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%14.3%
1 years$133,778$132,586$131,424$130,289$129,181$126,884
2 years$66,227$64,993$63,798$62,639$61,515$59,209
3 years$43,713$42,474$41,282$40,133$39,028$36,784
4 years$32,458$31,223$30,042$28,914$27,835$25,671
5 years$25,707$24,479$23,314$22,209$21,160$19,082
6 years$21,207$19,989$18,841$17,760$16,743$14,753
7 years$17,995$16,787$15,657$14,602$13,616$11,716
8 years$15,586$14,389$13,279$12,249$11,296$9,484
9 years$13,714$12,528$11,437$10,434$9,513$7,788
10 years$12,217$11,043$9,971$8,994$8,106$6,466
11 years$10,994$9,831$8,778$7,827$6,971$5,416
12 years$9,974$8,824$7,790$6,866$6,041$4,568
13 years$9,113$7,974$6,960$6,061$5,268$3,874
14 years$8,375$7,248$6,254$5,381$4,618$3,301
15 years$7,736$6,622$5,646$4,798$4,066$2,824
16 years$7,177$6,075$5,119$4,297$3,593$2,424
17 years$6,685$5,595$4,658$3,860$3,186$2,085
18 years$6,248$5,170$4,252$3,479$2,833$1,799
19 years$5,857$4,791$3,893$3,144$2,525$1,554
20 years$5,506$4,452$3,573$2,847$2,255$1,346
21 years$5,189$4,147$3,286$2,584$2,018$1,166
22 years$4,900$3,871$3,029$2,349$1,809$1,012
23 years$4,638$3,621$2,797$2,140$1,624$880
24 years$4,397$3,392$2,586$1,951$1,460$765
25 years$4,177$3,184$2,395$1,782$1,314$666
26 years$3,973$2,992$2,222$1,630$1,183$580
27 years$3,785$2,816$2,063$1,492$1,067$505
28 years$3,611$2,653$1,918$1,367$963$440
29 years$3,449$2,503$1,785$1,253$869$384
30 years$3,298$2,364$1,662$1,150$785$335
31 years$3,157$2,235$1,550$1,056$710$293
32 years$3,025$2,115$1,446$971$642$255
33 years$2,901$2,003$1,350$893$581$223
34 years$2,785$1,898$1,261$821$526$195
35 years$2,676$1,800$1,179$756$477$170
36 years$2,573$1,709$1,103$696$432$149
37 years$2,476$1,623$1,033$642$391$130
38 years$2,384$1,542$967$591$355$114
39 years$2,297$1,467$906$545$322$99
40 years$2,215$1,395$849$503$292$87
41 years$2,137$1,328$796$464$265$76
42 years$2,062$1,265$747$428$240$66
43 years$1,992$1,205$701$395$218$58
44 years$1,925$1,149$658$365$198$51
45 years$1,861$1,095$618$337$180$44
46 years$1,800$1,045$580$311$163$39
47 years$1,742$997$545$288$148$34
48 years$1,686$952$512$266$135$30
49 years$1,633$909$481$246$122$26
50 years$1,582$868$453$227$111$23

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 $5,349 every year, while hoping to spend $46,459 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: 66/24/10 Blend
57$1,620,000$1,620,000$1,620,000$1,620,000
58$1,790,757$1,704,897$1,679,787$1,904,830
59$1,923,983$1,739,005$1,686,628$2,015,551
60$2,069,240$1,773,228$1,692,141$2,130,513
61$2,227,707$1,807,520$1,696,233$2,254,958
62$2,400,681$1,841,837$1,698,804$2,389,808
63$2,589,590$1,876,126$1,699,753$2,536,076
64$2,796,004$1,910,332$1,698,971$2,694,882
65$3,021,654$1,944,397$1,696,345$2,867,456
66$3,268,446$1,978,254$1,691,755$3,055,157
67$3,538,475$2,011,837$1,685,076$3,259,478
68$3,834,051$2,045,069$1,676,179$3,482,068
69$4,157,718$2,077,871$1,664,924$3,724,743
70$4,512,276$2,110,157$1,651,170$3,989,501
71$4,900,808$2,141,835$1,634,764$4,278,549
72$5,326,712$2,172,806$1,615,550$4,594,315
73$5,793,727$2,202,964$1,593,361$4,939,476
74$6,305,974$2,232,196$1,568,026$5,316,982
75$6,867,991$2,260,381$1,539,362$5,730,086
76$7,484,776$2,287,390$1,507,181$6,182,371
77$8,161,835$2,313,084$1,471,283$6,677,786
78$8,905,232$2,337,315$1,431,462$7,220,683
79$9,721,650$2,359,927$1,387,499$7,815,860
80$10,618,446$2,380,752$1,339,169$8,468,605
81$11,603,729$2,399,610$1,286,232$9,184,744
82$12,686,431$2,416,312$1,228,442$9,970,700
83$13,876,390$2,430,655$1,165,538$10,833,553
84$15,184,447$2,442,423$1,097,249$11,781,105
85$16,622,545$2,451,386$1,023,292$12,821,954
86$18,203,842$2,457,301$943,369$13,965,579
87$19,942,833$2,459,908$857,171$15,222,427
88$21,855,491$2,458,933$764,376$16,604,011
89$23,959,413$2,454,081$664,643$18,123,022
90$26,273,986$2,445,045$557,622$19,793,447
91$28,820,573$2,431,492$442,943$21,630,703
92$31,622,711$2,413,075$320,221$23,651,780
93$34,706,334$2,389,422$189,055$25,875,407
94$38,100,017$2,360,141$49,026$28,322,225
95$41,835,246$2,324,815$0$31,014,984
96$45,946,712$2,283,001$0$33,989,473
97$50,472,641$2,234,234$0$37,268,892
98$55,455,156$2,178,017$0$40,878,515
99$60,940,668$2,113,825$0$44,851,968
100$66,980,319$2,041,105$0$49,226,306