Can I retire at age 58 with 1,300,000?

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 $1,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$107,353$106,397$105,464$104,553$103,664$100,709
2 years$53,145$52,155$51,196$50,266$49,364$46,410
3 years$35,078$34,084$33,127$32,206$31,318$28,458
4 years$26,046$25,055$24,108$23,202$22,337$19,591
5 years$20,629$19,644$18,709$17,822$16,980$14,357
6 years$17,018$16,041$15,120$14,252$13,436$10,938
7 years$14,440$13,471$12,564$11,718$10,927$8,555
8 years$12,508$11,547$10,656$9,830$9,065$6,817
9 years$11,005$10,054$9,178$8,373$7,634$5,508
10 years$9,804$8,862$8,001$7,217$6,504$4,497
11 years$8,822$7,889$7,044$6,281$5,594$3,703
12 years$8,004$7,081$6,252$5,509$4,848$3,068
13 years$7,313$6,399$5,585$4,864$4,227$2,556
14 years$6,720$5,817$5,018$4,318$3,706$2,138
15 years$6,208$5,314$4,531$3,851$3,263$1,795
16 years$5,759$4,875$4,108$3,448$2,884$1,511
17 years$5,364$4,490$3,738$3,098$2,557$1,275
18 years$5,014$4,149$3,412$2,792$2,273$1,078
19 years$4,700$3,845$3,124$2,523$2,026$913
20 years$4,418$3,573$2,867$2,285$1,810$774
21 years$4,164$3,328$2,637$2,074$1,620$658
22 years$3,932$3,107$2,430$1,885$1,452$559
23 years$3,722$2,906$2,244$1,717$1,303$475
24 years$3,529$2,722$2,075$1,566$1,171$405
25 years$3,352$2,555$1,922$1,430$1,054$345
26 years$3,188$2,401$1,783$1,308$949$294
27 years$3,037$2,260$1,655$1,197$856$250
28 years$2,897$2,129$1,539$1,097$772$214
29 years$2,767$2,009$1,432$1,006$697$182
30 years$2,646$1,897$1,334$923$630$156
31 years$2,533$1,793$1,244$848$570$133
32 years$2,427$1,697$1,160$779$515$113
33 years$2,328$1,607$1,083$716$466$97
34 years$2,235$1,523$1,012$659$422$83
35 years$2,147$1,445$946$607$382$71
36 years$2,065$1,371$885$559$347$60
37 years$1,987$1,302$829$515$314$52
38 years$1,913$1,238$776$475$285$44
39 years$1,843$1,177$727$438$258$38
40 years$1,777$1,120$681$404$234$32
41 years$1,715$1,066$639$372$212$27
42 years$1,655$1,015$599$344$193$23
43 years$1,598$967$562$317$175$20
44 years$1,545$922$528$293$159$17
45 years$1,493$879$496$271$144$15
46 years$1,444$839$466$250$131$13
47 years$1,398$800$437$231$119$11
48 years$1,353$764$411$213$108$9
49 years$1,310$730$386$197$98$8
50 years$1,269$697$363$182$89$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,300,000, adding $2,838 every year, while hoping to spend $34,175 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: 59/22/19 Blend
57$1,300,000$1,300,000$1,300,000$1,300,000
58$1,435,527$1,366,627$1,346,477$1,512,916
59$1,545,589$1,397,230$1,355,222$1,596,294
60$1,665,732$1,428,187$1,363,115$1,683,191
61$1,796,948$1,459,480$1,370,091$1,777,188
62$1,940,329$1,491,086$1,376,081$1,878,976
63$2,097,078$1,522,985$1,381,015$1,989,319
64$2,268,519$1,555,150$1,384,818$2,109,056
65$2,456,109$1,587,554$1,387,411$2,239,114
66$2,661,453$1,620,165$1,388,710$2,380,513
67$2,886,320$1,652,952$1,388,631$2,534,378
68$3,132,655$1,685,877$1,387,080$2,701,947
69$3,402,602$1,718,901$1,383,964$2,884,588
70$3,698,522$1,751,982$1,379,181$3,083,805
71$4,023,014$1,785,072$1,372,627$3,301,258
72$4,378,943$1,818,122$1,364,191$3,538,775
73$4,769,463$1,851,077$1,353,759$3,798,372
74$5,198,047$1,883,879$1,341,209$4,082,272
75$5,668,523$1,916,464$1,326,414$4,392,922
76$6,185,106$1,948,765$1,309,243$4,733,022
77$6,752,441$1,980,708$1,289,556$5,105,547
78$7,375,641$2,012,214$1,267,208$5,513,777
79$8,060,343$2,043,199$1,242,046$5,961,326
80$8,812,755$2,073,573$1,213,911$6,452,179
81$9,639,716$2,103,238$1,182,637$6,990,727
82$10,548,761$2,132,091$1,148,050$7,581,812
83$11,548,191$2,160,020$1,109,966$8,230,770
84$12,647,152$2,186,906$1,068,195$8,943,481
85$13,855,720$2,212,623$1,022,538$9,726,429
86$15,184,996$2,237,034$972,786$10,586,761
87$16,647,213$2,259,995$918,721$11,532,351
88$18,255,845$2,281,352$860,115$12,571,884
89$20,025,743$2,300,940$796,730$13,714,928
90$21,973,266$2,318,583$728,318$14,972,031
91$24,116,441$2,334,095$654,618$16,354,819
92$26,475,129$2,347,277$575,359$17,876,109
93$29,071,216$2,357,918$490,258$19,550,024
94$31,928,816$2,365,792$399,017$21,392,133
95$35,074,500$2,370,660$301,329$23,419,597
96$38,537,546$2,372,269$196,870$25,651,330
97$42,350,213$2,370,348$85,303$28,108,178
98$46,548,051$2,364,611$0$30,813,119
99$51,170,229$2,354,754$0$33,798,323
100$56,259,908$2,340,453$0$37,103,759