Can I retire at age 58 with 1,690,000?

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 $1,690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$139,559$138,316$137,103$135,919$134,763$129,518
2 years$69,088$67,802$66,555$65,346$64,173$58,952
3 years$45,601$44,309$43,065$41,868$40,714$35,682
4 years$33,860$32,572$31,341$30,163$29,037$24,232
5 years$26,817$25,537$24,322$23,168$22,074$17,508
6 years$22,124$20,853$19,655$18,528$17,466$13,142
7 years$18,772$17,512$16,334$15,233$14,205$10,121
8 years$16,260$15,011$13,852$12,778$11,784$7,937
9 years$14,307$13,070$11,931$10,884$9,924$6,308
10 years$12,745$11,520$10,402$9,382$8,456$5,064
11 years$11,469$10,256$9,157$8,166$7,272$4,097
12 years$10,405$9,205$8,127$7,162$6,302$3,334
13 years$9,507$8,319$7,261$6,323$5,495$2,727
14 years$8,737$7,562$6,524$5,613$4,817$2,239
15 years$8,070$6,908$5,890$5,006$4,241$1,844
16 years$7,487$6,338$5,340$4,482$3,749$1,522
17 years$6,974$5,837$4,860$4,027$3,324$1,259
18 years$6,518$5,393$4,436$3,629$2,955$1,044
19 years$6,110$4,999$4,061$3,279$2,634$866
20 years$5,744$4,645$3,727$2,970$2,353$719
21 years$5,413$4,327$3,428$2,696$2,106$598
22 years$5,112$4,039$3,160$2,451$1,887$498
23 years$4,838$3,777$2,917$2,232$1,694$415
24 years$4,587$3,539$2,698$2,036$1,523$345
25 years$4,357$3,321$2,499$1,859$1,370$288
26 years$4,145$3,121$2,318$1,700$1,234$240
27 years$3,949$2,938$2,152$1,556$1,113$200
28 years$3,767$2,768$2,001$1,426$1,004$167
29 years$3,598$2,611$1,862$1,307$907$139
30 years$3,440$2,466$1,734$1,200$819$116
31 years$3,293$2,331$1,617$1,102$741$97
32 years$3,156$2,206$1,508$1,013$670$81
33 years$3,027$2,089$1,408$931$606$68
34 years$2,905$1,980$1,316$857$549$57
35 years$2,791$1,878$1,230$789$497$47
36 years$2,684$1,782$1,151$726$451$39
37 years$2,583$1,693$1,077$669$408$33
38 years$2,487$1,609$1,009$617$370$28
39 years$2,396$1,530$945$569$336$23
40 years$2,310$1,456$886$525$304$19
41 years$2,229$1,386$831$484$276$16
42 years$2,152$1,320$779$447$251$13
43 years$2,078$1,257$731$412$227$11
44 years$2,008$1,198$686$381$206$9
45 years$1,941$1,143$644$352$187$8
46 years$1,878$1,090$605$325$170$7
47 years$1,817$1,040$569$300$155$5
48 years$1,759$993$534$277$140$5
49 years$1,703$948$502$256$127$4
50 years$1,650$906$472$237$116$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,690,000, adding $6,362 every year, while hoping to spend $45,771 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: 32/44/24 Blend
57$1,690,000$1,690,000$1,690,000$1,690,000
58$1,868,942$1,779,372$1,753,177$1,914,801
59$2,010,875$1,817,862$1,763,209$1,988,544
60$2,165,750$1,856,703$1,772,042$2,063,374
61$2,334,840$1,895,865$1,779,589$2,143,048
62$2,519,545$1,935,314$1,785,757$2,228,021
63$2,721,406$1,975,012$1,790,448$2,318,797
64$2,942,121$2,014,918$1,793,559$2,415,929
65$3,183,557$2,054,989$1,794,983$2,520,029
66$3,447,771$2,095,175$1,794,606$2,631,771
67$3,737,030$2,135,425$1,792,312$2,751,903
68$4,053,827$2,175,681$1,787,974$2,881,245
69$4,400,909$2,215,881$1,781,463$3,020,706
70$4,781,302$2,255,959$1,772,642$3,171,288
71$5,198,337$2,295,843$1,761,368$3,334,098
72$5,655,684$2,335,456$1,747,490$3,510,357
73$6,157,384$2,374,714$1,730,852$3,701,413
74$6,707,890$2,413,528$1,711,288$3,908,753
75$7,312,104$2,451,801$1,688,626$4,134,019
76$7,975,429$2,489,429$1,662,685$4,379,024
77$8,703,814$2,526,302$1,633,276$4,645,768
78$9,503,813$2,562,301$1,600,201$4,936,458
79$10,382,647$2,597,298$1,563,252$5,253,531
80$11,348,269$2,631,158$1,522,214$5,599,675
81$12,409,443$2,663,735$1,476,858$5,977,856
82$13,575,821$2,694,873$1,426,947$6,391,349
83$14,858,039$2,724,406$1,372,234$6,843,765
84$16,267,814$2,752,157$1,312,459$7,339,091
85$17,818,055$2,777,937$1,247,351$7,881,725
86$19,522,985$2,801,544$1,176,625$8,476,519
87$21,398,273$2,822,764$1,099,986$9,128,826
88$23,461,185$2,841,367$1,017,124$9,844,552
89$25,730,744$2,857,112$927,715$10,630,214
90$28,227,907$2,869,738$831,421$11,492,999
91$30,975,769$2,878,970$727,889$12,440,836
92$33,999,774$2,884,517$616,750$13,482,472
93$37,327,959$2,886,066$497,619$14,627,554
94$40,991,216$2,883,288$370,094$15,886,725
95$45,023,582$2,875,831$233,754$17,271,722
96$49,462,564$2,863,324$88,162$18,795,491
97$54,349,490$2,845,371$0$20,472,310
98$59,729,897$2,821,553$0$22,335,137
99$65,653,963$2,791,426$0$24,409,339
100$72,176,981$2,754,519$0$26,691,595