Can I retire at age 58 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$160,203$158,776$157,384$156,025$154,698$153,723
2 years$79,309$77,832$76,400$75,012$73,666$72,682
3 years$52,347$50,864$49,436$48,061$46,737$45,775
4 years$38,869$37,390$35,977$34,625$33,333$32,401
5 years$30,784$29,314$27,919$26,596$25,339$24,439
6 years$25,396$23,937$22,563$21,269$20,050$19,183
7 years$21,549$20,103$18,750$17,486$16,306$15,473
8 years$18,665$17,232$15,901$14,669$13,527$12,728
9 years$16,423$15,003$13,696$12,494$11,392$10,626
10 years$14,631$13,225$11,940$10,770$9,707$8,974
11 years$13,165$11,773$10,512$9,373$8,348$7,648
12 years$11,945$10,567$9,329$8,222$7,234$6,566
13 years$10,913$9,549$8,335$7,259$6,308$5,672
14 years$10,029$8,680$7,489$6,443$5,530$4,924
15 years$9,264$7,929$6,762$5,746$4,869$4,293
16 years$8,595$7,275$6,130$5,145$4,303$3,756
17 years$8,005$6,700$5,578$4,623$3,816$3,296
18 years$7,482$6,191$5,092$4,166$3,393$2,900
19 years$7,014$5,738$4,662$3,765$3,024$2,558
20 years$6,593$5,332$4,278$3,409$2,701$2,260
21 years$6,213$4,967$3,935$3,094$2,417$2,001
22 years$5,868$4,636$3,627$2,813$2,167$1,774
23 years$5,554$4,336$3,349$2,562$1,945$1,575
24 years$5,266$4,063$3,097$2,337$1,748$1,399
25 years$5,002$3,813$2,869$2,134$1,573$1,245
26 years$4,758$3,583$2,660$1,951$1,417$1,108
27 years$4,533$3,372$2,470$1,786$1,277$988
28 years$4,324$3,178$2,297$1,637$1,153$881
29 years$4,130$2,998$2,137$1,501$1,041$786
30 years$3,949$2,831$1,991$1,377$940$702
31 years$3,780$2,676$1,856$1,265$850$627
32 years$3,622$2,532$1,732$1,163$769$560
33 years$3,474$2,398$1,617$1,069$696$501
34 years$3,335$2,273$1,511$984$630$448
35 years$3,204$2,156$1,412$905$571$400
36 years$3,081$2,046$1,321$834$517$358
37 years$2,965$1,943$1,237$768$469$321
38 years$2,855$1,847$1,158$708$425$287
39 years$2,751$1,756$1,085$653$385$257
40 years$2,652$1,671$1,017$602$350$230
41 years$2,559$1,591$954$556$317$206
42 years$2,470$1,515$894$513$288$185
43 years$2,385$1,443$839$473$261$165
44 years$2,305$1,376$788$437$237$148
45 years$2,228$1,312$740$404$215$133
46 years$2,155$1,251$695$373$195$119
47 years$2,086$1,194$653$345$177$107
48 years$2,019$1,140$613$318$161$96
49 years$1,955$1,089$577$294$146$86
50 years$1,894$1,040$542$272$133$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,940,000, adding $2,162 every year, while hoping to spend $22,096 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: 38/43/19 Blend
57$1,940,000$1,940,000$1,940,000$1,940,000
58$2,140,110$2,037,290$2,007,220$2,209,153
59$2,334,891$2,113,607$2,050,952$2,335,435
60$2,548,800$2,192,924$2,095,408$2,469,568
61$2,783,763$2,275,362$2,140,590$2,614,069
62$3,041,904$2,361,053$2,186,497$2,769,887
63$3,325,563$2,450,129$2,233,130$2,938,063
64$3,637,317$2,542,732$2,280,486$3,119,738
65$3,980,005$2,639,008$2,328,564$3,316,167
66$4,356,756$2,739,109$2,377,361$3,528,729
67$4,771,014$2,843,194$2,426,872$3,758,937
68$5,226,578$2,951,431$2,477,093$4,008,456
69$5,727,630$3,063,993$2,528,017$4,279,114
70$6,278,780$3,181,060$2,579,637$4,572,922
71$6,885,106$3,302,822$2,631,944$4,892,090
72$7,552,202$3,429,476$2,684,930$5,239,049
73$8,286,234$3,561,227$2,738,582$5,616,470
74$9,093,993$3,698,291$2,792,889$6,027,293
75$9,982,965$3,840,892$2,847,835$6,474,749
76$10,961,396$3,989,264$2,903,406$6,962,396
77$12,038,372$4,143,652$2,959,584$7,494,144
78$13,223,905$4,304,310$3,016,349$8,074,298
79$14,529,028$4,471,505$3,073,681$8,707,595
80$15,965,896$4,645,516$3,131,557$9,399,245
81$17,547,905$4,826,634$3,189,951$10,154,984
82$19,289,813$5,015,160$3,248,836$10,981,124
83$21,207,884$5,211,414$3,308,182$11,884,613
84$23,320,040$5,415,725$3,367,958$12,873,099
85$25,646,027$5,628,439$3,428,128$13,955,000
86$28,207,607$5,849,917$3,488,655$15,139,585
87$31,028,757$6,080,537$3,549,499$16,437,056
88$34,135,899$6,320,692$3,610,616$17,858,648
89$37,558,149$6,570,794$3,671,960$19,416,729
90$41,327,591$6,831,274$3,733,482$21,124,921
91$45,479,580$7,102,581$3,795,128$22,998,219
92$50,053,073$7,385,183$3,856,840$25,053,139
93$55,091,001$7,679,572$3,918,560$27,307,868
94$60,640,673$7,986,261$3,980,221$29,782,435
95$66,754,218$8,305,784$4,041,755$32,498,899
96$73,489,084$8,638,703$4,103,089$35,481,554
97$80,908,572$8,985,601$4,164,144$38,757,158
98$89,082,441$9,347,091$4,224,838$42,355,182
99$98,087,563$9,723,811$4,285,083$46,308,089
100$108,008,647$10,116,430$4,344,786$50,651,633