Can I retire at age 58 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$88,360$87,573$86,805$86,055$85,323$82,133
2 years$43,742$42,928$42,138$41,373$40,630$37,452
3 years$28,872$28,054$27,266$26,508$25,777$22,712
4 years$21,438$20,622$19,843$19,097$18,385$15,455
5 years$16,979$16,168$15,399$14,669$13,976$11,190
6 years$14,007$13,203$12,445$11,731$11,059$8,418
7 years$11,885$11,088$10,341$9,644$8,994$6,498
8 years$10,295$9,504$8,770$8,090$7,461$5,108
9 years$9,058$8,275$7,554$6,891$6,283$4,070
10 years$8,070$7,294$6,586$5,940$5,354$3,275
11 years$7,261$6,493$5,798$5,170$4,604$2,657
12 years$6,588$5,828$5,146$4,535$3,990$2,168
13 years$6,019$5,267$4,597$4,003$3,479$1,778
14 years$5,531$4,788$4,131$3,554$3,050$1,464
15 years$5,109$4,373$3,729$3,169$2,685$1,209
16 years$4,741$4,013$3,381$2,838$2,373$1,001
17 years$4,415$3,695$3,077$2,550$2,104$831
18 years$4,127$3,415$2,809$2,298$1,871$690
19 years$3,869$3,165$2,571$2,076$1,668$575
20 years$3,637$2,941$2,360$1,880$1,490$479
21 years$3,427$2,739$2,171$1,707$1,333$399
22 years$3,237$2,557$2,000$1,552$1,195$333
23 years$3,063$2,392$1,847$1,413$1,073$279
24 years$2,904$2,241$1,708$1,289$964$233
25 years$2,759$2,103$1,582$1,177$868$195
26 years$2,624$1,976$1,467$1,076$781$163
27 years$2,500$1,860$1,363$985$705$136
28 years$2,385$1,753$1,267$903$636$114
29 years$2,278$1,653$1,179$828$574$96
30 years$2,178$1,561$1,098$760$519$80
31 years$2,085$1,476$1,024$698$469$67
32 years$1,998$1,397$955$641$424$56
33 years$1,916$1,323$892$590$384$47
34 years$1,840$1,254$833$543$348$39
35 years$1,767$1,189$779$499$315$33
36 years$1,699$1,129$729$460$285$28
37 years$1,635$1,072$682$424$259$23
38 years$1,575$1,019$639$391$234$19
39 years$1,517$969$598$360$213$16
40 years$1,463$922$561$332$193$14
41 years$1,411$877$526$306$175$11
42 years$1,362$835$493$283$159$10
43 years$1,316$796$463$261$144$8
44 years$1,271$759$435$241$131$7
45 years$1,229$724$408$223$119$6
46 years$1,189$690$383$206$108$5
47 years$1,150$659$360$190$98$4
48 years$1,113$629$338$176$89$3
49 years$1,078$600$318$162$81$3
50 years$1,045$574$299$150$73$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,070,000, adding $3,229 every year, while hoping to spend $56,782 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: 81/12/7 Blend
57$1,070,000$1,070,000$1,070,000$1,070,000
58$1,182,471$1,125,761$1,109,176$1,277,149
59$1,242,667$1,120,507$1,085,917$1,334,328
60$1,307,100$1,113,094$1,059,977$1,389,206
61$1,376,143$1,103,353$1,031,205$1,447,705
62$1,450,203$1,091,111$999,443$1,510,158
63$1,529,728$1,076,180$964,529$1,576,928
64$1,615,211$1,058,363$926,291$1,648,418
65$1,707,190$1,037,451$884,550$1,725,070
66$1,806,259$1,013,222$839,118$1,807,373
67$1,913,069$985,441$789,800$1,895,863
68$2,028,334$953,860$736,390$1,991,133
69$2,152,841$918,215$678,675$2,093,836
70$2,287,451$878,229$616,432$2,204,692
71$2,433,116$833,606$549,427$2,324,494
72$2,590,877$784,036$477,416$2,454,116
73$2,761,881$729,189$400,145$2,594,522
74$2,947,391$668,716$317,347$2,746,776
75$3,148,791$602,250$228,745$2,912,049
76$3,367,609$529,402$134,048$3,091,633
77$3,605,522$449,759$32,956$3,286,952
78$3,864,376$362,888$0$3,499,578
79$4,146,202$268,330$0$3,736,839
80$4,453,236$165,599$0$3,998,037
81$4,787,938$54,185$0$4,282,841
82$5,153,013$0$0$4,593,599
83$5,551,443$0$0$4,941,673
84$5,986,507$0$0$5,329,589
85$6,461,814$0$0$5,753,414
86$6,981,341$0$0$6,216,696
87$7,549,462$0$0$6,723,341
88$8,170,997$0$0$7,277,648
89$8,851,250$0$0$7,884,354
90$9,596,064$0$0$8,548,671
91$10,411,871$0$0$9,276,342
92$11,305,756$0$0$10,073,691
93$12,285,522$0$0$10,947,681
94$13,359,761$0$0$11,905,981
95$14,537,937$0$0$12,957,040
96$15,830,475$0$0$14,110,161
97$17,248,857$0$0$15,375,593
98$18,805,729$0$0$16,764,624
99$20,515,023$0$0$18,289,689
100$22,392,085$0$0$19,964,486