Can I retire at age 58 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$96,618$95,757$94,917$94,098$93,297$90,968
2 years$47,830$46,940$46,076$45,239$44,427$42,095
3 years$31,570$30,676$29,814$28,985$28,187$25,925
4 years$23,442$22,550$21,697$20,882$20,103$17,929
5 years$18,566$17,679$16,838$16,040$15,282$13,201
6 years$15,316$14,436$13,608$12,827$12,092$10,107
7 years$12,996$12,124$11,308$10,546$9,834$7,945
8 years$11,257$10,392$9,590$8,847$8,158$6,365
9 years$9,905$9,048$8,260$7,535$6,870$5,171
10 years$8,824$7,976$7,201$6,496$5,854$4,246
11 years$7,940$7,100$6,340$5,653$5,035$3,516
12 years$7,204$6,373$5,626$4,958$4,363$2,931
13 years$6,581$5,759$5,027$4,378$3,805$2,456
14 years$6,048$5,235$4,517$3,886$3,335$2,067
15 years$5,587$4,782$4,078$3,466$2,936$1,746
16 years$5,184$4,388$3,697$3,103$2,595$1,480
17 years$4,828$4,041$3,364$2,788$2,301$1,257
18 years$4,512$3,734$3,071$2,513$2,046$1,070
19 years$4,230$3,461$2,812$2,270$1,824$912
20 years$3,976$3,216$2,580$2,056$1,629$779
21 years$3,747$2,995$2,373$1,866$1,458$666
22 years$3,539$2,796$2,187$1,697$1,307$570
23 years$3,350$2,615$2,020$1,545$1,173$488
24 years$3,176$2,450$1,868$1,409$1,054$419
25 years$3,016$2,299$1,730$1,287$949$359
26 years$2,869$2,161$1,605$1,177$855$308
27 years$2,734$2,034$1,490$1,077$770$265
28 years$2,608$1,916$1,385$987$695$228
29 years$2,491$1,808$1,289$905$628$196
30 years$2,382$1,707$1,201$831$567$168
31 years$2,280$1,614$1,119$763$513$145
32 years$2,185$1,527$1,044$701$464$124
33 years$2,095$1,446$975$645$420$107
34 years$2,011$1,371$911$593$380$92
35 years$1,933$1,300$852$546$344$79
36 years$1,858$1,234$797$503$312$68
37 years$1,788$1,172$746$463$283$59
38 years$1,722$1,114$698$427$256$51
39 years$1,659$1,059$654$394$232$44
40 years$1,600$1,008$613$363$211$37
41 years$1,543$959$575$335$191$32
42 years$1,490$914$539$309$174$28
43 years$1,439$870$506$286$157$24
44 years$1,390$830$475$264$143$21
45 years$1,344$791$446$243$130$18
46 years$1,300$755$419$225$118$15
47 years$1,258$720$394$208$107$13
48 years$1,218$688$370$192$97$11
49 years$1,179$657$348$177$88$10
50 years$1,142$627$327$164$80$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,170,000, adding $4,163 every year, while hoping to spend $55,174 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: 53/35/12 Blend
57$1,170,000$1,170,000$1,170,000$1,170,000
58$1,293,634$1,231,624$1,213,489$1,357,925
59$1,366,880$1,233,269$1,195,436$1,403,809
60$1,445,748$1,233,145$1,174,930$1,447,423
61$1,530,753$1,231,108$1,151,828$1,493,602
62$1,622,461$1,227,003$1,125,986$1,542,601
63$1,721,493$1,220,668$1,097,248$1,594,704
64$1,828,534$1,211,929$1,065,454$1,650,228
65$1,944,333$1,200,602$1,030,435$1,709,523
66$2,069,717$1,186,493$992,016$1,772,977
67$2,205,591$1,169,395$950,013$1,841,022
68$2,352,956$1,149,090$904,232$1,914,137
69$2,512,906$1,125,344$854,473$1,992,852
70$2,686,650$1,097,914$800,525$2,077,757
71$2,875,515$1,066,538$742,170$2,169,505
72$3,080,962$1,030,942$679,176$2,268,818
73$3,304,596$990,835$611,305$2,376,499
74$3,548,186$945,907$538,305$2,493,437
75$3,813,678$895,834$459,915$2,620,615
76$4,103,213$840,269$375,862$2,759,124
77$4,419,148$778,849$285,860$2,910,172
78$4,764,076$711,188$189,611$3,075,095
79$5,140,853$636,877$86,805$3,255,374
80$5,552,623$555,487$0$3,452,645
81$6,002,847$466,562$0$3,671,654
82$6,495,335$369,621$0$3,923,527
83$7,034,283$264,157$0$4,199,399
84$7,624,311$149,632$0$4,501,773
85$8,270,507$25,480$0$4,833,412
86$8,978,473$0$0$5,197,368
87$9,754,379$0$0$5,638,953
88$10,605,021$0$0$6,133,946
89$11,537,882$0$0$6,676,903
90$12,561,207$0$0$7,272,636
91$13,684,075$0$0$7,926,446
92$14,916,486$0$0$8,644,173
93$16,269,457$0$0$9,432,249
94$17,755,123$0$0$10,297,759
95$19,386,852$0$0$11,248,509
96$21,179,369$0$0$12,293,098
97$23,148,898$0$0$13,440,997
98$25,313,309$0$0$14,702,644
99$27,692,292$0$0$16,089,534
100$30,307,537$0$0$17,614,335