Can I retire at age 58 with 1,340,000?

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 $1,340,000?

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$110,656$109,670$108,709$107,770$106,853$104,611
2 years$54,780$53,760$52,771$51,813$50,883$48,633
3 years$36,157$35,133$34,146$33,197$32,282$30,097
4 years$26,848$25,826$24,850$23,916$23,024$20,919
5 years$21,263$20,248$19,285$18,370$17,502$15,485
6 years$17,542$16,534$15,585$14,691$13,849$11,920
7 years$14,885$13,885$12,951$12,078$11,263$9,424
8 years$12,893$11,902$10,983$10,132$9,344$7,593
9 years$11,344$10,363$9,460$8,630$7,869$6,206
10 years$10,106$9,135$8,248$7,439$6,705$5,127
11 years$9,093$8,132$7,261$6,474$5,766$4,273
12 years$8,250$7,299$6,444$5,679$4,997$3,585
13 years$7,538$6,596$5,757$5,014$4,357$3,025
14 years$6,927$5,996$5,173$4,451$3,820$2,563
15 years$6,399$5,477$4,670$3,969$3,363$2,181
16 years$5,937$5,025$4,234$3,554$2,972$1,861
17 years$5,529$4,628$3,853$3,193$2,635$1,592
18 years$5,168$4,276$3,517$2,878$2,343$1,365
19 years$4,845$3,963$3,220$2,600$2,089$1,173
20 years$4,554$3,683$2,955$2,355$1,866$1,009
21 years$4,292$3,430$2,718$2,137$1,670$869
22 years$4,053$3,202$2,505$1,943$1,496$750
23 years$3,836$2,995$2,313$1,770$1,343$648
24 years$3,637$2,806$2,139$1,614$1,207$560
25 years$3,455$2,633$1,981$1,474$1,086$484
26 years$3,286$2,475$1,838$1,348$979$419
27 years$3,131$2,329$1,706$1,234$882$363
28 years$2,987$2,195$1,586$1,130$796$314
29 years$2,853$2,071$1,476$1,037$719$272
30 years$2,728$1,955$1,375$951$650$236
31 years$2,611$1,849$1,282$874$587$205
32 years$2,502$1,749$1,196$803$531$177
33 years$2,400$1,656$1,117$738$481$154
34 years$2,304$1,570$1,043$679$435$134
35 years$2,213$1,489$976$625$394$116
36 years$2,128$1,413$913$576$357$101
37 years$2,048$1,342$854$531$324$87
38 years$1,972$1,276$800$489$294$76
39 years$1,900$1,213$749$451$266$66
40 years$1,832$1,154$702$416$241$57
41 years$1,767$1,099$659$384$219$50
42 years$1,706$1,046$618$354$199$43
43 years$1,648$997$580$327$180$37
44 years$1,592$950$544$302$164$33
45 years$1,539$906$511$279$149$28
46 years$1,489$864$480$258$135$25
47 years$1,441$825$451$238$123$21
48 years$1,394$788$424$220$111$19
49 years$1,350$752$398$203$101$16
50 years$1,308$718$374$188$92$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,340,000, adding $3,192 every year, while hoping to spend $27,917 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: 33/46/21 Blend
57$1,340,000$1,340,000$1,340,000$1,340,000
58$1,479,973$1,408,953$1,388,183$1,519,159
59$1,601,226$1,448,288$1,404,983$1,587,968
60$1,733,912$1,488,615$1,421,411$1,659,304
61$1,879,167$1,529,953$1,437,424$1,735,611
62$2,038,242$1,572,320$1,452,978$1,817,343
63$2,212,516$1,615,737$1,468,026$1,905,001
64$2,403,507$1,660,223$1,482,519$1,999,135
65$2,612,886$1,705,795$1,496,405$2,100,351
66$2,842,495$1,752,473$1,509,629$2,209,316
67$3,094,361$1,800,277$1,522,133$2,326,764
68$3,370,719$1,849,223$1,533,857$2,453,503
69$3,674,028$1,899,331$1,544,738$2,590,423
70$4,006,999$1,950,618$1,554,706$2,738,504
71$4,372,617$2,003,102$1,563,693$2,898,824
72$4,774,170$2,056,800$1,571,623$3,072,571
73$5,215,282$2,111,730$1,578,418$3,261,055
74$5,699,942$2,167,906$1,583,997$3,465,716
75$6,232,548$2,225,345$1,588,273$3,688,142
76$6,817,943$2,284,062$1,591,155$3,930,083
77$7,461,463$2,344,071$1,592,548$4,193,465
78$8,168,986$2,405,385$1,592,353$4,480,410
79$8,946,991$2,468,017$1,590,465$4,793,259
80$9,802,612$2,531,977$1,586,773$5,134,586
81$10,743,712$2,597,278$1,581,164$5,507,233
82$11,778,953$2,663,927$1,573,515$5,914,326
83$12,917,879$2,731,932$1,563,701$6,359,314
84$14,171,005$2,801,300$1,551,588$6,845,994
85$15,549,920$2,872,035$1,537,038$7,378,553
86$17,067,387$2,944,141$1,519,904$7,961,604
87$18,737,475$3,017,618$1,500,035$8,600,228
88$20,575,682$3,092,466$1,477,271$9,300,028
89$22,599,086$3,168,681$1,451,444$10,067,176
90$24,826,505$3,246,259$1,422,380$10,908,475
91$27,278,673$3,325,190$1,389,894$11,831,423
92$29,978,439$3,405,465$1,353,796$12,844,280
93$32,950,976$3,487,070$1,313,885$13,956,153
94$36,224,027$3,569,987$1,269,952$15,177,077
95$39,828,159$3,654,197$1,221,776$16,518,109
96$43,797,054$3,739,676$1,169,128$17,991,439
97$48,167,829$3,826,396$1,111,770$19,610,498
98$52,981,382$3,914,324$1,049,449$21,390,090
99$58,282,782$4,003,424$981,904$23,346,531
100$64,121,689$4,093,656$908,861$25,497,800