Can I retire at age 58 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$161,855$160,413$159,007$157,634$156,293$150,211
2 years$80,126$78,634$77,188$75,785$74,425$68,371
3 years$52,887$51,388$49,946$48,556$47,218$41,383
4 years$39,270$37,776$36,348$34,982$33,677$28,104
5 years$31,102$29,617$28,207$26,870$25,600$20,305
6 years$25,658$24,184$22,796$21,488$20,257$15,242
7 years$21,771$20,310$18,943$17,666$16,474$11,738
8 years$18,858$17,409$16,065$14,820$13,667$9,205
9 years$16,593$15,158$13,837$12,623$11,510$7,316
10 years$14,782$13,361$12,064$10,881$9,807$5,873
11 years$13,301$11,894$10,621$9,470$8,434$4,751
12 years$12,068$10,676$9,425$8,307$7,309$3,867
13 years$11,025$9,648$8,421$7,333$6,373$3,163
14 years$10,132$8,770$7,566$6,510$5,587$2,596
15 years$9,359$8,011$6,831$5,806$4,919$2,138
16 years$8,684$7,350$6,194$5,198$4,348$1,765
17 years$8,088$6,769$5,636$4,671$3,855$1,460
18 years$7,559$6,255$5,145$4,209$3,428$1,210
19 years$7,086$5,797$4,710$3,803$3,055$1,004
20 years$6,661$5,387$4,323$3,445$2,729$834
21 years$6,278$5,018$3,976$3,126$2,442$694
22 years$5,929$4,684$3,664$2,842$2,189$577
23 years$5,611$4,381$3,383$2,589$1,965$481
24 years$5,320$4,104$3,129$2,361$1,766$401
25 years$5,053$3,852$2,898$2,156$1,589$334
26 years$4,807$3,620$2,688$1,972$1,431$278
27 years$4,579$3,407$2,496$1,805$1,291$232
28 years$4,368$3,210$2,320$1,653$1,165$194
29 years$4,172$3,029$2,159$1,516$1,052$162
30 years$3,990$2,860$2,011$1,392$950$135
31 years$3,819$2,704$1,875$1,278$859$113
32 years$3,660$2,558$1,749$1,174$777$94
33 years$3,510$2,423$1,633$1,080$703$79
34 years$3,370$2,296$1,526$994$637$66
35 years$3,237$2,178$1,427$915$577$55
36 years$3,113$2,067$1,335$843$522$46
37 years$2,995$1,963$1,249$776$474$38
38 years$2,884$1,866$1,170$715$429$32
39 years$2,779$1,774$1,096$660$389$27
40 years$2,680$1,688$1,027$608$353$22
41 years$2,585$1,607$963$561$320$19
42 years$2,495$1,530$904$518$291$16
43 years$2,410$1,458$848$478$264$13
44 years$2,329$1,390$796$442$239$11
45 years$2,251$1,325$747$408$217$9
46 years$2,178$1,264$702$377$197$8
47 years$2,107$1,207$660$348$179$6
48 years$2,040$1,152$620$322$163$5
49 years$1,975$1,100$583$297$148$4
50 years$1,914$1,051$548$275$134$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,960,000, adding $4,764 every year, while hoping to spend $52,823 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: 40/36/24 Blend
57$1,960,000$1,960,000$1,960,000$1,960,000
58$2,164,834$2,060,954$2,030,574$2,235,894
59$2,329,444$2,105,738$2,042,395$2,332,362
60$2,509,073$2,150,945$2,052,842$2,431,323
61$2,705,199$2,196,541$2,061,812$2,537,341
62$2,919,446$2,242,489$2,069,199$2,651,090
63$3,153,603$2,288,744$2,074,891$2,773,315
64$3,409,640$2,335,262$2,078,769$2,904,838
65$3,689,725$2,381,991$2,080,709$3,046,565
66$3,996,246$2,428,878$2,080,582$3,199,497
67$4,331,833$2,475,863$2,078,252$3,364,735
68$4,699,380$2,522,881$2,073,574$3,543,496
69$5,102,077$2,569,862$2,066,399$3,737,123
70$5,543,435$2,616,732$2,056,569$3,947,096
71$6,027,322$2,663,407$2,043,920$4,175,048
72$6,557,996$2,709,802$2,028,279$4,422,780
73$7,140,149$2,755,820$2,009,464$4,692,281
74$7,778,949$2,801,360$1,987,286$4,985,742
75$8,480,088$2,846,312$1,961,546$5,305,583
76$9,249,834$2,890,559$1,932,035$5,654,470
77$10,095,096$2,933,975$1,898,537$6,035,347
78$11,023,480$2,976,424$1,860,822$6,451,460
79$12,043,367$3,017,761$1,818,652$6,906,390
80$13,163,992$3,057,832$1,771,778$7,404,086
81$14,395,524$3,096,471$1,719,937$7,948,904
82$15,749,170$3,133,501$1,662,858$8,545,650
83$17,237,275$3,168,732$1,600,253$9,199,623
84$18,873,440$3,201,962$1,531,824$9,916,668
85$20,672,649$3,232,977$1,457,259$10,703,232
86$22,651,413$3,261,546$1,376,231$11,566,426
87$24,827,920$3,287,425$1,288,398$12,514,089
88$27,222,212$3,310,353$1,193,403$13,554,869
89$29,856,370$3,330,053$1,090,874$14,698,303
90$32,754,723$3,346,229$980,422$15,954,908
91$35,944,077$3,358,567$861,639$17,336,279
92$39,453,970$3,366,733$734,100$18,855,207
93$43,316,944$3,370,373$597,363$20,525,792
94$47,568,861$3,369,109$450,962$22,363,584
95$52,249,230$3,362,542$294,415$24,385,729
96$57,401,591$3,350,245$127,217$26,611,134
97$63,073,915$3,331,769$0$29,060,643
98$69,319,062$3,306,634$0$31,770,355
99$76,195,281$3,274,333$0$34,788,117
100$83,766,752$3,234,328$0$38,109,403