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%18.1%
1 years$106,527$105,578$104,652$103,749$102,866$99,494
2 years$52,736$51,754$50,802$49,879$48,984$45,619
3 years$34,808$33,822$32,872$31,958$31,077$27,825
4 years$25,846$24,863$23,923$23,024$22,165$19,049
5 years$20,470$19,493$18,565$17,685$16,849$13,880
6 years$16,887$15,917$15,003$14,143$13,332$10,511
7 years$14,329$13,367$12,468$11,627$10,843$8,169
8 years$12,411$11,458$10,574$9,754$8,995$6,468
9 years$10,921$9,976$9,107$8,308$7,575$5,191
10 years$9,729$8,794$7,940$7,162$6,454$4,209
11 years$8,754$7,829$6,990$6,233$5,551$3,441
12 years$7,943$7,026$6,203$5,467$4,810$2,831
13 years$7,256$6,350$5,542$4,827$4,195$2,340
14 years$6,669$5,772$4,980$4,284$3,677$1,943
15 years$6,160$5,273$4,496$3,821$3,238$1,618
16 years$5,715$4,838$4,076$3,421$2,861$1,352
17 years$5,323$4,455$3,709$3,074$2,537$1,132
18 years$4,975$4,117$3,386$2,770$2,256$949
19 years$4,664$3,815$3,100$2,503$2,011$797
20 years$4,384$3,545$2,845$2,267$1,796$670
21 years$4,132$3,302$2,617$2,058$1,607$564
22 years$3,902$3,083$2,412$1,871$1,441$476
23 years$3,693$2,883$2,227$1,704$1,293$401
24 years$3,502$2,701$2,059$1,554$1,162$339
25 years$3,326$2,535$1,907$1,419$1,046$286
26 years$3,164$2,383$1,769$1,298$942$241
27 years$3,014$2,242$1,643$1,188$849$204
28 years$2,875$2,113$1,527$1,088$766$172
29 years$2,746$1,993$1,421$998$692$146
30 years$2,626$1,882$1,324$916$625$123
31 years$2,514$1,780$1,234$841$565$104
32 years$2,409$1,684$1,151$773$511$88
33 years$2,310$1,595$1,075$711$463$75
34 years$2,218$1,511$1,004$654$419$63
35 years$2,131$1,433$939$602$380$53
36 years$2,049$1,361$879$555$344$45
37 years$1,971$1,292$822$511$312$38
38 years$1,898$1,228$770$471$283$32
39 years$1,829$1,168$721$434$256$27
40 years$1,764$1,111$676$400$232$23
41 years$1,701$1,058$634$370$211$20
42 years$1,642$1,007$595$341$191$17
43 years$1,586$960$558$315$174$14
44 years$1,533$915$524$291$158$12
45 years$1,482$872$492$268$143$10
46 years$1,433$832$462$248$130$9
47 years$1,387$794$434$229$118$7
48 years$1,342$758$408$212$107$6
49 years$1,300$724$383$196$97$5
50 years$1,259$692$360$181$88$4

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 $4,942 every year, while hoping to spend $50,365 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: 69/24/7 Blend
57$1,290,000$1,290,000$1,290,000$1,290,000
58$1,426,678$1,358,308$1,338,313$1,523,174
59$1,518,611$1,371,277$1,329,558$1,600,668
60$1,618,233$1,383,193$1,318,822$1,678,785
61$1,726,276$1,393,953$1,305,986$1,762,866
62$1,843,543$1,403,443$1,290,923$1,853,484
63$1,970,918$1,411,546$1,273,503$1,951,274
64$2,109,375$1,418,135$1,253,589$2,056,934
65$2,259,983$1,423,076$1,231,036$2,171,232
66$2,423,920$1,426,225$1,205,694$2,295,018
67$2,602,482$1,427,431$1,177,407$2,429,227
68$2,797,093$1,426,534$1,146,008$2,574,891
69$3,009,323$1,423,360$1,111,326$2,733,147
70$3,240,898$1,417,730$1,073,180$2,905,249
71$3,493,721$1,409,449$1,031,382$3,092,582
72$3,769,881$1,398,313$985,734$3,296,670
73$4,071,684$1,384,106$936,031$3,519,196
74$4,401,665$1,366,596$882,058$3,762,014
75$4,762,616$1,345,540$823,588$4,027,170
76$5,157,612$1,320,681$760,387$4,316,920
77$5,590,037$1,291,743$692,208$4,633,752
78$6,063,620$1,258,437$618,796$4,980,407
79$6,582,465$1,220,456$539,882$5,359,913
80$7,151,093$1,177,476$455,185$5,775,603
81$7,774,484$1,129,151$364,413$6,231,158
82$8,458,121$1,075,119$267,260$6,730,632
83$9,208,044$1,014,995$163,408$7,278,500
84$10,030,906$948,371$52,524$7,879,693
85$10,934,035$874,818$0$8,539,650
86$11,925,502$793,879$0$9,269,283
87$13,014,199$705,075$0$10,074,796
88$14,209,920$607,896$0$10,959,582
89$15,523,455$501,807$0$11,931,709
90$16,966,691$386,239$0$13,000,074
91$18,552,722$260,593$0$14,174,481
92$20,295,974$124,237$0$15,465,741
93$22,212,341$0$0$16,885,771
94$24,319,331$0$0$18,453,913
95$26,636,236$0$0$20,214,444
96$29,184,311$0$0$22,150,713
97$31,986,970$0$0$24,280,525
98$35,070,016$0$0$26,623,497
99$38,461,874$0$0$29,201,242
100$42,193,866$0$0$32,037,575