Can I retire at age 58 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$123,869$122,765$121,689$120,638$119,612$118,020
2 years$61,321$60,179$59,072$57,999$56,958$55,356
3 years$40,475$39,328$38,224$37,161$36,137$34,575
4 years$30,053$28,910$27,817$26,772$25,773$24,264
5 years$23,802$22,666$21,587$20,564$19,592$18,140
6 years$19,636$18,508$17,446$16,445$15,503$14,109
7 years$16,662$15,543$14,497$13,520$12,608$11,273
8 years$14,432$13,323$12,295$11,342$10,459$9,184
9 years$12,698$11,600$10,590$9,661$8,808$7,591
10 years$11,312$10,225$9,232$8,328$7,505$6,345
11 years$10,179$9,103$8,128$7,247$6,455$5,351
12 years$9,236$8,170$7,213$6,357$5,593$4,545
13 years$8,438$7,384$6,445$5,612$4,878$3,883
14 years$7,754$6,711$5,791$4,982$4,276$3,333
15 years$7,163$6,131$5,228$4,443$3,765$2,873
16 years$6,646$5,625$4,740$3,978$3,327$2,485
17 years$6,190$5,181$4,313$3,574$2,950$2,155
18 years$5,785$4,787$3,937$3,221$2,623$1,873
19 years$5,423$4,437$3,605$2,911$2,338$1,632
20 years$5,098$4,123$3,308$2,636$2,088$1,424
21 years$4,804$3,840$3,043$2,393$1,869$1,245
22 years$4,537$3,585$2,804$2,175$1,675$1,090
23 years$4,294$3,353$2,589$1,981$1,504$955
24 years$4,072$3,141$2,395$1,807$1,352$837
25 years$3,867$2,948$2,218$1,650$1,216$735
26 years$3,679$2,770$2,057$1,509$1,096$646
27 years$3,505$2,607$1,910$1,381$988$568
28 years$3,343$2,457$1,776$1,265$891$499
29 years$3,193$2,318$1,652$1,160$805$440
30 years$3,053$2,189$1,539$1,065$727$387
31 years$2,923$2,069$1,435$978$657$341
32 years$2,801$1,958$1,339$899$595$300
33 years$2,686$1,854$1,250$827$538$265
34 years$2,579$1,757$1,168$761$487$233
35 years$2,478$1,667$1,092$700$441$206
36 years$2,382$1,582$1,022$645$400$182
37 years$2,292$1,503$956$594$362$160
38 years$2,207$1,428$895$548$329$141
39 years$2,127$1,358$839$505$298$125
40 years$2,051$1,292$786$466$270$110
41 years$1,978$1,230$737$430$245$97
42 years$1,910$1,171$692$397$222$86
43 years$1,844$1,116$649$366$202$76
44 years$1,782$1,064$609$338$183$67
45 years$1,723$1,014$572$312$166$59
46 years$1,666$968$537$288$151$52
47 years$1,613$923$505$266$137$46
48 years$1,561$882$474$246$125$41
49 years$1,512$842$446$227$113$36
50 years$1,465$804$419$210$103$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,500,000, adding $3,742 every year, while hoping to spend $51,419 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: 48/30/22 Blend
57$1,500,000$1,500,000$1,500,000$1,500,000
58$1,656,860$1,577,360$1,554,110$1,725,892
59$1,771,150$1,599,941$1,551,463$1,797,011
60$1,895,375$1,621,905$1,547,004$1,868,742
61$2,030,493$1,643,168$1,540,619$1,945,580
62$2,177,559$1,663,640$1,532,185$2,028,027
63$2,337,734$1,683,223$1,521,578$2,116,639
64$2,512,297$1,701,814$1,508,665$2,212,028
65$2,702,652$1,719,304$1,493,306$2,314,874
66$2,910,348$1,735,575$1,475,357$2,425,924
67$3,137,088$1,750,503$1,454,666$2,546,005
68$3,384,747$1,763,953$1,431,073$2,676,032
69$3,655,388$1,775,784$1,404,411$2,817,013
70$3,951,285$1,785,845$1,374,506$2,970,064
71$4,274,939$1,793,975$1,341,175$3,136,417
72$4,629,106$1,800,002$1,304,228$3,317,431
73$5,016,819$1,803,746$1,263,463$3,514,608
74$5,441,418$1,805,013$1,218,673$3,729,607
75$5,906,582$1,803,598$1,169,638$3,964,261
76$6,416,362$1,799,283$1,116,129$4,220,591
77$6,975,219$1,791,837$1,057,908$4,500,831
78$7,588,069$1,781,014$994,725$4,807,446
79$8,260,322$1,766,554$926,319$5,143,158
80$8,997,941$1,748,182$852,417$5,510,971
81$9,807,492$1,725,603$772,734$5,914,203
82$10,696,207$1,698,509$686,971$6,356,514
83$11,672,055$1,666,570$594,819$6,841,944
84$12,743,811$1,629,438$495,952$7,374,953
85$13,921,144$1,586,745$390,031$7,960,462
86$15,214,705$1,538,100$276,701$8,603,902
87$16,636,228$1,483,090$155,594$9,311,266
88$18,198,640$1,421,278$26,323$10,089,166
89$19,916,181$1,352,201$0$10,944,899
90$21,804,542$1,275,369$0$11,912,718
91$23,881,008$1,190,265$0$12,983,599
92$26,164,625$1,096,342$0$14,161,256
93$28,676,374$993,020$0$15,456,606
94$31,439,375$879,689$0$16,881,685
95$34,479,100$755,703$0$18,449,761
96$37,823,613$620,377$0$20,175,465
97$41,503,838$472,991$0$22,074,926
98$45,553,845$312,784$0$24,165,925
99$50,011,176$138,949$0$26,468,066
100$54,917,197$0$0$29,002,961