Can I retire at age 58 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$125,520$124,402$123,311$122,247$121,207$119,544
2 years$62,139$60,981$59,860$58,772$57,718$56,045
3 years$41,014$39,852$38,733$37,656$36,618$34,988
4 years$30,454$29,295$28,188$27,129$26,117$24,541
5 years$24,120$22,968$21,875$20,838$19,853$18,338
6 years$19,898$18,755$17,678$16,664$15,709$14,255
7 years$16,884$15,751$14,691$13,700$12,776$11,384
8 years$14,624$13,501$12,459$11,493$10,599$9,268
9 years$12,868$11,755$10,731$9,789$8,926$7,656
10 years$11,463$10,362$9,355$8,439$7,605$6,396
11 years$10,315$9,224$8,236$7,344$6,541$5,391
12 years$9,359$8,279$7,310$6,442$5,668$4,576
13 years$8,550$7,482$6,531$5,687$4,943$3,907
14 years$7,858$6,801$5,868$5,048$4,333$3,351
15 years$7,258$6,213$5,298$4,502$3,815$2,887
16 years$6,734$5,700$4,803$4,031$3,372$2,495
17 years$6,272$5,250$4,371$3,622$2,989$2,162
18 years$5,862$4,851$3,990$3,264$2,658$1,878
19 years$5,495$4,496$3,653$2,950$2,369$1,635
20 years$5,166$4,178$3,352$2,671$2,116$1,426
21 years$4,868$3,891$3,083$2,424$1,894$1,245
22 years$4,598$3,632$2,842$2,204$1,698$1,089
23 years$4,352$3,397$2,624$2,008$1,524$954
24 years$4,126$3,183$2,427$1,831$1,370$836
25 years$3,919$2,987$2,248$1,672$1,232$733
26 years$3,728$2,807$2,084$1,529$1,110$644
27 years$3,551$2,642$1,936$1,399$1,001$565
28 years$3,388$2,490$1,799$1,282$903$497
29 years$3,236$2,349$1,675$1,176$815$437
30 years$3,094$2,218$1,560$1,079$737$384
31 years$2,962$2,097$1,454$991$666$338
32 years$2,838$1,984$1,357$911$603$298
33 years$2,722$1,879$1,267$838$545$262
34 years$2,613$1,781$1,184$771$494$231
35 years$2,511$1,689$1,107$709$447$204
36 years$2,414$1,603$1,035$653$405$179
37 years$2,323$1,523$969$602$367$158
38 years$2,237$1,447$907$555$333$139
39 years$2,155$1,376$850$512$302$123
40 years$2,078$1,309$797$472$274$108
41 years$2,005$1,246$747$435$248$96
42 years$1,935$1,187$701$402$225$84
43 years$1,869$1,131$658$371$205$74
44 years$1,806$1,078$617$342$186$66
45 years$1,746$1,028$580$316$169$58
46 years$1,689$981$544$292$153$51
47 years$1,634$936$511$270$139$45
48 years$1,582$893$481$249$126$40
49 years$1,532$853$452$231$115$35
50 years$1,484$815$425$213$104$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,520,000, adding $4,843 every year, while hoping to spend $51,202 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: 80/14/6 Blend
57$1,520,000$1,520,000$1,520,000$1,520,000
58$1,680,036$1,599,476$1,575,916$1,813,289
59$1,796,921$1,623,371$1,574,230$1,925,120
60$1,924,012$1,646,722$1,570,772$2,040,534
61$2,062,296$1,669,447$1,565,428$2,165,612
62$2,212,860$1,691,459$1,558,080$2,301,291
63$2,376,898$1,712,666$1,548,601$2,448,604
64$2,555,725$1,732,970$1,536,863$2,608,687
65$2,750,788$1,752,265$1,522,727$2,782,793
66$2,963,680$1,770,438$1,506,051$2,972,301
67$3,196,156$1,787,370$1,486,683$3,178,730
68$3,450,145$1,802,932$1,464,468$3,403,753
69$3,727,771$1,816,988$1,439,240$3,649,214
70$4,031,376$1,829,392$1,410,826$3,917,144
71$4,363,535$1,839,991$1,379,047$4,209,779
72$4,727,084$1,848,619$1,343,714$4,529,585
73$5,125,147$1,855,101$1,304,629$4,879,278
74$5,561,163$1,859,252$1,261,585$5,261,850
75$6,038,920$1,860,874$1,214,367$5,680,598
76$6,562,590$1,859,757$1,162,748$6,139,155
77$7,136,766$1,855,677$1,106,492$6,641,525
78$7,766,510$1,848,399$1,045,353$7,192,118
79$8,457,394$1,837,670$979,072$7,795,795
80$9,215,557$1,823,225$907,380$8,457,914
81$10,047,761$1,804,780$829,995$9,184,375
82$10,961,455$1,782,037$746,622$9,981,685
83$11,964,844$1,754,677$656,954$10,857,011
84$13,066,965$1,722,364$560,670$11,818,252
85$14,277,777$1,684,741$457,434$12,874,114
86$15,608,249$1,641,432$346,896$14,034,190
87$17,070,463$1,592,035$228,690$15,309,053
88$18,677,735$1,536,129$102,435$16,710,354
89$20,444,729$1,473,264$0$18,250,933
90$22,387,605$1,402,969$0$19,947,008
91$24,524,167$1,324,740$0$21,819,240
92$26,874,028$1,238,048$0$23,878,278
93$29,458,800$1,142,333$0$26,143,092
94$32,302,292$1,037,003$0$28,634,586
95$35,430,740$921,429$0$31,375,797
96$38,873,048$794,952$0$34,392,110
97$42,661,065$656,871$0$37,711,501
98$46,829,883$506,447$0$41,364,799
99$51,418,168$342,900$0$45,385,976
100$56,468,525$165,406$0$49,812,473