Can I retire at age 58 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$142,036$140,771$139,536$138,332$137,155$135,441
2 years$70,315$69,005$67,736$66,506$65,312$63,587
3 years$46,411$45,096$43,830$42,611$41,437$39,755
4 years$34,461$33,150$31,897$30,699$29,553$27,927
5 years$27,293$25,990$24,753$23,580$22,466$20,901
6 years$22,516$21,223$20,004$18,857$17,776$16,274
7 years$19,106$17,823$16,624$15,503$14,457$13,017
8 years$16,549$15,278$14,098$13,005$11,993$10,617
9 years$14,561$13,302$12,143$11,078$10,100$8,786
10 years$12,972$11,725$10,586$9,549$8,606$7,353
11 years$11,672$10,438$9,320$8,310$7,401$6,209
12 years$10,590$9,369$8,271$7,289$6,414$5,280
13 years$9,675$8,466$7,390$6,435$5,593$4,517
14 years$8,892$7,696$6,640$5,713$4,903$3,883
15 years$8,213$7,030$5,995$5,095$4,317$3,351
16 years$7,620$6,450$5,435$4,562$3,815$2,902
17 years$7,098$5,940$4,946$4,099$3,383$2,520
18 years$6,633$5,489$4,515$3,694$3,008$2,194
19 years$6,219$5,087$4,133$3,338$2,681$1,914
20 years$5,846$4,727$3,793$3,023$2,395$1,673
21 years$5,509$4,403$3,489$2,743$2,143$1,465
22 years$5,203$4,110$3,216$2,494$1,921$1,284
23 years$4,924$3,844$2,969$2,272$1,724$1,127
24 years$4,669$3,602$2,746$2,072$1,550$990
25 years$4,434$3,380$2,543$1,892$1,395$870
26 years$4,218$3,177$2,359$1,730$1,256$766
27 years$4,019$2,990$2,190$1,584$1,133$674
28 years$3,834$2,817$2,036$1,451$1,022$594
29 years$3,661$2,658$1,895$1,331$923$524
30 years$3,501$2,510$1,765$1,221$834$462
31 years$3,352$2,373$1,645$1,121$754$408
32 years$3,212$2,245$1,535$1,031$682$360
33 years$3,080$2,126$1,433$948$617$318
34 years$2,957$2,015$1,339$872$559$280
35 years$2,841$1,911$1,252$803$506$248
36 years$2,732$1,814$1,171$739$459$219
37 years$2,629$1,723$1,096$681$416$193
38 years$2,531$1,637$1,027$628$377$171
39 years$2,439$1,557$962$579$342$151
40 years$2,352$1,481$902$534$310$134
41 years$2,269$1,410$845$493$281$118
42 years$2,190$1,343$793$455$255$104
43 years$2,115$1,280$744$420$232$92
44 years$2,044$1,220$699$388$210$82
45 years$1,976$1,163$656$358$191$72
46 years$1,911$1,110$616$331$173$64
47 years$1,849$1,059$579$305$157$57
48 years$1,790$1,011$544$282$143$50
49 years$1,733$965$511$261$130$44
50 years$1,679$922$481$241$118$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,720,000, adding $4,669 every year, while hoping to spend $46,153 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: 43/36/21 Blend
57$1,720,000$1,720,000$1,720,000$1,720,000
58$1,900,256$1,809,096$1,782,436$1,970,163
59$2,044,976$1,848,635$1,793,041$2,059,669
60$2,202,910$1,888,565$1,802,455$2,151,736
61$2,375,358$1,928,856$1,810,588$2,250,542
62$2,563,750$1,969,475$1,817,348$2,356,733
63$2,769,660$2,010,387$1,822,637$2,471,020
64$2,994,822$2,051,553$1,826,352$2,594,187
65$3,241,144$2,092,929$1,828,385$2,727,099
66$3,510,727$2,134,469$1,828,622$2,870,711
67$3,805,886$2,176,123$1,826,946$3,026,073
68$4,129,169$2,217,836$1,823,232$3,194,346
69$4,483,382$2,259,547$1,817,347$3,376,808
70$4,871,615$2,301,194$1,809,157$3,574,871
71$5,297,273$2,342,705$1,798,516$3,790,089
72$5,764,103$2,384,005$1,785,275$4,024,177
73$6,276,235$2,425,015$1,769,275$4,279,029
74$6,838,216$2,465,646$1,750,351$4,556,730
75$7,455,056$2,505,805$1,728,330$4,859,581
76$8,132,273$2,545,391$1,703,031$5,190,120
77$8,875,946$2,584,296$1,674,263$5,551,145
78$9,692,770$2,622,404$1,641,828$5,945,742
79$10,590,122$2,659,591$1,605,518$6,377,315
80$11,576,127$2,695,723$1,565,116$6,849,616
81$12,659,738$2,730,660$1,520,393$7,366,786
82$13,850,816$2,764,247$1,471,112$7,933,389
83$15,160,228$2,796,324$1,417,023$8,554,458
84$16,599,944$2,826,717$1,357,865$9,235,543
85$18,183,152$2,855,239$1,293,368$9,982,765
86$19,924,383$2,881,695$1,223,245$10,802,874
87$21,839,645$2,905,874$1,147,199$11,703,311
88$23,946,578$2,927,551$1,064,919$12,692,283
89$26,264,616$2,946,488$976,081$13,778,840
90$28,815,171$2,962,430$880,344$14,972,957
91$31,621,838$2,975,108$777,355$16,285,637
92$34,710,611$2,984,234$666,742$17,729,008
93$38,110,134$2,989,503$548,119$19,316,446
94$41,851,969$2,990,589$421,082$21,062,695
95$45,970,891$2,987,149$285,209$22,984,013
96$50,505,218$2,978,816$140,060$25,098,323
97$55,497,174$2,965,201$0$27,425,389
98$60,993,282$2,945,893$0$29,990,320
99$67,044,809$2,920,454$0$32,847,520
100$73,708,243$2,888,419$0$35,992,163