Can I retire at age 58 with 1,920,000?

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$158,552$157,140$155,762$154,417$153,103$148,919
2 years$78,491$77,029$75,612$74,239$72,906$68,721
3 years$51,808$50,339$48,926$47,566$46,255$42,200
4 years$38,468$37,005$35,606$34,268$32,989$29,096
5 years$30,467$29,012$27,632$26,321$25,078$21,357
6 years$25,135$23,691$22,330$21,049$19,843$16,298
7 years$21,327$19,895$18,557$17,306$16,138$12,768
8 years$18,473$17,054$15,738$14,517$13,388$10,192
9 years$16,254$14,849$13,555$12,366$11,275$8,250
10 years$14,480$13,088$11,817$10,659$9,607$6,749
11 years$13,029$11,652$10,404$9,277$8,262$5,567
12 years$11,822$10,458$9,233$8,137$7,160$4,622
13 years$10,800$9,451$8,249$7,184$6,243$3,858
14 years$9,926$8,591$7,412$6,377$5,473$3,234
15 years$9,168$7,848$6,692$5,687$4,819$2,721
16 years$8,506$7,200$6,067$5,092$4,259$2,295
17 years$7,923$6,631$5,521$4,575$3,776$1,941
18 years$7,405$6,127$5,040$4,123$3,358$1,645
19 years$6,942$5,679$4,614$3,726$2,993$1,397
20 years$6,525$5,277$4,234$3,374$2,673$1,187
21 years$6,149$4,915$3,895$3,062$2,392$1,010
22 years$5,808$4,588$3,590$2,784$2,144$861
23 years$5,497$4,291$3,314$2,536$1,925$734
24 years$5,212$4,021$3,065$2,313$1,730$626
25 years$4,950$3,773$2,839$2,112$1,557$535
26 years$4,709$3,546$2,633$1,931$1,402$457
27 years$4,486$3,337$2,445$1,768$1,264$390
28 years$4,279$3,145$2,273$1,620$1,141$334
29 years$4,087$2,967$2,115$1,485$1,030$285
30 years$3,908$2,802$1,970$1,363$931$244
31 years$3,741$2,649$1,837$1,252$841$209
32 years$3,585$2,506$1,714$1,151$761$179
33 years$3,438$2,373$1,600$1,058$689$153
34 years$3,301$2,249$1,495$973$624$131
35 years$3,171$2,134$1,398$896$565$112
36 years$3,049$2,025$1,308$825$512$96
37 years$2,934$1,923$1,224$760$464$82
38 years$2,825$1,828$1,146$701$421$71
39 years$2,723$1,738$1,074$646$381$60
40 years$2,625$1,654$1,006$596$346$52
41 years$2,532$1,574$944$550$314$44
42 years$2,444$1,499$885$508$285$38
43 years$2,361$1,428$831$469$258$33
44 years$2,281$1,362$780$433$235$28
45 years$2,205$1,298$732$400$213$24
46 years$2,133$1,239$688$369$193$20
47 years$2,064$1,182$646$341$176$18
48 years$1,998$1,128$607$315$159$15
49 years$1,935$1,078$571$291$145$13
50 years$1,875$1,029$536$269$132$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,920,000, adding $2,028 every year, while hoping to spend $28,467 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: 39/47/14 Blend
57$1,920,000$1,920,000$1,920,000$1,920,000
58$2,117,932$2,016,172$1,986,412$2,191,551
59$2,303,672$2,084,676$2,022,668$2,312,584
60$2,507,404$2,155,582$2,059,185$2,440,451
61$2,730,932$2,228,979$2,095,940$2,578,090
62$2,976,245$2,304,956$2,132,912$2,726,398
63$3,245,533$2,383,610$2,170,076$2,886,359
64$3,541,208$2,465,038$2,207,404$3,059,055
65$3,865,928$2,549,341$2,244,869$3,245,673
66$4,222,620$2,636,626$2,282,439$3,447,520
67$4,614,509$2,727,003$2,320,083$3,666,031
68$5,045,149$2,820,585$2,357,765$3,902,785
69$5,518,452$2,917,492$2,395,448$4,159,516
70$6,038,730$3,017,846$2,433,092$4,438,134
71$6,610,736$3,121,775$2,470,655$4,740,736
72$7,239,701$3,229,413$2,508,093$5,069,632
73$7,931,394$3,340,896$2,545,357$5,427,360
74$8,692,166$3,456,370$2,582,396$5,816,716
75$9,529,017$3,575,983$2,619,157$6,240,772
76$10,449,661$3,699,890$2,655,582$6,702,912
77$11,462,593$3,828,251$2,691,611$7,206,858
78$12,577,177$3,961,235$2,727,180$7,756,708
79$13,803,729$4,099,015$2,762,220$8,356,971
80$15,153,615$4,241,773$2,796,660$9,012,612
81$16,639,359$4,389,695$2,830,424$9,729,094
82$18,274,762$4,542,978$2,863,431$10,512,434
83$20,075,028$4,701,825$2,895,597$11,369,254
84$22,056,914$4,866,447$2,926,832$12,306,848
85$24,238,880$5,037,064$2,957,042$13,333,243
86$26,641,270$5,213,904$2,986,127$14,457,282
87$29,286,499$5,397,205$3,013,981$15,688,701
88$32,199,268$5,587,214$3,040,496$17,038,221
89$35,406,794$5,784,188$3,065,553$18,517,649
90$38,939,068$5,988,395$3,089,031$20,139,990
91$42,829,140$6,200,113$3,110,799$21,919,566
92$47,113,424$6,419,631$3,130,723$23,872,152
93$51,832,050$6,647,250$3,148,660$26,015,120
94$57,029,238$6,883,283$3,164,458$28,367,610
95$62,753,714$7,128,057$3,177,961$30,950,701
96$69,059,172$7,381,912$3,189,002$33,787,612
97$76,004,781$7,645,199$3,197,408$36,903,924
98$83,655,742$7,918,287$3,202,994$40,327,812
99$92,083,903$8,201,559$3,205,570$44,090,317
100$101,368,437$8,495,411$3,204,933$48,225,633