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%13.4%
1 years$151,945$150,592$149,272$147,983$146,724$144,651
2 years$75,221$73,820$72,462$71,146$69,869$67,784
3 years$49,649$48,242$46,888$45,584$44,328$42,296
4 years$36,866$35,463$34,122$32,840$31,615$29,652
5 years$29,198$27,803$26,480$25,225$24,033$22,145
6 years$24,087$22,704$21,400$20,172$19,017$17,206
7 years$20,438$19,066$17,783$16,585$15,466$13,732
8 years$17,703$16,343$15,082$13,913$12,830$11,174
9 years$15,577$14,230$12,990$11,850$10,805$9,225
10 years$13,877$12,543$11,325$10,215$9,206$7,702
11 years$12,487$11,166$9,970$8,890$7,918$6,487
12 years$11,329$10,022$8,848$7,798$6,861$5,503
13 years$10,350$9,057$7,905$6,884$5,983$4,695
14 years$9,512$8,233$7,103$6,111$5,245$4,025
15 years$8,786$7,521$6,413$5,450$4,618$3,465
16 years$8,152$6,900$5,814$4,880$4,081$2,992
17 years$7,593$6,355$5,291$4,385$3,619$2,591
18 years$7,096$5,872$4,830$3,951$3,218$2,249
19 years$6,652$5,442$4,422$3,570$2,868$1,957
20 years$6,254$5,057$4,058$3,234$2,562$1,705
21 years$5,893$4,711$3,732$2,935$2,292$1,488
22 years$5,566$4,397$3,440$2,668$2,055$1,301
23 years$5,268$4,113$3,176$2,430$1,845$1,138
24 years$4,995$3,853$2,938$2,216$1,658$997
25 years$4,744$3,616$2,721$2,024$1,492$873
26 years$4,513$3,398$2,523$1,851$1,344$766
27 years$4,299$3,198$2,343$1,694$1,212$672
28 years$4,101$3,014$2,178$1,552$1,093$591
29 years$3,917$2,843$2,027$1,423$987$519
30 years$3,745$2,685$1,888$1,306$892$456
31 years$3,585$2,538$1,760$1,200$806$401
32 years$3,436$2,402$1,642$1,103$729$353
33 years$3,295$2,274$1,533$1,014$660$311
34 years$3,163$2,156$1,433$933$598$273
35 years$3,039$2,045$1,340$859$541$241
36 years$2,922$1,941$1,253$791$491$212
37 years$2,812$1,843$1,173$729$445$187
38 years$2,708$1,752$1,098$672$403$164
39 years$2,609$1,666$1,029$619$365$145
40 years$2,516$1,585$965$571$332$128
41 years$2,427$1,509$904$527$301$112
42 years$2,343$1,437$848$486$273$99
43 years$2,262$1,369$796$449$248$87
44 years$2,186$1,305$747$415$225$77
45 years$2,114$1,244$702$383$204$68
46 years$2,044$1,187$659$354$185$60
47 years$1,978$1,133$619$327$168$53
48 years$1,915$1,081$582$302$153$46
49 years$1,854$1,033$547$279$139$41
50 years$1,796$986$514$258$126$36

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 $3,722 every year, while hoping to spend $45,832 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: 85/7/8 Blend
57$1,840,000$1,840,000$1,840,000$1,840,000
58$2,031,519$1,933,999$1,905,479$2,202,126
59$2,189,969$1,980,000$1,920,548$2,360,052
60$2,363,045$2,026,719$1,934,585$2,526,906
61$2,552,190$2,074,143$1,947,508$2,708,777
62$2,758,994$2,122,256$1,959,230$2,907,143
63$2,985,206$2,171,041$1,969,659$3,123,637
64$3,232,752$2,220,477$1,978,697$3,360,052
65$3,503,754$2,270,542$1,986,245$3,618,367
66$3,800,548$2,321,210$1,992,196$3,900,758
67$4,125,707$2,372,452$1,996,437$4,209,624
68$4,482,063$2,424,236$1,998,852$4,547,608
69$4,872,737$2,476,527$1,999,317$4,917,619
70$5,301,165$2,529,286$1,997,702$5,322,862
71$5,771,132$2,582,469$1,993,874$5,766,870
72$6,286,806$2,636,029$1,987,688$6,253,530
73$6,852,781$2,689,915$1,978,996$6,787,131
74$7,474,114$2,744,070$1,967,641$7,372,391
75$8,156,377$2,798,433$1,953,461$8,014,513
76$8,905,708$2,852,937$1,936,282$8,719,227
77$9,728,867$2,907,508$1,915,925$9,492,847
78$10,633,305$2,962,069$1,892,202$10,342,327
79$11,627,226$3,016,535$1,864,914$11,275,334
80$12,719,671$3,070,813$1,833,857$12,300,310
81$13,920,599$3,124,804$1,798,813$13,426,559
82$15,240,983$3,178,402$1,759,555$14,664,335
83$16,692,910$3,231,491$1,715,848$16,024,931
84$18,289,701$3,283,948$1,667,443$17,520,795
85$20,046,030$3,335,641$1,614,081$19,165,641
86$21,978,063$3,386,425$1,555,491$20,974,581
87$24,103,615$3,436,149$1,491,389$22,964,266
88$26,442,312$3,484,650$1,421,480$25,153,045
89$29,015,781$3,531,750$1,345,452$27,561,136
90$31,847,848$3,577,264$1,262,983$30,210,819
91$34,964,769$3,620,990$1,173,733$33,126,643
92$38,395,472$3,662,715$1,077,349$36,335,662
93$42,171,832$3,702,209$973,462$39,867,685
94$46,328,971$3,739,230$861,685$43,755,563
95$50,905,590$3,773,516$741,616$48,035,495
96$55,944,333$3,804,791$612,832$52,747,369
97$61,492,188$3,832,759$474,895$57,935,143
98$67,600,932$3,857,106$327,346$63,647,256
99$74,327,620$3,877,497$169,705$69,937,086
100$81,735,119$3,893,575$1,471$76,863,454