Can I retire at age 58 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$135,430$134,223$133,046$131,898$130,776$126,387
2 years$67,044$65,796$64,586$63,412$62,274$57,896
3 years$44,252$42,998$41,791$40,629$39,509$35,279
4 years$32,858$31,608$30,413$29,271$28,178$24,129
5 years$26,024$24,781$23,602$22,483$21,421$17,562
6 years$21,469$20,236$19,074$17,980$16,950$13,285
7 years$18,217$16,994$15,850$14,782$13,784$10,313
8 years$15,779$14,567$13,442$12,400$11,436$8,155
9 years$13,884$12,683$11,578$10,562$9,630$6,537
10 years$12,368$11,180$10,094$9,105$8,206$5,295
11 years$11,129$9,953$8,887$7,924$7,057$4,322
12 years$10,098$8,933$7,887$6,950$6,116$3,551
13 years$9,225$8,073$7,046$6,136$5,333$2,932
14 years$8,478$7,338$6,331$5,447$4,675$2,431
15 years$7,831$6,703$5,716$4,858$4,116$2,022
16 years$7,266$6,150$5,182$4,350$3,638$1,686
17 years$6,767$5,664$4,716$3,908$3,225$1,410
18 years$6,325$5,234$4,305$3,522$2,868$1,180
19 years$5,929$4,851$3,941$3,182$2,556$990
20 years$5,574$4,507$3,617$2,882$2,283$831
21 years$5,253$4,199$3,327$2,616$2,043$699
22 years$4,961$3,919$3,066$2,378$1,832$588
23 years$4,695$3,666$2,831$2,166$1,644$495
24 years$4,452$3,434$2,618$1,976$1,478$417
25 years$4,228$3,223$2,425$1,804$1,330$352
26 years$4,022$3,029$2,249$1,650$1,198$297
27 years$3,832$2,851$2,088$1,510$1,080$250
28 years$3,655$2,686$1,941$1,383$974$211
29 years$3,491$2,534$1,807$1,269$880$178
30 years$3,338$2,393$1,683$1,164$795$150
31 years$3,196$2,262$1,569$1,069$719$127
32 years$3,062$2,141$1,464$983$650$107
33 years$2,937$2,027$1,367$904$588$91
34 years$2,819$1,921$1,277$831$533$77
35 years$2,709$1,822$1,194$765$483$65
36 years$2,605$1,730$1,117$705$437$55
37 years$2,506$1,643$1,045$650$396$46
38 years$2,413$1,561$979$599$359$39
39 years$2,325$1,485$917$552$326$33
40 years$2,242$1,412$860$509$295$28
41 years$2,163$1,345$806$470$268$24
42 years$2,088$1,281$756$434$243$20
43 years$2,017$1,220$710$400$221$17
44 years$1,949$1,163$666$370$200$14
45 years$1,884$1,109$625$341$182$12
46 years$1,822$1,058$587$315$165$10
47 years$1,763$1,010$552$291$150$9
48 years$1,707$964$519$269$136$7
49 years$1,653$920$487$249$124$6
50 years$1,601$879$458$230$112$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,640,000, adding $6,429 every year, while hoping to spend $50,000 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: 47/32/21 Blend
57$1,640,000$1,640,000$1,640,000$1,640,000
58$1,813,912$1,726,992$1,701,572$1,888,046
59$1,945,731$1,758,414$1,705,375$1,971,921
60$2,089,320$1,789,701$1,707,629$2,057,402
61$2,245,827$1,820,793$1,708,231$2,149,152
62$2,416,514$1,851,625$1,707,070$2,247,782
63$2,602,772$1,882,128$1,704,030$2,353,962
64$2,806,132$1,912,229$1,698,992$2,468,435
65$3,028,277$1,941,848$1,691,828$2,592,019
66$3,271,062$1,970,900$1,682,405$2,725,617
67$3,536,530$1,999,293$1,670,585$2,870,226
68$3,826,928$2,026,930$1,656,221$3,026,946
69$4,144,730$2,053,706$1,639,161$3,196,990
70$4,492,664$2,079,508$1,619,244$3,381,699
71$4,873,729$2,104,218$1,596,302$3,582,550
72$5,291,232$2,127,707$1,570,161$3,801,175
73$5,748,812$2,149,839$1,540,636$4,039,372
74$6,250,479$2,170,469$1,507,535$4,299,129
75$6,800,647$2,189,441$1,470,656$4,582,636
76$7,404,180$2,206,591$1,429,790$4,892,312
77$8,066,433$2,221,741$1,384,715$5,230,823
78$8,793,308$2,234,705$1,335,202$5,601,113
79$9,591,304$2,245,284$1,281,009$6,006,430
80$10,467,579$2,253,264$1,221,885$6,450,355
81$11,430,019$2,258,422$1,157,566$6,936,840
82$12,487,314$2,260,517$1,087,777$7,470,246
83$13,649,032$2,259,295$1,012,229$8,055,381
84$14,925,718$2,254,485$930,624$8,697,552
85$16,328,987$2,245,801$842,646$9,402,609
86$17,871,637$2,232,938$747,967$10,177,007
87$19,567,765$2,215,573$646,245$11,027,867
88$21,432,904$2,193,363$537,122$11,963,041
89$23,484,169$2,165,946$420,224$12,991,189
90$25,740,413$2,132,937$295,160$14,121,865
91$28,222,411$2,093,927$161,524$15,365,602
92$30,953,053$2,048,485$18,891$16,734,019
93$33,957,556$1,996,152$0$18,239,929
94$37,263,708$1,936,445$0$19,927,333
95$40,902,126$1,868,850$0$21,788,399
96$44,906,544$1,792,826$0$23,836,178
97$49,314,134$1,707,796$0$26,089,730
98$54,165,852$1,613,155$0$28,570,062
99$59,506,828$1,508,259$0$31,300,334
100$65,386,790$1,392,429$0$34,306,071