Can I retire at age 58 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$163,507$162,050$160,629$159,242$157,888$154,574
2 years$80,944$79,436$77,975$76,559$75,185$71,861
3 years$53,427$51,913$50,455$49,052$47,700$44,471
4 years$39,671$38,161$36,718$35,339$34,020$30,911
5 years$31,419$29,919$28,495$27,144$25,862$22,880
6 years$25,920$24,431$23,028$21,707$20,463$17,614
7 years$21,994$20,517$19,137$17,847$16,642$13,924
8 years$19,050$17,587$16,229$14,971$13,806$11,219
9 years$16,762$15,313$13,978$12,752$11,627$9,169
10 years$14,932$13,497$12,187$10,992$9,907$7,576
11 years$13,437$12,016$10,729$9,567$8,520$6,313
12 years$12,191$10,785$9,522$8,391$7,383$5,297
13 years$11,138$9,746$8,507$7,408$6,438$4,469
14 years$10,236$8,859$7,644$6,576$5,644$3,788
15 years$9,455$8,093$6,901$5,865$4,969$3,222
16 years$8,772$7,425$6,257$5,251$4,392$2,750
17 years$8,170$6,838$5,693$4,718$3,894$2,353
18 years$7,636$6,319$5,197$4,252$3,463$2,017
19 years$7,159$5,856$4,758$3,842$3,086$1,733
20 years$6,729$5,442$4,367$3,480$2,757$1,491
21 years$6,342$5,069$4,016$3,158$2,467$1,285
22 years$5,989$4,732$3,702$2,871$2,211$1,108
23 years$5,668$4,425$3,418$2,615$1,985$957
24 years$5,375$4,146$3,161$2,385$1,784$827
25 years$5,105$3,891$2,928$2,178$1,605$715
26 years$4,856$3,657$2,715$1,992$1,446$619
27 years$4,626$3,442$2,521$1,823$1,304$536
28 years$4,413$3,243$2,344$1,670$1,176$464
29 years$4,215$3,059$2,181$1,532$1,062$402
30 years$4,030$2,889$2,032$1,406$960$349
31 years$3,858$2,731$1,894$1,291$868$302
32 years$3,697$2,584$1,767$1,186$785$262
33 years$3,546$2,448$1,650$1,091$710$227
34 years$3,404$2,320$1,542$1,004$643$197
35 years$3,270$2,200$1,441$924$583$171
36 years$3,145$2,088$1,348$851$528$149
37 years$3,026$1,983$1,262$784$478$129
38 years$2,914$1,885$1,182$723$434$112
39 years$2,808$1,792$1,107$666$393$97
40 years$2,707$1,705$1,038$615$357$84
41 years$2,612$1,623$973$567$324$73
42 years$2,521$1,546$913$523$294$64
43 years$2,435$1,473$857$483$267$55
44 years$2,353$1,404$804$446$242$48
45 years$2,274$1,339$755$412$220$42
46 years$2,200$1,277$709$381$199$36
47 years$2,129$1,219$666$352$181$31
48 years$2,060$1,164$626$325$164$27
49 years$1,995$1,111$588$300$149$24
50 years$1,933$1,061$553$278$136$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,980,000, adding $6,200 every year, while hoping to spend $25,083 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: 90/5/5 Blend
57$1,980,000$1,980,000$1,980,000$1,980,000
58$2,188,355$2,083,415$2,052,725$2,385,147
59$2,384,879$2,158,815$2,094,803$2,589,362
60$2,600,608$2,237,068$2,137,451$2,809,711
61$2,837,474$2,318,288$2,180,659$3,051,211
62$3,097,606$2,402,594$2,224,421$3,315,979
63$3,383,349$2,490,108$2,268,726$3,606,346
64$3,697,286$2,580,958$2,313,563$3,924,882
65$4,042,263$2,675,279$2,358,921$4,274,415
66$4,421,414$2,773,208$2,404,786$4,658,062
67$4,838,195$2,874,892$2,451,143$5,079,254
68$5,296,410$2,980,481$2,497,975$5,541,773
69$5,800,251$3,090,132$2,545,265$6,049,784
70$6,354,338$3,204,009$2,592,993$6,607,877
71$6,963,760$3,322,285$2,641,137$7,221,106
72$7,634,122$3,445,136$2,689,674$7,895,040
73$8,371,604$3,572,748$2,738,579$8,635,815
74$9,183,010$3,705,316$2,787,824$9,450,191
75$10,075,842$3,843,041$2,837,381$10,345,614
76$11,058,362$3,986,134$2,887,217$11,330,290
77$12,139,674$4,134,814$2,937,298$12,413,258
78$13,329,811$4,289,310$2,987,588$13,604,479
79$14,639,826$4,449,861$3,038,047$14,914,926
80$16,081,900$4,616,716$3,088,633$16,356,691
81$17,669,453$4,790,134$3,139,301$17,943,095
82$19,417,273$4,970,386$3,190,004$19,688,816
83$21,341,655$5,157,756$3,240,689$21,610,030
84$23,460,555$5,352,536$3,291,303$23,724,556
85$25,793,757$5,555,036$3,341,787$26,052,030
86$28,363,062$5,765,575$3,392,079$28,614,090
87$31,192,495$5,984,488$3,442,114$31,434,575
88$34,308,526$6,212,125$3,491,821$34,539,755
89$37,740,326$6,448,849$3,541,128$37,958,576
90$41,520,038$6,695,041$3,589,954$41,722,935
91$45,683,081$6,951,098$3,638,217$45,867,977
92$50,268,487$7,217,434$3,685,829$50,432,430
93$55,319,265$7,494,481$3,732,697$55,458,969
94$60,882,810$7,782,689$3,778,722$60,994,618
95$67,011,347$8,082,531$3,823,799$67,091,196
96$73,762,426$8,394,498$3,867,819$73,805,801
97$81,199,468$8,719,102$3,910,665$81,201,352
98$89,392,356$9,056,881$3,952,214$89,347,184
99$98,418,101$9,408,392$3,992,338$98,319,698
100$108,361,565$9,774,221$4,030,899$108,203,085