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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$82,579$81,843$81,126$80,425$79,741$78,099
2 years$40,881$40,119$39,381$38,666$37,972$36,325
3 years$26,983$26,218$25,482$24,774$24,091$22,491
4 years$20,036$19,273$18,545$17,848$17,182$15,641
5 years$15,868$15,111$14,391$13,709$13,061$11,583
6 years$13,091$12,339$11,630$10,963$10,335$8,922
7 years$11,108$10,362$9,665$9,013$8,405$7,057
8 years$9,621$8,882$8,197$7,561$6,973$5,690
9 years$8,466$7,734$7,060$6,440$5,872$4,653
10 years$7,542$6,817$6,155$5,552$5,003$3,847
11 years$6,786$6,069$5,419$4,832$4,303$3,207
12 years$6,157$5,447$4,809$4,238$3,729$2,693
13 years$5,625$4,922$4,296$3,742$3,252$2,274
14 years$5,170$4,474$3,860$3,321$2,850$1,928
15 years$4,775$4,087$3,485$2,962$2,510$1,641
16 years$4,430$3,750$3,160$2,652$2,218$1,402
17 years$4,126$3,454$2,875$2,383$1,967$1,200
18 years$3,857$3,191$2,625$2,148$1,749$1,030
19 years$3,615$2,958$2,403$1,940$1,559$885
20 years$3,399$2,748$2,205$1,757$1,392$762
21 years$3,203$2,560$2,029$1,595$1,246$657
22 years$3,025$2,390$1,870$1,450$1,117$567
23 years$2,863$2,235$1,726$1,321$1,002$490
24 years$2,714$2,094$1,596$1,205$901$424
25 years$2,578$1,965$1,479$1,100$811$367
26 years$2,453$1,847$1,371$1,006$730$318
27 years$2,336$1,738$1,273$921$658$275
28 years$2,229$1,638$1,184$844$594$239
29 years$2,129$1,545$1,102$774$537$207
30 years$2,036$1,459$1,026$710$485$180
31 years$1,949$1,380$957$652$438$156
32 years$1,867$1,305$893$599$396$135
33 years$1,791$1,236$833$551$359$118
34 years$1,719$1,172$779$507$325$102
35 years$1,652$1,111$728$467$294$89
36 years$1,588$1,055$681$430$267$77
37 years$1,528$1,002$637$396$242$67
38 years$1,472$952$597$365$219$58
39 years$1,418$905$559$337$199$51
40 years$1,367$861$524$310$180$44
41 years$1,319$820$492$286$163$38
42 years$1,273$781$461$264$148$33
43 years$1,230$744$433$244$135$29
44 years$1,188$709$406$225$122$25
45 years$1,149$676$381$208$111$22
46 years$1,111$645$358$192$101$19
47 years$1,075$616$336$178$91$16
48 years$1,041$588$316$164$83$14
49 years$1,008$561$297$152$75$12
50 years$976$536$279$140$69$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,000,000, adding $3,056 every year, while hoping to spend $46,306 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: 29/43/28 Blend
57$1,000,000$1,000,000$1,000,000$1,000,000
58$1,105,152$1,052,152$1,036,652$1,127,576
59$1,168,609$1,054,438$1,022,111$1,147,826
60$1,236,985$1,055,285$1,005,530$1,165,354
61$1,310,736$1,054,572$986,794$1,183,276
62$1,390,358$1,052,172$965,778$1,201,657
63$1,476,397$1,047,952$942,355$1,220,574
64$1,569,456$1,041,768$916,390$1,240,116
65$1,670,195$1,033,469$887,743$1,260,385
66$1,779,339$1,022,893$856,267$1,281,499
67$1,897,688$1,009,872$821,808$1,303,591
68$2,026,120$994,223$784,206$1,326,815
69$2,165,600$975,755$743,293$1,351,343
70$2,317,190$954,266$698,893$1,377,374
71$2,482,060$929,542$650,822$1,405,131
72$2,661,495$901,354$598,889$1,434,867
73$2,856,909$869,462$542,894$1,466,868
74$3,069,860$833,612$482,627$1,501,456
75$3,302,061$793,534$417,870$1,538,993
76$3,555,397$748,943$348,394$1,579,889
77$3,831,944$699,538$273,962$1,624,601
78$4,133,986$644,999$194,323$1,673,644
79$4,464,039$584,990$109,219$1,727,594
80$4,824,871$519,155$18,379$1,787,099
81$5,219,532$447,117$0$1,852,880
82$5,651,377$368,479$0$1,949,217
83$6,124,104$282,821$0$2,060,926
84$6,641,781$189,698$0$2,183,612
85$7,208,892$88,643$0$2,318,493
86$7,830,372$0$0$2,466,923
87$8,511,657$0$0$2,640,266
88$9,258,736$0$0$2,876,500
89$10,078,201$0$0$3,135,789
90$10,977,316$0$0$3,420,451
91$11,964,082$0$0$3,733,040
92$13,047,311$0$0$4,076,369
93$14,236,711$0$0$4,453,539
94$15,542,974$0$0$4,867,963
95$16,977,881$0$0$5,323,404
96$18,554,409$0$0$5,824,006
97$20,286,853$0$0$6,374,333
98$22,190,963$0$0$6,979,417
99$24,284,090$0$0$7,644,799
100$26,585,350$0$0$8,376,585