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

Use the below retirement simulation to view the chances of a successful retirement.
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%19.6%
1 years$82,579$81,843$81,126$80,425$79,741$76,668
2 years$40,881$40,119$39,381$38,666$37,972$34,913
3 years$26,983$26,218$25,482$24,774$24,091$21,142
4 years$20,036$19,273$18,545$17,848$17,182$14,365
5 years$15,868$15,111$14,391$13,709$13,061$10,384
6 years$13,091$12,339$11,630$10,963$10,335$7,799
7 years$11,108$10,362$9,665$9,013$8,405$6,010
8 years$9,621$8,882$8,197$7,561$6,973$4,716
9 years$8,466$7,734$7,060$6,440$5,872$3,750
10 years$7,542$6,817$6,155$5,552$5,003$3,012
11 years$6,786$6,069$5,419$4,832$4,303$2,439
12 years$6,157$5,447$4,809$4,238$3,729$1,986
13 years$5,625$4,922$4,296$3,742$3,252$1,625
14 years$5,170$4,474$3,860$3,321$2,850$1,335
15 years$4,775$4,087$3,485$2,962$2,510$1,101
16 years$4,430$3,750$3,160$2,652$2,218$909
17 years$4,126$3,454$2,875$2,383$1,967$753
18 years$3,857$3,191$2,625$2,148$1,749$624
19 years$3,615$2,958$2,403$1,940$1,559$518
20 years$3,399$2,748$2,205$1,757$1,392$431
21 years$3,203$2,560$2,029$1,595$1,246$359
22 years$3,025$2,390$1,870$1,450$1,117$299
23 years$2,863$2,235$1,726$1,321$1,002$249
24 years$2,714$2,094$1,596$1,205$901$208
25 years$2,578$1,965$1,479$1,100$811$173
26 years$2,453$1,847$1,371$1,006$730$145
27 years$2,336$1,738$1,273$921$658$121
28 years$2,229$1,638$1,184$844$594$101
29 years$2,129$1,545$1,102$774$537$84
30 years$2,036$1,459$1,026$710$485$70
31 years$1,949$1,380$957$652$438$59
32 years$1,867$1,305$893$599$396$49
33 years$1,791$1,236$833$551$359$41
34 years$1,719$1,172$779$507$325$34
35 years$1,652$1,111$728$467$294$29
36 years$1,588$1,055$681$430$267$24
37 years$1,528$1,002$637$396$242$20
38 years$1,472$952$597$365$219$17
39 years$1,418$905$559$337$199$14
40 years$1,367$861$524$310$180$12
41 years$1,319$820$492$286$163$10
42 years$1,273$781$461$264$148$8
43 years$1,230$744$433$244$135$7
44 years$1,188$709$406$225$122$6
45 years$1,149$676$381$208$111$5
46 years$1,111$645$358$192$101$4
47 years$1,075$616$336$178$91$3
48 years$1,041$588$316$164$83$3
49 years$1,008$561$297$152$75$2
50 years$976$536$279$140$69$2

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 $2,407 every year, while hoping to spend $35,515 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: 53/36/11 Blend
57$1,000,000$1,000,000$1,000,000$1,000,000
58$1,104,483$1,051,483$1,035,983$1,159,755
59$1,179,352$1,065,218$1,032,901$1,211,355
60$1,260,668$1,078,435$1,028,525$1,263,433
61$1,349,051$1,091,073$1,022,775$1,319,264
62$1,445,182$1,103,063$1,015,565$1,379,214
63$1,549,811$1,114,335$1,006,808$1,443,684
64$1,663,766$1,124,811$996,410$1,513,116
65$1,787,954$1,134,411$984,273$1,588,000
66$1,923,375$1,143,047$970,297$1,668,874
67$2,071,131$1,150,627$954,373$1,756,336
68$2,232,432$1,157,054$936,390$1,851,043
69$2,408,612$1,162,221$916,231$1,953,721
70$2,601,139$1,166,019$893,774$2,065,172
71$2,811,630$1,168,329$868,890$2,186,281
72$3,041,864$1,169,024$841,445$2,318,024
73$3,293,801$1,167,973$811,300$2,461,481
74$3,569,597$1,165,032$778,307$2,617,840
75$3,871,629$1,160,052$742,314$2,788,415
76$4,202,514$1,152,873$703,160$2,974,656
77$4,565,132$1,143,326$660,677$3,178,164
78$4,962,657$1,131,230$614,691$3,400,703
79$5,398,583$1,116,396$565,019$3,644,223
80$5,876,761$1,098,622$511,470$3,910,875
81$6,401,430$1,077,693$453,843$4,203,030
82$6,977,260$1,053,385$391,931$4,523,309
83$7,609,396$1,025,456$325,516$4,874,600
84$8,303,504$993,653$254,370$5,260,091
85$9,065,826$957,707$178,257$5,683,300
86$9,903,240$917,333$96,927$6,148,108
87$10,823,319$872,231$10,123$6,658,796
88$11,834,410$822,083$0$7,220,089
89$12,945,706$766,551$0$7,846,880
90$14,167,336$705,281$0$8,537,131
91$15,510,460$637,895$0$9,296,029
92$16,987,370$563,995$0$10,130,603
93$18,611,613$483,162$0$11,048,606
94$20,398,112$394,952$0$12,058,586
95$22,363,310$298,895$0$13,169,969
96$24,525,323$194,495$0$14,393,150
97$26,904,110$81,231$0$15,739,588
98$29,521,666$0$0$17,221,919
99$32,402,223$0$0$18,870,499
100$35,572,482$0$0$20,720,408