Can I retire at age 58 with 1,670,000?

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 $1,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$137,907$136,679$135,480$134,310$133,168$129,843
2 years$68,271$66,999$65,767$64,572$63,413$60,085
3 years$45,062$43,785$42,556$41,372$40,232$37,004
4 years$33,460$32,186$30,970$29,806$28,694$25,591
5 years$26,500$25,235$24,034$22,894$21,813$18,843
6 years$21,862$20,606$19,423$18,309$17,260$14,427
7 years$18,550$17,305$16,140$15,052$14,037$11,341
8 years$16,068$14,833$13,688$12,627$11,645$9,085
9 years$14,138$12,915$11,790$10,756$9,807$7,380
10 years$12,595$11,384$10,279$9,271$8,356$6,060
11 years$11,333$10,135$9,049$8,069$7,186$5,018
12 years$10,282$9,096$8,031$7,077$6,227$4,183
13 years$9,394$8,220$7,175$6,248$5,430$3,506
14 years$8,633$7,472$6,447$5,547$4,760$2,951
15 years$7,975$6,826$5,821$4,947$4,191$2,493
16 years$7,399$6,263$5,277$4,429$3,704$2,112
17 years$6,891$5,768$4,802$3,980$3,284$1,794
18 years$6,441$5,330$4,384$3,586$2,920$1,527
19 years$6,038$4,939$4,013$3,241$2,603$1,302
20 years$5,676$4,590$3,683$2,935$2,325$1,112
21 years$5,349$4,275$3,388$2,664$2,081$951
22 years$5,052$3,991$3,122$2,422$1,865$814
23 years$4,781$3,733$2,883$2,206$1,674$697
24 years$4,533$3,497$2,666$2,012$1,505$598
25 years$4,306$3,282$2,469$1,837$1,354$513
26 years$4,096$3,084$2,290$1,680$1,220$440
27 years$3,902$2,903$2,127$1,538$1,100$378
28 years$3,722$2,735$1,977$1,409$992$325
29 years$3,555$2,580$1,840$1,292$896$279
30 years$3,399$2,437$1,714$1,186$810$240
31 years$3,254$2,304$1,598$1,089$732$206
32 years$3,118$2,180$1,491$1,001$662$178
33 years$2,991$2,064$1,392$920$599$153
34 years$2,871$1,957$1,300$847$542$131
35 years$2,758$1,856$1,216$779$491$113
36 years$2,652$1,761$1,137$718$445$97
37 years$2,552$1,673$1,065$661$403$84
38 years$2,458$1,590$997$610$366$72
39 years$2,368$1,512$934$562$332$62
40 years$2,283$1,438$875$518$301$53
41 years$2,203$1,369$821$478$273$46
42 years$2,126$1,304$770$441$248$40
43 years$2,053$1,242$723$408$225$34
44 years$1,984$1,184$678$376$204$29
45 years$1,918$1,129$637$347$185$25
46 years$1,855$1,077$598$321$168$22
47 years$1,795$1,028$562$297$153$19
48 years$1,738$981$528$274$139$16
49 years$1,683$937$496$253$126$14
50 years$1,631$895$467$234$114$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,670,000, adding $3,030 every year, while hoping to spend $36,595 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: 88/7/5 Blend
57$1,670,000$1,670,000$1,670,000$1,670,000
58$1,843,465$1,754,955$1,729,070$2,005,639
59$1,992,562$1,802,011$1,748,058$2,158,653
60$2,155,640$1,850,147$1,766,454$2,321,401
61$2,334,087$1,899,375$1,784,202$2,499,104
62$2,529,430$1,949,711$1,801,239$2,693,241
63$2,743,353$2,001,168$1,817,501$2,905,441
64$2,977,707$2,053,757$1,832,919$3,137,498
65$3,234,532$2,107,491$1,847,422$3,391,388
66$3,516,077$2,162,380$1,860,933$3,669,288
67$3,824,815$2,218,435$1,873,373$3,973,593
68$4,163,473$2,275,665$1,884,657$4,306,945
69$4,535,053$2,334,078$1,894,698$4,672,249
70$4,942,861$2,393,680$1,903,403$5,072,710
71$5,390,540$2,454,478$1,910,675$5,511,856
72$5,882,103$2,516,475$1,916,410$5,993,571
73$6,421,970$2,579,675$1,920,502$6,522,139
74$7,015,010$2,644,078$1,922,838$7,102,275
75$7,666,587$2,709,684$1,923,299$7,739,175
76$8,382,610$2,776,490$1,921,761$8,438,563
77$9,169,589$2,844,491$1,918,094$9,206,745
78$10,034,698$2,913,681$1,912,160$10,050,669
79$10,985,836$2,984,051$1,903,816$10,977,991
80$12,031,709$3,055,587$1,892,912$11,997,143
81$13,181,909$3,128,277$1,879,291$13,117,418
82$14,447,003$3,202,102$1,862,786$14,349,054
83$15,838,634$3,277,041$1,843,226$15,703,331
84$17,369,629$3,353,070$1,820,428$17,192,679
85$19,054,122$3,430,162$1,794,204$18,830,791
86$20,907,687$3,508,284$1,764,354$20,632,759
87$22,947,482$3,587,401$1,730,670$22,615,208
88$25,192,413$3,667,471$1,692,935$24,796,459
89$27,663,311$3,748,450$1,650,921$27,196,699
90$30,383,132$3,830,287$1,604,390$29,838,172
91$33,377,166$3,912,926$1,553,092$32,745,388
92$36,673,283$3,996,305$1,496,767$35,945,356
93$40,302,191$4,080,357$1,435,141$39,467,837
94$44,297,727$4,165,006$1,367,930$43,345,624
95$48,697,175$4,250,172$1,294,837$47,614,855
96$53,541,622$4,335,766$1,215,548$52,315,349
97$58,876,338$4,421,689$1,129,740$57,490,985
98$64,751,210$4,507,837$1,037,071$63,190,116
99$71,221,207$4,594,094$937,187$69,466,022
100$78,346,903$4,680,338$829,716$76,377,419