Can I retire at age 58 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$95,792$94,938$94,106$93,293$92,500$89,076
2 years$47,422$46,538$45,683$44,853$44,048$40,637
3 years$31,300$30,413$29,560$28,738$27,946$24,655
4 years$23,241$22,357$21,512$20,704$19,931$16,786
5 years$18,407$17,528$16,694$15,902$15,151$12,160
6 years$15,185$14,313$13,491$12,717$11,989$9,153
7 years$12,885$12,020$11,211$10,456$9,750$7,069
8 years$11,161$10,303$9,508$8,771$8,089$5,560
9 years$9,820$8,971$8,189$7,471$6,812$4,433
10 years$8,748$7,908$7,140$6,440$5,804$3,570
11 years$7,872$7,040$6,286$5,605$4,992$2,897
12 years$7,142$6,318$5,578$4,916$4,326$2,366
13 years$6,525$5,710$4,984$4,340$3,772$1,942
14 years$5,997$5,190$4,478$3,853$3,307$1,600
15 years$5,539$4,741$4,043$3,436$2,911$1,322
16 years$5,139$4,350$3,666$3,077$2,573$1,095
17 years$4,787$4,006$3,336$2,764$2,281$910
18 years$4,474$3,702$3,045$2,491$2,029$757
19 years$4,194$3,431$2,788$2,251$1,808$630
20 years$3,942$3,188$2,558$2,039$1,615$526
21 years$3,715$2,970$2,353$1,850$1,445$439
22 years$3,509$2,772$2,169$1,682$1,295$367
23 years$3,321$2,593$2,002$1,532$1,163$306
24 years$3,149$2,429$1,852$1,397$1,045$256
25 years$2,991$2,280$1,715$1,276$941$215
26 years$2,845$2,143$1,591$1,167$847$180
27 years$2,710$2,016$1,477$1,068$764$150
28 years$2,585$1,900$1,373$979$689$126
29 years$2,469$1,792$1,278$897$622$106
30 years$2,361$1,693$1,190$824$562$89
31 years$2,260$1,600$1,110$756$508$74
32 years$2,166$1,514$1,035$695$460$62
33 years$2,077$1,434$967$639$416$52
34 years$1,994$1,359$903$588$377$44
35 years$1,916$1,289$844$541$341$37
36 years$1,842$1,223$790$499$309$31
37 years$1,773$1,162$739$459$280$26
38 years$1,707$1,104$692$423$254$22
39 years$1,645$1,050$649$390$230$18
40 years$1,586$999$608$360$209$15
41 years$1,530$951$570$332$190$13
42 years$1,477$906$535$307$172$11
43 years$1,426$863$502$283$156$9
44 years$1,378$823$471$261$142$8
45 years$1,332$784$442$241$129$6
46 years$1,289$748$415$223$117$5
47 years$1,247$714$390$206$106$4
48 years$1,207$682$367$190$96$4
49 years$1,169$651$345$176$87$3
50 years$1,133$622$324$163$79$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,160,000, adding $4,082 every year, while hoping to spend $28,260 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: 52/41/7 Blend
57$1,160,000$1,160,000$1,160,000$1,160,000
58$1,282,531$1,221,051$1,203,071$1,346,821
59$1,383,280$1,250,814$1,213,305$1,420,683
60$1,493,359$1,281,088$1,222,935$1,497,552
61$1,613,689$1,311,869$1,231,911$1,580,467
62$1,745,285$1,343,150$1,240,180$1,670,005
63$1,889,265$1,374,924$1,247,686$1,766,798
64$2,046,858$1,407,184$1,254,371$1,871,544
65$2,219,419$1,439,917$1,260,174$1,985,011
66$2,408,441$1,473,114$1,265,031$2,108,043
67$2,615,566$1,506,761$1,268,874$2,241,572
68$2,842,604$1,540,843$1,271,632$2,386,623
69$3,091,547$1,575,342$1,273,230$2,544,326
70$3,364,592$1,610,241$1,273,589$2,715,924
71$3,664,155$1,645,517$1,272,629$2,902,789
72$3,992,899$1,681,147$1,270,262$3,106,429
73$4,353,757$1,717,106$1,266,399$3,328,508
74$4,749,961$1,753,365$1,260,944$3,570,859
75$5,185,069$1,789,892$1,253,798$3,835,500
76$5,663,003$1,826,654$1,244,856$4,124,657
77$6,188,081$1,863,612$1,234,011$4,440,779
78$6,765,062$1,900,725$1,221,147$4,786,569
79$7,399,188$1,937,950$1,206,145$5,165,002
80$8,096,233$1,975,238$1,188,879$5,579,358
81$8,862,560$2,012,536$1,169,218$6,033,250
82$9,705,179$2,049,788$1,147,024$6,530,662
83$10,631,812$2,086,932$1,122,154$7,075,981
84$11,650,967$2,123,902$1,094,457$7,674,046
85$12,772,020$2,160,628$1,063,775$8,330,184
86$14,005,299$2,197,031$1,029,944$9,050,272
87$15,362,184$2,233,030$992,792$9,840,782
88$16,855,214$2,268,536$952,138$10,708,848
89$18,498,205$2,303,454$907,794$11,662,332
90$20,306,380$2,337,680$859,563$12,709,901
91$22,296,511$2,371,107$807,238$13,861,104
92$24,487,080$2,403,616$750,606$15,126,466
93$26,898,451$2,435,083$689,440$16,517,585
94$29,553,064$2,465,373$623,507$18,047,247
95$32,475,642$2,494,342$552,561$19,729,540
96$35,693,431$2,521,838$476,345$21,579,992
97$39,236,451$2,547,698$394,592$23,615,716
98$43,137,780$2,571,746$307,022$25,855,575
99$47,433,871$2,593,799$213,344$28,320,353
100$52,164,887$2,613,657$113,253$31,032,962