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%14.3%
1 years$107,353$106,397$105,464$104,553$103,664$101,821
2 years$53,145$52,155$51,196$50,266$49,364$47,513
3 years$35,078$34,084$33,127$32,206$31,318$29,518
4 years$26,046$25,055$24,108$23,202$22,337$20,600
5 years$20,629$19,644$18,709$17,822$16,980$15,312
6 years$17,018$16,041$15,120$14,252$13,436$11,839
7 years$14,440$13,471$12,564$11,718$10,927$9,402
8 years$12,508$11,547$10,656$9,830$9,065$7,610
9 years$11,005$10,054$9,178$8,373$7,634$6,250
10 years$9,804$8,862$8,001$7,217$6,504$5,189
11 years$8,822$7,889$7,044$6,281$5,594$4,346
12 years$8,004$7,081$6,252$5,509$4,848$3,666
13 years$7,313$6,399$5,585$4,864$4,227$3,109
14 years$6,720$5,817$5,018$4,318$3,706$2,649
15 years$6,208$5,314$4,531$3,851$3,263$2,266
16 years$5,759$4,875$4,108$3,448$2,884$1,945
17 years$5,364$4,490$3,738$3,098$2,557$1,674
18 years$5,014$4,149$3,412$2,792$2,273$1,443
19 years$4,700$3,845$3,124$2,523$2,026$1,247
20 years$4,418$3,573$2,867$2,285$1,810$1,080
21 years$4,164$3,328$2,637$2,074$1,620$936
22 years$3,932$3,107$2,430$1,885$1,452$812
23 years$3,722$2,906$2,244$1,717$1,303$706
24 years$3,529$2,722$2,075$1,566$1,171$614
25 years$3,352$2,555$1,922$1,430$1,054$534
26 years$3,188$2,401$1,783$1,308$949$465
27 years$3,037$2,260$1,655$1,197$856$405
28 years$2,897$2,129$1,539$1,097$772$353
29 years$2,767$2,009$1,432$1,006$697$308
30 years$2,646$1,897$1,334$923$630$269
31 years$2,533$1,793$1,244$848$570$235
32 years$2,427$1,697$1,160$779$515$205
33 years$2,328$1,607$1,083$716$466$179
34 years$2,235$1,523$1,012$659$422$156
35 years$2,147$1,445$946$607$382$137
36 years$2,065$1,371$885$559$347$119
37 years$1,987$1,302$829$515$314$104
38 years$1,913$1,238$776$475$285$91
39 years$1,843$1,177$727$438$258$80
40 years$1,777$1,120$681$404$234$70
41 years$1,715$1,066$639$372$212$61
42 years$1,655$1,015$599$344$193$53
43 years$1,598$967$562$317$175$47
44 years$1,545$922$528$293$159$41
45 years$1,493$879$496$271$144$36
46 years$1,444$839$466$250$131$31
47 years$1,398$800$437$231$119$27
48 years$1,353$764$411$213$108$24
49 years$1,310$730$386$197$98$21
50 years$1,269$697$363$182$89$18

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 $2,386 every year, while hoping to spend $45,052 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: 47/28/25 Blend
57$1,300,000$1,300,000$1,300,000$1,300,000
58$1,435,061$1,366,161$1,346,011$1,492,148
59$1,533,502$1,385,168$1,343,168$1,551,512
60$1,640,475$1,403,596$1,338,719$1,611,286
61$1,756,801$1,421,370$1,332,563$1,675,275
62$1,883,385$1,438,408$1,324,595$1,743,897
63$2,021,224$1,454,624$1,314,703$1,817,612
64$2,171,414$1,469,925$1,302,770$1,896,932
65$2,335,159$1,484,213$1,288,674$1,982,420
66$2,513,788$1,497,381$1,272,287$2,074,700
67$2,708,760$1,509,319$1,253,475$2,174,462
68$2,921,685$1,519,907$1,232,097$2,282,466
69$3,154,332$1,529,018$1,208,008$2,399,555
70$3,408,650$1,536,516$1,181,052$2,526,658
71$3,686,785$1,542,257$1,151,069$2,664,803
72$3,991,098$1,546,089$1,117,892$2,815,126
73$4,324,192$1,547,849$1,081,343$2,978,881
74$4,688,930$1,547,365$1,041,239$3,157,452
75$5,088,467$1,544,452$997,386$3,352,371
76$5,526,277$1,538,916$949,585$3,565,327
77$6,006,186$1,530,551$897,624$3,798,188
78$6,532,406$1,519,137$841,284$4,053,014
79$7,109,578$1,504,442$780,334$4,332,081
80$7,742,815$1,486,220$714,535$4,637,903
81$8,437,746$1,464,208$643,635$4,973,254
82$9,200,572$1,438,130$567,373$5,341,198
83$10,038,125$1,407,693$485,475$5,745,116
84$10,957,930$1,372,586$397,655$6,188,740
85$11,968,276$1,332,481$303,613$6,676,190
86$13,078,296$1,287,028$203,040$7,212,015
87$14,298,049$1,235,859$95,609$7,801,231
88$15,638,619$1,178,585$0$8,449,379
89$17,112,215$1,114,793$0$9,167,646
90$18,732,290$1,044,046$0$9,985,247
91$20,513,663$965,884$0$10,884,190
92$22,472,662$879,818$0$11,872,787
93$24,627,277$785,333$0$12,960,205
94$26,997,329$681,884$0$14,156,548
95$29,604,655$568,895$0$15,472,958
96$32,473,317$445,758$0$16,921,716
97$35,629,826$311,830$0$18,516,365
98$39,103,391$166,433$0$20,271,833
99$42,926,199$8,850$0$22,204,580
100$47,133,713$0$0$24,332,750