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%18.3%
1 years$161,855$160,413$159,007$157,634$156,293$151,048
2 years$80,126$78,634$77,188$75,785$74,425$69,193
3 years$52,887$51,388$49,946$48,556$47,218$42,163
4 years$39,270$37,776$36,348$34,982$33,677$28,837
5 years$31,102$29,617$28,207$26,870$25,600$20,989
6 years$25,658$24,184$22,796$21,488$20,257$15,877
7 years$21,771$20,310$18,943$17,666$16,474$12,326
8 years$18,858$17,409$16,065$14,820$13,667$9,747
9 years$16,593$15,158$13,837$12,623$11,510$7,813
10 years$14,782$13,361$12,064$10,881$9,807$6,328
11 years$13,301$11,894$10,621$9,470$8,434$5,166
12 years$12,068$10,676$9,425$8,307$7,309$4,244
13 years$11,025$9,648$8,421$7,333$6,373$3,504
14 years$10,132$8,770$7,566$6,510$5,587$2,905
15 years$9,359$8,011$6,831$5,806$4,919$2,417
16 years$8,684$7,350$6,194$5,198$4,348$2,015
17 years$8,088$6,769$5,636$4,671$3,855$1,685
18 years$7,559$6,255$5,145$4,209$3,428$1,411
19 years$7,086$5,797$4,710$3,803$3,055$1,183
20 years$6,661$5,387$4,323$3,445$2,729$994
21 years$6,278$5,018$3,976$3,126$2,442$835
22 years$5,929$4,684$3,664$2,842$2,189$703
23 years$5,611$4,381$3,383$2,589$1,965$592
24 years$5,320$4,104$3,129$2,361$1,766$499
25 years$5,053$3,852$2,898$2,156$1,589$420
26 years$4,807$3,620$2,688$1,972$1,431$354
27 years$4,579$3,407$2,496$1,805$1,291$299
28 years$4,368$3,210$2,320$1,653$1,165$252
29 years$4,172$3,029$2,159$1,516$1,052$213
30 years$3,990$2,860$2,011$1,392$950$180
31 years$3,819$2,704$1,875$1,278$859$152
32 years$3,660$2,558$1,749$1,174$777$128
33 years$3,510$2,423$1,633$1,080$703$108
34 years$3,370$2,296$1,526$994$637$92
35 years$3,237$2,178$1,427$915$577$77
36 years$3,113$2,067$1,335$843$522$65
37 years$2,995$1,963$1,249$776$474$55
38 years$2,884$1,866$1,170$715$429$47
39 years$2,779$1,774$1,096$660$389$39
40 years$2,680$1,688$1,027$608$353$33
41 years$2,585$1,607$963$561$320$28
42 years$2,495$1,530$904$518$291$24
43 years$2,410$1,458$848$478$264$20
44 years$2,329$1,390$796$442$239$17
45 years$2,251$1,325$747$408$217$14
46 years$2,178$1,264$702$377$197$12
47 years$2,107$1,207$660$348$179$10
48 years$2,040$1,152$620$322$163$9
49 years$1,975$1,100$583$297$148$7
50 years$1,914$1,051$548$275$134$6

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 $4,961 every year, while hoping to spend $26,718 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: 73/21/6 Blend
57$1,960,000$1,960,000$1,960,000$1,960,000
58$2,165,037$2,061,157$2,030,777$2,321,223
59$2,357,443$2,133,726$2,070,381$2,497,358
60$2,568,579$2,208,956$2,110,415$2,686,341
61$2,800,328$2,286,948$2,150,867$2,892,543
62$3,054,761$2,367,808$2,191,721$3,117,653
63$3,334,164$2,451,648$2,232,962$3,363,534
64$3,641,053$2,538,583$2,274,570$3,632,232
65$3,978,198$2,628,732$2,316,526$3,926,003
66$4,348,654$2,722,219$2,358,809$4,247,330
67$4,755,784$2,819,175$2,401,396$4,598,945
68$5,203,293$2,919,733$2,444,262$4,983,858
69$5,695,264$3,024,036$2,487,380$5,405,383
70$6,236,196$3,132,228$2,530,722$5,867,168
71$6,831,043$3,244,462$2,574,256$6,373,231
72$7,485,264$3,360,896$2,617,949$6,927,998
73$8,204,877$3,481,695$2,661,766$7,536,341
74$8,996,507$3,607,032$2,705,668$8,203,629
75$9,867,458$3,737,083$2,749,615$8,935,772
76$10,825,775$3,872,037$2,793,563$9,739,282
77$11,880,324$4,012,086$2,837,467$10,621,329
78$13,040,871$4,157,432$2,881,276$11,589,814
79$14,318,180$4,308,286$2,924,939$12,653,437
80$15,724,109$4,464,867$2,968,400$13,821,783
81$17,271,726$4,627,403$3,011,598$15,105,412
82$18,975,427$4,796,132$3,054,473$16,515,953
83$20,851,079$4,971,301$3,096,956$18,066,221
84$22,916,163$5,153,168$3,138,977$19,770,331
85$25,189,940$5,342,002$3,180,462$21,643,833
86$27,693,637$5,538,083$3,221,330$23,703,860
87$30,450,643$5,741,703$3,261,499$25,969,287
88$33,486,729$5,953,167$3,300,880$28,460,907
89$36,830,294$6,172,792$3,339,379$31,201,631
90$40,512,633$6,400,907$3,376,897$34,216,701
91$44,568,228$6,637,858$3,413,329$37,533,925
92$49,035,078$6,884,004$3,448,567$41,183,945
93$53,955,055$7,139,719$3,482,492$45,200,521
94$59,374,299$7,405,394$3,514,984$49,620,850
95$65,343,654$7,681,435$3,545,913$54,485,914
96$71,919,149$7,968,268$3,575,144$59,840,873
97$79,162,523$8,266,334$3,602,532$65,735,482
98$87,141,812$8,576,095$3,627,928$72,224,565
99$95,931,986$8,898,033$3,651,173$79,368,530
100$105,615,662$9,232,650$3,672,100$87,233,939