Can I retire at age 58 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$160,203$158,776$157,384$156,025$154,698$154,046
2 years$79,309$77,832$76,400$75,012$73,666$73,008
3 years$52,347$50,864$49,436$48,061$46,737$46,093
4 years$38,869$37,390$35,977$34,625$33,333$32,708
5 years$30,784$29,314$27,919$26,596$25,339$24,735
6 years$25,396$23,937$22,563$21,269$20,050$19,468
7 years$21,549$20,103$18,750$17,486$16,306$15,746
8 years$18,665$17,232$15,901$14,669$13,527$12,989
9 years$16,423$15,003$13,696$12,494$11,392$10,876
10 years$14,631$13,225$11,940$10,770$9,707$9,212
11 years$13,165$11,773$10,512$9,373$8,348$7,875
12 years$11,945$10,567$9,329$8,222$7,234$6,782
13 years$10,913$9,549$8,335$7,259$6,308$5,877
14 years$10,029$8,680$7,489$6,443$5,530$5,119
15 years$9,264$7,929$6,762$5,746$4,869$4,477
16 years$8,595$7,275$6,130$5,145$4,303$3,931
17 years$8,005$6,700$5,578$4,623$3,816$3,462
18 years$7,482$6,191$5,092$4,166$3,393$3,057
19 years$7,014$5,738$4,662$3,765$3,024$2,705
20 years$6,593$5,332$4,278$3,409$2,701$2,399
21 years$6,213$4,967$3,935$3,094$2,417$2,132
22 years$5,868$4,636$3,627$2,813$2,167$1,897
23 years$5,554$4,336$3,349$2,562$1,945$1,690
24 years$5,266$4,063$3,097$2,337$1,748$1,508
25 years$5,002$3,813$2,869$2,134$1,573$1,346
26 years$4,758$3,583$2,660$1,951$1,417$1,203
27 years$4,533$3,372$2,470$1,786$1,277$1,077
28 years$4,324$3,178$2,297$1,637$1,153$964
29 years$4,130$2,998$2,137$1,501$1,041$864
30 years$3,949$2,831$1,991$1,377$940$774
31 years$3,780$2,676$1,856$1,265$850$694
32 years$3,622$2,532$1,732$1,163$769$623
33 years$3,474$2,398$1,617$1,069$696$559
34 years$3,335$2,273$1,511$984$630$502
35 years$3,204$2,156$1,412$905$571$451
36 years$3,081$2,046$1,321$834$517$405
37 years$2,965$1,943$1,237$768$469$364
38 years$2,855$1,847$1,158$708$425$327
39 years$2,751$1,756$1,085$653$385$294
40 years$2,652$1,671$1,017$602$350$265
41 years$2,559$1,591$954$556$317$238
42 years$2,470$1,515$894$513$288$214
43 years$2,385$1,443$839$473$261$193
44 years$2,305$1,376$788$437$237$173
45 years$2,228$1,312$740$404$215$156
46 years$2,155$1,251$695$373$195$141
47 years$2,086$1,194$653$345$177$127
48 years$2,019$1,140$613$318$161$114
49 years$1,955$1,089$577$294$146$103
50 years$1,894$1,040$542$272$133$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,940,000, adding $6,600 every year, while hoping to spend $49,649 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: 39/50/11 Blend
57$1,940,000$1,940,000$1,940,000$1,940,000
58$2,144,688$2,041,868$2,011,798$2,220,952
59$2,310,620$2,089,093$2,026,367$2,322,746
60$2,491,813$2,136,969$2,039,760$2,427,365
61$2,689,771$2,185,474$2,051,885$2,539,379
62$2,906,151$2,234,585$2,062,646$2,659,478
63$3,142,775$2,284,276$2,071,942$2,788,418
64$3,401,651$2,334,518$2,079,665$2,927,035
65$3,684,989$2,385,279$2,085,703$3,076,251
66$3,995,223$2,436,523$2,089,939$3,237,079
67$4,335,033$2,488,211$2,092,250$3,410,636
68$4,707,372$2,540,298$2,092,506$3,598,153
69$5,115,489$2,592,738$2,090,570$3,800,988
70$5,562,965$2,645,478$2,086,300$4,020,636
71$6,053,744$2,698,463$2,079,547$4,258,744
72$6,592,167$2,751,629$2,070,153$4,517,129
73$7,183,019$2,804,910$2,057,955$4,797,794
74$7,831,569$2,858,232$2,042,778$5,102,945
75$8,543,622$2,911,518$2,024,444$5,435,015
76$9,325,571$2,964,682$2,002,762$5,796,686
77$10,184,459$3,017,632$1,977,535$6,190,915
78$11,128,046$3,070,268$1,948,554$6,620,961
79$12,164,879$3,122,483$1,915,603$7,090,416
80$13,304,375$3,174,163$1,878,454$7,603,241
81$14,556,907$3,225,184$1,836,869$8,163,804
82$15,933,906$3,275,412$1,790,599$8,776,919
83$17,447,963$3,324,706$1,739,382$9,447,893
84$19,112,951$3,372,912$1,682,947$10,182,578
85$20,944,155$3,419,867$1,621,008$10,987,425
86$22,958,414$3,465,396$1,553,268$11,869,546
87$25,174,283$3,509,312$1,479,413$12,836,781
88$27,612,206$3,551,414$1,399,119$13,897,775
89$30,294,706$3,591,488$1,312,045$15,062,058
90$33,246,602$3,629,307$1,217,834$16,340,136
91$36,495,239$3,664,627$1,116,115$17,743,592
92$40,070,748$3,697,188$1,006,500$19,285,196
93$44,006,328$3,726,714$888,581$20,979,026
94$48,338,561$3,752,910$761,936$22,840,599
95$53,107,754$3,775,463$626,121$24,887,027
96$58,358,323$3,794,039$480,674$27,137,170
97$64,139,208$3,808,283$325,113$29,611,821
98$70,504,335$3,817,817$158,932$32,333,901
99$77,513,128$3,822,241$0$35,328,680
100$85,231,064$3,821,128$0$38,626,174