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

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 $1,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$106,527$105,578$104,652$103,749$102,866$100,584
2 years$52,736$51,754$50,802$49,879$48,984$46,696
3 years$34,808$33,822$32,872$31,958$31,077$28,856
4 years$25,846$24,863$23,923$23,024$22,165$20,027
5 years$20,470$19,493$18,565$17,685$16,849$14,801
6 years$16,887$15,917$15,003$14,143$13,332$11,375
7 years$14,329$13,367$12,468$11,627$10,843$8,977
8 years$12,411$11,458$10,574$9,754$8,995$7,221
9 years$10,921$9,976$9,107$8,308$7,575$5,891
10 years$9,729$8,794$7,940$7,162$6,454$4,858
11 years$8,754$7,829$6,990$6,233$5,551$4,041
12 years$7,943$7,026$6,203$5,467$4,810$3,384
13 years$7,256$6,350$5,542$4,827$4,195$2,849
14 years$6,669$5,772$4,980$4,284$3,677$2,410
15 years$6,160$5,273$4,496$3,821$3,238$2,046
16 years$5,715$4,838$4,076$3,421$2,861$1,742
17 years$5,323$4,455$3,709$3,074$2,537$1,487
18 years$4,975$4,117$3,386$2,770$2,256$1,272
19 years$4,664$3,815$3,100$2,503$2,011$1,091
20 years$4,384$3,545$2,845$2,267$1,796$936
21 years$4,132$3,302$2,617$2,058$1,607$805
22 years$3,902$3,083$2,412$1,871$1,441$693
23 years$3,693$2,883$2,227$1,704$1,293$597
24 years$3,502$2,701$2,059$1,554$1,162$514
25 years$3,326$2,535$1,907$1,419$1,046$444
26 years$3,164$2,383$1,769$1,298$942$383
27 years$3,014$2,242$1,643$1,188$849$331
28 years$2,875$2,113$1,527$1,088$766$286
29 years$2,746$1,993$1,421$998$692$247
30 years$2,626$1,882$1,324$916$625$214
31 years$2,514$1,780$1,234$841$565$185
32 years$2,409$1,684$1,151$773$511$160
33 years$2,310$1,595$1,075$711$463$138
34 years$2,218$1,511$1,004$654$419$120
35 years$2,131$1,433$939$602$380$104
36 years$2,049$1,361$879$555$344$90
37 years$1,971$1,292$822$511$312$78
38 years$1,898$1,228$770$471$283$67
39 years$1,829$1,168$721$434$256$58
40 years$1,764$1,111$676$400$232$50
41 years$1,701$1,058$634$370$211$44
42 years$1,642$1,007$595$341$191$38
43 years$1,586$960$558$315$174$33
44 years$1,533$915$524$291$158$28
45 years$1,482$872$492$268$143$25
46 years$1,433$832$462$248$130$21
47 years$1,387$794$434$229$118$18
48 years$1,342$758$408$212$107$16
49 years$1,300$724$383$196$97$14
50 years$1,259$692$360$181$88$12

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 $3,297 every year, while hoping to spend $46,000 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: 40/31/29 Blend
57$1,290,000$1,290,000$1,290,000$1,290,000
58$1,424,981$1,356,611$1,336,616$1,469,668
59$1,521,385$1,374,141$1,332,449$1,520,054
60$1,626,081$1,390,989$1,326,601$1,570,031
61$1,739,866$1,407,071$1,318,966$1,623,234
62$1,863,616$1,422,302$1,309,435$1,679,987
63$1,998,297$1,436,587$1,297,893$1,740,652
64$2,144,970$1,449,826$1,284,219$1,805,627
65$2,304,803$1,461,914$1,268,287$1,875,355
66$2,479,082$1,472,737$1,249,964$1,950,327
67$2,669,222$1,482,174$1,229,111$2,031,086
68$2,876,780$1,490,099$1,205,584$2,118,233
69$3,103,471$1,496,373$1,179,231$2,212,434
70$3,351,183$1,500,853$1,149,892$2,314,427
71$3,621,992$1,503,383$1,117,402$2,425,027
72$3,918,187$1,503,801$1,081,587$2,545,139
73$4,242,287$1,501,932$1,042,265$2,675,760
74$4,597,065$1,497,591$999,245$2,817,997
75$4,985,575$1,490,583$952,330$2,973,074
76$5,411,181$1,480,698$901,310$3,142,342
77$5,877,587$1,467,718$845,969$3,327,297
78$6,388,872$1,451,407$786,080$3,529,595
79$6,949,528$1,431,518$721,406$3,751,063
80$7,564,505$1,407,787$651,698$3,993,724
81$8,239,252$1,379,936$576,697$4,259,811
82$8,979,774$1,347,671$496,135$4,551,795
83$9,792,682$1,310,678$409,726$4,872,404
84$10,685,262$1,268,627$317,178$5,224,654
85$11,665,537$1,221,169$218,182$5,611,876
86$12,742,347$1,167,931$112,416$6,037,748
87$13,925,430$1,108,523$0$6,506,338
88$15,225,513$1,042,530$0$7,022,273
89$16,654,415$969,514$0$7,627,501
90$18,225,155$889,010$0$8,292,790
91$19,952,079$800,530$0$9,024,302
92$21,850,990$703,555$0$9,828,833
93$23,939,300$597,537$0$10,713,880
94$26,236,191$481,900$0$11,687,710
95$28,762,801$356,031$0$12,759,440
96$31,542,416$219,286$0$13,939,124
97$34,600,695$70,983$0$15,237,851
98$37,965,908$0$0$16,667,845
99$41,669,205$0$0$18,273,155
100$45,744,908$0$0$20,066,744