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

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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$141,210$139,952$138,725$137,527$136,358$135,328
2 years$69,906$68,604$67,342$66,119$64,932$63,894
3 years$46,141$44,834$43,575$42,363$41,196$40,182
4 years$34,261$32,957$31,711$30,520$29,381$28,398
5 years$27,135$25,839$24,609$23,442$22,335$21,387
6 years$22,385$21,099$19,888$18,747$17,673$16,760
7 years$18,994$17,719$16,527$15,413$14,373$13,496
8 years$16,452$15,189$14,016$12,930$11,924$11,083
9 years$14,476$13,225$12,072$11,013$10,041$9,237
10 years$12,896$11,657$10,525$9,493$8,556$7,786
11 years$11,604$10,377$9,266$8,262$7,358$6,624
12 years$10,529$9,314$8,223$7,247$6,377$5,676
13 years$9,619$8,417$7,347$6,398$5,560$4,893
14 years$8,840$7,651$6,601$5,679$4,874$4,240
15 years$8,166$6,989$5,960$5,065$4,292$3,689
16 years$7,576$6,413$5,404$4,535$3,793$3,221
17 years$7,056$5,906$4,917$4,075$3,363$2,821
18 years$6,595$5,457$4,489$3,672$2,990$2,477
19 years$6,182$5,058$4,109$3,318$2,665$2,180
20 years$5,812$4,700$3,771$3,005$2,381$1,922
21 years$5,477$4,378$3,469$2,727$2,131$1,698
22 years$5,173$4,086$3,197$2,480$1,910$1,502
23 years$4,895$3,822$2,952$2,258$1,714$1,330
24 years$4,642$3,581$2,730$2,060$1,541$1,179
25 years$4,409$3,361$2,529$1,881$1,386$1,047
26 years$4,194$3,158$2,345$1,720$1,249$930
27 years$3,995$2,972$2,178$1,574$1,126$827
28 years$3,811$2,801$2,024$1,443$1,016$735
29 years$3,640$2,642$1,884$1,323$917$654
30 years$3,481$2,495$1,755$1,214$829$583
31 years$3,332$2,359$1,636$1,115$749$519
32 years$3,193$2,232$1,526$1,025$678$463
33 years$3,062$2,114$1,425$942$614$413
34 years$2,940$2,003$1,332$867$555$368
35 years$2,825$1,900$1,245$798$503$329
36 years$2,716$1,804$1,165$735$456$293
37 years$2,613$1,713$1,090$677$413$262
38 years$2,516$1,628$1,021$624$375$234
39 years$2,425$1,548$956$576$340$209
40 years$2,338$1,473$896$531$308$186
41 years$2,255$1,402$841$490$280$167
42 years$2,177$1,335$788$452$254$149
43 years$2,103$1,272$740$417$230$133
44 years$2,032$1,213$694$385$209$119
45 years$1,964$1,156$652$356$190$106
46 years$1,900$1,103$612$329$172$95
47 years$1,838$1,053$575$304$156$85
48 years$1,780$1,005$541$281$142$76
49 years$1,723$960$508$259$129$68
50 years$1,670$917$478$240$117$61

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 $6,257 every year, while hoping to spend $42,255 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: 54/32/14 Blend
57$1,710,000$1,710,000$1,710,000$1,710,000
58$1,890,874$1,800,244$1,773,739$1,985,683
59$2,038,784$1,843,497$1,788,200$2,094,192
60$2,200,365$1,887,453$1,801,730$2,207,165
61$2,376,966$1,932,102$1,814,252$2,329,167
62$2,570,074$1,977,433$1,825,686$2,461,066
63$2,781,324$2,023,430$1,835,950$2,603,819
64$3,012,519$2,070,077$1,844,954$2,758,481
65$3,265,642$2,117,357$1,852,605$2,926,212
66$3,542,877$2,165,247$1,858,808$3,108,291
67$3,846,631$2,213,725$1,863,458$3,306,128
68$4,179,553$2,262,763$1,866,449$3,521,273
69$4,544,560$2,312,331$1,867,668$3,755,439
70$4,944,868$2,362,397$1,866,997$4,010,508
71$5,384,014$2,412,925$1,864,312$4,288,559
72$5,865,899$2,463,873$1,859,482$4,591,877
73$6,394,816$2,515,199$1,852,370$4,922,985
74$6,975,497$2,566,853$1,842,834$5,284,661
75$7,613,152$2,618,784$1,830,723$5,679,967
76$8,313,522$2,670,932$1,815,881$6,112,276
77$9,082,930$2,723,237$1,798,142$6,585,308
78$9,928,343$2,775,630$1,777,333$7,103,159
79$10,857,435$2,828,036$1,753,275$7,670,346
80$11,878,661$2,880,378$1,725,777$8,291,848
81$13,001,335$2,932,568$1,694,642$8,973,148
82$14,235,721$2,984,513$1,659,662$9,720,293
83$15,593,124$3,036,113$1,620,620$10,539,947
84$17,086,001$3,087,261$1,577,289$11,439,452
85$18,728,076$3,137,839$1,529,431$12,426,904
86$20,534,470$3,187,725$1,476,798$13,511,223
87$22,521,846$3,236,782$1,419,130$14,702,241
88$24,708,558$3,284,869$1,356,155$16,010,794
89$27,114,834$3,331,830$1,287,589$17,448,827
90$29,762,959$3,377,502$1,213,135$19,029,502
91$32,677,489$3,421,708$1,132,484$20,767,329
92$35,885,480$3,464,259$1,045,309$22,678,299
93$39,416,745$3,504,954$951,273$24,780,037
94$43,304,134$3,543,578$850,022$27,091,966
95$47,583,844$3,579,901$741,186$29,635,497
96$52,295,759$3,613,679$624,378$32,434,227
97$57,483,827$3,644,650$499,195$35,514,164
98$63,196,476$3,672,536$365,217$38,903,970
99$69,487,069$3,697,042$222,004$42,635,238
100$76,414,405$3,717,853$69,096$46,742,788