Can I retire at age 58 with 1,630,000?

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 $1,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$134,604$133,405$132,235$131,093$129,978$128,142
2 years$66,636$65,395$64,192$63,026$61,895$60,048
3 years$43,982$42,736$41,536$40,381$39,268$37,469
4 years$32,658$31,416$30,228$29,092$28,007$26,268
5 years$25,865$24,630$23,458$22,346$21,290$19,618
6 years$21,338$20,112$18,958$17,870$16,846$15,242
7 years$18,106$16,890$15,754$14,692$13,700$12,165
8 years$15,683$14,478$13,361$12,325$11,366$9,899
9 years$13,799$12,606$11,507$10,498$9,572$8,172
10 years$12,293$11,111$10,032$9,049$8,156$6,823
11 years$11,061$9,892$8,832$7,876$7,014$5,747
12 years$10,036$8,878$7,839$6,908$6,078$4,875
13 years$9,169$8,023$7,003$6,099$5,300$4,159
14 years$8,426$7,293$6,292$5,414$4,646$3,566
15 years$7,784$6,662$5,681$4,828$4,091$3,069
16 years$7,222$6,113$5,151$4,323$3,616$2,651
17 years$6,726$5,629$4,687$3,884$3,206$2,295
18 years$6,286$5,202$4,279$3,500$2,850$1,993
19 years$5,893$4,821$3,917$3,163$2,541$1,733
20 years$5,540$4,480$3,595$2,865$2,269$1,511
21 years$5,221$4,173$3,306$2,600$2,031$1,318
22 years$4,931$3,895$3,047$2,364$1,820$1,152
23 years$4,666$3,643$2,814$2,153$1,634$1,008
24 years$4,425$3,413$2,602$1,964$1,469$883
25 years$4,202$3,203$2,410$1,793$1,322$774
26 years$3,998$3,011$2,235$1,640$1,190$679
27 years$3,808$2,833$2,076$1,501$1,073$596
28 years$3,633$2,670$1,930$1,375$968$523
29 years$3,470$2,519$1,796$1,261$875$460
30 years$3,318$2,379$1,673$1,157$790$404
31 years$3,176$2,249$1,559$1,063$714$355
32 years$3,043$2,128$1,455$977$646$313
33 years$2,919$2,015$1,358$898$585$275
34 years$2,802$1,910$1,269$826$529$242
35 years$2,692$1,811$1,187$761$480$213
36 years$2,589$1,719$1,110$701$435$188
37 years$2,491$1,633$1,039$646$394$165
38 years$2,399$1,552$973$595$357$146
39 years$2,311$1,476$912$549$324$128
40 years$2,228$1,404$854$506$294$113
41 years$2,150$1,336$801$467$266$100
42 years$2,075$1,273$752$431$242$88
43 years$2,004$1,213$705$398$219$77
44 years$1,937$1,156$662$367$199$68
45 years$1,872$1,102$622$339$181$60
46 years$1,811$1,052$584$313$164$53
47 years$1,752$1,003$548$289$149$47
48 years$1,696$958$515$267$135$41
49 years$1,643$915$484$247$123$36
50 years$1,591$874$455$228$112$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,630,000, adding $4,102 every year, while hoping to spend $59,689 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: 67/5/28 Blend
57$1,630,000$1,630,000$1,630,000$1,630,000
58$1,800,491$1,714,101$1,688,836$1,907,655
59$1,920,633$1,734,584$1,681,904$2,000,860
60$2,051,028$1,754,069$1,672,738$2,095,666
61$2,192,660$1,772,446$1,661,202$2,198,030
62$2,346,610$1,789,594$1,647,151$2,308,701
63$2,514,068$1,805,388$1,630,434$2,428,508
64$2,696,341$1,819,690$1,610,892$2,558,365
65$2,894,870$1,832,357$1,588,359$2,699,278
66$3,111,240$1,843,235$1,562,662$2,852,359
67$3,347,193$1,852,161$1,533,618$3,018,836
68$3,604,650$1,858,960$1,501,038$3,200,061
69$3,885,723$1,863,448$1,464,721$3,397,526
70$4,192,737$1,865,427$1,424,460$3,612,879
71$4,528,253$1,864,690$1,380,036$3,847,935
72$4,895,089$1,861,014$1,331,221$4,104,699
73$5,296,349$1,854,164$1,277,777$4,385,380
74$5,735,448$1,843,890$1,219,455$4,692,416
75$6,216,151$1,829,927$1,155,993$5,028,496
76$6,742,599$1,811,994$1,087,120$5,396,586
77$7,319,355$1,789,793$1,012,549$5,799,957
78$7,951,444$1,763,008$931,985$6,242,215
79$8,644,400$1,731,304$845,115$6,727,340
80$9,404,318$1,694,327$751,616$7,259,720
81$10,237,911$1,651,701$651,147$7,844,193
82$11,152,571$1,603,028$543,354$8,486,095
83$12,156,445$1,547,888$427,868$9,191,311
84$13,258,503$1,485,835$304,302$9,966,329
85$14,468,626$1,416,397$172,252$10,818,306
86$15,797,702$1,339,076$31,298$11,755,130
87$17,257,722$1,253,345$0$12,785,501
88$18,861,896$1,158,645$0$13,954,602
89$20,624,778$1,054,388$0$15,249,712
90$22,562,402$939,949$0$16,673,273
91$24,692,431$814,671$0$18,238,294
92$27,034,326$677,857$0$19,959,103
93$29,609,527$528,772$0$21,851,493
94$32,441,656$366,639$0$23,932,862
95$35,556,739$190,639$0$26,222,382
96$38,983,451$0$0$28,741,179
97$42,753,385$0$0$31,512,533
98$46,901,351$0$0$34,573,442
99$51,465,705$0$0$37,941,732
100$56,488,705$0$0$41,648,604