Can I retire at age 58 with 1,740,000?

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 $1,740,000?

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$143,688$142,408$141,159$139,940$138,750$133,827
2 years$71,132$69,808$68,524$67,279$66,071$61,164
3 years$46,951$45,620$44,339$43,106$41,918$37,181
4 years$34,862$33,536$32,268$31,056$29,897$25,365
5 years$27,611$26,292$25,041$23,854$22,727$18,413
6 years$22,778$21,470$20,237$19,076$17,983$13,891
7 years$19,328$18,030$16,817$15,683$14,625$10,753
8 years$16,741$15,455$14,262$13,156$12,133$8,478
9 years$14,730$13,457$12,284$11,206$10,218$6,775
10 years$13,122$11,861$10,709$9,660$8,706$5,470
11 years$11,808$10,559$9,428$8,407$7,487$4,451
12 years$10,713$9,478$8,367$7,374$6,488$3,645
13 years$9,788$8,565$7,476$6,510$5,658$2,999
14 years$8,995$7,785$6,717$5,779$4,960$2,478
15 years$8,309$7,112$6,065$5,154$4,367$2,054
16 years$7,709$6,525$5,498$4,615$3,860$1,707
17 years$7,180$6,009$5,003$4,146$3,422$1,421
18 years$6,711$5,553$4,567$3,737$3,043$1,186
19 years$6,291$5,146$4,181$3,376$2,712$991
20 years$5,914$4,782$3,837$3,058$2,423$829
21 years$5,573$4,455$3,530$2,775$2,168$694
22 years$5,263$4,158$3,253$2,523$1,943$582
23 years$4,981$3,889$3,004$2,298$1,744$488
24 years$4,723$3,644$2,778$2,096$1,568$409
25 years$4,486$3,419$2,573$1,914$1,411$344
26 years$4,267$3,214$2,386$1,750$1,271$289
27 years$4,065$3,025$2,216$1,602$1,146$243
28 years$3,878$2,850$2,060$1,468$1,034$204
29 years$3,704$2,689$1,917$1,346$934$171
30 years$3,542$2,539$1,786$1,235$843$144
31 years$3,391$2,400$1,665$1,135$763$121
32 years$3,249$2,271$1,553$1,043$690$102
33 years$3,116$2,151$1,450$959$624$86
34 years$2,991$2,039$1,355$882$565$72
35 years$2,874$1,934$1,267$812$512$61
36 years$2,764$1,835$1,185$748$464$51
37 years$2,659$1,743$1,109$689$420$43
38 years$2,561$1,656$1,039$635$381$36
39 years$2,467$1,575$973$586$346$30
40 years$2,379$1,499$912$540$313$26
41 years$2,295$1,427$855$498$284$22
42 years$2,215$1,359$802$460$258$18
43 years$2,139$1,294$753$425$234$15
44 years$2,067$1,234$707$392$213$13
45 years$1,999$1,177$664$362$193$11
46 years$1,933$1,122$623$334$175$9
47 years$1,871$1,071$585$309$159$8
48 years$1,811$1,023$550$286$145$6
49 years$1,754$977$517$264$131$5
50 years$1,699$933$486$244$119$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,740,000, adding $2,428 every year, while hoping to spend $26,956 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: 26/50/24 Blend
57$1,740,000$1,740,000$1,740,000$1,740,000
58$1,919,984$1,827,764$1,800,794$1,955,298
59$2,087,142$1,888,644$1,832,440$2,044,814
60$2,270,446$1,951,603$1,864,242$2,138,298
61$2,471,515$2,016,715$1,896,178$2,238,036
62$2,692,132$2,084,057$1,928,223$2,344,573
63$2,934,260$2,153,706$1,960,349$2,458,506
64$3,200,063$2,225,746$1,992,529$2,580,491
65$3,491,923$2,300,261$2,024,731$2,711,247
66$3,812,464$2,377,338$2,056,925$2,851,565
67$4,164,577$2,457,070$2,089,074$3,002,313
68$4,551,448$2,539,551$2,121,143$3,164,443
69$4,976,586$2,624,879$2,153,091$3,339,003
70$5,443,856$2,713,157$2,184,878$3,527,144
71$5,957,517$2,804,489$2,216,459$3,730,130
72$6,522,260$2,898,985$2,247,787$3,949,352
73$7,143,256$2,996,760$2,278,812$4,186,338
74$7,826,198$3,097,931$2,309,482$4,442,768
75$8,577,361$3,202,621$2,339,741$4,720,492
76$9,403,659$3,310,957$2,369,530$5,021,541
77$10,312,709$3,423,070$2,398,785$5,348,153
78$11,312,903$3,539,099$2,427,443$5,702,787
79$12,413,488$3,659,184$2,455,431$6,088,149
80$13,624,653$3,783,473$2,482,677$6,507,219
81$14,957,624$3,912,119$2,509,103$6,963,274
82$16,424,771$4,045,282$2,534,627$7,459,922
83$18,039,723$4,183,126$2,559,162$8,001,131
84$19,817,498$4,325,823$2,582,618$8,591,274
85$21,774,644$4,473,550$2,604,897$9,235,161
86$23,929,396$4,626,492$2,625,899$9,938,087
87$26,301,846$4,784,841$2,645,518$10,705,885
88$28,914,132$4,948,796$2,663,641$11,544,974
89$31,790,651$5,118,564$2,680,150$12,462,424
90$34,958,283$5,294,360$2,694,921$13,466,018
91$38,446,652$5,476,408$2,707,825$14,564,329
92$42,288,396$5,664,938$2,718,723$15,766,797
93$46,519,485$5,860,191$2,727,472$17,083,818
94$51,179,551$6,062,419$2,733,921$18,526,841
95$56,312,268$6,271,882$2,737,911$20,108,478
96$61,965,764$6,488,848$2,739,275$21,842,618
97$68,193,070$6,713,600$2,737,839$23,744,560
98$75,052,625$6,946,428$2,733,419$25,831,155
99$82,608,827$7,187,637$2,725,822$28,120,967
100$90,932,638$7,437,542$2,714,848$30,634,442