Can I retire at age 58 with 1,290,000?

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 $1,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$106,527$105,578$104,652$103,749$102,866$100,707
2 years$52,736$51,754$50,802$49,879$48,984$46,819
3 years$34,808$33,822$32,872$31,958$31,077$28,974
4 years$25,846$24,863$23,923$23,024$22,165$20,139
5 years$20,470$19,493$18,565$17,685$16,849$14,907
6 years$16,887$15,917$15,003$14,143$13,332$11,475
7 years$14,329$13,367$12,468$11,627$10,843$9,072
8 years$12,411$11,458$10,574$9,754$8,995$7,310
9 years$10,921$9,976$9,107$8,308$7,575$5,974
10 years$9,729$8,794$7,940$7,162$6,454$4,936
11 years$8,754$7,829$6,990$6,233$5,551$4,113
12 years$7,943$7,026$6,203$5,467$4,810$3,451
13 years$7,256$6,350$5,542$4,827$4,195$2,912
14 years$6,669$5,772$4,980$4,284$3,677$2,468
15 years$6,160$5,273$4,496$3,821$3,238$2,099
16 years$5,715$4,838$4,076$3,421$2,861$1,791
17 years$5,323$4,455$3,709$3,074$2,537$1,533
18 years$4,975$4,117$3,386$2,770$2,256$1,314
19 years$4,664$3,815$3,100$2,503$2,011$1,129
20 years$4,384$3,545$2,845$2,267$1,796$971
21 years$4,132$3,302$2,617$2,058$1,607$837
22 years$3,902$3,083$2,412$1,871$1,441$722
23 years$3,693$2,883$2,227$1,704$1,293$623
24 years$3,502$2,701$2,059$1,554$1,162$539
25 years$3,326$2,535$1,907$1,419$1,046$466
26 years$3,164$2,383$1,769$1,298$942$403
27 years$3,014$2,242$1,643$1,188$849$349
28 years$2,875$2,113$1,527$1,088$766$302
29 years$2,746$1,993$1,421$998$692$262
30 years$2,626$1,882$1,324$916$625$227
31 years$2,514$1,780$1,234$841$565$197
32 years$2,409$1,684$1,151$773$511$171
33 years$2,310$1,595$1,075$711$463$148
34 years$2,218$1,511$1,004$654$419$129
35 years$2,131$1,433$939$602$380$112
36 years$2,049$1,361$879$555$344$97
37 years$1,971$1,292$822$511$312$84
38 years$1,898$1,228$770$471$283$73
39 years$1,829$1,168$721$434$256$63
40 years$1,764$1,111$676$400$232$55
41 years$1,701$1,058$634$370$211$48
42 years$1,642$1,007$595$341$191$42
43 years$1,586$960$558$315$174$36
44 years$1,533$915$524$291$158$31
45 years$1,482$872$492$268$143$27
46 years$1,433$832$462$248$130$24
47 years$1,387$794$434$229$118$21
48 years$1,342$758$408$212$107$18
49 years$1,300$724$383$196$97$15
50 years$1,259$692$360$181$88$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,290,000, adding $6,455 every year, while hoping to spend $31,404 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: 63/16/21 Blend
57$1,290,000$1,290,000$1,290,000$1,290,000
58$1,428,238$1,359,868$1,339,873$1,510,082
59$1,540,505$1,393,088$1,351,345$1,599,260
60$1,663,170$1,426,883$1,362,149$1,692,522
61$1,797,262$1,461,249$1,372,230$1,793,658
62$1,943,911$1,496,178$1,381,528$1,903,440
63$2,104,363$1,531,664$1,389,982$2,022,718
64$2,279,990$1,567,697$1,397,528$2,152,428
65$2,472,301$1,604,267$1,404,098$2,293,603
66$2,682,961$1,641,361$1,409,620$2,447,380
67$2,913,799$1,678,965$1,414,019$2,615,012
68$3,166,835$1,717,062$1,417,216$2,797,880
69$3,444,289$1,755,635$1,419,130$2,997,504
70$3,748,608$1,794,662$1,419,672$3,215,562
71$4,082,487$1,834,121$1,418,752$3,453,901
72$4,448,894$1,873,987$1,416,274$3,714,558
73$4,851,100$1,914,231$1,412,138$3,999,775
74$5,292,706$1,954,822$1,406,238$4,312,025
75$5,777,680$1,995,727$1,398,465$4,654,034
76$6,310,392$2,036,906$1,388,703$5,028,804
77$6,895,658$2,078,320$1,376,830$5,439,646
78$7,538,782$2,119,925$1,362,720$5,890,207
79$8,245,606$2,161,670$1,346,241$6,384,507
80$9,022,570$2,203,504$1,327,252$6,926,977
81$9,876,766$2,245,368$1,305,608$7,522,500
82$10,816,006$2,287,202$1,281,156$8,176,456
83$11,848,902$2,328,938$1,253,738$8,894,779
84$12,984,937$2,370,503$1,223,185$9,684,003
85$14,234,562$2,411,820$1,189,324$10,551,334
86$15,609,292$2,452,803$1,151,970$11,504,712
87$17,121,813$2,493,363$1,110,934$12,552,889
88$18,786,102$2,533,402$1,066,015$13,705,508
89$20,617,561$2,572,816$1,017,004$14,973,200
90$22,633,161$2,611,493$963,682$16,367,680
91$24,851,599$2,649,311$905,820$17,901,860
92$27,293,478$2,686,144$843,181$19,589,971
93$29,981,500$2,721,852$775,515$21,447,696
94$32,940,679$2,756,288$702,561$23,492,321
95$36,198,578$2,789,296$624,046$25,742,895
96$39,785,567$2,820,706$539,686$28,220,416
97$43,735,114$2,850,339$449,184$30,948,022
98$48,084,094$2,878,005$352,231$33,951,217
99$52,873,142$2,903,497$248,501$37,258,107
100$58,147,034$2,926,600$137,657$40,899,667