Can I retire at age 58 with 1,610,000?

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 $1,610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$132,952$131,768$130,613$129,485$128,384$125,843
2 years$65,818$64,592$63,404$62,252$61,135$58,586
3 years$43,443$42,212$41,027$39,886$38,787$36,309
4 years$32,257$31,030$29,857$28,735$27,663$25,275
5 years$25,548$24,328$23,170$22,072$21,029$18,739
6 years$21,076$19,866$18,725$17,651$16,639$14,449
7 years$17,884$16,683$15,561$14,512$13,532$11,442
8 years$15,490$14,300$13,197$12,173$11,226$9,235
9 years$13,630$12,451$11,366$10,369$9,454$7,561
10 years$12,142$10,975$9,909$8,938$8,055$6,259
11 years$10,926$9,770$8,724$7,779$6,928$5,226
12 years$9,913$8,769$7,742$6,823$6,004$4,393
13 years$9,056$7,925$6,917$6,024$5,235$3,714
14 years$8,323$7,204$6,215$5,347$4,589$3,154
15 years$7,688$6,581$5,611$4,769$4,041$2,689
16 years$7,133$6,038$5,088$4,270$3,571$2,299
17 years$6,644$5,560$4,630$3,837$3,166$1,971
18 years$6,209$5,138$4,226$3,458$2,815$1,694
19 years$5,821$4,762$3,869$3,124$2,509$1,459
20 years$5,472$4,425$3,551$2,830$2,242$1,258
21 years$5,157$4,122$3,266$2,568$2,006$1,086
22 years$4,870$3,847$3,010$2,335$1,798$939
23 years$4,609$3,598$2,779$2,126$1,614$813
24 years$4,370$3,372$2,570$1,939$1,451$704
25 years$4,151$3,164$2,381$1,771$1,305$610
26 years$3,949$2,974$2,208$1,619$1,176$529
27 years$3,762$2,799$2,050$1,482$1,060$459
28 years$3,588$2,637$1,906$1,358$957$399
29 years$3,427$2,488$1,774$1,245$864$347
30 years$3,277$2,349$1,652$1,143$780$301
31 years$3,137$2,221$1,540$1,050$706$262
32 years$3,006$2,102$1,437$965$638$228
33 years$2,883$1,990$1,342$887$578$198
34 years$2,768$1,886$1,254$816$523$172
35 years$2,659$1,789$1,172$751$474$150
36 years$2,557$1,698$1,096$692$429$130
37 years$2,461$1,613$1,026$638$389$113
38 years$2,369$1,533$961$588$353$99
39 years$2,283$1,457$900$542$320$86
40 years$2,201$1,387$844$500$290$75
41 years$2,123$1,320$791$461$263$65
42 years$2,050$1,257$742$426$239$57
43 years$1,980$1,198$697$393$217$49
44 years$1,913$1,142$654$363$197$43
45 years$1,849$1,089$614$335$179$37
46 years$1,789$1,039$577$309$162$33
47 years$1,731$991$542$286$147$28
48 years$1,675$946$509$264$134$25
49 years$1,623$904$479$244$121$22
50 years$1,572$863$450$226$110$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,610,000, adding $3,380 every year, while hoping to spend $51,527 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: 53/40/7 Blend
57$1,610,000$1,610,000$1,610,000$1,610,000
58$1,777,706$1,692,376$1,667,421$1,868,773
59$1,904,208$1,720,479$1,668,456$1,958,956
60$2,041,886$1,748,231$1,667,798$2,051,097
61$2,191,826$1,775,561$1,665,336$2,150,096
62$2,355,222$1,802,394$1,660,955$2,256,610
63$2,533,389$1,828,646$1,654,531$2,371,365
64$2,727,774$1,854,229$1,645,938$2,495,159
65$2,939,970$1,879,049$1,635,039$2,628,874
66$3,171,730$1,903,005$1,621,696$2,773,480
67$3,424,983$1,925,989$1,605,760$2,930,049
68$3,701,855$1,947,886$1,587,076$3,099,764
69$4,004,685$1,968,573$1,565,484$3,283,926
70$4,336,048$1,987,919$1,540,813$3,483,974
71$4,698,782$2,005,783$1,512,887$3,701,493
72$5,096,008$2,022,018$1,481,520$3,938,230
73$5,531,168$2,036,463$1,446,517$4,196,114
74$6,008,047$2,048,950$1,407,676$4,477,273
75$6,530,819$2,059,299$1,364,784$4,784,051
76$7,104,076$2,067,319$1,317,618$5,119,037
77$7,732,880$2,072,806$1,265,946$5,485,082
78$8,422,804$2,075,543$1,209,525$5,885,335
79$9,179,987$2,075,302$1,148,101$6,323,267
80$10,011,191$2,071,837$1,081,408$6,802,706
81$10,923,866$2,064,890$1,009,169$7,327,873
82$11,926,217$2,054,187$931,093$7,903,426
83$13,027,283$2,039,434$846,876$8,534,500
84$14,237,023$2,020,323$756,204$9,226,759
85$15,566,406$1,996,526$658,744$9,986,447
86$17,027,519$1,967,695$554,151$10,820,454
87$18,633,675$1,933,461$442,064$11,736,376
88$20,399,543$1,893,435$322,107$12,742,588
89$22,341,285$1,847,202$193,886$13,848,329
90$24,476,706$1,794,324$56,991$15,063,785
91$26,825,423$1,734,339$0$16,400,188
92$29,409,051$1,666,756$0$17,876,579
93$32,251,402$1,591,055$0$19,504,936
94$35,378,716$1,506,687$0$21,296,093
95$38,819,902$1,413,073$0$23,266,690
96$42,606,815$1,309,596$0$25,435,075
97$46,774,553$1,195,609$0$27,821,475
98$51,361,788$1,070,424$0$30,448,188
99$56,411,132$933,317$0$33,339,799
100$61,969,538$783,520$0$36,523,409