Can I retire at age 58 with 1,130,000?

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 $1,130,000?

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$93,314$92,483$91,672$90,881$90,108$88,688
2 years$46,195$45,335$44,501$43,693$42,908$41,482
3 years$30,491$29,627$28,795$27,994$27,223$25,834
4 years$22,640$21,779$20,955$20,168$19,416$18,075
5 years$17,931$17,075$16,262$15,491$14,759$13,470
6 years$14,793$13,943$13,142$12,388$11,679$10,443
7 years$12,552$11,709$10,921$10,185$9,498$8,316
8 years$10,872$10,037$9,262$8,544$7,879$6,751
9 years$9,566$8,739$7,978$7,278$6,636$5,561
10 years$8,522$7,703$6,955$6,273$5,654$4,631
11 years$7,668$6,858$6,123$5,460$4,862$3,891
12 years$6,957$6,155$5,434$4,789$4,214$3,292
13 years$6,356$5,562$4,855$4,228$3,674$2,802
14 years$5,842$5,056$4,362$3,753$3,221$2,395
15 years$5,396$4,619$3,938$3,347$2,836$2,056
16 years$5,006$4,238$3,571$2,997$2,506$1,771
17 years$4,663$3,903$3,249$2,693$2,222$1,529
18 years$4,358$3,606$2,966$2,427$1,976$1,324
19 years$4,085$3,342$2,715$2,193$1,761$1,148
20 years$3,841$3,106$2,492$1,986$1,573$998
21 years$3,619$2,893$2,292$1,802$1,408$868
22 years$3,418$2,700$2,113$1,639$1,262$756
23 years$3,235$2,526$1,951$1,492$1,133$660
24 years$3,067$2,366$1,804$1,361$1,018$576
25 years$2,913$2,221$1,671$1,243$916$503
26 years$2,771$2,087$1,550$1,137$825$440
27 years$2,640$1,964$1,439$1,040$744$385
28 years$2,519$1,851$1,338$953$671$337
29 years$2,405$1,746$1,245$874$606$295
30 years$2,300$1,649$1,160$802$548$259
31 years$2,202$1,559$1,081$737$495$227
32 years$2,110$1,475$1,009$677$448$199
33 years$2,024$1,397$942$623$405$174
34 years$1,943$1,324$880$573$367$153
35 years$1,866$1,256$823$527$332$134
36 years$1,795$1,192$770$486$301$118
37 years$1,727$1,132$720$448$273$103
38 years$1,663$1,076$675$413$248$91
39 years$1,602$1,023$632$380$224$80
40 years$1,545$973$592$351$204$70
41 years$1,490$926$555$324$185$61
42 years$1,439$882$521$299$168$54
43 years$1,389$841$489$276$152$47
44 years$1,343$801$459$255$138$42
45 years$1,298$764$431$235$125$37
46 years$1,255$729$405$217$114$32
47 years$1,215$696$380$201$103$28
48 years$1,176$664$357$185$94$25
49 years$1,139$634$336$171$85$22
50 years$1,103$606$316$158$77$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,130,000, adding $4,015 every year, while hoping to spend $56,882 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: 65/20/15 Blend
57$1,130,000$1,130,000$1,130,000$1,130,000
58$1,249,401$1,189,511$1,171,996$1,325,859
59$1,316,318$1,187,276$1,150,736$1,375,272
60$1,388,154$1,183,024$1,126,858$1,422,289
61$1,465,351$1,176,597$1,100,212$1,472,266
62$1,548,394$1,167,827$1,070,646$1,525,490
63$1,637,814$1,156,534$1,037,997$1,582,281
64$1,734,197$1,142,531$1,002,096$1,642,992
65$1,838,185$1,125,614$962,766$1,708,013
66$1,950,483$1,105,573$919,822$1,777,776
67$2,071,867$1,082,181$873,071$1,852,761
68$2,203,189$1,055,199$822,310$1,933,495
69$2,345,386$1,024,375$767,329$2,020,564
70$2,499,487$989,441$707,906$2,114,616
71$2,666,624$950,114$643,811$2,216,367
72$2,848,044$906,093$574,802$2,326,609
73$3,045,115$857,062$500,629$2,446,217
74$3,259,345$802,686$421,028$2,576,160
75$3,492,390$742,610$335,724$2,717,509
76$3,746,075$676,459$244,432$2,871,446
77$4,022,405$603,836$146,851$3,039,280
78$4,323,589$524,323$42,669$3,222,456
79$4,652,058$437,477$0$3,422,572
80$5,010,485$342,831$0$3,652,358
81$5,401,815$239,890$0$3,910,801
82$5,829,290$128,134$0$4,193,275
83$6,296,475$7,011$0$4,502,221
84$6,807,301$0$0$4,840,330
85$7,366,092$0$0$5,237,875
86$7,977,609$0$0$5,674,693
87$8,647,096$0$0$6,152,997
88$9,380,328$0$0$6,676,922
89$10,183,663$0$0$7,251,022
90$11,064,104$0$0$7,880,311
91$12,029,365$0$0$8,570,312
92$13,087,938$0$0$9,327,109
93$14,249,181$0$0$10,157,402
94$15,523,398$0$0$11,068,571
95$16,921,941$0$0$12,068,746
96$18,457,312$0$0$13,166,880
97$20,143,285$0$0$14,372,839
98$21,995,032$0$0$15,697,488
99$24,029,267$0$0$17,152,797
100$26,264,402$0$0$18,751,955