Can I retire at age 58 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$161,029$159,595$158,195$156,829$155,496$150,218
2 years$79,717$78,233$76,794$75,399$74,046$68,781
3 years$52,617$51,126$49,691$48,309$46,978$41,892
4 years$39,070$37,583$36,162$34,804$33,505$28,637
5 years$30,943$29,466$28,063$26,733$25,470$20,832
6 years$25,527$24,061$22,679$21,378$20,153$15,750
7 years$21,660$20,206$18,847$17,576$16,390$12,220
8 years$18,761$17,320$15,983$14,744$13,597$9,658
9 years$16,508$15,081$13,767$12,559$11,451$7,737
10 years$14,706$13,293$12,002$10,826$9,757$6,262
11 years$13,233$11,834$10,566$9,422$8,391$5,109
12 years$12,006$10,621$9,377$8,264$7,271$4,194
13 years$10,969$9,599$8,378$7,296$6,341$3,461
14 years$10,081$8,725$7,528$6,477$5,558$2,867
15 years$9,312$7,970$6,797$5,776$4,894$2,383
16 years$8,639$7,313$6,162$5,172$4,325$1,986
17 years$8,047$6,735$5,607$4,647$3,835$1,659
18 years$7,520$6,223$5,119$4,188$3,410$1,388
19 years$7,050$5,768$4,686$3,784$3,039$1,163
20 years$6,627$5,359$4,300$3,427$2,715$976
21 years$6,245$4,992$3,956$3,110$2,430$820
22 years$5,899$4,660$3,646$2,828$2,178$689
23 years$5,583$4,358$3,366$2,575$1,955$580
24 years$5,293$4,084$3,113$2,349$1,757$488
25 years$5,027$3,832$2,883$2,145$1,581$411
26 years$4,782$3,602$2,674$1,961$1,424$347
27 years$4,556$3,390$2,483$1,795$1,284$292
28 years$4,346$3,194$2,308$1,645$1,159$246
29 years$4,151$3,013$2,148$1,508$1,046$208
30 years$3,969$2,846$2,001$1,384$945$175
31 years$3,800$2,690$1,865$1,271$855$148
32 years$3,641$2,545$1,741$1,169$773$125
33 years$3,492$2,410$1,625$1,075$700$105
34 years$3,352$2,285$1,518$989$633$89
35 years$3,221$2,167$1,420$910$574$75
36 years$3,097$2,057$1,328$838$520$63
37 years$2,980$1,953$1,243$772$471$54
38 years$2,870$1,856$1,164$712$427$45
39 years$2,765$1,765$1,091$656$387$38
40 years$2,666$1,679$1,022$605$351$32
41 years$2,572$1,599$958$559$319$27
42 years$2,483$1,523$899$515$289$23
43 years$2,398$1,451$844$476$262$19
44 years$2,317$1,383$792$439$238$16
45 years$2,240$1,319$744$406$216$14
46 years$2,166$1,258$698$375$196$12
47 years$2,096$1,200$656$346$178$10
48 years$2,029$1,146$617$320$162$8
49 years$1,965$1,094$580$296$147$7
50 years$1,904$1,045$545$273$134$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,950,000, adding $4,997 every year, while hoping to spend $28,908 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: 46/26/28 Blend
57$1,950,000$1,950,000$1,950,000$1,950,000
58$2,154,054$2,050,704$2,020,479$2,235,573
59$2,343,010$2,120,431$2,057,408$2,363,541
60$2,550,270$2,192,605$2,094,604$2,499,121
61$2,777,672$2,267,317$2,132,047$2,645,677
62$3,027,237$2,344,658$2,169,714$2,804,252
63$3,301,195$2,424,726$2,207,579$2,975,995
64$3,602,000$2,507,621$2,245,615$3,162,170
65$3,932,355$2,593,445$2,283,795$3,364,168
66$4,295,240$2,682,309$2,322,086$3,583,520
67$4,693,935$2,774,322$2,360,457$3,821,909
68$5,132,055$2,869,603$2,398,871$4,081,189
69$5,613,583$2,968,272$2,437,291$4,363,403
70$6,142,905$3,070,454$2,475,677$4,670,795
71$6,724,855$3,176,280$2,513,986$5,005,841
72$7,364,759$3,285,886$2,552,173$5,371,262
73$8,068,482$3,399,413$2,590,190$5,770,058
74$8,842,490$3,517,007$2,627,984$6,205,531
75$9,693,904$3,638,820$2,665,501$6,681,316
76$10,630,571$3,765,011$2,702,684$7,201,418
77$11,661,136$3,895,743$2,739,471$7,770,247
78$12,795,126$4,031,188$2,775,797$8,392,660
79$14,043,036$4,171,524$2,811,593$9,074,005
80$15,416,431$4,316,934$2,846,787$9,820,174
81$16,928,055$4,467,611$2,881,302$10,637,658
82$18,591,947$4,623,755$2,915,056$11,533,605
83$20,423,579$4,785,572$2,947,963$12,515,889
84$22,439,997$4,953,279$2,979,934$13,593,185
85$24,659,987$5,127,099$3,010,872$14,775,048
86$27,104,246$5,307,267$3,040,676$16,072,005
87$29,795,580$5,494,025$3,069,240$17,495,653
88$32,759,122$5,687,625$3,096,452$19,058,768
89$36,022,563$5,888,329$3,122,194$20,775,426
90$39,616,419$6,096,412$3,146,342$22,661,133
91$43,574,314$6,312,156$3,168,765$24,732,975
92$47,933,301$6,535,858$3,189,325$27,009,775
93$52,734,208$6,767,825$3,207,877$29,512,272
94$58,022,026$7,008,378$3,224,270$32,263,317
95$63,846,333$7,257,849$3,238,344$35,288,086
96$70,261,760$7,516,585$3,249,930$38,614,319
97$77,328,508$7,784,946$3,258,851$42,272,581
98$85,112,917$8,063,309$3,264,923$46,296,548
99$93,688,087$8,352,064$3,267,951$50,723,329
100$103,134,575$8,651,618$3,267,730$55,593,810