Can I retire at age 58 with 1,840,000?

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 $1,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$151,945$150,592$149,272$147,983$146,724$142,772
2 years$75,221$73,820$72,462$71,146$69,869$65,915
3 years$49,649$48,242$46,888$45,584$44,328$40,496
4 years$36,866$35,463$34,122$32,840$31,615$27,935
5 years$29,198$27,803$26,480$25,225$24,033$20,516
6 years$24,087$22,704$21,400$20,172$19,017$15,664
7 years$20,438$19,066$17,783$16,585$15,466$12,279
8 years$17,703$16,343$15,082$13,913$12,830$9,807
9 years$15,577$14,230$12,990$11,850$10,805$7,943
10 years$13,877$12,543$11,325$10,215$9,206$6,502
11 years$12,487$11,166$9,970$8,890$7,918$5,367
12 years$11,329$10,022$8,848$7,798$6,861$4,459
13 years$10,350$9,057$7,905$6,884$5,983$3,724
14 years$9,512$8,233$7,103$6,111$5,245$3,124
15 years$8,786$7,521$6,413$5,450$4,618$2,630
16 years$8,152$6,900$5,814$4,880$4,081$2,221
17 years$7,593$6,355$5,291$4,385$3,619$1,879
18 years$7,096$5,872$4,830$3,951$3,218$1,594
19 years$6,652$5,442$4,422$3,570$2,868$1,354
20 years$6,254$5,057$4,058$3,234$2,562$1,152
21 years$5,893$4,711$3,732$2,935$2,292$981
22 years$5,566$4,397$3,440$2,668$2,055$836
23 years$5,268$4,113$3,176$2,430$1,845$714
24 years$4,995$3,853$2,938$2,216$1,658$610
25 years$4,744$3,616$2,721$2,024$1,492$521
26 years$4,513$3,398$2,523$1,851$1,344$445
27 years$4,299$3,198$2,343$1,694$1,212$381
28 years$4,101$3,014$2,178$1,552$1,093$326
29 years$3,917$2,843$2,027$1,423$987$279
30 years$3,745$2,685$1,888$1,306$892$239
31 years$3,585$2,538$1,760$1,200$806$205
32 years$3,436$2,402$1,642$1,103$729$175
33 years$3,295$2,274$1,533$1,014$660$150
34 years$3,163$2,156$1,433$933$598$129
35 years$3,039$2,045$1,340$859$541$110
36 years$2,922$1,941$1,253$791$491$94
37 years$2,812$1,843$1,173$729$445$81
38 years$2,708$1,752$1,098$672$403$69
39 years$2,609$1,666$1,029$619$365$60
40 years$2,516$1,585$965$571$332$51
41 years$2,427$1,509$904$527$301$44
42 years$2,343$1,437$848$486$273$38
43 years$2,262$1,369$796$449$248$32
44 years$2,186$1,305$747$415$225$28
45 years$2,114$1,244$702$383$204$24
46 years$2,044$1,187$659$354$185$20
47 years$1,978$1,133$619$327$168$17
48 years$1,915$1,081$582$302$153$15
49 years$1,854$1,033$547$279$139$13
50 years$1,796$986$514$258$126$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,840,000, adding $3,145 every year, while hoping to spend $36,708 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: 47/45/8 Blend
57$1,840,000$1,840,000$1,840,000$1,840,000
58$2,030,924$1,933,404$1,904,884$2,121,820
59$2,199,021$1,989,084$1,929,641$2,240,289
60$2,383,034$2,046,262$1,953,996$2,364,691
61$2,584,547$2,104,972$1,977,899$2,498,845
62$2,805,306$2,165,250$2,001,293$2,643,668
63$3,047,231$2,227,132$2,024,121$2,800,168
64$3,312,440$2,290,653$2,046,320$2,969,452
65$3,603,264$2,355,850$2,067,827$3,152,740
66$3,922,270$2,422,759$2,088,572$3,351,374
67$4,272,286$2,491,419$2,108,484$3,566,829
68$4,656,427$2,561,866$2,127,485$3,800,731
69$5,078,123$2,634,139$2,145,497$4,054,868
70$5,541,155$2,708,275$2,162,435$4,331,210
71$6,049,686$2,784,314$2,178,210$4,631,922
72$6,608,302$2,862,293$2,192,728$4,959,392
73$7,222,056$2,942,252$2,205,891$5,316,246
74$7,896,513$3,024,230$2,217,596$5,705,378
75$8,637,806$3,108,266$2,227,734$6,129,973
76$9,452,690$3,194,398$2,236,190$6,593,539
77$10,348,608$3,282,667$2,242,846$7,099,940
78$11,333,759$3,373,111$2,247,575$7,653,430
79$12,417,178$3,465,769$2,250,244$8,258,697
80$13,608,818$3,560,679$2,250,715$8,920,903
81$14,919,645$3,657,881$2,248,842$9,645,733
82$16,361,743$3,757,411$2,244,472$10,439,452
83$17,948,424$3,859,307$2,237,445$11,308,959
84$19,694,356$3,963,606$2,227,592$12,261,855
85$21,615,702$4,070,345$2,214,739$13,306,515
86$23,730,270$4,179,558$2,198,699$14,452,162
87$26,057,682$4,291,281$2,179,279$15,708,961
88$28,619,558$4,405,546$2,156,277$17,088,109
89$31,439,720$4,522,385$2,129,480$18,601,943
90$34,544,420$4,641,830$2,098,666$20,264,054
91$37,962,582$4,763,911$2,063,602$22,089,419
92$41,726,076$4,888,654$2,024,044$24,094,539
93$45,870,024$5,016,085$1,979,737$26,297,595
94$50,433,123$5,146,230$1,930,415$28,718,620
95$55,458,015$5,279,108$1,875,797$31,379,687
96$60,991,688$5,414,741$1,815,592$34,305,118
97$67,085,920$5,553,143$1,749,495$37,521,714
98$73,797,766$5,694,329$1,677,185$41,059,006
99$81,190,096$5,838,309$1,598,328$44,949,536
100$89,332,190$5,985,091$1,512,577$49,229,159