Can I retire at age 58 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$98,269$97,394$96,540$95,706$94,892$92,002
2 years$48,648$47,742$46,864$46,013$45,187$42,300
3 years$32,110$31,200$30,324$29,481$28,668$25,875
4 years$23,842$22,935$22,068$21,239$20,447$17,768
5 years$18,883$17,982$17,126$16,314$15,543$12,987
6 years$15,578$14,683$13,840$13,046$12,299$9,868
7 years$13,218$12,331$11,501$10,726$10,002$7,695
8 years$11,449$10,570$9,754$8,998$8,298$6,114
9 years$10,074$9,203$8,401$7,664$6,988$4,925
10 years$8,975$8,112$7,324$6,607$5,954$4,009
11 years$8,076$7,222$6,448$5,750$5,121$3,290
12 years$7,327$6,482$5,723$5,043$4,437$2,717
13 years$6,694$5,858$5,113$4,452$3,870$2,256
14 years$6,152$5,324$4,594$3,952$3,392$1,881
15 years$5,682$4,864$4,148$3,525$2,987$1,573
16 years$5,272$4,463$3,760$3,156$2,640$1,320
17 years$4,910$4,110$3,422$2,836$2,340$1,110
18 years$4,589$3,798$3,124$2,556$2,081$935
19 years$4,302$3,520$2,860$2,309$1,855$789
20 years$4,044$3,271$2,624$2,091$1,657$666
21 years$3,811$3,046$2,414$1,898$1,483$564
22 years$3,600$2,844$2,225$1,726$1,329$477
23 years$3,407$2,660$2,054$1,572$1,193$404
24 years$3,230$2,492$1,900$1,433$1,072$343
25 years$3,068$2,339$1,760$1,309$965$291
26 years$2,919$2,198$1,632$1,197$869$247
27 years$2,780$2,069$1,515$1,096$784$210
28 years$2,652$1,949$1,409$1,004$707$178
29 years$2,533$1,839$1,311$921$638$151
30 years$2,422$1,737$1,221$845$577$129
31 years$2,319$1,642$1,138$776$522$109
32 years$2,222$1,553$1,062$713$472$93
33 years$2,131$1,471$992$656$427$79
34 years$2,046$1,394$927$603$387$67
35 years$1,966$1,322$866$555$350$57
36 years$1,890$1,255$810$512$317$49
37 years$1,819$1,192$759$471$288$41
38 years$1,751$1,133$710$434$261$35
39 years$1,687$1,077$666$401$236$30
40 years$1,627$1,025$624$369$214$25
41 years$1,570$976$585$341$195$22
42 years$1,515$929$549$315$176$18
43 years$1,463$885$515$290$160$16
44 years$1,414$844$483$268$145$13
45 years$1,367$805$454$248$132$11
46 years$1,322$768$426$229$120$10
47 years$1,279$733$400$211$109$8
48 years$1,238$699$376$195$99$7
49 years$1,199$668$354$180$90$6
50 years$1,162$638$333$167$82$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,190,000, adding $2,092 every year, while hoping to spend $46,297 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: 54/40/6 Blend
57$1,190,000$1,190,000$1,190,000$1,190,000
58$1,313,538$1,250,468$1,232,023$1,382,589
59$1,398,259$1,262,481$1,224,036$1,441,493
60$1,490,070$1,273,531$1,214,230$1,500,276
61$1,589,645$1,283,523$1,202,495$1,563,118
62$1,697,726$1,292,352$1,188,715$1,630,412
63$1,815,129$1,299,912$1,172,772$1,702,590
64$1,942,749$1,306,085$1,154,537$1,780,129
65$2,081,575$1,310,749$1,133,880$1,863,556
66$2,232,693$1,313,772$1,110,661$1,953,455
67$2,397,296$1,315,015$1,084,737$2,050,469
68$2,576,700$1,314,331$1,055,955$2,155,310
69$2,772,352$1,311,562$1,024,159$2,268,762
70$2,985,845$1,306,541$989,181$2,391,694
71$3,218,931$1,299,092$950,849$2,525,064
72$3,473,541$1,289,027$908,981$2,669,930
73$3,751,799$1,276,146$863,389$2,827,462
74$4,056,044$1,260,238$813,874$2,998,951
75$4,388,852$1,241,081$760,229$3,185,822
76$4,753,056$1,218,436$702,239$3,389,651
77$5,151,781$1,192,052$639,677$3,612,175
78$5,588,464$1,161,664$572,307$3,855,316
79$6,066,892$1,126,989$499,883$4,121,193
80$6,591,233$1,087,731$422,148$4,412,146
81$7,166,082$1,043,572$338,833$4,730,760
82$7,796,495$994,180$249,657$5,079,887
83$8,488,044$939,201$154,326$5,462,676
84$9,246,864$878,262$52,536$5,882,603
85$10,079,714$810,967$0$6,343,505
86$10,994,041$736,900$0$6,853,207
87$11,998,043$655,618$0$7,416,616
88$13,100,756$566,656$0$8,035,544
89$14,312,131$469,520$0$8,715,708
90$15,643,133$363,691$0$9,463,411
91$17,105,838$248,617$0$10,285,613
92$18,713,553$123,719$0$11,189,986
93$20,480,937$0$0$12,184,997
94$22,424,139$0$0$13,285,098
95$24,560,955$0$0$14,554,814
96$26,910,986$0$0$15,951,351
97$29,495,832$0$0$17,487,562
98$32,339,290$0$0$19,177,605
99$35,467,579$0$0$21,037,082
100$38,909,589$0$0$23,083,181