,748,815$2,546,501$27,800,321
96$56,034,175$5,951,719$2,553,021$30,383,345
97$61,668,391$6,162,084$2,557,277$33,221,714
98$67,874,737$6,380,196$2,559,116$36,341,205
99$74,711,490$6,606,355$2,558,376$39,770,212
100$82,242,868$6,840,872$2,554,887$43,540,016