Can I retire at age 58 with 1,150,000?

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 $1,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$94,966$94,120$93,295$92,489$91,703$88,449
2 years$47,013$46,137$45,289$44,466$43,668$40,425
3 years$31,031$30,151$29,305$28,490$27,705$24,574
4 years$23,041$22,164$21,326$20,525$19,759$16,764
5 years$18,248$17,377$16,550$15,765$15,021$12,170
6 years$15,055$14,190$13,375$12,608$11,885$9,181
7 years$12,774$11,916$11,115$10,365$9,666$7,107
8 years$11,064$10,215$9,426$8,695$8,019$5,603
9 years$9,735$8,894$8,119$7,407$6,753$4,478
10 years$8,673$7,839$7,078$6,384$5,754$3,615
11 years$7,804$6,979$6,231$5,556$4,949$2,942
12 years$7,081$6,264$5,530$4,874$4,288$2,409
13 years$6,469$5,661$4,941$4,303$3,739$1,982
14 years$5,945$5,145$4,439$3,820$3,278$1,638
15 years$5,491$4,700$4,008$3,406$2,886$1,357
16 years$5,095$4,313$3,634$3,050$2,551$1,128
17 years$4,745$3,972$3,307$2,740$2,262$939
18 years$4,435$3,670$3,019$2,470$2,011$784
19 years$4,158$3,401$2,763$2,232$1,792$655
20 years$3,908$3,161$2,536$2,021$1,601$548
21 years$3,683$2,944$2,333$1,834$1,433$459
22 years$3,479$2,748$2,150$1,668$1,284$384
23 years$3,292$2,570$1,985$1,519$1,153$322
24 years$3,122$2,408$1,836$1,385$1,036$271
25 years$2,965$2,260$1,700$1,265$932$227
26 years$2,820$2,124$1,577$1,157$840$191
27 years$2,687$1,999$1,464$1,059$757$160
28 years$2,563$1,884$1,361$970$683$135
29 years$2,448$1,777$1,267$890$617$113
30 years$2,341$1,678$1,180$816$557$95
31 years$2,241$1,586$1,100$750$504$80
32 years$2,147$1,501$1,026$689$456$67
33 years$2,059$1,422$958$634$413$57
34 years$1,977$1,347$895$583$374$48
35 years$1,900$1,278$837$537$338$40
36 years$1,826$1,213$783$494$307$34
37 years$1,758$1,152$733$455$278$28
38 years$1,692$1,095$686$420$252$24
39 years$1,631$1,041$643$387$228$20
40 years$1,572$990$603$357$207$17
41 years$1,517$943$565$329$188$14
42 years$1,464$898$530$304$171$12
43 years$1,414$856$498$281$155$10
44 years$1,366$816$467$259$141$8
45 years$1,321$778$439$239$128$7
46 years$1,278$742$412$221$116$6
47 years$1,236$708$387$204$105$5
48 years$1,197$676$364$189$96$4
49 years$1,159$645$342$174$87$4
50 years$1,123$617$321$161$79$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,150,000, adding $3,378 every year, while hoping to spend $33,346 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: 43/39/18 Blend
57$1,150,000$1,150,000$1,150,000$1,150,000
58$1,270,784$1,209,834$1,192,009$1,318,638
59$1,364,925$1,233,636$1,196,462$1,376,502
60$1,467,549$1,257,487$1,199,946$1,435,615
61$1,579,489$1,281,354$1,202,394$1,498,957
62$1,701,657$1,305,201$1,203,734$1,566,936
63$1,835,060$1,328,989$1,203,893$1,639,996
64$1,980,805$1,352,678$1,202,793$1,718,633
65$2,140,111$1,376,223$1,200,350$1,803,390
66$2,314,320$1,399,576$1,196,479$1,894,867
67$2,504,909$1,422,684$1,191,090$1,993,726
68$2,713,507$1,445,492$1,184,088$2,100,700
69$2,941,903$1,467,940$1,175,374$2,216,592
70$3,192,073$1,489,964$1,164,844$2,342,294
71$3,466,187$1,511,495$1,152,389$2,478,786
72$3,766,640$1,532,460$1,137,896$2,627,151
73$4,096,066$1,552,779$1,121,244$2,788,584
74$4,457,368$1,572,369$1,102,309$2,964,401
75$4,853,743$1,591,139$1,080,961$3,156,058
76$5,288,714$1,608,993$1,057,061$3,365,158
77$5,766,157$1,625,829$1,030,467$3,593,470
78$6,290,347$1,641,536$1,001,030$3,842,947
79$6,865,989$1,655,998$968,591$4,115,742
80$7,498,269$1,669,091$932,988$4,414,231
81$8,192,897$1,680,682$894,048$4,741,033
82$8,956,167$1,690,629$851,593$5,099,040
83$9,795,009$1,698,783$805,434$5,491,440
84$10,717,060$1,704,984$755,377$5,921,751
85$11,730,734$1,709,062$701,216$6,393,850
86$12,845,300$1,710,837$642,737$6,912,018
87$14,070,969$1,710,116$579,717$7,480,974
88$15,418,993$1,706,697$511,923$8,105,922
89$16,901,769$1,700,363$439,111$8,792,603
90$18,532,953$1,690,885$361,025$9,547,348
91$20,327,595$1,678,020$277,400$10,377,138
92$22,302,276$1,661,509$187,959$11,289,675
93$24,475,264$1,641,079$92,412$12,293,449
94$26,866,689$1,616,439$0$13,397,824
95$29,498,730$1,587,283$0$14,614,960
96$32,395,825$1,553,285$0$15,973,469
97$35,584,904$1,514,101$0$17,468,203
98$39,095,637$1,469,364$0$19,113,072
99$42,960,718$1,418,689$0$20,923,409
100$47,216,173$1,361,667$0$22,916,119