Can I retire at age 58 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$99,921$99,031$98,162$97,315$96,487$95,006
2 years$49,466$48,544$47,652$46,786$45,946$44,458
3 years$32,650$31,724$30,834$29,976$29,150$27,700
4 years$24,243$23,321$22,439$21,596$20,790$19,390
5 years$19,201$18,284$17,414$16,588$15,804$14,459
6 years$15,840$14,930$14,073$13,265$12,505$11,215
7 years$13,441$12,538$11,695$10,906$10,170$8,936
8 years$11,642$10,748$9,918$9,149$8,437$7,259
9 years$10,243$9,358$8,542$7,793$7,105$5,982
10 years$9,125$8,248$7,447$6,718$6,054$4,985
11 years$8,211$7,343$6,557$5,846$5,207$4,191
12 years$7,450$6,591$5,819$5,128$4,512$3,549
13 years$6,806$5,956$5,199$4,527$3,935$3,022
14 years$6,255$5,414$4,671$4,019$3,449$2,585
15 years$5,778$4,946$4,217$3,584$3,037$2,221
16 years$5,361$4,538$3,824$3,209$2,684$1,914
17 years$4,993$4,179$3,479$2,883$2,380$1,654
18 years$4,667$3,862$3,176$2,599$2,116$1,433
19 years$4,375$3,579$2,908$2,348$1,886$1,244
20 years$4,112$3,326$2,668$2,127$1,685$1,081
21 years$3,875$3,098$2,455$1,930$1,508$942
22 years$3,660$2,892$2,262$1,755$1,351$821
23 years$3,464$2,704$2,089$1,598$1,213$717
24 years$3,285$2,534$1,932$1,458$1,090$626
25 years$3,120$2,378$1,789$1,331$981$547
26 years$2,968$2,235$1,659$1,217$884$479
27 years$2,827$2,103$1,541$1,114$797$419
28 years$2,697$1,982$1,432$1,021$719$368
29 years$2,576$1,870$1,333$936$649$322
30 years$2,463$1,766$1,242$859$587$282
31 years$2,358$1,669$1,158$789$530$248
32 years$2,259$1,579$1,080$725$480$217
33 years$2,167$1,496$1,008$667$434$191
34 years$2,080$1,418$942$613$393$168
35 years$1,999$1,345$881$565$356$147
36 years$1,922$1,276$824$520$323$129
37 years$1,849$1,212$771$479$292$114
38 years$1,781$1,152$722$442$265$100
39 years$1,716$1,095$677$407$240$88
40 years$1,654$1,042$634$376$218$77
41 years$1,596$992$595$347$198$68
42 years$1,541$945$558$320$179$59
43 years$1,488$900$524$295$163$52
44 years$1,438$858$491$273$148$46
45 years$1,390$818$461$252$134$40
46 years$1,344$781$433$233$122$36
47 years$1,301$745$407$215$111$31
48 years$1,259$711$383$199$100$27
49 years$1,219$679$360$183$91$24
50 years$1,181$649$338$170$83$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,210,000, adding $2,941 every year, while hoping to spend $53,773 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: 66/16/18 Blend
57$1,210,000$1,210,000$1,210,000$1,210,000
58$1,336,454$1,272,324$1,253,569$1,418,531
59$1,415,558$1,277,453$1,238,349$1,478,987
60$1,500,928$1,281,032$1,220,818$1,538,564
61$1,593,148$1,282,928$1,200,840$1,602,390
62$1,692,856$1,282,998$1,178,275$1,670,879
63$1,800,757$1,281,094$1,152,976$1,744,492
64$1,917,623$1,277,057$1,124,790$1,823,735
65$2,044,304$1,270,717$1,093,555$1,909,170
66$2,181,737$1,261,895$1,059,102$2,001,414
67$2,330,948$1,250,403$1,021,256$2,101,150
68$2,493,069$1,236,037$979,833$2,209,135
69$2,669,344$1,218,584$934,639$2,326,200
70$2,861,142$1,197,820$885,474$2,453,266
71$3,069,968$1,173,502$832,127$2,591,350
72$3,297,479$1,145,378$774,378$2,741,572
73$3,545,499$1,113,179$711,997$2,905,172
74$3,816,036$1,076,620$644,744$3,083,517
75$4,111,297$1,035,400$572,368$3,278,117
76$4,433,714$989,200$494,608$3,490,638
77$4,785,965$937,682$411,189$3,722,920
78$5,170,995$880,491$321,826$3,976,993
79$5,592,050$817,248$226,220$4,255,098
80$6,052,701$747,555$124,060$4,559,709
81$6,556,882$670,991$15,022$4,893,555
82$7,108,924$587,109$0$5,259,650
83$7,713,596$495,439$0$5,680,780
84$8,376,151$395,484$0$6,145,495
85$9,102,373$286,717$0$6,655,026
86$9,898,633$168,585$0$7,213,911
87$10,771,948$40,500$0$7,827,156
88$11,730,046$0$0$8,500,278
89$12,781,440$0$0$9,256,639
90$13,935,506$0$0$10,094,768
91$15,202,574$0$0$11,015,047
92$16,594,020$0$0$12,025,748
93$18,122,378$0$0$13,135,986
94$19,801,456$0$0$14,355,802
95$21,646,464$0$0$15,696,258
96$23,674,157$0$0$17,169,539
97$25,902,998$0$0$18,789,071
98$28,353,324$0$0$20,569,645
99$31,047,543$0$0$22,527,557
100$34,010,340$0$0$24,680,759