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%15.4%
1 years$132,952$131,768$130,613$129,485$128,384$125,535
2 years$65,818$64,592$63,404$62,252$61,135$58,280
3 years$43,443$42,212$41,027$39,886$38,787$36,014
4 years$32,257$31,030$29,857$28,735$27,663$24,994
5 years$25,548$24,328$23,170$22,072$21,029$18,472
6 years$21,076$19,866$18,725$17,651$16,639$14,197
7 years$17,884$16,683$15,561$14,512$13,532$11,204
8 years$15,490$14,300$13,197$12,173$11,226$9,012
9 years$13,630$12,451$11,366$10,369$9,454$7,352
10 years$12,142$10,975$9,909$8,938$8,055$6,063
11 years$10,926$9,770$8,724$7,779$6,928$5,043
12 years$9,913$8,769$7,742$6,823$6,004$4,223
13 years$9,056$7,925$6,917$6,024$5,235$3,556
14 years$8,323$7,204$6,215$5,347$4,589$3,007
15 years$7,688$6,581$5,611$4,769$4,041$2,553
16 years$7,133$6,038$5,088$4,270$3,571$2,174
17 years$6,644$5,560$4,630$3,837$3,166$1,856
18 years$6,209$5,138$4,226$3,458$2,815$1,588
19 years$5,821$4,762$3,869$3,124$2,509$1,361
20 years$5,472$4,425$3,551$2,830$2,242$1,169
21 years$5,157$4,122$3,266$2,568$2,006$1,005
22 years$4,870$3,847$3,010$2,335$1,798$864
23 years$4,609$3,598$2,779$2,126$1,614$745
24 years$4,370$3,372$2,570$1,939$1,451$642
25 years$4,151$3,164$2,381$1,771$1,305$554
26 years$3,949$2,974$2,208$1,619$1,176$478
27 years$3,762$2,799$2,050$1,482$1,060$413
28 years$3,588$2,637$1,906$1,358$957$357
29 years$3,427$2,488$1,774$1,245$864$308
30 years$3,277$2,349$1,652$1,143$780$267
31 years$3,137$2,221$1,540$1,050$706$231
32 years$3,006$2,102$1,437$965$638$200
33 years$2,883$1,990$1,342$887$578$173
34 years$2,768$1,886$1,254$816$523$149
35 years$2,659$1,789$1,172$751$474$129
36 years$2,557$1,698$1,096$692$429$112
37 years$2,461$1,613$1,026$638$389$97
38 years$2,369$1,533$961$588$353$84
39 years$2,283$1,457$900$542$320$73
40 years$2,201$1,387$844$500$290$63
41 years$2,123$1,320$791$461$263$55
42 years$2,050$1,257$742$426$239$47
43 years$1,980$1,198$697$393$217$41
44 years$1,913$1,142$654$363$197$35
45 years$1,849$1,089$614$335$179$31
46 years$1,789$1,039$577$309$162$27
47 years$1,731$991$542$286$147$23
48 years$1,675$946$509$264$134$20
49 years$1,623$904$479$244$121$17
50 years$1,572$863$450$226$110$15

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 $6,918 every year, while hoping to spend $24,791 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: 37/46/17 Blend
57$1,610,000$1,610,000$1,610,000$1,610,000
58$1,781,356$1,696,026$1,671,071$1,837,858
59$1,936,677$1,752,754$1,700,674$1,935,975
60$2,107,010$1,811,430$1,730,439$2,039,024
61$2,293,859$1,872,125$1,760,343$2,149,808
62$2,498,883$1,934,910$1,790,365$2,269,034
63$2,723,908$1,999,859$1,820,481$2,397,478
64$2,970,945$2,067,050$1,850,665$2,535,992
65$3,242,209$2,136,563$1,880,890$2,685,515
66$3,540,141$2,208,482$1,911,127$2,847,076
67$3,867,430$2,282,892$1,941,344$3,021,807
68$4,227,037$2,359,883$1,971,509$3,210,955
69$4,622,227$2,439,549$2,001,586$3,415,888
70$5,056,592$2,521,985$2,031,537$3,638,112
71$5,534,094$2,607,292$2,061,323$3,879,283
72$6,059,096$2,695,573$2,090,902$4,141,223
73$6,636,404$2,786,937$2,120,227$4,425,936
74$7,271,315$2,881,495$2,149,253$4,735,627
75$7,969,664$2,979,363$2,177,928$5,072,722
76$8,737,880$3,080,662$2,206,198$5,439,892
77$9,583,046$3,185,517$2,234,008$5,840,076
78$10,512,967$3,294,057$2,261,298$6,276,507
79$11,536,242$3,406,419$2,288,004$6,752,747
80$12,662,346$3,522,740$2,314,059$7,272,715
81$13,901,719$3,643,169$2,339,394$7,840,724
82$15,265,865$3,767,854$2,363,934$8,461,527
83$16,767,457$3,896,953$2,387,600$9,140,351
84$18,420,463$4,030,629$2,410,310$9,882,957
85$20,240,271$4,169,051$2,431,976$10,695,686
86$22,243,839$4,312,394$2,452,507$11,585,519
87$24,449,851$4,460,842$2,471,807$12,560,148
88$26,878,896$4,614,584$2,489,773$13,628,041
89$29,553,662$4,773,816$2,506,298$14,798,524
90$32,499,146$4,938,745$2,521,270$16,081,870
91$35,742,897$5,109,581$2,534,571$17,489,392
92$39,315,269$5,286,547$2,546,076$19,033,554
93$43,249,711$5,469,872$2,555,653$20,728,080
94$47,583,080$5,659,795$2,563,167$22,588,091
95$52,355,994$5,856,564$2,568,472$24,630,242
96$57,613,206$6,060,437$2,571,417$26,872,879
97$63,404,037$6,271,682$2,571,843$29,336,215
98$69,782,832$6,490,578$2,569,584$32,042,512
99$76,809,480$6,717,415$2,564,463$35,016,299
100$84,549,973$6,952,494$2,556,298$38,284,598