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%14.5%
1 years$142,036$140,771$139,536$138,332$137,155$134,606
2 years$70,315$69,005$67,736$66,506$65,312$62,754
3 years$46,411$45,096$43,830$42,611$41,437$38,948
4 years$34,461$33,150$31,897$30,699$29,553$27,154
5 years$27,293$25,990$24,753$23,580$22,466$20,163
6 years$22,516$21,223$20,004$18,857$17,776$15,572
7 years$19,106$17,823$16,624$15,503$14,457$12,352
8 years$16,549$15,278$14,098$13,005$11,993$9,988
9 years$14,561$13,302$12,143$11,078$10,100$8,192
10 years$12,972$11,725$10,586$9,549$8,606$6,793
11 years$11,672$10,438$9,320$8,310$7,401$5,683
12 years$10,590$9,369$8,271$7,289$6,414$4,787
13 years$9,675$8,466$7,390$6,435$5,593$4,054
14 years$8,892$7,696$6,640$5,713$4,903$3,450
15 years$8,213$7,030$5,995$5,095$4,317$2,947
16 years$7,620$6,450$5,435$4,562$3,815$2,526
17 years$7,098$5,940$4,946$4,099$3,383$2,170
18 years$6,633$5,489$4,515$3,694$3,008$1,869
19 years$6,219$5,087$4,133$3,338$2,681$1,613
20 years$5,846$4,727$3,793$3,023$2,395$1,394
21 years$5,509$4,403$3,489$2,743$2,143$1,207
22 years$5,203$4,110$3,216$2,494$1,921$1,046
23 years$4,924$3,844$2,969$2,272$1,724$907
24 years$4,669$3,602$2,746$2,072$1,550$788
25 years$4,434$3,380$2,543$1,892$1,395$684
26 years$4,218$3,177$2,359$1,730$1,256$595
27 years$4,019$2,990$2,190$1,584$1,133$518
28 years$3,834$2,817$2,036$1,451$1,022$451
29 years$3,661$2,658$1,895$1,331$923$392
30 years$3,501$2,510$1,765$1,221$834$342
31 years$3,352$2,373$1,645$1,121$754$298
32 years$3,212$2,245$1,535$1,031$682$260
33 years$3,080$2,126$1,433$948$617$226
34 years$2,957$2,015$1,339$872$559$197
35 years$2,841$1,911$1,252$803$506$172
36 years$2,732$1,814$1,171$739$459$150
37 years$2,629$1,723$1,096$681$416$131
38 years$2,531$1,637$1,027$628$377$114
39 years$2,439$1,557$962$579$342$100
40 years$2,352$1,481$902$534$310$87
41 years$2,269$1,410$845$493$281$76
42 years$2,190$1,343$793$455$255$66
43 years$2,115$1,280$744$420$232$58
44 years$2,044$1,220$699$388$210$51
45 years$1,976$1,163$656$358$191$44
46 years$1,911$1,110$616$331$173$39
47 years$1,849$1,059$579$305$157$34
48 years$1,790$1,011$544$282$143$29
49 years$1,733$965$511$261$130$26
50 years$1,679$922$481$241$118$22

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 $2,614 every year, while hoping to spend $31,504 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: 58/37/5 Blend
57$1,720,000$1,720,000$1,720,000$1,720,000
58$1,898,136$1,806,976$1,780,316$2,006,339
59$2,058,226$1,861,998$1,806,437$2,134,228
60$2,233,589$1,918,660$1,832,377$2,269,729
61$2,425,751$1,977,010$1,858,096$2,416,613
62$2,636,389$2,037,094$1,883,554$2,575,969
63$2,867,353$2,098,965$1,908,706$2,748,997
64$3,120,680$2,162,671$1,933,505$2,937,016
65$3,398,614$2,228,267$1,957,901$3,141,478
66$3,703,625$2,295,804$1,981,844$3,363,980
67$4,038,435$2,365,339$2,005,276$3,606,280
68$4,406,043$2,436,928$2,028,140$3,870,315
69$4,809,751$2,510,629$2,050,374$4,158,214
70$5,253,198$2,586,502$2,071,914$4,472,322
71$5,740,390$2,664,607$2,092,689$4,815,222
72$6,275,745$2,745,007$2,112,629$5,189,756
73$6,864,125$2,827,767$2,131,657$5,599,055
74$7,510,890$2,912,952$2,149,692$6,046,565
75$8,221,944$3,000,630$2,166,649$6,536,082
76$9,003,791$3,090,870$2,182,441$7,071,785
77$9,863,598$3,183,742$2,196,972$7,658,277
78$10,809,259$3,279,320$2,210,146$8,300,630
79$11,849,475$3,377,678$2,221,857$9,004,425
80$12,993,829$3,478,892$2,231,997$9,775,814
81$14,252,883$3,583,040$2,240,451$10,621,570
82$15,638,270$3,690,203$2,247,100$11,549,156
83$17,162,813$3,800,462$2,251,817$12,566,791
84$18,840,636$3,913,900$2,254,469$13,683,530
85$20,687,304$4,030,605$2,254,917$14,909,347
86$22,719,968$4,150,663$2,253,015$16,255,231
87$24,957,524$4,274,165$2,248,610$17,733,287
88$27,420,794$4,401,202$2,241,542$19,356,851
89$30,132,722$4,531,868$2,231,641$21,140,616
90$33,118,590$4,666,260$2,218,731$23,100,769
91$36,406,255$4,804,475$2,202,627$25,255,144
92$40,026,413$4,946,614$2,183,135$27,623,391
93$44,012,888$5,092,780$2,160,051$30,227,157
94$48,402,954$5,243,077$2,133,164$33,090,296
95$53,237,679$5,397,612$2,102,249$36,239,088
96$58,562,322$5,556,495$2,067,074$39,702,491
97$64,426,752$5,719,836$2,027,394$43,512,410
98$70,885,923$5,887,750$1,982,954$47,704,000
99$78,000,390$6,060,352$1,933,485$52,315,998
100$85,836,881$6,237,762$1,878,709$57,391,086