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%20%
1 years$161,029$159,595$158,195$156,829$155,496$149,267
2 years$79,717$78,233$76,794$75,399$74,046$67,849
3 years$52,617$51,126$49,691$48,309$46,978$41,008
4 years$39,070$37,583$36,162$34,804$33,505$27,807
5 years$30,943$29,466$28,063$26,733$25,470$20,059
6 years$25,527$24,061$22,679$21,378$20,153$15,032
7 years$21,660$20,206$18,847$17,576$16,390$11,557
8 years$18,761$17,320$15,983$14,744$13,597$9,047
9 years$16,508$15,081$13,767$12,559$11,451$7,177
10 years$14,706$13,293$12,002$10,826$9,757$5,750
11 years$13,233$11,834$10,566$9,422$8,391$4,643
12 years$12,006$10,621$9,377$8,264$7,271$3,771
13 years$10,969$9,599$8,378$7,296$6,341$3,078
14 years$10,081$8,725$7,528$6,477$5,558$2,522
15 years$9,312$7,970$6,797$5,776$4,894$2,072
16 years$8,639$7,313$6,162$5,172$4,325$1,707
17 years$8,047$6,735$5,607$4,647$3,835$1,409
18 years$7,520$6,223$5,119$4,188$3,410$1,165
19 years$7,050$5,768$4,686$3,784$3,039$965
20 years$6,627$5,359$4,300$3,427$2,715$800
21 years$6,245$4,992$3,956$3,110$2,430$663
22 years$5,899$4,660$3,646$2,828$2,178$551
23 years$5,583$4,358$3,366$2,575$1,955$458
24 years$5,293$4,084$3,113$2,349$1,757$380
25 years$5,027$3,832$2,883$2,145$1,581$316
26 years$4,782$3,602$2,674$1,961$1,424$263
27 years$4,556$3,390$2,483$1,795$1,284$219
28 years$4,346$3,194$2,308$1,645$1,159$182
29 years$4,151$3,013$2,148$1,508$1,046$152
30 years$3,969$2,846$2,001$1,384$945$126
31 years$3,800$2,690$1,865$1,271$855$105
32 years$3,641$2,545$1,741$1,169$773$88
33 years$3,492$2,410$1,625$1,075$700$73
34 years$3,352$2,285$1,518$989$633$61
35 years$3,221$2,167$1,420$910$574$51
36 years$3,097$2,057$1,328$838$520$42
37 years$2,980$1,953$1,243$772$471$35
38 years$2,870$1,856$1,164$712$427$29
39 years$2,765$1,765$1,091$656$387$24
40 years$2,666$1,679$1,022$605$351$20
41 years$2,572$1,599$958$559$319$17
42 years$2,483$1,523$899$515$289$14
43 years$2,398$1,451$844$476$262$12
44 years$2,317$1,383$792$439$238$10
45 years$2,240$1,319$744$406$216$8
46 years$2,166$1,258$698$375$196$7
47 years$2,096$1,200$656$346$178$6
48 years$2,029$1,146$617$320$162$5
49 years$1,965$1,094$580$296$147$4
50 years$1,904$1,045$545$273$134$3

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 $4,445 every year, while hoping to spend $51,058 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: 50/26/24 Blend
57$1,950,000$1,950,000$1,950,000$1,950,000
58$2,153,485$2,050,135$2,019,910$2,246,413
59$2,318,815$2,096,266$2,033,252$2,357,630
60$2,499,298$2,142,947$2,045,329$2,472,926
61$2,696,424$2,190,149$2,056,046$2,597,202
62$2,911,837$2,237,844$2,065,301$2,731,329
63$3,147,344$2,285,998$2,072,988$2,876,268
64$3,404,935$2,334,574$2,078,995$3,033,079
65$3,686,803$2,383,532$2,083,205$3,202,928
66$3,995,359$2,432,828$2,085,495$3,387,104
67$4,333,262$2,482,413$2,085,736$3,587,024
68$4,703,438$2,532,234$2,083,791$3,804,255
69$5,109,110$2,582,235$2,079,520$4,040,520
70$5,553,827$2,632,352$2,072,771$4,297,721
71$6,041,498$2,682,518$2,063,389$4,577,956
72$6,576,428$2,732,659$2,051,211$4,883,536
73$7,163,361$2,782,696$2,036,063$5,217,009
74$7,807,519$2,832,544$2,017,766$5,581,187
75$8,514,656$2,882,108$1,996,132$5,979,167
76$9,291,110$2,931,291$1,970,962$6,414,366
77$10,143,863$2,979,985$1,942,049$6,890,550
78$11,080,607$3,028,073$1,909,177$7,411,873
79$12,109,814$3,075,434$1,872,119$7,982,913
80$13,240,818$3,121,933$1,830,638$8,608,717
81$14,483,902$3,167,428$1,784,485$9,294,853
82$15,850,394$3,211,767$1,733,400$10,047,455
83$17,352,777$3,254,786$1,677,112$10,873,290
84$19,004,801$3,296,311$1,615,336$11,779,816
85$20,821,616$3,336,155$1,547,774$12,775,257
86$22,819,912$3,374,119$1,474,117$13,868,678
87$25,018,082$3,409,989$1,394,038$15,070,073
88$27,436,387$3,443,539$1,307,199$16,390,463
89$30,097,152$3,474,526$1,213,244$17,841,993
90$33,024,977$3,502,693$1,111,802$19,438,057
91$36,246,963$3,527,764$1,002,487$21,193,416
92$39,792,976$3,549,447$884,893$23,124,346
93$43,695,920$3,567,431$758,597$25,248,789
94$47,992,053$3,581,383$623,159$27,586,522
95$52,721,323$3,590,952$478,116$30,159,347
96$57,927,754$3,595,764$322,988$32,991,300
97$63,659,849$3,595,421$157,272$36,108,873
98$69,971,056$3,589,500$0$39,541,272
99$76,920,271$3,577,552$0$43,325,704
100$84,572,389$3,559,103$0$47,535,946