Can I retire at age 58 with 1,620,000?

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$133,778$132,586$131,424$130,289$129,181$127,408
2 years$66,227$64,993$63,798$62,639$61,515$59,732
3 years$43,713$42,474$41,282$40,133$39,028$37,290
4 years$32,458$31,223$30,042$28,914$27,835$26,156
5 years$25,707$24,479$23,314$22,209$21,160$19,544
6 years$21,207$19,989$18,841$17,760$16,743$15,193
7 years$17,995$16,787$15,657$14,602$13,616$12,133
8 years$15,586$14,389$13,279$12,249$11,296$9,878
9 years$13,714$12,528$11,437$10,434$9,513$8,160
10 years$12,217$11,043$9,971$8,994$8,106$6,817
11 years$10,994$9,831$8,778$7,827$6,971$5,745
12 years$9,974$8,824$7,790$6,866$6,041$4,877
13 years$9,113$7,974$6,960$6,061$5,268$4,164
14 years$8,375$7,248$6,254$5,381$4,618$3,572
15 years$7,736$6,622$5,646$4,798$4,066$3,076
16 years$7,177$6,075$5,119$4,297$3,593$2,659
17 years$6,685$5,595$4,658$3,860$3,186$2,304
18 years$6,248$5,170$4,252$3,479$2,833$2,002
19 years$5,857$4,791$3,893$3,144$2,525$1,743
20 years$5,506$4,452$3,573$2,847$2,255$1,520
21 years$5,189$4,147$3,286$2,584$2,018$1,327
22 years$4,900$3,871$3,029$2,349$1,809$1,161
23 years$4,638$3,621$2,797$2,140$1,624$1,016
24 years$4,397$3,392$2,586$1,951$1,460$891
25 years$4,177$3,184$2,395$1,782$1,314$781
26 years$3,973$2,992$2,222$1,630$1,183$686
27 years$3,785$2,816$2,063$1,492$1,067$603
28 years$3,611$2,653$1,918$1,367$963$530
29 years$3,449$2,503$1,785$1,253$869$466
30 years$3,298$2,364$1,662$1,150$785$410
31 years$3,157$2,235$1,550$1,056$710$361
32 years$3,025$2,115$1,446$971$642$318
33 years$2,901$2,003$1,350$893$581$280
34 years$2,785$1,898$1,261$821$526$246
35 years$2,676$1,800$1,179$756$477$217
36 years$2,573$1,709$1,103$696$432$191
37 years$2,476$1,623$1,033$642$391$169
38 years$2,384$1,542$967$591$355$149
39 years$2,297$1,467$906$545$322$131
40 years$2,215$1,395$849$503$292$116
41 years$2,137$1,328$796$464$265$102
42 years$2,062$1,265$747$428$240$90
43 years$1,992$1,205$701$395$218$79
44 years$1,925$1,149$658$365$198$70
45 years$1,861$1,095$618$337$180$62
46 years$1,800$1,045$580$311$163$54
47 years$1,742$997$545$288$148$48
48 years$1,686$952$512$266$135$42
49 years$1,633$909$481$246$122$37
50 years$1,582$868$453$227$111$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,620,000, adding $6,375 every year, while hoping to spend $53,784 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: 70/25/5 Blend
57$1,620,000$1,620,000$1,620,000$1,620,000
58$1,791,816$1,705,956$1,680,846$1,915,890
59$1,917,355$1,732,322$1,679,928$2,025,042
60$2,053,897$1,758,177$1,677,178$2,137,163
61$2,202,507$1,783,440$1,672,475$2,258,341
62$2,364,357$1,808,023$1,665,697$2,389,453
63$2,540,737$1,831,832$1,656,714$2,531,461
64$2,733,068$1,854,767$1,645,389$2,685,428
65$2,942,911$1,876,721$1,631,580$2,852,525
66$3,171,986$1,897,579$1,615,137$3,034,039
67$3,422,188$1,917,220$1,595,903$3,231,393
68$3,695,600$1,935,512$1,573,715$3,446,151
69$3,994,518$1,952,319$1,548,401$3,680,038
70$4,321,466$1,967,490$1,519,780$3,934,956
71$4,679,228$1,980,870$1,487,665$4,212,999
72$5,070,867$1,992,289$1,451,859$4,516,477
73$5,499,755$2,001,571$1,412,155$4,847,933
74$5,969,606$2,008,524$1,368,339$5,210,174
75$6,484,512$2,012,948$1,320,185$5,606,289
76$7,048,978$2,014,628$1,267,456$6,039,686
77$7,667,965$2,013,336$1,209,907$6,514,121
78$8,346,938$2,008,830$1,147,280$7,033,732
79$9,091,917$2,000,855$1,079,306$7,603,082
80$9,909,533$1,989,136$1,005,702$8,227,199
81$10,807,087$1,973,386$926,175$8,911,628
82$11,792,626$1,953,298$840,418$9,662,477
83$12,875,011$1,928,547$748,109$10,486,482
84$14,064,005$1,898,788$648,913$11,391,065
85$15,370,361$1,863,657$542,480$12,384,410
86$16,805,929$1,822,767$428,445$13,475,535
87$18,383,761$1,775,709$306,424$14,674,383
88$20,118,235$1,722,050$176,020$15,991,912
89$22,025,195$1,661,330$36,816$17,440,202
90$24,122,093$1,593,064$0$19,032,567
91$26,428,161$1,516,739$0$20,789,643
92$28,964,585$1,431,810$0$22,724,132
93$31,754,707$1,337,703$0$24,851,922
94$34,824,248$1,233,811$0$27,192,694
95$38,201,544$1,119,491$0$29,768,139
96$41,917,820$994,064$0$32,602,166
97$46,007,476$856,812$0$35,721,124
98$50,508,420$706,977$0$39,154,054
99$55,462,417$543,757$0$42,932,967
100$60,915,490$366,307$0$47,093,141