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%17.6%
1 years$99,921$99,031$98,162$97,315$96,487$93,511
2 years$49,466$48,544$47,652$46,786$45,946$42,974
3 years$32,650$31,724$30,834$29,976$29,150$26,275
4 years$24,243$23,321$22,439$21,596$20,790$18,034
5 years$19,201$18,284$17,414$16,588$15,804$13,174
6 years$15,840$14,930$14,073$13,265$12,505$10,004
7 years$13,441$12,538$11,695$10,906$10,170$7,798
8 years$11,642$10,748$9,918$9,149$8,437$6,192
9 years$10,243$9,358$8,542$7,793$7,105$4,984
10 years$9,125$8,248$7,447$6,718$6,054$4,055
11 years$8,211$7,343$6,557$5,846$5,207$3,325
12 years$7,450$6,591$5,819$5,128$4,512$2,745
13 years$6,806$5,956$5,199$4,527$3,935$2,277
14 years$6,255$5,414$4,671$4,019$3,449$1,897
15 years$5,778$4,946$4,217$3,584$3,037$1,586
16 years$5,361$4,538$3,824$3,209$2,684$1,329
17 years$4,993$4,179$3,479$2,883$2,380$1,117
18 years$4,667$3,862$3,176$2,599$2,116$940
19 years$4,375$3,579$2,908$2,348$1,886$793
20 years$4,112$3,326$2,668$2,127$1,685$669
21 years$3,875$3,098$2,455$1,930$1,508$566
22 years$3,660$2,892$2,262$1,755$1,351$478
23 years$3,464$2,704$2,089$1,598$1,213$405
24 years$3,285$2,534$1,932$1,458$1,090$343
25 years$3,120$2,378$1,789$1,331$981$291
26 years$2,968$2,235$1,659$1,217$884$247
27 years$2,827$2,103$1,541$1,114$797$209
28 years$2,697$1,982$1,432$1,021$719$178
29 years$2,576$1,870$1,333$936$649$151
30 years$2,463$1,766$1,242$859$587$128
31 years$2,358$1,669$1,158$789$530$109
32 years$2,259$1,579$1,080$725$480$92
33 years$2,167$1,496$1,008$667$434$79
34 years$2,080$1,418$942$613$393$67
35 years$1,999$1,345$881$565$356$57
36 years$1,922$1,276$824$520$323$48
37 years$1,849$1,212$771$479$292$41
38 years$1,781$1,152$722$442$265$35
39 years$1,716$1,095$677$407$240$30
40 years$1,654$1,042$634$376$218$25
41 years$1,596$992$595$347$198$21
42 years$1,541$945$558$320$179$18
43 years$1,488$900$524$295$163$15
44 years$1,438$858$491$273$148$13
45 years$1,390$818$461$252$134$11
46 years$1,344$781$433$233$122$10
47 years$1,301$745$407$215$111$8
48 years$1,259$711$383$199$100$7
49 years$1,219$679$360$183$91$6
50 years$1,181$649$338$170$83$5

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 $6,295 every year, while hoping to spend $31,462 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: 65/28/7 Blend
57$1,210,000$1,210,000$1,210,000$1,210,000
58$1,339,913$1,275,783$1,257,028$1,424,908
59$1,443,109$1,304,821$1,265,663$1,511,273
60$1,555,776$1,334,228$1,273,533$1,601,270
61$1,678,848$1,363,987$1,280,579$1,698,766
62$1,813,351$1,394,083$1,286,739$1,804,489
63$1,960,416$1,424,497$1,291,948$1,919,237
64$2,121,288$1,455,207$1,296,138$2,043,891
65$2,297,338$1,486,190$1,299,237$2,179,421
66$2,490,074$1,517,421$1,301,169$2,326,896
67$2,701,160$1,548,873$1,301,856$2,487,492
68$2,932,425$1,580,514$1,301,215$2,662,506
69$3,185,885$1,612,312$1,299,158$2,853,365
70$3,463,759$1,644,230$1,295,595$3,061,642
71$3,768,494$1,676,228$1,290,428$3,289,071
72$4,102,782$1,708,265$1,283,559$3,537,560
73$4,469,589$1,740,293$1,274,882$3,809,213
74$4,872,183$1,772,263$1,264,286$4,106,349
75$5,314,162$1,804,121$1,251,656$4,431,520
76$5,799,491$1,835,807$1,236,871$4,787,542
77$6,332,537$1,867,260$1,219,804$5,177,513
78$6,918,111$1,898,410$1,200,323$5,604,852
79$7,561,513$1,929,187$1,178,288$6,073,322
80$8,268,581$1,959,511$1,153,554$6,587,074
81$9,045,747$1,989,298$1,125,969$7,150,678
82$9,900,098$2,018,458$1,095,374$7,769,173
83$10,839,441$2,046,895$1,061,602$8,448,111
84$11,872,377$2,074,506$1,024,479$9,193,610
85$13,008,383$2,101,181$983,822$10,012,413
86$14,257,900$2,126,800$939,442$10,911,951
87$15,632,431$2,151,239$891,139$11,900,412
88$17,144,652$2,174,363$838,705$12,986,822
89$18,808,527$2,196,027$781,922$14,181,124
90$20,639,444$2,216,080$720,564$15,494,281
91$22,654,356$2,234,357$654,392$16,938,371
92$24,871,945$2,250,684$583,158$18,526,706
93$27,312,793$2,264,878$506,604$20,273,958
94$29,999,581$2,276,740$424,458$22,196,295
95$32,957,299$2,286,061$336,438$24,311,536
96$36,213,484$2,292,618$242,249$26,639,318
97$39,798,477$2,296,175$141,583$29,201,285
98$43,745,714$2,296,479$34,118$32,021,287
99$48,092,034$2,293,264$0$35,125,612
100$52,878,033$2,286,245$0$38,549,247