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

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$142,036$140,771$139,536$138,332$137,155$132,447
2 years$70,315$69,005$67,736$66,506$65,312$60,616
3 years$46,411$45,096$43,830$42,611$41,437$36,901
4 years$34,461$33,150$31,897$30,699$29,553$25,212
5 years$27,293$25,990$24,753$23,580$22,466$18,332
6 years$22,516$21,223$20,004$18,857$17,776$13,852
7 years$19,106$17,823$16,624$15,503$14,457$10,741
8 years$16,549$15,278$14,098$13,005$11,993$8,484
9 years$14,561$13,302$12,143$11,078$10,100$6,792
10 years$12,972$11,725$10,586$9,549$8,606$5,494
11 years$11,672$10,438$9,320$8,310$7,401$4,479
12 years$10,590$9,369$8,271$7,289$6,414$3,675
13 years$9,675$8,466$7,390$6,435$5,593$3,031
14 years$8,892$7,696$6,640$5,713$4,903$2,509
15 years$8,213$7,030$5,995$5,095$4,317$2,084
16 years$7,620$6,450$5,435$4,562$3,815$1,736
17 years$7,098$5,940$4,946$4,099$3,383$1,449
18 years$6,633$5,489$4,515$3,694$3,008$1,211
19 years$6,219$5,087$4,133$3,338$2,681$1,014
20 years$5,846$4,727$3,793$3,023$2,395$850
21 years$5,509$4,403$3,489$2,743$2,143$714
22 years$5,203$4,110$3,216$2,494$1,921$600
23 years$4,924$3,844$2,969$2,272$1,724$504
24 years$4,669$3,602$2,746$2,072$1,550$424
25 years$4,434$3,380$2,543$1,892$1,395$357
26 years$4,218$3,177$2,359$1,730$1,256$300
27 years$4,019$2,990$2,190$1,584$1,133$253
28 years$3,834$2,817$2,036$1,451$1,022$213
29 years$3,661$2,658$1,895$1,331$923$180
30 years$3,501$2,510$1,765$1,221$834$151
31 years$3,352$2,373$1,645$1,121$754$128
32 years$3,212$2,245$1,535$1,031$682$108
33 years$3,080$2,126$1,433$948$617$91
34 years$2,957$2,015$1,339$872$559$77
35 years$2,841$1,911$1,252$803$506$65
36 years$2,732$1,814$1,171$739$459$54
37 years$2,629$1,723$1,096$681$416$46
38 years$2,531$1,637$1,027$628$377$39
39 years$2,439$1,557$962$579$342$33
40 years$2,352$1,481$902$534$310$28
41 years$2,269$1,410$845$493$281$23
42 years$2,190$1,343$793$455$255$20
43 years$2,115$1,280$744$420$232$17
44 years$2,044$1,220$699$388$210$14
45 years$1,976$1,163$656$358$191$12
46 years$1,911$1,110$616$331$173$10
47 years$1,849$1,059$579$305$157$8
48 years$1,790$1,011$544$282$143$7
49 years$1,733$965$511$261$130$6
50 years$1,679$922$481$241$118$5

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 $5,280 every year, while hoping to spend $27,578 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: 29/43/28 Blend
57$1,720,000$1,720,000$1,720,000$1,720,000
58$1,900,886$1,809,726$1,783,066$1,939,455
59$2,065,434$1,869,060$1,813,456$2,029,688
60$2,245,841$1,930,377$1,843,940$2,123,877
61$2,443,696$1,993,745$1,874,491$2,224,590
62$2,660,750$2,059,235$1,905,083$2,332,407
63$2,898,928$2,126,919$1,935,685$2,447,971
64$3,160,354$2,196,873$1,966,266$2,571,984
65$3,447,366$2,269,176$1,996,791$2,705,219
66$3,762,539$2,343,908$2,027,227$2,848,526
67$4,108,713$2,421,154$2,057,533$3,002,838
68$4,489,011$2,501,000$2,087,670$3,169,182
69$4,906,878$2,583,536$2,117,594$3,348,687
70$5,366,106$2,668,857$2,147,261$3,542,594
71$5,870,877$2,757,058$2,176,622$3,752,267
72$6,425,792$2,848,240$2,205,625$3,979,210
73$7,035,926$2,942,507$2,234,216$4,225,074
74$7,706,866$3,039,966$2,262,338$4,491,678
75$8,444,771$3,140,728$2,289,931$4,781,022
76$9,256,424$3,244,910$2,316,929$5,095,307
77$10,149,299$3,352,631$2,343,267$5,436,957
78$11,131,632$3,464,014$2,368,871$5,808,639
79$12,212,497$3,579,190$2,393,667$6,213,289
80$13,401,892$3,698,290$2,417,574$6,654,140
81$14,710,832$3,821,453$2,440,510$7,134,750
82$16,151,455$3,948,822$2,462,386$7,659,037
83$17,737,135$4,080,547$2,483,108$8,231,316
84$19,482,610$4,216,780$2,502,578$8,856,336
85$21,404,115$4,357,682$2,520,694$9,539,330
86$23,519,544$4,503,417$2,537,346$10,286,059
87$25,848,612$4,654,159$2,552,421$11,102,868
88$28,413,041$4,810,084$2,565,799$11,996,745
89$31,236,770$4,971,377$2,577,352$12,975,386
90$34,346,176$5,138,230$2,586,949$14,047,271
91$37,770,324$5,310,841$2,594,449$15,221,735
92$41,541,242$5,489,417$2,599,708$16,509,067
93$45,694,221$5,674,170$2,602,570$17,920,595
94$50,268,151$5,865,324$2,602,876$19,468,803
95$55,305,884$6,063,107$2,600,454$21,167,439
96$60,854,644$6,267,759$2,595,129$23,031,653
97$66,966,465$6,479,526$2,586,713$25,078,130
98$73,698,688$6,698,667$2,575,012$27,325,256
99$81,114,500$6,925,447$2,559,821$29,793,285
100$89,283,529$7,160,144$2,540,924$32,504,531