Can I retire at age 58 with 1,670,000?

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 $1,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$137,907$136,679$135,480$134,310$133,168$128,597
2 years$68,271$66,999$65,767$64,572$63,413$58,854
3 years$45,062$43,785$42,556$41,372$40,232$35,829
4 years$33,460$32,186$30,970$29,806$28,694$24,480
5 years$26,500$25,235$24,034$22,894$21,813$17,799
6 years$21,862$20,606$19,423$18,309$17,260$13,449
7 years$18,550$17,305$16,140$15,052$14,037$10,429
8 years$16,068$14,833$13,688$12,627$11,645$8,237
9 years$14,138$12,915$11,790$10,756$9,807$6,595
10 years$12,595$11,384$10,279$9,271$8,356$5,334
11 years$11,333$10,135$9,049$8,069$7,186$4,349
12 years$10,282$9,096$8,031$7,077$6,227$3,568
13 years$9,394$8,220$7,175$6,248$5,430$2,942
14 years$8,633$7,472$6,447$5,547$4,760$2,436
15 years$7,975$6,826$5,821$4,947$4,191$2,023
16 years$7,399$6,263$5,277$4,429$3,704$1,685
17 years$6,891$5,768$4,802$3,980$3,284$1,406
18 years$6,441$5,330$4,384$3,586$2,920$1,176
19 years$6,038$4,939$4,013$3,241$2,603$985
20 years$5,676$4,590$3,683$2,935$2,325$826
21 years$5,349$4,275$3,388$2,664$2,081$693
22 years$5,052$3,991$3,122$2,422$1,865$582
23 years$4,781$3,733$2,883$2,206$1,674$489
24 years$4,533$3,497$2,666$2,012$1,505$412
25 years$4,306$3,282$2,469$1,837$1,354$347
26 years$4,096$3,084$2,290$1,680$1,220$292
27 years$3,902$2,903$2,127$1,538$1,100$246
28 years$3,722$2,735$1,977$1,409$992$207
29 years$3,555$2,580$1,840$1,292$896$174
30 years$3,399$2,437$1,714$1,186$810$147
31 years$3,254$2,304$1,598$1,089$732$124
32 years$3,118$2,180$1,491$1,001$662$105
33 years$2,991$2,064$1,392$920$599$88
34 years$2,871$1,957$1,300$847$542$74
35 years$2,758$1,856$1,216$779$491$63
36 years$2,652$1,761$1,137$718$445$53
37 years$2,552$1,673$1,065$661$403$45
38 years$2,458$1,590$997$610$366$38
39 years$2,368$1,512$934$562$332$32
40 years$2,283$1,438$875$518$301$27
41 years$2,203$1,369$821$478$273$23
42 years$2,126$1,304$770$441$248$19
43 years$2,053$1,242$723$408$225$16
44 years$1,984$1,184$678$376$204$14
45 years$1,918$1,129$637$347$185$11
46 years$1,855$1,077$598$321$168$10
47 years$1,795$1,028$562$297$153$8
48 years$1,738$981$528$274$139$7
49 years$1,683$937$496$253$126$6
50 years$1,631$895$467$234$114$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,670,000, adding $5,531 every year, while hoping to spend $33,619 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: 44/47/9 Blend
57$1,670,000$1,670,000$1,670,000$1,670,000
58$1,846,045$1,757,535$1,731,650$1,922,293
59$1,998,571$1,807,884$1,753,890$2,026,084
60$2,165,529$1,859,573$1,775,748$2,134,635
61$2,348,353$1,912,633$1,797,177$2,251,519
62$2,548,627$1,967,094$1,818,124$2,377,512
63$2,768,092$2,022,986$1,838,536$2,513,469
64$3,008,667$2,080,342$1,858,356$2,660,331
65$3,272,465$2,139,193$1,877,525$2,819,133
66$3,561,813$2,199,570$1,895,979$2,991,012
67$3,879,274$2,261,505$1,913,651$3,177,222
68$4,227,673$2,325,032$1,930,470$3,379,141
69$4,610,118$2,390,181$1,946,364$3,598,286
70$5,030,037$2,456,986$1,961,254$3,836,327
71$5,491,202$2,525,480$1,975,057$4,095,102
72$5,997,771$2,595,696$1,987,689$4,376,637
73$6,554,325$2,667,665$1,999,057$4,683,159
74$7,165,907$2,741,422$2,009,066$5,017,121
75$7,838,076$2,816,999$2,017,617$5,381,227
76$8,576,956$2,894,428$2,024,603$5,778,451
77$9,389,293$2,973,742$2,029,914$6,212,070
78$10,282,518$3,054,973$2,033,434$6,685,694
79$11,264,822$3,138,153$2,035,041$7,203,298
80$12,345,226$3,223,315$2,034,607$7,769,259
81$13,533,669$3,310,487$2,031,997$8,388,401
82$14,841,105$3,399,703$2,027,070$9,066,036
83$16,279,599$3,490,990$2,019,678$9,808,016
84$17,862,448$3,584,378$2,009,667$10,620,788
85$19,604,301$3,679,896$1,996,875$11,511,454
86$21,521,299$3,777,570$1,981,129$12,487,839
87$23,631,228$3,877,428$1,962,254$13,558,563
88$25,953,685$3,979,493$1,940,060$14,733,123
89$28,510,262$4,083,790$1,914,354$16,021,983
90$31,324,753$4,190,340$1,884,929$17,436,672
91$34,423,375$4,299,164$1,851,572$18,989,891
92$37,835,017$4,410,281$1,814,057$20,695,638
93$41,591,511$4,523,706$1,772,150$22,569,334
94$45,727,933$4,639,456$1,725,605$24,627,970
95$50,282,934$4,757,540$1,674,164$26,890,270
96$55,299,103$4,877,970$1,617,559$29,376,864
97$60,823,372$5,000,751$1,555,507$32,110,487
98$66,907,455$5,125,887$1,487,716$35,116,186
99$73,608,337$5,253,377$1,413,876$38,421,567
100$80,988,814$5,383,219$1,333,667$42,057,044