Can I retire at age 58 with 1,700,000?

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 $1,700,000?

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$140,384$139,134$137,914$136,723$135,560$132,176
2 years$69,497$68,203$66,949$65,732$64,553$61,164
3 years$45,871$44,571$43,320$42,115$40,955$37,669
4 years$34,061$32,765$31,526$30,342$29,209$26,050
5 years$26,976$25,688$24,465$23,305$22,204$19,182
6 years$22,255$20,976$19,772$18,637$17,570$14,686
7 years$18,883$17,616$16,430$15,323$14,289$11,545
8 years$16,356$15,100$13,934$12,854$11,854$9,248
9 years$14,392$13,147$12,002$10,949$9,983$7,513
10 years$12,821$11,589$10,463$9,438$8,506$6,169
11 years$11,537$10,317$9,212$8,214$7,315$5,108
12 years$10,467$9,260$8,175$7,205$6,339$4,258
13 years$9,563$8,368$7,304$6,361$5,528$3,569
14 years$8,788$7,606$6,563$5,646$4,846$3,004
15 years$8,118$6,949$5,925$5,035$4,267$2,538
16 years$7,532$6,375$5,372$4,509$3,771$2,150
17 years$7,015$5,871$4,888$4,051$3,343$1,826
18 years$6,556$5,425$4,462$3,651$2,973$1,555
19 years$6,146$5,028$4,085$3,299$2,650$1,326
20 years$5,778$4,672$3,749$2,988$2,367$1,132
21 years$5,445$4,352$3,448$2,712$2,118$968
22 years$5,142$4,063$3,178$2,465$1,899$828
23 years$4,867$3,800$2,935$2,245$1,704$710
24 years$4,615$3,560$2,714$2,048$1,532$608
25 years$4,383$3,341$2,514$1,870$1,378$522
26 years$4,169$3,140$2,331$1,710$1,242$448
27 years$3,972$2,955$2,165$1,565$1,119$385
28 years$3,789$2,784$2,013$1,434$1,010$331
29 years$3,619$2,627$1,873$1,315$912$284
30 years$3,460$2,481$1,744$1,207$824$244
31 years$3,313$2,345$1,626$1,108$745$210
32 years$3,174$2,219$1,517$1,019$674$181
33 years$3,044$2,101$1,417$937$610$155
34 years$2,923$1,992$1,324$862$552$134
35 years$2,808$1,889$1,238$793$500$115
36 years$2,700$1,793$1,158$731$453$99
37 years$2,598$1,703$1,084$673$411$85
38 years$2,502$1,618$1,015$621$372$73
39 years$2,411$1,539$951$572$338$63
40 years$2,324$1,464$891$528$306$54
41 years$2,242$1,394$836$487$278$47
42 years$2,164$1,327$784$449$252$40
43 years$2,090$1,265$736$415$229$35
44 years$2,020$1,206$690$383$208$30
45 years$1,953$1,150$648$354$189$26
46 years$1,889$1,097$609$327$171$22
47 years$1,828$1,047$572$302$155$19
48 years$1,769$999$538$279$141$16
49 years$1,713$954$505$258$128$14
50 years$1,660$911$475$238$116$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,700,000, adding $6,809 every year, while hoping to spend $30,829 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: 42/28/30 Blend
57$1,700,000$1,700,000$1,700,000$1,700,000
58$1,880,423$1,790,323$1,763,973$1,942,641
59$2,039,425$1,845,248$1,790,265$2,043,170
60$2,213,611$1,901,830$1,816,404$2,148,583
61$2,404,499$1,960,118$1,842,352$2,262,170
62$2,613,757$2,020,164$1,868,071$2,384,707
63$2,843,226$2,082,018$1,893,517$2,517,047
64$3,094,931$2,145,733$1,918,646$2,660,130
65$3,371,104$2,211,363$1,943,410$2,814,989
66$3,674,201$2,278,964$1,967,759$2,982,763
67$4,006,931$2,348,595$1,991,640$3,164,705
68$4,372,274$2,420,313$2,014,997$3,362,196
69$4,773,517$2,494,179$2,037,770$3,576,755
70$5,214,278$2,570,256$2,059,897$3,810,056
71$5,698,543$2,648,607$2,081,312$4,063,943
72$6,230,704$2,729,298$2,101,946$4,340,446
73$6,815,599$2,812,397$2,121,724$4,641,802
74$7,458,558$2,897,972$2,140,570$4,970,474
75$8,165,453$2,986,095$2,158,401$5,329,175
76$8,942,755$3,076,840$2,175,133$5,720,896
77$9,797,591$3,170,280$2,190,675$6,148,929
78$10,737,815$3,266,493$2,204,932$6,616,902
79$11,772,078$3,365,558$2,217,804$7,128,813
80$12,909,916$3,467,555$2,229,186$7,689,066
81$14,161,831$3,572,569$2,238,967$8,302,511
82$15,539,397$3,680,684$2,247,032$8,974,496
83$17,055,366$3,791,988$2,253,258$9,710,910
84$18,723,789$3,906,572$2,257,518$10,518,244
85$20,560,147$4,024,526$2,259,677$11,403,649
86$22,581,500$4,145,945$2,259,594$12,375,003
87$24,806,644$4,270,927$2,257,121$13,440,991
88$27,256,290$4,399,571$2,252,103$14,611,178
89$29,953,260$4,531,978$2,244,377$15,896,108
90$32,922,701$4,668,254$2,233,772$17,307,398
91$36,192,322$4,808,504$2,220,109$18,857,848
92$39,792,658$4,952,840$2,203,202$20,561,565
93$43,757,352$5,101,372$2,182,852$22,434,093
94$48,123,479$5,254,216$2,158,855$24,492,562
95$52,931,892$5,411,491$2,130,994$26,755,848
96$58,227,607$5,573,316$2,099,045$29,244,752
97$64,060,230$5,739,815$2,062,770$31,982,197
98$70,484,423$5,911,116$2,021,922$34,993,444
99$77,560,420$6,087,346$1,976,242$38,306,328
100$85,354,596$6,268,640$1,925,459$41,951,527