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

Use the below retirement simulation to view the chances of a successful retirement.
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%16.1%
1 years$105,701$104,760$103,841$102,944$102,069$99,521
2 years$52,327$51,353$50,408$49,493$48,604$46,053
3 years$34,538$33,560$32,618$31,710$30,837$28,362
4 years$25,646$24,670$23,737$22,846$21,993$19,614
5 years$20,311$19,341$18,421$17,548$16,719$14,443
6 years$16,756$15,794$14,887$14,033$13,229$11,058
7 years$14,218$13,264$12,371$11,537$10,759$8,692
8 years$12,315$11,369$10,492$9,678$8,925$6,963
9 years$10,836$9,899$9,036$8,244$7,516$5,657
10 years$9,653$8,726$7,878$7,106$6,404$4,645
11 years$8,686$7,768$6,936$6,185$5,508$3,846
12 years$7,881$6,972$6,155$5,425$4,773$3,206
13 years$7,200$6,301$5,499$4,789$4,162$2,687
14 years$6,617$5,727$4,941$4,251$3,649$2,262
15 years$6,112$5,232$4,461$3,791$3,212$1,911
16 years$5,671$4,800$4,045$3,395$2,839$1,619
17 years$5,282$4,421$3,681$3,050$2,517$1,375
18 years$4,936$4,085$3,360$2,749$2,238$1,171
19 years$4,628$3,786$3,076$2,484$1,995$998
20 years$4,350$3,518$2,823$2,250$1,782$852
21 years$4,100$3,277$2,596$2,042$1,595$729
22 years$3,872$3,059$2,393$1,856$1,429$624
23 years$3,664$2,861$2,210$1,691$1,283$534
24 years$3,475$2,680$2,043$1,542$1,153$458
25 years$3,300$2,515$1,893$1,408$1,038$393
26 years$3,139$2,364$1,755$1,288$935$337
27 years$2,991$2,225$1,630$1,179$843$290
28 years$2,853$2,097$1,515$1,080$761$249
29 years$2,725$1,978$1,410$990$687$214
30 years$2,606$1,868$1,313$909$621$184
31 years$2,494$1,766$1,225$835$561$158
32 years$2,390$1,671$1,142$767$507$136
33 years$2,292$1,582$1,067$705$459$117
34 years$2,201$1,500$997$649$416$101
35 years$2,114$1,422$932$597$377$87
36 years$2,033$1,350$872$550$341$75
37 years$1,956$1,282$816$507$309$64
38 years$1,884$1,219$764$467$280$55
39 years$1,815$1,159$716$431$254$48
40 years$1,750$1,102$671$397$231$41
41 years$1,688$1,049$629$367$209$35
42 years$1,630$999$590$338$190$30
43 years$1,574$952$554$312$172$26
44 years$1,521$908$520$288$156$23
45 years$1,470$866$488$266$142$19
46 years$1,422$826$458$246$129$17
47 years$1,376$788$431$227$117$14
48 years$1,332$752$405$210$106$12
49 years$1,290$718$380$194$97$11
50 years$1,250$686$358$179$88$9

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 $6,763 every year, while hoping to spend $26,900 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: 34/48/18 Blend
57$1,280,000$1,280,000$1,280,000$1,280,000
58$1,417,536$1,349,696$1,329,856$1,457,666
59$1,533,503$1,387,210$1,345,785$1,525,256
60$1,660,398$1,425,660$1,361,346$1,595,114
61$1,799,305$1,465,064$1,376,498$1,669,879
62$1,951,422$1,505,440$1,391,198$1,750,000
63$2,118,066$1,546,805$1,405,402$1,835,972
64$2,300,686$1,589,176$1,419,060$1,928,338
65$2,500,881$1,632,571$1,432,124$2,027,694
66$2,720,410$1,677,006$1,444,539$2,134,701
67$2,961,210$1,722,498$1,456,249$2,250,080
68$3,225,417$1,769,063$1,467,197$2,374,631
69$3,515,381$1,816,719$1,477,320$2,509,230
70$3,833,691$1,865,480$1,486,552$2,654,843
71$4,183,202$1,915,363$1,494,825$2,812,535
72$4,567,054$1,966,381$1,502,068$2,983,477
73$4,988,710$2,018,550$1,508,203$3,168,959
74$5,451,983$2,071,884$1,513,153$3,370,403
75$5,961,075$2,126,395$1,516,833$3,589,374
76$6,520,613$2,182,097$1,519,155$3,827,596
77$7,135,696$2,239,001$1,520,027$4,086,968
78$7,811,942$2,297,117$1,519,353$4,369,582
79$8,555,540$2,356,455$1,517,032$4,677,744
80$9,373,309$2,417,025$1,512,956$5,013,993
81$10,272,760$2,478,834$1,507,014$5,381,127
82$11,262,173$2,541,887$1,499,089$5,782,229
83$12,350,665$2,606,190$1,489,060$6,220,696
84$13,548,285$2,671,746$1,476,796$6,700,269
85$14,866,106$2,738,557$1,462,164$7,225,075
86$16,316,324$2,806,622$1,445,022$7,799,655
87$17,912,382$2,875,940$1,425,223$8,429,020
88$19,669,090$2,946,505$1,402,613$9,118,686
89$21,602,765$3,018,312$1,377,028$9,874,735
90$23,731,390$3,091,352$1,348,301$10,703,867
91$26,074,775$3,165,612$1,316,253$11,613,468
92$28,654,754$3,241,079$1,280,700$12,611,676
93$31,495,382$3,317,735$1,241,446$13,707,459
94$34,623,166$3,395,559$1,198,290$14,910,701
95$38,067,315$3,474,527$1,151,018$16,232,294
96$41,860,013$3,554,611$1,099,409$17,684,242
97$46,036,726$3,635,778$1,043,231$19,279,774
98$50,636,534$3,717,994$982,241$21,033,469
99$55,702,501$3,801,215$916,186$22,961,395
100$61,282,078$3,885,397$844,801$25,081,259