Can I retire at age 58 with 1,280,000?

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 $1,280,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$105,701$104,760$103,841$102,944$102,069$100,090
2 years$52,327$51,353$50,408$49,493$48,604$46,619
3 years$34,538$33,560$32,618$31,710$30,837$28,906
4 years$25,646$24,670$23,737$22,846$21,993$20,132
5 years$20,311$19,341$18,421$17,548$16,719$14,933
6 years$16,756$15,794$14,887$14,033$13,229$11,521
7 years$14,218$13,264$12,371$11,537$10,759$9,128
8 years$12,315$11,369$10,492$9,678$8,925$7,372
9 years$10,836$9,899$9,036$8,244$7,516$6,040
10 years$9,653$8,726$7,878$7,106$6,404$5,002
11 years$8,686$7,768$6,936$6,185$5,508$4,179
12 years$7,881$6,972$6,155$5,425$4,773$3,516
13 years$7,200$6,301$5,499$4,789$4,162$2,974
14 years$6,617$5,727$4,941$4,251$3,649$2,527
15 years$6,112$5,232$4,461$3,791$3,212$2,156
16 years$5,671$4,800$4,045$3,395$2,839$1,845
17 years$5,282$4,421$3,681$3,050$2,517$1,583
18 years$4,936$4,085$3,360$2,749$2,238$1,361
19 years$4,628$3,786$3,076$2,484$1,995$1,173
20 years$4,350$3,518$2,823$2,250$1,782$1,012
21 years$4,100$3,277$2,596$2,042$1,595$875
22 years$3,872$3,059$2,393$1,856$1,429$757
23 years$3,664$2,861$2,210$1,691$1,283$656
24 years$3,475$2,680$2,043$1,542$1,153$568
25 years$3,300$2,515$1,893$1,408$1,038$493
26 years$3,139$2,364$1,755$1,288$935$428
27 years$2,991$2,225$1,630$1,179$843$372
28 years$2,853$2,097$1,515$1,080$761$323
29 years$2,725$1,978$1,410$990$687$281
30 years$2,606$1,868$1,313$909$621$244
31 years$2,494$1,766$1,225$835$561$213
32 years$2,390$1,671$1,142$767$507$185
33 years$2,292$1,582$1,067$705$459$161
34 years$2,201$1,500$997$649$416$140
35 years$2,114$1,422$932$597$377$122
36 years$2,033$1,350$872$550$341$106
37 years$1,956$1,282$816$507$309$93
38 years$1,884$1,219$764$467$280$81
39 years$1,815$1,159$716$431$254$70
40 years$1,750$1,102$671$397$231$61
41 years$1,688$1,049$629$367$209$53
42 years$1,630$999$590$338$190$46
43 years$1,574$952$554$312$172$41
44 years$1,521$908$520$288$156$35
45 years$1,470$866$488$266$142$31
46 years$1,422$826$458$246$129$27
47 years$1,376$788$431$227$117$23
48 years$1,332$752$405$210$106$20
49 years$1,290$718$380$194$97$18
50 years$1,250$686$358$179$88$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,280,000, adding $2,189 every year, while hoping to spend $46,106 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: 47/35/18 Blend
57$1,280,000$1,280,000$1,280,000$1,280,000
58$1,412,818$1,344,978$1,325,138$1,471,918
59$1,507,869$1,361,825$1,320,474$1,530,116
60$1,611,070$1,377,953$1,314,108$1,588,415
61$1,723,203$1,393,277$1,305,935$1,650,713
62$1,845,130$1,407,708$1,295,844$1,717,402
63$1,977,798$1,421,150$1,283,719$1,788,916
64$2,122,248$1,433,501$1,269,438$1,865,735
65$2,279,628$1,444,653$1,252,875$1,948,389
66$2,451,199$1,454,490$1,233,895$2,037,466
67$2,638,350$1,462,889$1,212,360$2,133,613
68$2,842,610$1,469,719$1,188,122$2,237,548
69$3,065,663$1,474,841$1,161,030$2,350,061
70$3,309,359$1,478,107$1,130,923$2,472,029
71$3,575,739$1,479,360$1,097,635$2,604,420
72$3,867,047$1,478,432$1,060,988$2,748,302
73$4,185,756$1,475,145$1,020,802$2,904,856
74$4,534,588$1,469,312$976,884$3,075,388
75$4,916,541$1,460,733$929,034$3,261,340
76$5,334,914$1,449,195$877,043$3,464,305
77$5,793,344$1,434,474$820,692$3,686,042
78$6,295,832$1,416,331$759,753$3,928,495
79$6,846,789$1,394,513$693,986$4,193,811
80$7,451,070$1,368,753$623,144$4,484,360
81$8,114,024$1,338,766$546,964$4,802,760
82$8,841,542$1,304,253$465,174$5,151,901
83$9,640,114$1,264,896$377,492$5,534,976
84$10,516,886$1,220,357$283,619$5,955,507
85$11,479,734$1,170,280$183,246$6,417,385
86$12,537,332$1,114,288$76,049$6,924,905
87$13,699,235$1,051,983$0$7,482,805
88$14,975,969$982,942$0$8,103,684
89$16,379,131$906,720$0$8,802,016
90$17,921,498$822,845$0$9,569,625
91$19,617,144$730,818$0$10,413,616
92$21,481,578$630,113$0$11,341,828
93$23,531,884$520,173$0$12,362,904
94$25,786,885$400,411$0$13,486,379
95$28,267,321$270,205$0$14,722,765
96$30,996,042$128,899$0$16,083,656
97$33,998,224$0$0$17,581,837
98$37,301,607$0$0$19,240,726
99$40,936,755$0$0$21,121,018
100$44,937,346$0$0$23,190,509