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

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$96,618$95,757$94,917$94,098$93,297$89,738
2 years$47,830$46,940$46,076$45,239$44,427$40,883
3 years$31,570$30,676$29,814$28,985$28,187$24,769
4 years$23,442$22,550$21,697$20,882$20,103$16,838
5 years$18,566$17,679$16,838$16,040$15,282$12,178
6 years$15,316$14,436$13,608$12,827$12,092$9,152
7 years$12,996$12,124$11,308$10,546$9,834$7,056
8 years$11,257$10,392$9,590$8,847$8,158$5,540
9 years$9,905$9,048$8,260$7,535$6,870$4,408
10 years$8,824$7,976$7,201$6,496$5,854$3,543
11 years$7,940$7,100$6,340$5,653$5,035$2,870
12 years$7,204$6,373$5,626$4,958$4,363$2,339
13 years$6,581$5,759$5,027$4,378$3,805$1,916
14 years$6,048$5,235$4,517$3,886$3,335$1,575
15 years$5,587$4,782$4,078$3,466$2,936$1,299
16 years$5,184$4,388$3,697$3,103$2,595$1,074
17 years$4,828$4,041$3,364$2,788$2,301$890
18 years$4,512$3,734$3,071$2,513$2,046$738
19 years$4,230$3,461$2,812$2,270$1,824$614
20 years$3,976$3,216$2,580$2,056$1,629$511
21 years$3,747$2,995$2,373$1,866$1,458$425
22 years$3,539$2,796$2,187$1,697$1,307$355
23 years$3,350$2,615$2,020$1,545$1,173$296
24 years$3,176$2,450$1,868$1,409$1,054$247
25 years$3,016$2,299$1,730$1,287$949$206
26 years$2,869$2,161$1,605$1,177$855$172
27 years$2,734$2,034$1,490$1,077$770$144
28 years$2,608$1,916$1,385$987$695$120
29 years$2,491$1,808$1,289$905$628$100
30 years$2,382$1,707$1,201$831$567$84
31 years$2,280$1,614$1,119$763$513$70
32 years$2,185$1,527$1,044$701$464$59
33 years$2,095$1,446$975$645$420$49
34 years$2,011$1,371$911$593$380$41
35 years$1,933$1,300$852$546$344$34
36 years$1,858$1,234$797$503$312$29
37 years$1,788$1,172$746$463$283$24
38 years$1,722$1,114$698$427$256$20
39 years$1,659$1,059$654$394$232$17
40 years$1,600$1,008$613$363$211$14
41 years$1,543$959$575$335$191$12
42 years$1,490$914$539$309$174$10
43 years$1,439$870$506$286$157$8
44 years$1,390$830$475$264$143$7
45 years$1,344$791$446$243$130$6
46 years$1,300$755$419$225$118$5
47 years$1,258$720$394$208$107$4
48 years$1,218$688$370$192$97$3
49 years$1,179$657$348$177$88$3
50 years$1,142$627$327$164$80$2

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 $2,185 every year, while hoping to spend $38,566 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: 70/23/7 Blend
57$1,170,000$1,170,000$1,170,000$1,170,000
58$1,291,594$1,229,584$1,211,449$1,380,448
59$1,382,302$1,248,800$1,210,998$1,458,704
60$1,480,971$1,267,664$1,209,240$1,539,351
61$1,588,370$1,286,120$1,206,090$1,626,537
62$1,705,349$1,304,105$1,201,459$1,720,896
63$1,832,841$1,321,552$1,195,254$1,823,124
64$1,971,873$1,338,391$1,187,378$1,933,991
65$2,123,578$1,354,546$1,177,729$2,054,344
66$2,289,200$1,369,936$1,166,200$2,185,116
67$2,470,109$1,384,473$1,152,678$2,327,335
68$2,667,814$1,398,067$1,137,047$2,482,135
69$2,883,977$1,410,617$1,119,184$2,650,764
70$3,120,425$1,422,021$1,098,959$2,834,598
71$3,379,174$1,432,164$1,076,239$3,035,155
72$3,662,439$1,440,930$1,050,883$3,254,105
73$3,972,663$1,448,190$1,022,742$3,493,292
74$4,312,534$1,453,811$991,664$3,754,746
75$4,685,014$1,457,650$957,486$4,040,706
76$5,093,363$1,459,553$920,040$4,353,637
77$5,541,175$1,459,359$879,150$4,696,261
78$6,032,404$1,456,897$834,631$5,071,572
79$6,571,409$1,451,985$786,290$5,482,876
80$7,162,989$1,444,428$733,927$5,933,814
81$7,812,430$1,434,022$677,331$6,428,398
82$8,525,558$1,420,548$616,281$6,971,055
83$9,308,786$1,403,777$550,548$7,566,660
84$10,169,183$1,383,463$479,892$8,220,589
85$11,114,534$1,359,347$404,062$8,938,766
86$12,153,416$1,331,154$322,798$9,727,725
87$13,295,277$1,298,593$235,824$10,594,662
88$14,550,528$1,261,357$142,857$11,547,515
89$15,930,637$1,219,119$43,598$12,595,029
90$17,448,240$1,171,533$0$13,746,847
91$19,117,257$1,118,236$0$15,018,252
92$20,953,028$1,058,839$0$16,420,079
93$22,972,450$992,935$0$17,962,006
94$25,194,142$920,092$0$19,658,291
95$27,638,621$839,852$0$21,524,651
96$30,328,488$751,733$0$23,578,404
97$33,288,649$655,224$0$25,838,639
98$36,546,547$549,785$0$28,326,396
99$40,132,418$434,848$0$31,064,860
100$44,079,578$309,809$0$34,079,588