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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.6%
1 years$163,507$162,050$160,629$159,242$157,888$155,529
2 years$80,944$79,436$77,975$76,559$75,185$72,813
3 years$53,427$51,913$50,455$49,052$47,700$45,390
4 years$39,671$38,161$36,718$35,339$34,020$31,789
5 years$31,419$29,919$28,495$27,144$25,862$23,716
6 years$25,920$24,431$23,028$21,707$20,463$18,406
7 years$21,994$20,517$19,137$17,847$16,642$14,674
8 years$19,050$17,587$16,229$14,971$13,806$11,927
9 years$16,762$15,313$13,978$12,752$11,627$9,835
10 years$14,932$13,497$12,187$10,992$9,907$8,201
11 years$13,437$12,016$10,729$9,567$8,520$6,899
12 years$12,191$10,785$9,522$8,391$7,383$5,845
13 years$11,138$9,746$8,507$7,408$6,438$4,980
14 years$10,236$8,859$7,644$6,576$5,644$4,264
15 years$9,455$8,093$6,901$5,865$4,969$3,665
16 years$8,772$7,425$6,257$5,251$4,392$3,161
17 years$8,170$6,838$5,693$4,718$3,894$2,733
18 years$7,636$6,319$5,197$4,252$3,463$2,369
19 years$7,159$5,856$4,758$3,842$3,086$2,058
20 years$6,729$5,442$4,367$3,480$2,757$1,791
21 years$6,342$5,069$4,016$3,158$2,467$1,561
22 years$5,989$4,732$3,702$2,871$2,211$1,362
23 years$5,668$4,425$3,418$2,615$1,985$1,190
24 years$5,375$4,146$3,161$2,385$1,784$1,040
25 years$5,105$3,891$2,928$2,178$1,605$910
26 years$4,856$3,657$2,715$1,992$1,446$797
27 years$4,626$3,442$2,521$1,823$1,304$699
28 years$4,413$3,243$2,344$1,670$1,176$613
29 years$4,215$3,059$2,181$1,532$1,062$537
30 years$4,030$2,889$2,032$1,406$960$472
31 years$3,858$2,731$1,894$1,291$868$414
32 years$3,697$2,584$1,767$1,186$785$364
33 years$3,546$2,448$1,650$1,091$710$319
34 years$3,404$2,320$1,542$1,004$643$281
35 years$3,270$2,200$1,441$924$583$247
36 years$3,145$2,088$1,348$851$528$217
37 years$3,026$1,983$1,262$784$478$191
38 years$2,914$1,885$1,182$723$434$168
39 years$2,808$1,792$1,107$666$393$147
40 years$2,707$1,705$1,038$615$357$130
41 years$2,612$1,623$973$567$324$114
42 years$2,521$1,546$913$523$294$100
43 years$2,435$1,473$857$483$267$88
44 years$2,353$1,404$804$446$242$78
45 years$2,274$1,339$755$412$220$68
46 years$2,200$1,277$709$381$199$60
47 years$2,129$1,219$666$352$181$53
48 years$2,060$1,164$626$325$164$47
49 years$1,995$1,111$588$300$149$41
50 years$1,933$1,061$553$278$136$36

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 $4,780 every year, while hoping to spend $46,791 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: 82/11/7 Blend
57$1,980,000$1,980,000$1,980,000$1,980,000
58$2,186,891$2,081,951$2,051,261$2,364,346
59$2,360,168$2,134,181$2,070,193$2,533,323
60$2,549,552$2,187,402$2,088,190$2,712,044
61$2,756,635$2,241,614$2,105,174$2,906,804
62$2,983,172$2,296,813$2,121,057$3,119,183
63$3,231,095$2,352,996$2,135,752$3,350,920
64$3,502,530$2,410,157$2,149,163$3,603,928
65$3,799,821$2,468,287$2,161,193$3,880,317
66$4,125,546$2,527,376$2,171,736$4,182,409
67$4,482,546$2,587,413$2,180,684$4,512,762
68$4,873,951$2,648,381$2,187,922$4,874,193
69$5,303,206$2,710,264$2,193,330$5,269,807
70$5,774,107$2,773,040$2,196,780$5,703,020
71$6,290,834$2,836,687$2,198,140$6,177,599
72$6,857,991$2,901,177$2,197,270$6,697,691
73$7,480,651$2,966,480$2,194,024$7,267,867
74$8,164,402$3,032,562$2,188,248$7,893,160
75$8,915,399$3,099,385$2,179,781$8,579,117
76$9,740,421$3,166,906$2,168,456$9,331,847
77$10,646,938$3,235,079$2,154,093$10,158,083
78$11,643,179$3,303,852$2,136,509$11,065,240
79$12,738,211$3,373,167$2,115,509$12,061,492
80$13,942,019$3,442,963$2,090,889$13,155,840
81$15,265,607$3,513,171$2,062,437$14,358,205
82$16,721,100$3,583,717$2,029,929$15,679,518
83$18,321,851$3,654,518$1,993,131$17,131,822
84$20,082,579$3,725,488$1,951,799$18,728,386
85$22,019,495$3,796,531$1,905,678$20,483,833
86$24,150,465$3,867,541$1,854,499$22,414,275
87$26,495,170$3,938,409$1,797,983$24,537,464
88$29,075,298$4,009,011$1,735,836$26,872,963
89$31,914,743$4,079,218$1,667,752$29,442,328
90$35,039,836$4,148,889$1,593,411$32,269,311
91$38,479,587$4,217,873$1,512,477$35,380,088
92$42,265,962$4,286,005$1,424,602$38,803,498
93$46,434,183$4,353,112$1,329,419$42,571,325
94$51,023,060$4,419,005$1,226,545$46,718,591
95$56,075,360$4,483,484$1,115,582$51,283,888
96$61,638,205$4,546,333$996,112$56,309,744
97$67,763,519$4,607,321$867,700$61,843,022
98$74,508,520$4,666,201$729,889$67,935,364
99$81,936,253$4,722,709$582,205$74,643,678
100$90,116,193$4,776,564$424,151$82,030,674