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%16.9%
1 years$161,029$159,595$158,195$156,829$155,496$151,124
2 years$79,717$78,233$76,794$75,399$74,046$69,675
3 years$52,617$51,126$49,691$48,309$46,978$42,744
4 years$39,070$37,583$36,162$34,804$33,505$29,441
5 years$30,943$29,466$28,063$26,733$25,470$21,587
6 years$25,527$24,061$22,679$21,378$20,153$16,456
7 years$21,660$20,206$18,847$17,576$16,390$12,877
8 years$18,761$17,320$15,983$14,744$13,597$10,267
9 years$16,508$15,081$13,767$12,559$11,451$8,301
10 years$14,706$13,293$12,002$10,826$9,757$6,782
11 years$13,233$11,834$10,566$9,422$8,391$5,587
12 years$12,006$10,621$9,377$8,264$7,271$4,633
13 years$10,969$9,599$8,378$7,296$6,341$3,862
14 years$10,081$8,725$7,528$6,477$5,558$3,233
15 years$9,312$7,970$6,797$5,776$4,894$2,716
16 years$8,639$7,313$6,162$5,172$4,325$2,288
17 years$8,047$6,735$5,607$4,647$3,835$1,932
18 years$7,520$6,223$5,119$4,188$3,410$1,635
19 years$7,050$5,768$4,686$3,784$3,039$1,386
20 years$6,627$5,359$4,300$3,427$2,715$1,176
21 years$6,245$4,992$3,956$3,110$2,430$1,000
22 years$5,899$4,660$3,646$2,828$2,178$850
23 years$5,583$4,358$3,366$2,575$1,955$724
24 years$5,293$4,084$3,113$2,349$1,757$617
25 years$5,027$3,832$2,883$2,145$1,581$526
26 years$4,782$3,602$2,674$1,961$1,424$448
27 years$4,556$3,390$2,483$1,795$1,284$383
28 years$4,346$3,194$2,308$1,645$1,159$327
29 years$4,151$3,013$2,148$1,508$1,046$279
30 years$3,969$2,846$2,001$1,384$945$238
31 years$3,800$2,690$1,865$1,271$855$203
32 years$3,641$2,545$1,741$1,169$773$174
33 years$3,492$2,410$1,625$1,075$700$149
34 years$3,352$2,285$1,518$989$633$127
35 years$3,221$2,167$1,420$910$574$109
36 years$3,097$2,057$1,328$838$520$93
37 years$2,980$1,953$1,243$772$471$79
38 years$2,870$1,856$1,164$712$427$68
39 years$2,765$1,765$1,091$656$387$58
40 years$2,666$1,679$1,022$605$351$50
41 years$2,572$1,599$958$559$319$42
42 years$2,483$1,523$899$515$289$36
43 years$2,398$1,451$844$476$262$31
44 years$2,317$1,383$792$439$238$27
45 years$2,240$1,319$744$406$216$23
46 years$2,166$1,258$698$375$196$19
47 years$2,096$1,200$656$346$178$17
48 years$2,029$1,146$617$320$162$14
49 years$1,965$1,094$580$296$147$12
50 years$1,904$1,045$545$273$134$10

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 $4,440 every year, while hoping to spend $52,960 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: 47/39/14 Blend
57$1,950,000$1,950,000$1,950,000$1,950,000
58$2,153,480$2,050,130$2,019,905$2,246,033
59$2,316,786$2,094,237$2,031,223$2,354,669
60$2,494,974$2,138,731$2,041,145$2,466,726
61$2,689,506$2,183,574$2,049,568$2,587,178
62$2,901,992$2,228,725$2,056,385$2,716,827
63$3,134,204$2,274,141$2,061,482$2,856,556
64$3,388,092$2,319,773$2,064,741$3,007,339
65$3,665,804$2,365,568$2,066,036$3,170,248
66$3,969,704$2,411,469$2,065,236$3,346,466
67$4,302,396$2,457,414$2,062,205$3,537,297
68$4,666,749$2,503,336$2,056,797$3,744,177
69$5,065,919$2,549,160$2,048,861$3,968,691
70$5,503,383$2,594,810$2,038,239$4,212,584
71$5,982,973$2,640,201$2,024,764$4,477,782
72$6,508,905$2,685,240$2,008,263$4,766,406
73$7,085,827$2,729,829$1,988,553$5,080,797
74$7,718,853$2,773,863$1,965,442$5,423,535
75$8,413,623$2,817,229$1,938,730$5,797,463
76$9,176,343$2,859,804$1,908,208$6,205,717
77$10,013,854$2,901,458$1,873,657$6,651,755
78$10,933,688$2,942,051$1,834,846$7,139,388
79$11,944,146$2,981,433$1,791,535$7,672,819
80$13,054,370$3,019,444$1,743,473$8,256,682
81$14,274,433$3,055,914$1,690,396$8,896,086
82$15,615,430$3,090,659$1,632,029$9,596,663
83$17,089,586$3,123,484$1,568,085$10,364,625
84$18,710,371$3,154,181$1,498,262$11,206,817
85$20,492,620$3,182,528$1,422,246$12,130,791
86$22,452,684$3,208,288$1,339,708$13,144,868
87$24,608,574$3,231,210$1,250,304$14,258,225
88$26,980,134$3,251,025$1,153,675$15,480,980
89$29,589,231$3,267,448$1,049,445$16,824,286
90$32,459,954$3,280,175$937,224$18,300,441
91$35,618,849$3,288,883$816,600$19,923,001
92$39,095,163$3,293,229$687,147$21,706,914
93$42,921,121$3,292,849$548,418$23,668,657
94$47,132,231$3,287,355$399,947$25,826,395
95$51,767,620$3,276,336$241,246$28,200,155
96$56,870,397$3,259,356$71,807$30,812,014
97$62,488,065$3,235,953$0$33,686,309
98$68,672,967$3,205,634$0$36,866,155
99$75,482,780$3,167,880$0$40,377,350
100$82,981,057$3,122,139$0$44,241,846