Can I retire at age 58 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$143,688$142,408$141,159$139,940$138,750$138,049
2 years$71,132$69,808$68,524$67,279$66,071$65,364
3 years$46,951$45,620$44,339$43,106$41,918$41,227
4 years$34,862$33,536$32,268$31,056$29,897$29,226
5 years$27,611$26,292$25,041$23,854$22,727$22,079
6 years$22,778$21,470$20,237$19,076$17,983$17,358
7 years$19,328$18,030$16,817$15,683$14,625$14,024
8 years$16,741$15,455$14,262$13,156$12,133$11,556
9 years$14,730$13,457$12,284$11,206$10,218$9,665
10 years$13,122$11,861$10,709$9,660$8,706$8,176
11 years$11,808$10,559$9,428$8,407$7,487$6,981
12 years$10,713$9,478$8,367$7,374$6,488$6,005
13 years$9,788$8,565$7,476$6,510$5,658$5,197
14 years$8,995$7,785$6,717$5,779$4,960$4,520
15 years$8,309$7,112$6,065$5,154$4,367$3,949
16 years$7,709$6,525$5,498$4,615$3,860$3,462
17 years$7,180$6,009$5,003$4,146$3,422$3,045
18 years$6,711$5,553$4,567$3,737$3,043$2,685
19 years$6,291$5,146$4,181$3,376$2,712$2,373
20 years$5,914$4,782$3,837$3,058$2,423$2,101
21 years$5,573$4,455$3,530$2,775$2,168$1,864
22 years$5,263$4,158$3,253$2,523$1,943$1,656
23 years$4,981$3,889$3,004$2,298$1,744$1,474
24 years$4,723$3,644$2,778$2,096$1,568$1,313
25 years$4,486$3,419$2,573$1,914$1,411$1,170
26 years$4,267$3,214$2,386$1,750$1,271$1,045
27 years$4,065$3,025$2,216$1,602$1,146$933
28 years$3,878$2,850$2,060$1,468$1,034$834
29 years$3,704$2,689$1,917$1,346$934$746
30 years$3,542$2,539$1,786$1,235$843$668
31 years$3,391$2,400$1,665$1,135$763$598
32 years$3,249$2,271$1,553$1,043$690$535
33 years$3,116$2,151$1,450$959$624$480
34 years$2,991$2,039$1,355$882$565$430
35 years$2,874$1,934$1,267$812$512$386
36 years$2,764$1,835$1,185$748$464$346
37 years$2,659$1,743$1,109$689$420$310
38 years$2,561$1,656$1,039$635$381$279
39 years$2,467$1,575$973$586$346$250
40 years$2,379$1,499$912$540$313$225
41 years$2,295$1,427$855$498$284$202
42 years$2,215$1,359$802$460$258$181
43 years$2,139$1,294$753$425$234$163
44 years$2,067$1,234$707$392$213$146
45 years$1,999$1,177$664$362$193$131
46 years$1,933$1,122$623$334$175$118
47 years$1,871$1,071$585$309$159$106
48 years$1,811$1,023$550$286$145$95
49 years$1,754$977$517$264$131$86
50 years$1,699$933$486$244$119$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,740,000, adding $5,372 every year, while hoping to spend $30,498 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: 28/42/30 Blend
57$1,740,000$1,740,000$1,740,000$1,740,000
58$1,923,021$1,830,801$1,803,831$1,958,932
59$2,086,720$1,888,061$1,831,810$2,045,593
60$2,266,093$1,947,104$1,859,704$2,135,663
61$2,462,709$2,007,986$1,887,478$2,231,828
62$2,678,291$2,070,764$1,915,094$2,334,634
63$2,914,741$2,135,495$1,942,515$2,444,680
64$3,174,152$2,202,242$1,969,696$2,562,627
65$3,458,829$2,271,065$1,996,594$2,689,200
66$3,771,313$2,342,030$2,023,163$2,825,196
67$4,114,399$2,415,202$2,049,351$2,971,491
68$4,491,170$2,490,649$2,075,107$3,129,052
69$4,905,020$2,568,442$2,100,374$3,298,937
70$5,359,690$2,648,653$2,125,094$3,482,316
71$5,859,298$2,731,357$2,149,204$3,680,473
72$6,408,382$2,816,630$2,172,639$3,894,822
73$7,011,944$2,904,551$2,195,329$4,126,920
74$7,675,491$2,995,203$2,217,201$4,378,478
75$8,405,093$3,088,669$2,238,179$4,651,383
76$9,207,434$3,185,036$2,258,180$4,947,712
77$10,089,883$3,284,394$2,277,120$5,269,750
78$11,060,555$3,386,833$2,294,907$5,620,014
79$12,128,394$3,492,449$2,311,448$6,001,276
80$13,303,251$3,601,340$2,326,643$6,416,589
81$14,595,983$3,713,606$2,340,385$6,869,313
82$16,018,551$3,829,351$2,352,566$7,363,152
83$17,584,135$3,948,681$2,363,069$7,902,183
84$19,307,257$4,071,707$2,371,773$8,490,898
85$21,203,918$4,198,541$2,378,548$9,134,245
86$23,291,749$4,329,301$2,383,261$9,837,673
87$25,590,178$4,464,107$2,385,770$10,607,187
88$28,120,610$4,603,082$2,385,927$11,449,399
89$30,906,633$4,746,355$2,383,577$12,371,598
90$33,974,240$4,894,056$2,378,557$13,381,809
91$37,352,068$5,046,321$2,370,694$14,488,878
92$41,071,678$5,203,289$2,359,811$15,702,546
93$45,167,843$5,365,104$2,345,719$17,033,551
94$49,678,883$5,531,914$2,328,221$18,493,719
95$54,647,023$5,703,872$2,307,109$20,096,083
96$60,118,791$5,881,133$2,282,169$21,855,001
97$66,145,459$6,063,860$2,253,173$23,786,296
98$72,783,525$6,252,219$2,219,885$25,907,400
99$80,095,248$6,446,381$2,182,054$28,237,523
100$88,149,233$6,646,523$2,139,422$30,797,831