Can I retire at age 58 with 1,710,000?

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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$141,210$139,952$138,725$137,527$136,358$131,520
2 years$69,906$68,604$67,342$66,119$64,932$60,110
3 years$46,141$44,834$43,575$42,363$41,196$36,540
4 years$34,261$32,957$31,711$30,520$29,381$24,928
5 years$27,135$25,839$24,609$23,442$22,335$18,096
6 years$22,385$21,099$19,888$18,747$17,673$13,651
7 years$18,994$17,719$16,527$15,413$14,373$10,568
8 years$16,452$15,189$14,016$12,930$11,924$8,332
9 years$14,476$13,225$12,072$11,013$10,041$6,658
10 years$12,896$11,657$10,525$9,493$8,556$5,376
11 years$11,604$10,377$9,266$8,262$7,358$4,374
12 years$10,529$9,314$8,223$7,247$6,377$3,582
13 years$9,619$8,417$7,347$6,398$5,560$2,947
14 years$8,840$7,651$6,601$5,679$4,874$2,435
15 years$8,166$6,989$5,960$5,065$4,292$2,018
16 years$7,576$6,413$5,404$4,535$3,793$1,677
17 years$7,056$5,906$4,917$4,075$3,363$1,397
18 years$6,595$5,457$4,489$3,672$2,990$1,165
19 years$6,182$5,058$4,109$3,318$2,665$974
20 years$5,812$4,700$3,771$3,005$2,381$815
21 years$5,477$4,378$3,469$2,727$2,131$682
22 years$5,173$4,086$3,197$2,480$1,910$572
23 years$4,895$3,822$2,952$2,258$1,714$479
24 years$4,642$3,581$2,730$2,060$1,541$402
25 years$4,409$3,361$2,529$1,881$1,386$338
26 years$4,194$3,158$2,345$1,720$1,249$284
27 years$3,995$2,972$2,178$1,574$1,126$238
28 years$3,811$2,801$2,024$1,443$1,016$200
29 years$3,640$2,642$1,884$1,323$917$168
30 years$3,481$2,495$1,755$1,214$829$142
31 years$3,332$2,359$1,636$1,115$749$119
32 years$3,193$2,232$1,526$1,025$678$100
33 years$3,062$2,114$1,425$942$614$84
34 years$2,940$2,003$1,332$867$555$71
35 years$2,825$1,900$1,245$798$503$60
36 years$2,716$1,804$1,165$735$456$50
37 years$2,613$1,713$1,090$677$413$42
38 years$2,516$1,628$1,021$624$375$36
39 years$2,425$1,548$956$576$340$30
40 years$2,338$1,473$896$531$308$25
41 years$2,255$1,402$841$490$280$21
42 years$2,177$1,335$788$452$254$18
43 years$2,103$1,272$740$417$230$15
44 years$2,032$1,213$694$385$209$13
45 years$1,964$1,156$652$356$190$11
46 years$1,900$1,103$612$329$172$9
47 years$1,838$1,053$575$304$156$8
48 years$1,780$1,005$541$281$142$6
49 years$1,723$960$508$259$129$5
50 years$1,670$917$478$240$117$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,710,000, adding $6,840 every year, while hoping to spend $32,022 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: 72/7/21 Blend
57$1,710,000$1,710,000$1,710,000$1,710,000
58$1,891,475$1,800,845$1,774,340$2,017,510
59$2,050,335$1,855,016$1,799,710$2,156,490
60$2,224,325$1,910,767$1,824,856$2,304,182
61$2,414,954$1,968,143$1,849,737$2,465,141
62$2,623,886$2,027,189$1,874,310$2,640,681
63$2,852,951$2,087,950$1,898,528$2,832,247
64$3,104,166$2,150,473$1,922,342$3,041,433
65$3,379,751$2,214,807$1,945,701$3,269,992
66$3,682,154$2,281,000$1,968,550$3,519,858
67$4,014,068$2,349,103$1,990,830$3,793,160
68$4,378,462$2,419,168$2,012,482$4,092,244
69$4,778,605$2,491,247$2,033,440$4,419,694
70$5,218,099$2,565,395$2,053,637$4,778,357
71$5,700,912$2,641,666$2,073,001$5,171,370
72$6,231,415$2,720,118$2,091,456$5,602,189
73$6,814,422$2,800,807$2,108,923$6,074,622
74$7,455,240$2,883,793$2,125,319$6,592,864
75$8,159,713$2,969,137$2,140,555$7,161,537
76$8,934,278$3,056,900$2,154,539$7,785,736
77$9,786,031$3,147,145$2,167,172$8,471,072
78$10,722,788$3,239,936$2,178,354$9,223,729
79$11,753,158$3,335,339$2,187,975$10,050,523
80$12,886,631$3,433,421$2,195,923$10,958,960
81$14,133,660$3,534,251$2,202,079$11,957,315
82$15,505,762$3,637,898$2,206,317$13,054,705
83$17,015,628$3,744,434$2,208,507$14,261,175
84$18,677,242$3,853,931$2,208,512$15,587,797
85$20,506,010$3,966,462$2,206,186$17,046,768
86$22,518,908$4,082,104$2,201,378$18,651,532
87$24,734,642$4,200,933$2,193,930$20,416,901
88$27,173,824$4,323,027$2,183,675$22,359,200
89$29,859,164$4,448,465$2,170,438$24,496,415
90$32,815,687$4,577,329$2,154,036$26,848,370
91$36,070,969$4,709,699$2,134,278$29,436,908
92$39,655,394$4,845,661$2,110,963$32,286,100
93$43,602,443$4,985,298$2,083,880$35,422,474
94$47,949,011$5,128,696$2,052,808$38,875,259
95$52,735,752$5,275,943$2,017,519$42,676,670
96$58,007,461$5,427,128$1,977,769$46,862,205
97$63,813,505$5,582,339$1,933,306$51,470,983
98$70,208,277$5,741,668$1,883,866$56,546,113
99$77,251,718$5,905,207$1,829,173$62,135,101
100$85,009,879$6,073,049$1,768,936$68,290,299