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%19.2%
1 years$105,701$104,760$103,841$102,944$102,069$98,291
2 years$52,327$51,353$50,408$49,493$48,604$44,841
3 years$34,538$33,560$32,618$31,710$30,837$27,206
4 years$25,646$24,670$23,737$22,846$21,993$18,523
5 years$20,311$19,341$18,421$17,548$16,719$13,418
6 years$16,756$15,794$14,887$14,033$13,229$10,100
7 years$14,218$13,264$12,371$11,537$10,759$7,801
8 years$12,315$11,369$10,492$9,678$8,925$6,136
9 years$10,836$9,899$9,036$8,244$7,516$4,891
10 years$9,653$8,726$7,878$7,106$6,404$3,939
11 years$8,686$7,768$6,936$6,185$5,508$3,197
12 years$7,881$6,972$6,155$5,425$4,773$2,611
13 years$7,200$6,301$5,499$4,789$4,162$2,143
14 years$6,617$5,727$4,941$4,251$3,649$1,765
15 years$6,112$5,232$4,461$3,791$3,212$1,459
16 years$5,671$4,800$4,045$3,395$2,839$1,209
17 years$5,282$4,421$3,681$3,050$2,517$1,004
18 years$4,936$4,085$3,360$2,749$2,238$835
19 years$4,628$3,786$3,076$2,484$1,995$695
20 years$4,350$3,518$2,823$2,250$1,782$580
21 years$4,100$3,277$2,596$2,042$1,595$484
22 years$3,872$3,059$2,393$1,856$1,429$405
23 years$3,664$2,861$2,210$1,691$1,283$338
24 years$3,475$2,680$2,043$1,542$1,153$283
25 years$3,300$2,515$1,893$1,408$1,038$237
26 years$3,139$2,364$1,755$1,288$935$198
27 years$2,991$2,225$1,630$1,179$843$166
28 years$2,853$2,097$1,515$1,080$761$139
29 years$2,725$1,978$1,410$990$687$117
30 years$2,606$1,868$1,313$909$621$98
31 years$2,494$1,766$1,225$835$561$82
32 years$2,390$1,671$1,142$767$507$69
33 years$2,292$1,582$1,067$705$459$58
34 years$2,201$1,500$997$649$416$48
35 years$2,114$1,422$932$597$377$40
36 years$2,033$1,350$872$550$341$34
37 years$1,956$1,282$816$507$309$28
38 years$1,884$1,219$764$467$280$24
39 years$1,815$1,159$716$431$254$20
40 years$1,750$1,102$671$397$231$17
41 years$1,688$1,049$629$367$209$14
42 years$1,630$999$590$338$190$12
43 years$1,574$952$554$312$172$10
44 years$1,521$908$520$288$156$8
45 years$1,470$866$488$266$142$7
46 years$1,422$826$458$246$129$6
47 years$1,376$788$431$227$117$5
48 years$1,332$752$405$210$106$4
49 years$1,290$718$380$194$97$3
50 years$1,250$686$358$179$88$3

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 $3,682 every year, while hoping to spend $30,407 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: 55/34/11 Blend
57$1,280,000$1,280,000$1,280,000$1,280,000
58$1,414,358$1,346,518$1,326,678$1,488,025
59$1,526,270$1,380,145$1,338,769$1,571,986
60$1,648,577$1,414,400$1,350,246$1,659,716
61$1,782,309$1,449,282$1,361,056$1,754,522
62$1,928,597$1,484,790$1,371,144$1,857,081
63$2,088,688$1,520,918$1,380,451$1,968,141
64$2,263,955$1,557,664$1,388,916$2,088,526
65$2,455,908$1,595,019$1,396,475$2,219,143
66$2,666,213$1,632,978$1,403,060$2,360,990
67$2,896,704$1,671,530$1,408,599$2,515,166
68$3,149,398$1,710,666$1,413,018$2,682,885
69$3,426,520$1,750,372$1,416,237$2,865,479
70$3,730,518$1,790,633$1,418,174$3,064,418
71$4,064,091$1,831,434$1,418,743$3,281,323
72$4,430,210$1,872,756$1,417,852$3,517,977
73$4,832,147$1,914,577$1,415,407$3,776,346
74$5,273,509$1,956,875$1,411,306$4,058,596
75$5,758,268$1,999,622$1,405,445$4,367,111
76$6,290,797$2,042,790$1,397,714$4,704,523
77$6,875,918$2,086,346$1,387,997$5,073,727
78$7,518,941$2,130,255$1,376,173$5,477,915
79$8,225,714$2,174,480$1,362,117$5,920,606
80$9,002,683$2,218,976$1,345,694$6,405,675
81$9,856,949$2,263,697$1,326,767$6,937,394
82$10,796,333$2,308,594$1,305,189$7,520,469
83$11,829,455$2,353,611$1,280,809$8,160,087
84$12,965,810$2,398,689$1,253,466$8,861,964
85$14,215,861$2,443,762$1,222,995$9,632,401
86$15,591,134$2,488,761$1,189,221$10,478,338
87$17,104,330$2,533,611$1,151,960$11,407,427
88$18,769,444$2,578,230$1,111,023$12,428,098
89$20,601,894$2,622,531$1,066,209$13,549,643
90$22,618,670$2,666,418$1,017,310$14,782,302
91$24,838,492$2,709,789$964,107$16,137,360
92$27,281,986$2,752,537$906,373$17,627,255
93$29,971,880$2,794,544$843,868$19,265,693
94$32,933,219$2,835,683$776,345$21,067,780
95$36,193,596$2,875,821$703,541$23,050,165
96$39,783,420$2,914,812$625,187$25,231,194
97$43,736,195$2,952,504$540,997$27,631,088
98$48,088,841$2,988,731$450,674$30,272,132
99$52,882,041$3,023,317$353,910$33,178,887
100$58,160,624$3,056,075$250,381$36,378,419