Can I retire at age 58 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$89,185$88,391$87,616$86,859$86,121$84,764
2 years$44,151$43,329$42,532$41,759$41,010$39,646
3 years$29,142$28,316$27,521$26,756$26,018$24,691
4 years$21,638$20,815$20,028$19,276$18,557$17,275
5 years$17,138$16,319$15,543$14,806$14,106$12,874
6 years$14,138$13,326$12,561$11,840$11,162$9,981
7 years$11,997$11,191$10,438$9,735$9,078$7,948
8 years$10,391$9,593$8,852$8,166$7,531$6,453
9 years$9,143$8,352$7,625$6,956$6,342$5,315
10 years$8,145$7,362$6,647$5,996$5,404$4,426
11 years$7,329$6,554$5,852$5,218$4,647$3,719
12 years$6,650$5,883$5,194$4,577$4,027$3,147
13 years$6,075$5,316$4,640$4,041$3,512$2,678
14 years$5,583$4,832$4,169$3,587$3,078$2,289
15 years$5,157$4,414$3,764$3,199$2,711$1,965
16 years$4,785$4,050$3,413$2,864$2,396$1,692
17 years$4,457$3,730$3,106$2,574$2,124$1,462
18 years$4,165$3,447$2,835$2,319$1,889$1,265
19 years$3,905$3,194$2,595$2,096$1,683$1,097
20 years$3,671$2,968$2,382$1,898$1,504$953
21 years$3,459$2,765$2,191$1,723$1,346$830
22 years$3,267$2,581$2,019$1,566$1,206$723
23 years$3,092$2,414$1,864$1,426$1,083$630
24 years$2,932$2,262$1,724$1,301$973$550
25 years$2,784$2,122$1,597$1,188$876$481
26 years$2,649$1,995$1,481$1,086$789$420
27 years$2,523$1,877$1,375$994$711$368
28 years$2,407$1,769$1,279$911$642$322
29 years$2,299$1,669$1,190$835$579$282
30 years$2,198$1,576$1,108$767$524$247
31 years$2,104$1,490$1,033$704$473$217
32 years$2,017$1,410$964$647$428$190
33 years$1,934$1,335$900$595$387$167
34 years$1,857$1,265$841$548$351$146
35 years$1,784$1,200$786$504$318$128
36 years$1,715$1,139$736$464$288$112
37 years$1,651$1,082$688$428$261$99
38 years$1,589$1,028$645$394$237$87
39 years$1,531$978$604$364$215$76
40 years$1,477$930$566$335$195$67
41 years$1,424$885$531$309$177$59
42 years$1,375$843$498$285$160$52
43 years$1,328$803$467$264$145$45
44 years$1,283$766$439$243$132$40
45 years$1,241$730$412$225$120$35
46 years$1,200$697$387$208$109$31
47 years$1,161$665$363$192$99$27
48 years$1,124$635$341$177$90$24
49 years$1,088$606$321$164$81$21
50 years$1,054$579$302$151$74$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,080,000, adding $2,277 every year, while hoping to spend $54,246 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: 72/23/5 Blend
57$1,080,000$1,080,000$1,080,000$1,080,000
58$1,192,509$1,135,269$1,118,529$1,277,687
59$1,256,427$1,133,180$1,098,282$1,332,042
60$1,325,047$1,129,170$1,075,539$1,384,502
61$1,398,792$1,123,088$1,050,159$1,440,397
62$1,478,123$1,114,775$1,021,994$1,500,047
63$1,563,551$1,104,058$990,890$1,563,809
64$1,655,634$1,090,758$956,686$1,632,073
65$1,754,987$1,074,683$919,213$1,705,272
66$1,862,284$1,055,631$878,295$1,783,883
67$1,978,266$1,033,386$833,747$1,868,434
68$2,103,749$1,007,721$785,377$1,959,507
69$2,239,627$978,395$732,983$2,057,742
70$2,386,885$945,153$676,354$2,163,851
71$2,546,607$907,725$615,271$2,278,614
72$2,719,982$865,825$549,504$2,402,897
73$2,908,320$819,151$478,813$2,537,654
74$3,113,063$767,383$402,947$2,683,937
75$3,335,794$710,183$321,645$2,842,909
76$3,578,258$647,195$234,632$3,015,853
77$3,842,372$578,040$141,625$3,204,187
78$4,130,249$502,318$42,324$3,409,474
79$4,444,212$419,609$0$3,633,440
80$4,786,818$329,467$0$3,881,386
81$5,160,883$231,421$0$4,154,650
82$5,569,506$124,973$0$4,453,310
83$6,016,098$9,599$0$4,779,946
84$6,504,416$0$0$5,137,406
85$7,038,593$0$0$5,557,999
86$7,623,185$0$0$6,020,996
87$8,263,205$0$0$6,527,946
88$8,964,175$0$0$7,083,228
89$9,732,174$0$0$7,691,666
90$10,573,899$0$0$8,358,572
91$11,496,724$0$0$9,089,797
92$12,508,774$0$0$9,891,784
93$13,618,992$0$0$10,771,631
94$14,837,235$0$0$11,737,155
95$16,174,354$0$0$12,796,968
96$17,642,307$0$0$13,960,553
97$19,254,264$0$0$15,238,361
98$21,024,732$0$0$16,641,901
99$22,969,694$0$0$18,183,853
100$25,106,756$0$0$19,878,185