Can I retire at age 58 with 1,600,000?

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 $1,600,000?

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$132,127$130,950$129,801$128,681$127,586$126,464
2 years$65,409$64,191$63,010$61,866$60,755$59,625
3 years$43,173$41,950$40,772$39,638$38,546$37,442
4 years$32,057$30,837$29,671$28,557$27,491$26,422
5 years$25,389$24,177$23,026$21,934$20,898$19,867
6 years$20,945$19,742$18,609$17,541$16,536$15,544
7 years$17,773$16,579$15,464$14,422$13,448$12,496
8 years$15,394$14,212$13,115$12,098$11,157$10,244
9 years$13,545$12,374$11,296$10,305$9,396$8,523
10 years$12,067$10,907$9,848$8,883$8,005$7,172
11 years$10,858$9,710$8,670$7,731$6,885$6,090
12 years$9,851$8,715$7,694$6,781$5,966$5,209
13 years$9,000$7,876$6,874$5,986$5,203$4,482
14 years$8,271$7,159$6,177$5,314$4,561$3,875
15 years$7,640$6,540$5,577$4,739$4,016$3,365
16 years$7,089$6,000$5,056$4,243$3,549$2,932
17 years$6,602$5,526$4,601$3,813$3,147$2,563
18 years$6,171$5,106$4,200$3,436$2,798$2,246
19 years$5,785$4,732$3,845$3,105$2,494$1,972
20 years$5,438$4,398$3,529$2,812$2,228$1,735
21 years$5,124$4,096$3,246$2,552$1,993$1,529
22 years$4,840$3,824$2,991$2,320$1,787$1,349
23 years$4,581$3,576$2,762$2,113$1,604$1,192
24 years$4,343$3,351$2,554$1,927$1,442$1,055
25 years$4,125$3,144$2,366$1,760$1,297$934
26 years$3,924$2,955$2,194$1,609$1,169$828
27 years$3,738$2,781$2,038$1,473$1,054$734
28 years$3,566$2,621$1,894$1,350$951$651
29 years$3,406$2,472$1,763$1,238$858$579
30 years$3,257$2,335$1,642$1,136$776$514
31 years$3,118$2,207$1,531$1,043$701$457
32 years$2,987$2,088$1,428$959$634$406
33 years$2,865$1,978$1,333$882$574$361
34 years$2,751$1,875$1,246$811$520$322
35 years$2,643$1,778$1,165$747$471$286
36 years$2,541$1,688$1,090$688$427$255
37 years$2,445$1,603$1,020$634$387$227
38 years$2,355$1,523$955$584$350$202
39 years$2,269$1,448$895$539$318$180
40 years$2,187$1,378$839$497$288$160
41 years$2,110$1,312$786$458$262$143
42 years$2,037$1,249$738$423$237$127
43 years$1,967$1,190$692$390$215$113
44 years$1,901$1,135$650$361$195$101
45 years$1,838$1,082$610$333$177$90
46 years$1,778$1,032$573$308$161$80
47 years$1,720$985$538$284$146$72
48 years$1,665$940$506$263$133$64
49 years$1,612$898$476$243$121$57
50 years$1,562$858$447$224$110$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,600,000, adding $5,195 every year, while hoping to spend $28,291 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: 65/25/10 Blend
57$1,600,000$1,600,000$1,600,000$1,600,000
58$1,768,559$1,683,759$1,658,959$1,879,399
59$1,918,850$1,736,161$1,684,432$2,006,332
60$2,083,523$1,790,184$1,709,811$2,141,155
61$2,264,015$1,845,875$1,735,062$2,287,736
62$2,461,908$1,903,286$1,760,150$2,447,219
63$2,678,946$1,962,470$1,785,038$2,620,861
64$2,917,047$2,023,481$1,809,686$2,810,049
65$3,178,328$2,086,373$1,834,053$3,016,307
66$3,465,118$2,151,206$1,858,094$3,241,315
67$3,779,982$2,218,037$1,881,762$3,486,921
68$4,125,747$2,286,927$1,905,008$3,755,161
69$4,505,526$2,357,940$1,927,779$4,048,276
70$4,922,750$2,431,139$1,950,019$4,368,734
71$5,381,197$2,506,592$1,971,672$4,719,254
72$5,885,030$2,584,365$1,992,673$5,102,829
73$6,438,835$2,664,531$2,012,960$5,522,756
74$7,047,664$2,747,161$2,032,462$5,982,665
75$7,717,084$2,832,330$2,051,108$6,486,557
76$8,453,227$2,920,115$2,068,820$7,038,836
77$9,262,850$3,010,595$2,085,520$7,644,355
78$10,153,398$3,103,851$2,101,122$8,308,459
79$11,133,073$3,199,968$2,115,538$9,037,037
80$12,210,911$3,299,031$2,128,673$9,836,573
81$13,396,870$3,401,130$2,140,430$10,714,215
82$14,701,921$3,506,355$2,150,704$11,677,834
83$16,138,152$3,614,802$2,159,388$12,736,103
84$17,718,883$3,726,567$2,166,367$13,898,575
85$19,458,789$3,841,749$2,171,520$15,175,778
86$21,374,042$3,960,451$2,174,723$16,579,308
87$23,482,461$4,082,779$2,175,842$18,121,944
88$25,803,678$4,208,841$2,174,739$19,817,763
89$28,359,329$4,338,750$2,171,268$21,682,276
90$31,173,252$4,472,620$2,165,277$23,732,574
91$34,271,715$4,610,570$2,156,605$25,987,487
92$37,683,663$4,752,721$2,145,085$28,467,764
93$41,440,991$4,899,199$2,130,540$31,196,265
94$45,578,845$5,050,133$2,112,786$34,198,180
95$50,135,953$5,205,655$2,091,630$37,501,265
96$55,154,989$5,365,901$2,066,869$41,136,104
97$60,682,980$5,531,013$2,038,291$45,136,396
98$66,771,745$5,701,133$2,005,675$49,539,274
99$73,478,386$5,876,412$1,968,788$54,385,655
100$80,865,826$6,057,000$1,927,386$59,720,627