Can I retire at age 58 with 1,360,000?

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 $1,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$112,308$111,307$110,331$109,379$108,448$106,916
2 years$55,598$54,562$53,559$52,586$51,642$50,101
3 years$36,697$35,657$34,656$33,692$32,764$31,262
4 years$27,248$26,212$25,221$24,273$23,367$21,917
5 years$21,581$20,550$19,572$18,644$17,764$16,368
6 years$17,804$16,781$15,817$14,910$14,056$12,717
7 years$15,107$14,093$13,144$12,258$11,431$10,150
8 years$13,085$12,080$11,147$10,283$9,483$8,259
9 years$11,513$10,518$9,601$8,759$7,986$6,819
10 years$10,257$9,271$8,371$7,550$6,805$5,693
11 years$9,229$8,253$7,369$6,571$5,852$4,795
12 years$8,374$7,408$6,540$5,764$5,071$4,067
13 years$7,650$6,694$5,843$5,088$4,422$3,470
14 years$7,031$6,085$5,250$4,517$3,877$2,975
15 years$6,494$5,559$4,740$4,028$3,413$2,561
16 years$6,025$5,100$4,298$3,607$3,017$2,211
17 years$5,612$4,697$3,911$3,241$2,675$1,915
18 years$5,245$4,340$3,570$2,921$2,378$1,663
19 years$4,917$4,022$3,268$2,639$2,120$1,446
20 years$4,622$3,738$2,999$2,390$1,893$1,260
21 years$4,356$3,482$2,759$2,169$1,694$1,100
22 years$4,114$3,250$2,543$1,972$1,519$961
23 years$3,893$3,040$2,348$1,796$1,363$841
24 years$3,692$2,848$2,171$1,638$1,225$737
25 years$3,506$2,673$2,011$1,496$1,103$646
26 years$3,335$2,512$1,865$1,368$993$566
27 years$3,178$2,364$1,732$1,252$896$497
28 years$3,031$2,228$1,610$1,147$808$437
29 years$2,895$2,101$1,498$1,052$730$384
30 years$2,768$1,985$1,396$966$659$337
31 years$2,650$1,876$1,301$887$596$297
32 years$2,539$1,775$1,214$815$539$261
33 years$2,436$1,681$1,133$749$488$230
34 years$2,338$1,593$1,059$690$442$202
35 years$2,246$1,511$990$635$400$178
36 years$2,160$1,434$926$585$363$157
37 years$2,078$1,362$867$539$329$138
38 years$2,001$1,295$812$496$298$121
39 years$1,928$1,231$761$458$270$107
40 years$1,859$1,171$713$422$245$94
41 years$1,794$1,115$668$390$222$83
42 years$1,731$1,062$627$360$202$73
43 years$1,672$1,012$588$332$183$65
44 years$1,616$964$552$306$166$57
45 years$1,562$920$519$283$151$50
46 years$1,511$877$487$261$137$44
47 years$1,462$837$458$242$124$39
48 years$1,415$799$430$223$113$34
49 years$1,371$763$404$206$103$30
50 years$1,328$729$380$191$93$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,360,000, adding $2,922 every year, while hoping to spend $45,736 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: 66/7/27 Blend
57$1,360,000$1,360,000$1,360,000$1,360,000
58$1,501,734$1,429,654$1,408,574$1,590,036
59$1,606,248$1,451,044$1,407,099$1,671,333
60$1,719,890$1,471,950$1,404,041$1,754,791
61$1,843,542$1,492,299$1,399,299$1,845,023
62$1,978,175$1,512,014$1,392,768$1,942,700
63$2,124,859$1,531,012$1,384,336$2,048,563
64$2,284,769$1,549,206$1,373,885$2,163,427
65$2,459,200$1,566,502$1,361,295$2,288,194
66$2,649,577$1,582,799$1,346,437$2,423,856
67$2,857,467$1,597,989$1,329,176$2,571,510
68$3,084,598$1,611,960$1,309,372$2,732,363
69$3,332,870$1,624,589$1,286,879$2,907,749
70$3,604,375$1,635,746$1,261,542$3,099,136
71$3,901,418$1,645,294$1,233,200$3,308,145
72$4,226,534$1,653,085$1,201,684$3,536,564
73$4,582,519$1,658,965$1,166,819$3,786,365
74$4,972,448$1,662,766$1,128,419$4,059,721
75$5,399,709$1,664,313$1,086,292$4,359,029
76$5,868,032$1,663,417$1,040,236$4,686,934
77$6,381,528$1,659,881$990,041$5,046,350
78$6,944,721$1,653,492$935,484$5,440,492
79$7,562,596$1,644,027$876,337$5,872,906
80$8,240,645$1,631,248$812,358$6,347,501
81$8,984,914$1,614,903$743,296$6,868,585
82$9,802,066$1,594,724$668,887$7,440,913
83$10,699,440$1,570,429$588,857$8,069,725
84$11,685,119$1,541,715$502,920$8,760,797
85$12,768,008$1,508,267$410,775$9,520,502
86$13,957,919$1,469,746$312,110$10,355,861
87$15,265,660$1,425,797$206,599$11,274,620
88$16,703,137$1,376,040$93,900$12,285,316
89$18,283,469$1,320,078$0$13,397,361
90$20,021,108$1,257,487$0$14,628,730
91$21,931,976$1,187,820$0$16,012,628
92$24,033,619$1,110,604$0$17,534,701
93$26,345,362$1,025,338$0$19,208,967
94$28,888,504$931,494$0$21,050,877
95$31,686,507$828,513$0$23,077,455
96$34,765,225$715,805$0$25,307,459
97$38,153,144$592,744$0$27,761,561
98$41,881,648$458,673$0$30,462,540
99$45,985,322$312,894$0$33,435,496
100$50,502,271$154,671$0$36,708,088