Can I retire at age 58 with 1,620,000?

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$133,778$132,586$131,424$130,289$129,181$125,600
2 years$66,227$64,993$63,798$62,639$61,515$57,934
3 years$43,713$42,474$41,282$40,133$39,028$35,558
4 years$32,458$31,223$30,042$28,914$27,835$24,504
5 years$25,707$24,479$23,314$22,209$21,160$17,977
6 years$21,207$19,989$18,841$17,760$16,743$13,711
7 years$17,995$16,787$15,657$14,602$13,616$10,736
8 years$15,586$14,389$13,279$12,249$11,296$8,565
9 years$13,714$12,528$11,437$10,434$9,513$6,928
10 years$12,217$11,043$9,971$8,994$8,106$5,664
11 years$10,994$9,831$8,778$7,827$6,971$4,669
12 years$9,974$8,824$7,790$6,866$6,041$3,874
13 years$9,113$7,974$6,960$6,061$5,268$3,232
14 years$8,375$7,248$6,254$5,381$4,618$2,707
15 years$7,736$6,622$5,646$4,798$4,066$2,276
16 years$7,177$6,075$5,119$4,297$3,593$1,919
17 years$6,685$5,595$4,658$3,860$3,186$1,622
18 years$6,248$5,170$4,252$3,479$2,833$1,373
19 years$5,857$4,791$3,893$3,144$2,525$1,165
20 years$5,506$4,452$3,573$2,847$2,255$989
21 years$5,189$4,147$3,286$2,584$2,018$841
22 years$4,900$3,871$3,029$2,349$1,809$716
23 years$4,638$3,621$2,797$2,140$1,624$610
24 years$4,397$3,392$2,586$1,951$1,460$520
25 years$4,177$3,184$2,395$1,782$1,314$444
26 years$3,973$2,992$2,222$1,630$1,183$379
27 years$3,785$2,816$2,063$1,492$1,067$324
28 years$3,611$2,653$1,918$1,367$963$276
29 years$3,449$2,503$1,785$1,253$869$236
30 years$3,298$2,364$1,662$1,150$785$202
31 years$3,157$2,235$1,550$1,056$710$173
32 years$3,025$2,115$1,446$971$642$148
33 years$2,901$2,003$1,350$893$581$126
34 years$2,785$1,898$1,261$821$526$108
35 years$2,676$1,800$1,179$756$477$92
36 years$2,573$1,709$1,103$696$432$79
37 years$2,476$1,623$1,033$642$391$68
38 years$2,384$1,542$967$591$355$58
39 years$2,297$1,467$906$545$322$50
40 years$2,215$1,395$849$503$292$42
41 years$2,137$1,328$796$464$265$36
42 years$2,062$1,265$747$428$240$31
43 years$1,992$1,205$701$395$218$27
44 years$1,925$1,149$658$365$198$23
45 years$1,861$1,095$618$337$180$19
46 years$1,800$1,045$580$311$163$17
47 years$1,742$997$545$288$148$14
48 years$1,686$952$512$266$135$12
49 years$1,633$909$481$246$122$10
50 years$1,582$868$453$227$111$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,620,000, adding $6,088 every year, while hoping to spend $32,321 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: 62/14/24 Blend
57$1,620,000$1,620,000$1,620,000$1,620,000
58$1,791,520$1,705,660$1,680,550$1,890,884
59$1,939,865$1,754,848$1,702,459$2,008,076
60$2,102,259$1,805,363$1,724,019$2,131,881
61$2,280,100$1,857,236$1,745,183$2,266,343
62$2,474,927$1,910,498$1,765,905$2,412,509
63$2,688,439$1,965,181$1,786,131$2,571,529
64$2,922,502$2,021,317$1,805,809$2,744,671
65$3,179,174$2,078,939$1,824,880$2,933,332
66$3,460,722$2,138,079$1,843,286$3,139,050
67$3,769,642$2,198,771$1,860,963$3,363,519
68$4,108,684$2,261,049$1,877,843$3,608,608
69$4,480,876$2,324,947$1,893,857$3,876,372
70$4,889,554$2,390,498$1,908,931$4,169,079
71$5,338,394$2,457,738$1,922,985$4,489,224
72$5,831,444$2,526,701$1,935,939$4,839,559
73$6,373,164$2,597,422$1,947,705$5,223,115
74$6,968,467$2,669,936$1,958,194$5,643,231
75$7,622,766$2,744,278$1,967,308$6,103,588
76$8,342,024$2,820,484$1,974,949$6,608,240
77$9,132,811$2,898,588$1,981,011$7,161,655
78$10,002,365$2,978,626$1,985,382$7,768,756
79$10,958,662$3,060,634$1,987,947$8,434,968
80$12,010,486$3,144,645$1,988,584$9,166,269
81$13,167,518$3,230,696$1,987,164$9,969,248
82$14,440,424$3,318,820$1,983,554$10,851,162
83$15,840,957$3,409,051$1,977,612$11,820,012
84$17,382,063$3,501,423$1,969,191$12,884,612
85$19,078,010$3,595,969$1,958,135$14,054,678
86$20,944,517$3,692,722$1,944,283$15,340,913
87$22,998,905$3,791,713$1,927,464$16,755,115
88$25,260,260$3,892,973$1,907,500$18,310,284
89$27,749,609$3,996,532$1,884,205$20,020,745
90$30,490,126$4,102,418$1,857,382$21,902,288
91$33,507,342$4,210,660$1,826,828$23,972,310
92$36,829,392$4,321,283$1,792,327$26,249,984
93$40,487,277$4,434,312$1,753,657$28,756,440
94$44,515,156$4,549,771$1,710,581$31,514,963
95$48,950,671$4,667,679$1,662,855$34,551,213
96$53,835,300$4,788,056$1,610,222$37,893,470
97$59,214,749$4,910,919$1,552,412$41,572,896
98$65,139,382$5,036,282$1,489,146$45,623,835
99$71,664,696$5,164,157$1,420,130$50,084,135
100$78,851,847$5,294,553$1,345,056$54,995,505