Can I retire at age 58 with 1,650,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$136,255$135,042$133,858$132,702$131,573$126,403
2 years$67,453$66,197$64,979$63,799$62,654$57,508
3 years$44,522$43,260$42,046$40,877$39,750$34,791
4 years$33,059$31,801$30,599$29,449$28,350$23,615
5 years$26,183$24,932$23,746$22,620$21,551$17,053
6 years$21,600$20,359$19,190$18,089$17,053$12,794
7 years$18,328$17,098$15,947$14,872$13,869$9,847
8 years$15,875$14,656$13,524$12,476$11,505$7,718
9 years$13,968$12,761$11,649$10,627$9,689$6,130
10 years$12,444$11,248$10,156$9,160$8,256$4,918
11 years$11,197$10,013$8,941$7,972$7,100$3,976
12 years$10,159$8,987$7,935$6,993$6,153$3,234
13 years$9,281$8,122$7,089$6,174$5,365$2,643
14 years$8,530$7,383$6,370$5,480$4,703$2,168
15 years$7,879$6,744$5,751$4,887$4,141$1,784
16 years$7,310$6,188$5,214$4,376$3,660$1,472
17 years$6,809$5,699$4,745$3,932$3,245$1,217
18 years$6,363$5,266$4,331$3,543$2,885$1,008
19 years$5,966$4,880$3,965$3,202$2,572$836
20 years$5,608$4,535$3,639$2,900$2,297$694
21 years$5,285$4,224$3,347$2,632$2,056$576
22 years$4,991$3,943$3,085$2,393$1,843$479
23 years$4,724$3,688$2,848$2,179$1,654$399
24 years$4,479$3,455$2,634$1,988$1,487$332
25 years$4,254$3,243$2,440$1,815$1,338$277
26 years$4,047$3,048$2,263$1,660$1,205$230
27 years$3,855$2,868$2,101$1,519$1,086$192
28 years$3,677$2,703$1,953$1,392$980$160
29 years$3,512$2,550$1,818$1,276$885$134
30 years$3,359$2,408$1,693$1,171$800$111
31 years$3,215$2,276$1,578$1,076$723$93
32 years$3,081$2,154$1,473$989$654$77
33 years$2,955$2,040$1,375$909$592$65
34 years$2,837$1,933$1,285$837$536$54
35 years$2,725$1,834$1,201$770$485$45
36 years$2,621$1,740$1,124$709$440$38
37 years$2,522$1,653$1,052$653$399$31
38 years$2,428$1,571$985$602$361$26
39 years$2,340$1,494$923$555$328$22
40 years$2,256$1,421$865$512$297$18
41 years$2,176$1,353$811$473$270$15
42 years$2,101$1,288$761$436$245$13
43 years$2,029$1,228$714$403$222$11
44 years$1,960$1,170$670$372$202$9
45 years$1,895$1,116$629$343$183$7
46 years$1,833$1,064$591$317$166$6
47 years$1,774$1,016$555$293$151$5
48 years$1,717$970$522$271$137$4
49 years$1,663$926$490$250$124$4
50 years$1,611$885$461$231$113$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,650,000, adding $3,095 every year, while hoping to spend $27,908 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: 68/10/22 Blend
57$1,650,000$1,650,000$1,650,000$1,650,000
58$1,821,492$1,734,042$1,708,467$1,935,048
59$1,977,591$1,789,317$1,736,007$2,066,767
60$2,148,676$1,846,364$1,763,534$2,207,290
61$2,336,247$1,905,242$1,791,019$2,360,353
62$2,541,955$1,966,009$1,818,428$2,527,190
63$2,767,618$2,028,728$1,845,730$2,709,164
64$3,015,240$2,093,461$1,872,887$2,907,773
65$3,287,028$2,160,273$1,899,862$3,124,671
66$3,585,411$2,229,233$1,926,614$3,361,676
67$3,913,067$2,300,410$1,953,099$3,620,792
68$4,272,945$2,373,875$1,979,274$3,904,226
69$4,668,295$2,449,704$2,005,088$4,214,410
70$5,102,694$2,527,973$2,030,492$4,554,022
71$5,580,087$2,608,761$2,055,431$4,926,013
72$6,104,817$2,692,151$2,079,849$5,333,635
73$6,681,669$2,778,228$2,103,685$5,780,468
74$7,315,916$2,867,078$2,126,875$6,270,458
75$8,013,367$2,958,792$2,149,353$6,807,953
76$8,780,421$3,053,464$2,171,047$7,397,743
77$9,624,131$3,151,190$2,191,884$8,045,103
78$10,552,264$3,252,070$2,211,784$8,755,849
79$11,573,380$3,356,207$2,230,664$9,536,388
80$12,696,912$3,463,708$2,248,438$10,393,777
81$13,933,249$3,574,682$2,265,013$11,335,795
82$15,293,842$3,689,243$2,280,293$12,371,012
83$16,791,307$3,807,509$2,294,176$13,508,871
84$18,439,545$3,929,601$2,306,554$14,759,777
85$20,253,871$4,055,645$2,317,317$16,135,195
86$22,251,164$4,185,769$2,326,345$17,647,761
87$24,450,020$4,320,109$2,333,515$19,311,394
88$26,870,930$4,458,803$2,338,696$21,141,436
89$29,536,474$4,601,993$2,341,751$23,154,791
90$32,471,531$4,749,828$2,342,537$25,370,086
91$35,703,518$4,902,460$2,340,902$27,807,847
92$39,262,644$5,060,048$2,336,690$30,490,692
93$43,182,198$5,222,754$2,329,733$33,443,548
94$47,498,862$5,390,749$2,319,859$36,693,880
95$52,253,056$5,564,206$2,306,884$40,271,954
96$57,489,321$5,743,305$2,290,618$44,211,124
97$63,256,738$5,928,233$2,270,860$48,548,143
98$69,609,392$6,119,184$2,247,401$53,323,513
99$76,606,882$6,316,355$2,220,021$58,581,866
100$84,314,881$6,519,954$2,188,489$64,372,384