Can I retire at age 58 with 1,890,000?

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 $1,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$156,074$154,684$153,328$152,004$150,711$145,480
2 years$77,265$75,826$74,431$73,079$71,767$66,551
3 years$50,998$49,553$48,162$46,822$45,532$40,494
4 years$37,867$36,427$35,049$33,733$32,474$27,653
5 years$29,991$28,559$27,200$25,910$24,686$20,096
6 years$24,742$23,320$21,981$20,720$19,533$15,177
7 years$20,994$19,585$18,267$17,035$15,886$11,762
8 years$18,184$16,788$15,492$14,291$13,179$9,284
9 years$16,000$14,617$13,343$12,172$11,098$7,429
10 years$14,254$12,884$11,633$10,493$9,456$6,005
11 years$12,826$11,470$10,241$9,132$8,133$4,893
12 years$11,637$10,295$9,089$8,010$7,048$4,012
13 years$10,632$9,303$8,120$7,071$6,146$3,306
14 years$9,771$8,456$7,296$6,277$5,387$2,735
15 years$9,025$7,725$6,587$5,598$4,743$2,270
16 years$8,373$7,088$5,972$5,013$4,192$1,889
17 years$7,799$6,527$5,435$4,504$3,717$1,576
18 years$7,289$6,032$4,961$4,059$3,305$1,317
19 years$6,833$5,590$4,542$3,667$2,946$1,102
20 years$6,424$5,195$4,168$3,322$2,631$923
21 years$6,053$4,839$3,834$3,015$2,355$774
22 years$5,717$4,517$3,534$2,741$2,111$650
23 years$5,411$4,224$3,263$2,496$1,895$546
24 years$5,130$3,958$3,017$2,277$1,703$459
25 years$4,873$3,714$2,795$2,079$1,532$386
26 years$4,635$3,491$2,592$1,901$1,380$325
27 years$4,416$3,285$2,407$1,740$1,245$273
28 years$4,212$3,096$2,237$1,594$1,123$230
29 years$4,023$2,920$2,082$1,462$1,014$194
30 years$3,847$2,758$1,939$1,342$916$163
31 years$3,683$2,607$1,808$1,232$828$137
32 years$3,529$2,467$1,687$1,133$749$116
33 years$3,385$2,336$1,575$1,041$678$98
34 years$3,249$2,214$1,472$958$614$82
35 years$3,122$2,100$1,376$882$556$69
36 years$3,002$1,993$1,287$812$504$58
37 years$2,888$1,893$1,205$749$457$49
38 years$2,781$1,799$1,128$690$414$41
39 years$2,680$1,711$1,057$636$375$35
40 years$2,584$1,628$991$587$341$29
41 years$2,493$1,550$929$541$309$25
42 years$2,406$1,476$871$500$280$21
43 years$2,324$1,406$818$461$254$18
44 years$2,246$1,340$768$426$231$15
45 years$2,171$1,278$721$393$210$13
46 years$2,100$1,219$677$363$190$11
47 years$2,032$1,164$636$336$173$9
48 years$1,967$1,111$598$310$157$8
49 years$1,905$1,061$562$287$143$6
50 years$1,845$1,013$528$265$129$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,890,000, adding $6,421 every year, while hoping to spend $42,023 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: 75/15/10 Blend
57$1,890,000$1,890,000$1,890,000$1,890,000
58$2,089,403$1,989,233$1,959,938$2,241,880
59$2,257,810$2,041,994$1,980,884$2,396,011
60$2,441,986$2,095,931$2,001,123$2,558,934
61$2,643,496$2,151,058$2,020,587$2,736,294
62$2,864,060$2,207,388$2,039,205$2,929,509
63$3,105,577$2,264,932$2,056,901$3,140,141
64$3,370,133$2,323,702$2,073,595$3,369,908
65$3,660,030$2,383,706$2,089,203$3,620,706
66$3,977,800$2,444,954$2,103,638$3,894,620
67$4,326,232$2,507,454$2,116,807$4,193,947
68$4,708,399$2,571,211$2,128,612$4,521,218
69$5,127,686$2,636,230$2,138,950$4,879,220
70$5,587,819$2,702,514$2,147,714$5,271,023
71$6,092,905$2,770,066$2,154,790$5,700,010
72$6,647,466$2,838,884$2,160,061$6,169,906
73$7,256,484$2,908,966$2,163,400$6,684,816
74$7,925,448$2,980,308$2,164,676$7,249,262
75$8,660,404$3,052,903$2,163,753$7,868,226
76$9,468,011$3,126,741$2,160,485$8,547,196
77$10,355,609$3,201,812$2,154,721$9,292,220
78$11,331,280$3,278,100$2,146,303$10,109,961
79$12,403,930$3,355,587$2,135,065$11,007,759
80$13,583,372$3,434,251$2,120,830$11,993,703
81$14,880,416$3,514,069$2,103,418$13,076,704
82$16,306,971$3,595,012$2,082,635$14,266,584
83$17,876,161$3,677,046$2,058,283$15,574,161
84$19,602,444$3,760,136$2,030,149$17,011,359
85$21,501,749$3,844,238$1,998,015$18,591,314
86$23,591,629$3,929,307$1,961,650$20,328,502
87$25,891,422$4,015,291$1,920,812$22,238,874
88$28,422,438$4,102,131$1,875,251$24,340,007
89$31,208,156$4,189,764$1,824,700$26,651,269
90$34,274,445$4,278,120$1,768,886$29,194,003
91$37,649,813$4,367,122$1,707,517$31,991,728
92$41,365,668$4,456,686$1,640,293$35,070,358
93$45,456,621$4,546,718$1,566,898$38,458,454
94$49,960,808$4,637,119$1,487,001$42,187,485
95$54,920,253$4,727,780$1,400,257$46,292,129
96$60,381,259$4,818,581$1,306,306$50,810,604
97$66,394,850$4,909,395$1,204,771$55,785,020
98$73,017,251$5,000,081$1,095,257$61,261,785
99$80,310,416$5,090,491$977,353$67,292,038
100$88,342,614$5,180,460$850,630$73,932,134