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

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 $1,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$151,945$150,592$149,272$147,983$146,724$141,971
2 years$75,221$73,820$72,462$71,146$69,869$65,124
3 years$49,649$48,242$46,888$45,584$44,328$39,741
4 years$36,866$35,463$34,122$32,840$31,615$27,221
5 years$29,198$27,803$26,480$25,225$24,033$19,844
6 years$24,087$22,704$21,400$20,172$19,017$15,036
7 years$20,438$19,066$17,783$16,585$15,466$11,693
8 years$17,703$16,343$15,082$13,913$12,830$9,263
9 years$15,577$14,230$12,990$11,850$10,805$7,439
10 years$13,877$12,543$11,325$10,215$9,206$6,036
11 years$12,487$11,166$9,970$8,890$7,918$4,937
12 years$11,329$10,022$8,848$7,798$6,861$4,064
13 years$10,350$9,057$7,905$6,884$5,983$3,363
14 years$9,512$8,233$7,103$6,111$5,245$2,794
15 years$8,786$7,521$6,413$5,450$4,618$2,329
16 years$8,152$6,900$5,814$4,880$4,081$1,946
17 years$7,593$6,355$5,291$4,385$3,619$1,631
18 years$7,096$5,872$4,830$3,951$3,218$1,369
19 years$6,652$5,442$4,422$3,570$2,868$1,150
20 years$6,254$5,057$4,058$3,234$2,562$968
21 years$5,893$4,711$3,732$2,935$2,292$816
22 years$5,566$4,397$3,440$2,668$2,055$688
23 years$5,268$4,113$3,176$2,430$1,845$581
24 years$4,995$3,853$2,938$2,216$1,658$490
25 years$4,744$3,616$2,721$2,024$1,492$414
26 years$4,513$3,398$2,523$1,851$1,344$350
27 years$4,299$3,198$2,343$1,694$1,212$296
28 years$4,101$3,014$2,178$1,552$1,093$251
29 years$3,917$2,843$2,027$1,423$987$212
30 years$3,745$2,685$1,888$1,306$892$179
31 years$3,585$2,538$1,760$1,200$806$152
32 years$3,436$2,402$1,642$1,103$729$129
33 years$3,295$2,274$1,533$1,014$660$109
34 years$3,163$2,156$1,433$933$598$92
35 years$3,039$2,045$1,340$859$541$78
36 years$2,922$1,941$1,253$791$491$66
37 years$2,812$1,843$1,173$729$445$56
38 years$2,708$1,752$1,098$672$403$48
39 years$2,609$1,666$1,029$619$365$40
40 years$2,516$1,585$965$571$332$34
41 years$2,427$1,509$904$527$301$29
42 years$2,343$1,437$848$486$273$24
43 years$2,262$1,369$796$449$248$21
44 years$2,186$1,305$747$415$225$18
45 years$2,114$1,244$702$383$204$15
46 years$2,044$1,187$659$354$185$13
47 years$1,978$1,133$619$327$168$11
48 years$1,915$1,081$582$302$153$9
49 years$1,854$1,033$547$279$139$8
50 years$1,796$986$514$258$126$7

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 $4,946 every year, while hoping to spend $46,620 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: 48/43/9 Blend
57$1,840,000$1,840,000$1,840,000$1,840,000
58$2,032,782$1,935,262$1,906,742$2,125,182
59$2,190,522$1,980,486$1,921,014$2,234,343
60$2,362,790$2,026,364$1,934,202$2,347,501
61$2,551,017$2,072,879$1,946,221$2,469,282
62$2,756,780$2,120,010$1,956,979$2,600,504
63$2,981,817$2,167,735$1,966,383$2,742,067
64$3,228,039$2,216,030$1,974,333$2,894,962
65$3,497,550$2,264,868$1,980,725$3,060,279
66$3,792,670$2,314,216$1,985,449$3,239,222
67$4,115,950$2,364,040$1,988,389$3,433,114
68$4,470,203$2,414,304$1,989,426$3,643,415
69$4,858,524$2,464,965$1,988,432$3,871,731
70$5,284,323$2,515,978$1,985,274$4,119,834
71$5,751,355$2,567,292$1,979,812$4,389,674
72$6,263,758$2,618,854$1,971,901$4,683,403
73$6,826,087$2,670,604$1,961,385$5,003,388
74$7,443,363$2,722,478$1,948,106$5,352,242
75$8,121,112$2,774,406$1,931,894$5,732,841
76$8,865,425$2,826,311$1,912,572$6,148,356
77$9,683,010$2,878,113$1,889,955$6,602,282
78$10,581,259$2,929,722$1,863,851$7,098,470
79$11,568,313$2,981,044$1,834,055$7,641,166
80$12,653,140$3,031,974$1,800,355$8,235,047
81$13,845,624$3,082,404$1,762,530$8,885,271
82$15,156,649$3,132,213$1,720,346$9,597,520
83$16,598,209$3,181,274$1,673,560$10,378,060
84$18,183,520$3,229,450$1,621,918$11,233,793
85$19,927,140$3,276,594$1,565,153$12,172,332
86$21,845,110$3,322,549$1,502,987$13,202,063
87$23,955,102$3,367,145$1,435,129$14,332,232
88$26,276,591$3,410,203$1,361,273$15,573,031
89$28,831,030$3,451,530$1,281,103$16,935,692
90$31,642,060$3,490,920$1,194,285$18,432,596
91$34,735,728$3,528,153$1,100,472$20,077,390
92$38,140,736$3,562,996$999,301$21,885,117
93$41,888,706$3,595,197$890,392$23,872,356
94$46,014,483$3,624,492$773,350$26,057,382
95$50,556,464$3,650,595$647,760$28,460,339
96$55,556,955$3,673,206$513,192$31,103,429
97$61,062,573$3,692,001$369,192$34,011,124
98$67,124,686$3,706,641$215,291$37,210,399
99$73,799,898$3,716,760$50,997$40,730,984
100$81,150,579$3,721,972$0$44,605,650