Can I retire at age 58 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$135,430$134,223$133,046$131,898$130,776$127,822
2 years$67,044$65,796$64,586$63,412$62,274$59,314
3 years$44,252$42,998$41,791$40,629$39,509$36,635
4 years$32,858$31,608$30,413$29,271$28,178$25,413
5 years$26,024$24,781$23,602$22,483$21,421$18,771
6 years$21,469$20,236$19,074$17,980$16,950$14,419
7 years$18,217$16,994$15,850$14,782$13,784$11,373
8 years$15,779$14,567$13,442$12,400$11,436$9,143
9 years$13,884$12,683$11,578$10,562$9,630$7,454
10 years$12,368$11,180$10,094$9,105$8,206$6,144
11 years$11,129$9,953$8,887$7,924$7,057$5,107
12 years$10,098$8,933$7,887$6,950$6,116$4,273
13 years$9,225$8,073$7,046$6,136$5,333$3,596
14 years$8,478$7,338$6,331$5,447$4,675$3,039
15 years$7,831$6,703$5,716$4,858$4,116$2,578
16 years$7,266$6,150$5,182$4,350$3,638$2,194
17 years$6,767$5,664$4,716$3,908$3,225$1,872
18 years$6,325$5,234$4,305$3,522$2,868$1,600
19 years$5,929$4,851$3,941$3,182$2,556$1,371
20 years$5,574$4,507$3,617$2,882$2,283$1,176
21 years$5,253$4,199$3,327$2,616$2,043$1,010
22 years$4,961$3,919$3,066$2,378$1,832$868
23 years$4,695$3,666$2,831$2,166$1,644$748
24 years$4,452$3,434$2,618$1,976$1,478$644
25 years$4,228$3,223$2,425$1,804$1,330$555
26 years$4,022$3,029$2,249$1,650$1,198$479
27 years$3,832$2,851$2,088$1,510$1,080$413
28 years$3,655$2,686$1,941$1,383$974$357
29 years$3,491$2,534$1,807$1,269$880$308
30 years$3,338$2,393$1,683$1,164$795$266
31 years$3,196$2,262$1,569$1,069$719$230
32 years$3,062$2,141$1,464$983$650$199
33 years$2,937$2,027$1,367$904$588$172
34 years$2,819$1,921$1,277$831$533$149
35 years$2,709$1,822$1,194$765$483$129
36 years$2,605$1,730$1,117$705$437$111
37 years$2,506$1,643$1,045$650$396$96
38 years$2,413$1,561$979$599$359$83
39 years$2,325$1,485$917$552$326$72
40 years$2,242$1,412$860$509$295$62
41 years$2,163$1,345$806$470$268$54
42 years$2,088$1,281$756$434$243$47
43 years$2,017$1,220$710$400$221$40
44 years$1,949$1,163$666$370$200$35
45 years$1,884$1,109$625$341$182$30
46 years$1,822$1,058$587$315$165$26
47 years$1,763$1,010$552$291$150$23
48 years$1,707$964$519$269$136$20
49 years$1,653$920$487$249$124$17
50 years$1,601$879$458$230$112$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,640,000, adding $6,325 every year, while hoping to spend $55,216 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: 39/38/23 Blend
57$1,640,000$1,640,000$1,640,000$1,640,000
58$1,813,804$1,726,884$1,701,464$1,871,923
59$1,940,063$1,752,752$1,699,714$1,940,396
60$2,077,349$1,778,037$1,696,054$2,008,731
61$2,226,730$1,802,652$1,690,363$2,081,517
62$2,389,379$1,826,504$1,682,512$2,159,192
63$2,566,586$1,849,494$1,672,368$2,242,239
64$2,759,774$1,871,515$1,659,788$2,331,194
65$2,970,506$1,892,454$1,644,626$2,426,648
66$3,200,503$1,912,190$1,626,727$2,529,256
67$3,451,661$1,930,594$1,605,928$2,639,743
68$3,726,065$1,947,528$1,582,062$2,758,910
69$4,026,012$1,962,845$1,554,949$2,887,644
70$4,354,030$1,976,389$1,524,405$3,026,925
71$4,712,903$1,987,994$1,490,234$3,177,837
72$5,105,696$1,997,483$1,452,234$3,341,578
73$5,535,785$2,004,667$1,410,191$3,519,474
74$6,006,885$2,009,346$1,363,883$3,712,990
75$6,523,091$2,011,307$1,313,077$3,923,745
76$7,088,910$2,010,325$1,257,529$4,153,528
77$7,709,308$2,006,160$1,196,984$4,404,318
78$8,389,751$1,998,556$1,131,178$4,678,299
79$9,136,264$1,987,244$1,059,831$4,977,887
80$9,955,481$1,971,936$982,652$5,305,750
81$10,854,707$1,952,328$899,339$5,664,834
82$11,841,994$1,928,099$809,573$6,058,396
83$12,926,207$1,898,906$713,024$6,490,032
84$14,117,115$1,864,386$609,344$6,963,712
85$15,425,476$1,824,157$498,173$7,483,823
86$16,863,146$1,777,812$379,133$8,055,208
87$18,443,182$1,724,920$251,829$8,683,215
88$20,179,972$1,665,027$115,851$9,373,746
89$22,089,366$1,597,649$0$10,133,321
90$24,188,825$1,522,278$0$10,976,316
91$26,497,589$1,438,373$0$11,934,300
92$29,036,854$1,345,365$0$12,987,694
93$31,829,975$1,242,649$0$14,146,293
94$34,902,681$1,129,588$0$15,420,901
95$38,283,324$1,005,508$0$16,823,432
96$42,003,141$869,695$0$18,367,028
97$46,096,549$721,398$0$20,066,178
98$50,601,471$559,820$0$21,936,863
99$55,559,691$384,122$0$23,996,706
100$61,017,252$193,416$0$26,265,139