Can I retire at age 58 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$130,475$129,313$128,179$127,072$125,991$124,160
2 years$64,592$63,389$62,223$61,092$59,996$58,155
3 years$42,633$41,425$40,262$39,142$38,064$36,270
4 years$31,656$30,452$29,301$28,200$27,147$25,415
5 years$25,072$23,875$22,738$21,660$20,637$18,971
6 years$20,684$19,495$18,376$17,322$16,329$14,731
7 years$17,550$16,372$15,271$14,241$13,280$11,751
8 years$15,202$14,034$12,951$11,947$11,017$9,556
9 years$13,376$12,219$11,154$10,176$9,278$7,885
10 years$11,916$10,771$9,725$8,772$7,905$6,579
11 years$10,722$9,588$8,561$7,634$6,799$5,538
12 years$9,728$8,606$7,598$6,696$5,892$4,695
13 years$8,888$7,777$6,788$5,912$5,138$4,003
14 years$8,168$7,069$6,099$5,248$4,504$3,429
15 years$7,545$6,458$5,507$4,680$3,965$2,950
16 years$7,000$5,925$4,993$4,190$3,505$2,546
17 years$6,520$5,457$4,543$3,765$3,107$2,203
18 years$6,093$5,042$4,147$3,393$2,763$1,911
19 years$5,712$4,673$3,797$3,066$2,463$1,661
20 years$5,370$4,343$3,484$2,777$2,200$1,447
21 years$5,060$4,045$3,205$2,520$1,969$1,262
22 years$4,779$3,776$2,954$2,291$1,765$1,102
23 years$4,523$3,531$2,727$2,087$1,584$963
24 years$4,289$3,309$2,522$1,903$1,424$843
25 years$4,073$3,105$2,336$1,738$1,281$738
26 years$3,875$2,918$2,167$1,589$1,154$647
27 years$3,692$2,746$2,012$1,455$1,040$567
28 years$3,521$2,588$1,870$1,333$939$498
29 years$3,363$2,441$1,741$1,222$848$437
30 years$3,216$2,306$1,621$1,122$766$384
31 years$3,079$2,180$1,512$1,030$692$337
32 years$2,950$2,062$1,410$947$626$297
33 years$2,830$1,953$1,317$871$567$261
34 years$2,716$1,851$1,230$801$513$229
35 years$2,610$1,756$1,150$737$465$202
36 years$2,509$1,666$1,076$679$421$177
37 years$2,415$1,583$1,007$626$382$156
38 years$2,325$1,504$943$577$346$137
39 years$2,240$1,430$884$532$314$121
40 years$2,160$1,361$828$491$285$106
41 years$2,084$1,295$777$453$258$94
42 years$2,012$1,234$728$418$234$83
43 years$1,943$1,175$684$386$213$73
44 years$1,877$1,120$642$356$193$64
45 years$1,815$1,068$603$329$175$56
46 years$1,755$1,019$566$304$159$50
47 years$1,699$973$532$281$144$44
48 years$1,644$929$500$259$131$39
49 years$1,592$887$470$240$119$34
50 years$1,543$847$441$221$108$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,580,000, adding $5,127 every year, while hoping to spend $29,635 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: 73/9/18 Blend
57$1,580,000$1,580,000$1,580,000$1,580,000
58$1,746,449$1,662,709$1,638,219$1,866,233
59$1,893,055$1,712,650$1,661,567$1,996,357
60$2,053,622$1,764,045$1,684,705$2,134,767
61$2,229,542$1,816,934$1,707,594$2,285,626
62$2,422,349$1,871,358$1,730,192$2,450,164
63$2,633,733$1,927,358$1,752,458$2,629,735
64$2,865,553$1,984,978$1,774,344$2,825,832
65$3,119,859$2,044,262$1,795,805$3,040,099
66$3,398,908$2,105,254$1,816,787$3,274,346
67$3,705,186$2,168,001$1,837,239$3,530,567
68$4,041,431$2,232,549$1,857,103$3,810,961
69$4,410,661$2,298,947$1,876,319$4,117,946
70$4,816,197$2,367,244$1,894,824$4,454,189
71$5,261,701$2,437,491$1,912,553$4,822,627
72$5,751,205$2,509,739$1,929,434$5,226,498
73$6,289,152$2,584,040$1,945,394$5,669,365
74$6,880,436$2,660,449$1,960,356$6,155,157
75$7,530,450$2,739,021$1,974,237$6,688,201
76$8,245,134$2,819,811$1,986,952$7,273,267
77$9,031,033$2,902,877$1,998,410$7,915,608
78$9,895,358$2,988,277$2,008,516$8,621,013
79$10,846,053$3,076,072$2,017,171$9,395,860
80$11,891,873$3,166,321$2,024,268$10,247,177
81$13,042,461$3,259,088$2,029,698$11,182,709
82$14,308,443$3,354,435$2,033,345$12,210,989
83$15,701,530$3,452,427$2,035,086$13,341,419
84$17,234,620$3,553,130$2,034,796$14,584,359
85$18,921,928$3,656,611$2,032,339$15,951,227
86$20,779,118$3,762,938$2,027,575$17,454,603
87$22,823,446$3,872,180$2,020,357$19,108,349
88$25,073,929$3,984,408$2,010,530$20,927,740
89$27,551,519$4,099,694$1,997,933$22,929,610
90$30,279,305$4,218,110$1,982,395$25,132,508
91$33,282,728$4,339,731$1,963,738$27,556,874
92$36,589,820$4,464,631$1,941,778$30,225,231
93$40,231,472$4,592,888$1,916,317$33,162,401
94$44,241,720$4,724,578$1,887,152$36,395,735
95$48,658,074$4,859,781$1,854,070$39,955,375
96$53,521,862$4,998,574$1,816,846$43,874,534
97$58,878,627$5,141,040$1,775,245$48,189,814
98$64,778,555$5,287,258$1,729,024$52,941,550
99$71,276,946$5,437,312$1,677,924$58,174,188
100$78,434,738$5,591,285$1,621,679$63,936,711