Can I retire at age 58 with 1,590,000?

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 $1,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$131,301$130,131$128,990$127,876$126,789$121,710
2 years$65,000$63,790$62,617$61,479$60,376$55,323
3 years$42,903$41,687$40,517$39,390$38,305$33,437
4 years$31,857$30,645$29,486$28,378$27,319$22,673
5 years$25,231$24,026$22,882$21,797$20,768$16,355
6 years$20,815$19,619$18,492$17,432$16,433$12,257
7 years$17,662$16,476$15,367$14,331$13,364$9,423
8 years$15,298$14,123$13,033$12,022$11,087$7,377
9 years$13,460$12,296$11,225$10,240$9,337$5,852
10 years$11,991$10,839$9,786$8,827$7,955$4,689
11 years$10,790$9,649$8,616$7,682$6,842$3,786
12 years$9,790$8,661$7,646$6,738$5,929$3,075
13 years$8,944$7,827$6,831$5,949$5,170$2,510
14 years$8,220$7,114$6,138$5,281$4,532$2,056
15 years$7,593$6,499$5,542$4,710$3,991$1,690
16 years$7,044$5,963$5,024$4,217$3,527$1,392
17 years$6,561$5,491$4,572$3,789$3,127$1,149
18 years$6,132$5,074$4,174$3,415$2,781$950
19 years$5,749$4,703$3,821$3,085$2,478$787
20 years$5,404$4,370$3,507$2,794$2,214$652
21 years$5,092$4,071$3,225$2,536$1,981$541
22 years$4,810$3,800$2,973$2,306$1,776$449
23 years$4,552$3,554$2,745$2,100$1,594$373
24 years$4,316$3,330$2,538$1,915$1,433$310
25 years$4,099$3,125$2,351$1,749$1,289$258
26 years$3,900$2,937$2,180$1,599$1,161$215
27 years$3,715$2,764$2,025$1,464$1,047$178
28 years$3,544$2,604$1,882$1,341$945$149
29 years$3,385$2,457$1,752$1,230$853$124
30 years$3,237$2,320$1,632$1,129$771$103
31 years$3,098$2,193$1,521$1,037$697$86
32 years$2,969$2,075$1,419$953$630$71
33 years$2,847$1,965$1,325$876$570$59
34 years$2,734$1,863$1,238$806$517$50
35 years$2,626$1,767$1,158$742$468$41
36 years$2,525$1,677$1,083$683$424$34
37 years$2,430$1,593$1,014$630$384$29
38 years$2,340$1,514$949$580$348$24
39 years$2,255$1,439$889$535$316$20
40 years$2,174$1,369$833$494$286$17
41 years$2,097$1,304$782$455$260$14
42 years$2,024$1,241$733$420$236$12
43 years$1,955$1,183$688$388$214$10
44 years$1,889$1,128$646$358$194$8
45 years$1,826$1,075$606$331$176$7
46 years$1,766$1,026$569$306$160$6
47 years$1,709$979$535$282$145$5
48 years$1,655$934$503$261$132$4
49 years$1,602$892$473$241$120$3
50 years$1,552$852$444$223$109$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,590,000, adding $6,523 every year, while hoping to spend $21,486 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: 40/45/15 Blend
57$1,590,000$1,590,000$1,590,000$1,590,000
58$1,758,908$1,674,638$1,649,993$1,821,173
59$1,915,456$1,733,835$1,682,407$1,925,157
60$2,087,252$1,795,212$1,715,187$2,034,988
61$2,275,827$1,858,853$1,748,322$2,153,341
62$2,482,872$1,924,847$1,781,801$2,281,001
63$2,710,244$1,993,284$1,815,610$2,418,827
64$2,959,994$2,064,259$1,849,738$2,567,766
65$3,234,376$2,137,871$1,884,167$2,728,857
66$3,535,879$2,214,223$1,918,883$2,903,242
67$3,867,240$2,293,422$1,953,867$3,092,176
68$4,231,477$2,375,578$1,989,100$3,297,038
69$4,631,914$2,460,807$2,024,561$3,519,345
70$5,072,214$2,549,231$2,060,229$3,760,766
71$5,556,411$2,640,975$2,096,078$4,023,134
72$6,088,952$2,736,170$2,132,083$4,308,467
73$6,674,734$2,834,951$2,168,217$4,618,985
74$7,319,154$2,937,461$2,204,450$4,957,127
75$8,028,158$3,043,848$2,240,749$5,325,581
76$8,808,298$3,154,264$2,277,082$5,727,302
77$9,666,793$3,268,871$2,313,413$6,165,541
78$10,611,595$3,387,835$2,349,701$6,643,878
79$11,651,469$3,511,330$2,385,907$7,166,251
80$12,796,071$3,639,537$2,421,988$7,736,996
81$14,056,041$3,772,646$2,457,895$8,360,885
82$15,443,103$3,910,851$2,493,581$9,043,171
83$16,970,177$4,054,360$2,528,992$9,789,638
84$18,651,495$4,203,384$2,564,075$10,606,652
85$20,502,745$4,358,147$2,598,768$11,501,223
86$22,541,209$4,518,881$2,633,011$12,481,070
87$24,785,933$4,685,826$2,666,738$13,554,693
88$27,257,903$4,859,236$2,699,878$14,731,449
89$29,980,243$5,039,373$2,732,358$16,021,646
90$32,978,437$5,226,511$2,764,100$17,436,632
91$36,280,562$5,420,935$2,795,023$18,988,909
92$39,917,562$5,622,943$2,825,038$20,692,241
93$43,923,531$5,832,845$2,854,055$22,561,791
94$48,336,043$6,050,966$2,881,977$24,614,259
95$53,196,498$6,277,642$2,908,702$26,868,038
96$58,550,520$6,513,226$2,934,123$29,343,389
97$64,448,384$6,758,085$2,958,128$32,062,628
98$70,945,490$7,012,602$2,980,596$35,050,339
99$78,102,887$7,277,177$3,001,403$38,333,602
100$85,987,849$7,552,226$3,020,417$41,942,246