Can I retire at age 58 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$86,708$85,936$85,182$84,447$83,728$81,671
2 years$42,925$42,125$41,351$40,599$39,871$37,811
3 years$28,332$27,529$26,757$26,012$25,296$23,297
4 years$21,037$20,237$19,472$18,740$18,041$16,120
5 years$16,662$15,866$15,111$14,394$13,715$11,876
6 years$13,745$12,956$12,212$11,511$10,852$9,097
7 years$11,663$10,880$10,148$9,464$8,825$7,155
8 years$10,102$9,326$8,606$7,939$7,322$5,735
9 years$8,889$8,120$7,413$6,762$6,166$4,662
10 years$7,919$7,158$6,463$5,829$5,254$3,830
11 years$7,125$6,372$5,690$5,073$4,518$3,174
12 years$6,465$5,719$5,049$4,450$3,915$2,647
13 years$5,906$5,168$4,511$3,929$3,414$2,220
14 years$5,428$4,698$4,053$3,487$2,993$1,870
15 years$5,014$4,292$3,660$3,110$2,635$1,581
16 years$4,652$3,938$3,318$2,785$2,329$1,341
17 years$4,333$3,626$3,019$2,502$2,065$1,139
18 years$4,049$3,351$2,756$2,255$1,836$971
19 years$3,796$3,106$2,523$2,037$1,637$828
20 years$3,569$2,886$2,316$1,845$1,462$708
21 years$3,363$2,688$2,130$1,675$1,308$606
22 years$3,176$2,509$1,963$1,523$1,173$519
23 years$3,006$2,347$1,813$1,387$1,053$445
24 years$2,850$2,199$1,676$1,265$946$382
25 years$2,707$2,063$1,553$1,155$851$328
26 years$2,575$1,939$1,440$1,056$767$282
27 years$2,453$1,825$1,337$967$691$242
28 years$2,340$1,720$1,243$886$624$208
29 years$2,235$1,622$1,157$812$563$179
30 years$2,137$1,532$1,077$745$509$154
31 years$2,046$1,448$1,004$685$460$133
32 years$1,961$1,371$937$629$416$114
33 years$1,880$1,298$875$579$377$98
34 years$1,805$1,230$818$532$341$85
35 years$1,734$1,167$764$490$309$73
36 years$1,668$1,107$715$451$280$63
37 years$1,605$1,052$669$416$254$54
38 years$1,545$1,000$627$383$230$47
39 years$1,489$951$587$353$209$40
40 years$1,436$904$550$326$189$35
41 years$1,385$861$516$301$172$30
42 years$1,337$820$484$278$156$26
43 years$1,291$781$454$256$141$22
44 years$1,248$745$426$237$128$19
45 years$1,206$710$400$218$116$16
46 years$1,167$677$376$202$106$14
47 years$1,129$646$353$186$96$12
48 years$1,093$617$332$172$87$11
49 years$1,058$589$312$159$79$9
50 years$1,025$563$293$147$72$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,050,000, adding $5,535 every year, while hoping to spend $35,334 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: 30/49/21 Blend
57$1,050,000$1,050,000$1,050,000$1,050,000
58$1,162,809$1,107,159$1,090,884$1,189,924
59$1,243,821$1,123,815$1,089,834$1,227,709
60$1,331,911$1,140,103$1,087,564$1,264,784
61$1,427,765$1,155,967$1,083,996$1,303,929
62$1,532,136$1,171,348$1,079,049$1,345,344
63$1,645,854$1,186,184$1,072,637$1,389,253
64$1,769,829$1,200,405$1,064,669$1,435,903
65$1,905,068$1,213,941$1,055,051$1,485,568
66$2,052,674$1,226,713$1,043,685$1,538,553
67$2,213,865$1,238,640$1,030,466$1,595,195
68$2,389,979$1,249,634$1,015,287$1,655,868
69$2,582,492$1,259,601$998,034$1,720,988
70$2,793,026$1,268,441$978,588$1,791,013
71$3,023,368$1,276,049$956,825$1,866,454
72$3,275,488$1,282,311$932,614$1,947,875
73$3,551,551$1,287,108$905,820$2,035,902
74$3,853,945$1,290,312$876,301$2,131,226
75$4,185,297$1,291,787$843,906$2,234,614
76$4,548,502$1,291,389$808,482$2,346,917
77$4,946,747$1,288,965$769,864$2,469,073
78$5,383,544$1,284,353$727,883$2,602,124
79$5,862,759$1,277,380$682,361$2,747,220
80$6,388,653$1,267,863$633,112$2,905,635
81$6,965,916$1,255,609$579,941$3,078,780
82$7,599,716$1,240,411$522,647$3,268,212
83$8,295,748$1,222,052$461,016$3,475,656
84$9,060,282$1,200,300$394,828$3,703,019
85$9,900,227$1,174,911$323,851$3,952,409
86$10,823,194$1,145,625$247,844$4,226,156
87$11,837,568$1,112,169$166,554$4,526,837
88$12,952,585$1,074,251$79,720$4,857,299
89$14,178,424$1,031,564$0$5,220,690
90$15,526,295$983,782$0$5,623,388
91$17,008,551$930,562$0$6,085,585
92$18,638,803$871,540$0$6,593,712
93$20,432,045$806,329$0$7,152,526
94$22,404,799$734,524$0$7,767,282
95$24,575,267$655,694$0$8,443,774
96$26,963,506$569,385$0$9,188,400
97$29,591,614$475,115$0$10,008,218
98$32,483,941$372,378$0$10,911,015
99$35,667,316$260,638$0$11,905,386
100$39,171,300$139,327$0$13,000,812