Can I retire at age 58 with 1,100,000?

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 $1,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$90,837$90,028$89,238$88,468$87,716$87,346
2 years$44,969$44,131$43,320$42,533$41,769$41,396
3 years$29,681$28,840$28,031$27,251$26,500$26,135
4 years$22,039$21,201$20,399$19,633$18,900$18,546
5 years$17,455$16,622$15,831$15,080$14,368$14,025
6 years$14,400$13,573$12,793$12,060$11,369$11,038
7 years$12,219$11,398$10,631$9,915$9,246$8,928
8 years$10,583$9,771$9,016$8,317$7,670$7,365
9 years$9,312$8,507$7,766$7,084$6,459$6,167
10 years$8,296$7,499$6,770$6,107$5,504$5,223
11 years$7,465$6,675$5,960$5,315$4,733$4,465
12 years$6,773$5,992$5,290$4,662$4,102$3,846
13 years$6,188$5,415$4,726$4,116$3,577$3,332
14 years$5,687$4,922$4,246$3,653$3,135$2,902
15 years$5,253$4,496$3,834$3,258$2,761$2,539
16 years$4,873$4,125$3,476$2,917$2,440$2,229
17 years$4,539$3,799$3,163$2,621$2,163$1,963
18 years$4,242$3,510$2,887$2,362$1,924$1,733
19 years$3,977$3,253$2,643$2,135$1,715$1,534
20 years$3,739$3,023$2,426$1,933$1,531$1,360
21 years$3,523$2,816$2,231$1,755$1,371$1,209
22 years$3,327$2,629$2,057$1,595$1,228$1,075
23 years$3,149$2,459$1,899$1,453$1,103$958
24 years$2,986$2,304$1,756$1,325$991$855
25 years$2,836$2,162$1,627$1,210$892$763
26 years$2,698$2,032$1,509$1,106$803$682
27 years$2,570$1,912$1,401$1,013$724$610
28 years$2,452$1,802$1,302$928$654$547
29 years$2,342$1,700$1,212$851$590$490
30 years$2,239$1,605$1,129$781$533$439
31 years$2,143$1,517$1,052$717$482$394
32 years$2,054$1,436$982$659$436$353
33 years$1,970$1,360$917$606$395$317
34 years$1,891$1,289$857$558$357$285
35 years$1,817$1,222$801$513$324$256
36 years$1,747$1,160$749$473$293$230
37 years$1,681$1,102$701$436$266$207
38 years$1,619$1,047$657$402$241$186
39 years$1,560$996$615$370$218$167
40 years$1,504$947$577$342$198$150
41 years$1,451$902$541$315$180$135
42 years$1,400$859$507$291$163$121
43 years$1,353$818$476$268$148$109
44 years$1,307$780$447$248$134$98
45 years$1,264$744$419$229$122$89
46 years$1,222$710$394$211$111$80
47 years$1,183$677$370$195$101$72
48 years$1,145$646$348$180$91$65
49 years$1,109$617$327$167$83$58
50 years$1,074$590$307$154$75$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,100,000, adding $6,815 every year, while hoping to spend $49,103 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: 31/49/20 Blend
57$1,100,000$1,100,000$1,100,000$1,100,000
58$1,219,230$1,160,930$1,143,880$1,249,244
59$1,291,346$1,165,570$1,129,954$1,277,082
60$1,369,172$1,168,792$1,113,917$1,302,113
61$1,453,239$1,170,474$1,095,645$1,328,026
62$1,544,130$1,170,488$1,075,009$1,354,927
63$1,642,486$1,168,696$1,051,876$1,382,937
64$1,749,010$1,164,953$1,026,105$1,412,193
65$1,864,479$1,159,106$997,549$1,442,851
66$1,989,743$1,150,989$966,054$1,475,085
67$2,125,739$1,140,430$931,459$1,509,093
68$2,273,497$1,127,244$893,596$1,545,098
69$2,434,152$1,111,236$852,290$1,583,350
70$2,608,949$1,092,200$807,355$1,624,132
71$2,799,260$1,069,917$758,600$1,667,758
72$3,006,595$1,044,154$705,824$1,714,586
73$3,232,616$1,014,665$648,816$1,765,012
74$3,479,150$981,191$587,359$1,819,482
75$3,748,210$943,456$521,223$1,878,495
76$4,042,011$901,169$450,167$1,942,609
77$4,362,992$854,022$373,943$2,012,446
78$4,713,836$801,688$292,290$2,088,703
79$5,097,500$743,823$204,934$2,172,156
80$5,517,238$680,063$111,592$2,263,670
81$5,976,632$610,022$11,966$2,364,211
82$6,479,628$533,293$0$2,474,852
83$7,030,572$449,446$0$2,616,926
84$7,634,247$358,026$0$2,775,663
85$8,295,924$258,553$0$2,950,059
86$9,021,406$150,520$0$3,141,836
87$9,817,085$33,391$0$3,352,901
88$10,690,001$0$0$3,585,369
89$11,647,910$0$0$3,891,942
90$12,699,352$0$0$4,248,388
91$13,853,737$0$0$4,639,916
92$15,121,429$0$0$5,070,062
93$16,513,846$0$0$5,542,724
94$18,043,566$0$0$6,062,196
95$19,724,444$0$0$6,633,210
96$21,571,746$0$0$7,260,976
97$23,602,288$0$0$7,951,236
98$25,834,597$0$0$8,710,316
99$28,289,085$0$0$9,545,187
100$30,988,240$0$0$10,463,526