Can I retire at age 58 with 1,250,000?

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 $1,250,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$103,224$102,304$101,407$100,532$99,677$98,187
2 years$51,101$50,149$49,227$48,333$47,465$45,968
3 years$33,729$32,773$31,853$30,967$30,114$28,655
4 years$25,045$24,092$23,181$22,310$21,477$20,069
5 years$19,835$18,888$17,989$17,136$16,327$14,972
6 years$16,364$15,424$14,538$13,704$12,919$11,620
7 years$13,885$12,953$12,081$11,267$10,506$9,264
8 years$12,027$11,103$10,246$9,451$8,716$7,529
9 years$10,582$9,667$8,825$8,051$7,340$6,209
10 years$9,427$8,521$7,694$6,940$6,254$5,177
11 years$8,483$7,586$6,773$6,040$5,379$4,355
12 years$7,696$6,809$6,011$5,298$4,661$3,690
13 years$7,031$6,153$5,371$4,677$4,065$3,144
14 years$6,462$5,593$4,825$4,152$3,563$2,692
15 years$5,969$5,109$4,357$3,703$3,137$2,314
16 years$5,538$4,688$3,950$3,315$2,773$1,995
17 years$5,158$4,317$3,594$2,979$2,458$1,726
18 years$4,821$3,989$3,281$2,684$2,186$1,496
19 years$4,519$3,697$3,004$2,426$1,948$1,299
20 years$4,248$3,436$2,757$2,197$1,740$1,131
21 years$4,004$3,200$2,536$1,994$1,557$985
22 years$3,781$2,987$2,337$1,813$1,396$860
23 years$3,579$2,794$2,158$1,651$1,253$751
24 years$3,393$2,618$1,996$1,506$1,126$657
25 years$3,223$2,457$1,848$1,375$1,014$575
26 years$3,066$2,309$1,714$1,257$913$503
27 years$2,921$2,173$1,592$1,151$823$441
28 years$2,786$2,047$1,480$1,054$743$387
29 years$2,661$1,931$1,377$967$671$339
30 years$2,544$1,824$1,283$887$606$298
31 years$2,436$1,724$1,196$815$548$261
32 years$2,334$1,632$1,116$749$496$230
33 years$2,239$1,545$1,042$689$448$202
34 years$2,149$1,464$973$634$406$177
35 years$2,065$1,389$910$583$368$156
36 years$1,985$1,318$851$537$333$137
37 years$1,910$1,252$797$495$302$120
38 years$1,840$1,190$746$456$274$106
39 years$1,772$1,132$699$421$248$93
40 years$1,709$1,077$655$388$225$82
41 years$1,649$1,025$614$358$204$72
42 years$1,591$976$576$330$185$63
43 years$1,537$930$541$305$168$56
44 years$1,485$886$508$282$153$49
45 years$1,436$845$477$260$139$43
46 years$1,389$806$448$240$126$38
47 years$1,344$770$421$222$114$33
48 years$1,301$735$395$205$104$29
49 years$1,260$702$372$190$94$26
50 years$1,220$670$349$175$86$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,250,000, adding $6,793 every year, while hoping to spend $39,178 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: 64/24/12 Blend
57$1,250,000$1,250,000$1,250,000$1,250,000
58$1,384,507$1,318,257$1,298,882$1,468,869
59$1,484,042$1,341,166$1,300,709$1,549,010
60$1,592,416$1,363,885$1,301,285$1,631,342
61$1,710,489$1,386,363$1,300,525$1,720,291
62$1,839,210$1,408,545$1,298,343$1,816,502
63$1,979,618$1,430,373$1,294,647$1,920,683
64$2,132,862$1,451,784$1,289,340$2,033,616
65$2,300,203$1,472,711$1,282,323$2,156,161
66$2,483,032$1,493,081$1,273,488$2,289,267
67$2,682,877$1,512,819$1,262,726$2,433,981
68$2,901,424$1,531,840$1,249,921$2,591,454
69$3,140,527$1,550,058$1,234,951$2,762,959
70$3,402,227$1,567,378$1,217,689$2,949,896
71$3,688,775$1,583,699$1,198,001$3,153,810
72$4,002,644$1,598,915$1,175,749$3,376,401
73$4,346,564$1,612,912$1,150,786$3,619,548
74$4,723,536$1,625,567$1,122,961$3,885,319
75$5,136,869$1,636,752$1,092,112$4,175,993
76$5,590,205$1,646,328$1,058,072$4,494,086
77$6,087,556$1,654,149$1,020,668$4,842,368
78$6,633,342$1,660,058$979,716$5,223,895
79$7,232,432$1,663,889$935,026$5,642,035
80$7,890,187$1,665,467$886,396$6,100,501
81$8,612,514$1,664,603$833,619$6,603,385
82$9,405,922$1,661,099$776,476$7,155,201
83$10,277,577$1,654,744$714,739$7,760,922
84$11,235,376$1,645,313$648,169$8,426,033
85$12,288,020$1,632,569$576,519$9,156,579
86$13,445,093$1,616,260$499,527$9,959,223
87$14,717,154$1,596,118$416,922$10,841,312
88$16,115,835$1,571,860$328,421$11,810,945
89$17,653,955$1,543,185$233,727$12,877,048
90$19,345,633$1,509,776$132,532$14,049,463
91$21,206,428$1,471,295$24,512$15,339,039
92$23,253,482$1,427,387$0$16,757,733
93$25,505,681$1,377,673$0$18,330,349
94$27,983,835$1,321,754$0$20,063,902
95$30,710,873$1,259,206$0$21,971,313
96$33,712,059$1,189,584$0$24,070,289
97$37,015,229$1,112,413$0$26,380,342
98$40,651,055$1,027,195$0$28,922,980
99$44,653,334$933,399$0$31,721,904
100$49,059,305$830,466$0$34,803,238