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%14%
1 years$161,855$160,413$159,007$157,634$156,293$153,704
2 years$80,126$78,634$77,188$75,785$74,425$71,824
3 years$52,887$51,388$49,946$48,556$47,218$44,687
4 years$39,270$37,776$36,348$34,982$33,677$31,233
5 years$31,102$29,617$28,207$26,870$25,600$23,253
6 years$25,658$24,184$22,796$21,488$20,257$18,008
7 years$21,771$20,310$18,943$17,666$16,474$14,324
8 years$18,858$17,409$16,065$14,820$13,667$11,615
9 years$16,593$15,158$13,837$12,623$11,510$9,556
10 years$14,782$13,361$12,064$10,881$9,807$7,949
11 years$13,301$11,894$10,621$9,470$8,434$6,670
12 years$12,068$10,676$9,425$8,307$7,309$5,636
13 years$11,025$9,648$8,421$7,333$6,373$4,790
14 years$10,132$8,770$7,566$6,510$5,587$4,090
15 years$9,359$8,011$6,831$5,806$4,919$3,506
16 years$8,684$7,350$6,194$5,198$4,348$3,015
17 years$8,088$6,769$5,636$4,671$3,855$2,600
18 years$7,559$6,255$5,145$4,209$3,428$2,247
19 years$7,086$5,797$4,710$3,803$3,055$1,946
20 years$6,661$5,387$4,323$3,445$2,729$1,689
21 years$6,278$5,018$3,976$3,126$2,442$1,467
22 years$5,929$4,684$3,664$2,842$2,189$1,276
23 years$5,611$4,381$3,383$2,589$1,965$1,111
24 years$5,320$4,104$3,129$2,361$1,766$969
25 years$5,053$3,852$2,898$2,156$1,589$845
26 years$4,807$3,620$2,688$1,972$1,431$738
27 years$4,579$3,407$2,496$1,805$1,291$644
28 years$4,368$3,210$2,320$1,653$1,165$563
29 years$4,172$3,029$2,159$1,516$1,052$492
30 years$3,990$2,860$2,011$1,392$950$431
31 years$3,819$2,704$1,875$1,278$859$377
32 years$3,660$2,558$1,749$1,174$777$330
33 years$3,510$2,423$1,633$1,080$703$289
34 years$3,370$2,296$1,526$994$637$253
35 years$3,237$2,178$1,427$915$577$222
36 years$3,113$2,067$1,335$843$522$194
37 years$2,995$1,963$1,249$776$474$170
38 years$2,884$1,866$1,170$715$429$149
39 years$2,779$1,774$1,096$660$389$131
40 years$2,680$1,688$1,027$608$353$115
41 years$2,585$1,607$963$561$320$100
42 years$2,495$1,530$904$518$291$88
43 years$2,410$1,458$848$478$264$77
44 years$2,329$1,390$796$442$239$68
45 years$2,251$1,325$747$408$217$59
46 years$2,178$1,264$702$377$197$52
47 years$2,107$1,207$660$348$179$46
48 years$2,040$1,152$620$322$163$40
49 years$1,975$1,100$583$297$148$35
50 years$1,914$1,051$548$275$134$31

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 $6,573 every year, while hoping to spend $32,623 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: 66/27/7 Blend
57$1,960,000$1,960,000$1,960,000$1,960,000
58$2,166,700$2,062,820$2,032,440$2,306,612
59$2,352,993$2,129,188$2,065,816$2,466,757
60$2,557,194$2,197,714$2,099,217$2,637,193
61$2,781,096$2,268,470$2,132,609$2,822,591
62$3,026,673$2,341,530$2,165,956$3,024,405
63$3,296,098$2,416,970$2,199,221$3,244,236
64$3,591,767$2,494,868$2,232,361$3,483,846
65$3,916,318$2,575,307$2,265,336$3,745,172
66$4,272,655$2,658,370$2,298,098$4,030,349
67$4,663,981$2,744,145$2,330,599$4,341,725
68$5,093,820$2,832,722$2,362,787$4,681,889
69$5,566,058$2,924,193$2,394,609$5,053,686
70$6,084,973$3,018,655$2,426,005$5,460,253
71$6,655,279$3,116,209$2,456,915$5,905,042
72$7,282,171$3,216,956$2,487,275$6,391,855
73$7,971,368$3,321,003$2,517,015$6,924,879
74$8,729,177$3,428,461$2,546,064$7,508,724
75$9,562,540$3,539,443$2,574,344$8,148,470
76$10,479,111$3,654,067$2,601,776$8,849,709
77$11,487,319$3,772,455$2,628,275$9,618,601
78$12,596,454$3,894,734$2,653,750$10,461,931
79$13,816,750$4,021,033$2,678,108$11,387,174
80$15,159,482$4,151,488$2,701,249$12,402,561
81$16,637,077$4,286,238$2,723,068$13,517,163
82$18,263,223$4,425,428$2,743,455$14,740,968
83$20,053,004$4,569,206$2,762,293$16,084,982
84$22,023,041$4,717,728$2,779,461$17,561,328
85$24,191,648$4,871,154$2,794,830$19,183,363
86$26,579,004$5,029,648$2,808,264$20,965,800
87$29,207,344$5,193,383$2,819,623$22,924,850
88$32,101,170$5,362,535$2,828,757$25,078,373
89$35,287,477$5,537,288$2,835,509$27,446,045
90$38,796,016$5,717,831$2,839,714$30,049,544
91$42,659,566$5,904,361$2,841,201$32,912,757
92$46,914,249$6,097,081$2,839,788$36,061,999
93$51,599,866$6,296,202$2,835,285$39,526,266
94$56,760,278$6,501,942$2,827,492$43,337,505
95$62,443,815$6,714,525$2,816,202$47,530,916
96$68,703,732$6,934,185$2,801,193$52,145,285
97$75,598,717$7,161,165$2,782,237$57,223,347
98$83,193,437$7,395,713$2,759,093$62,812,190
99$91,559,154$7,638,089$2,731,509$68,963,699
100$100,774,394$7,888,561$2,699,220$75,735,046