Can I retire at age 58 with 1,370,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$113,133$112,126$111,142$110,183$109,246$108,195
2 years$56,007$54,964$53,953$52,972$52,022$50,963
3 years$36,967$35,919$34,911$33,940$33,005$31,971
4 years$27,449$26,404$25,406$24,452$23,539$22,539
5 years$21,740$20,701$19,716$18,781$17,894$16,930
6 years$17,935$16,904$15,934$15,020$14,159$13,232
7 years$15,218$14,196$13,241$12,348$11,515$10,625
8 years$13,181$12,169$11,229$10,359$9,553$8,701
9 years$11,598$10,595$9,672$8,823$8,045$7,230
10 years$10,332$9,339$8,432$7,606$6,855$6,077
11 years$9,297$8,314$7,424$6,619$5,895$5,153
12 years$8,435$7,462$6,588$5,806$5,109$4,402
13 years$7,706$6,744$5,886$5,126$4,455$3,783
14 years$7,082$6,130$5,289$4,550$3,905$3,267
15 years$6,542$5,600$4,775$4,058$3,438$2,833
16 years$6,070$5,138$4,329$3,633$3,039$2,465
17 years$5,653$4,732$3,939$3,265$2,694$2,151
18 years$5,284$4,372$3,596$2,942$2,396$1,883
19 years$4,953$4,052$3,292$2,658$2,135$1,651
20 years$4,656$3,765$3,021$2,408$1,907$1,450
21 years$4,388$3,507$2,779$2,185$1,707$1,276
22 years$4,144$3,274$2,561$1,987$1,530$1,125
23 years$3,922$3,062$2,365$1,809$1,373$992
24 years$3,719$2,869$2,187$1,650$1,234$876
25 years$3,532$2,692$2,026$1,507$1,111$775
26 years$3,360$2,530$1,879$1,378$1,001$686
27 years$3,201$2,381$1,745$1,261$902$607
28 years$3,053$2,244$1,622$1,156$814$538
29 years$2,916$2,117$1,509$1,060$735$477
30 years$2,789$1,999$1,406$973$664$423
31 years$2,670$1,890$1,311$893$600$375
32 years$2,558$1,788$1,223$821$543$333
33 years$2,453$1,693$1,142$755$492$296
34 years$2,355$1,605$1,067$695$445$263
35 years$2,263$1,522$997$639$403$234
36 years$2,176$1,445$933$589$365$208
37 years$2,094$1,372$873$543$331$185
38 years$2,016$1,304$818$500$300$164
39 years$1,943$1,240$766$461$272$146
40 years$1,873$1,180$718$425$247$130
41 years$1,807$1,123$673$392$224$115
42 years$1,744$1,070$632$362$203$103
43 years$1,685$1,019$593$334$184$91
44 years$1,628$972$556$309$167$81
45 years$1,574$926$522$285$152$72
46 years$1,522$884$491$263$138$64
47 years$1,473$843$461$243$125$57
48 years$1,426$805$433$225$114$51
49 years$1,381$769$407$208$103$45
50 years$1,338$734$383$192$94$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,370,000, adding $2,124 every year, while hoping to spend $58,685 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: 83/7/10 Blend
57$1,370,000$1,370,000$1,370,000$1,370,000
58$1,511,931$1,439,321$1,418,086$1,634,951
59$1,603,707$1,447,407$1,403,151$1,723,855
60$1,702,878$1,453,923$1,385,750$1,813,423
61$1,810,136$1,458,729$1,365,736$1,909,997
62$1,926,241$1,461,678$1,342,960$2,014,248
63$2,052,030$1,462,613$1,317,261$2,126,912
64$2,188,423$1,461,367$1,288,475$2,248,802
65$2,336,431$1,457,763$1,256,428$2,380,813
66$2,497,167$1,451,613$1,220,939$2,523,929
67$2,671,854$1,442,718$1,181,816$2,679,235
68$2,861,839$1,430,867$1,138,862$2,847,927
69$3,068,602$1,415,834$1,091,870$3,031,322
70$3,293,772$1,397,383$1,040,620$3,230,870
71$3,539,144$1,375,262$984,888$3,448,171
72$3,806,689$1,349,203$924,435$3,684,983
73$4,098,581$1,318,923$859,012$3,943,249
74$4,417,209$1,284,123$788,362$4,225,106
75$4,765,206$1,244,486$712,214$4,532,911
76$5,145,467$1,199,677$630,283$4,869,258
77$5,561,183$1,149,339$542,276$5,237,010
78$6,015,864$1,093,098$447,883$5,639,318
79$6,513,378$1,030,555$346,782$6,079,656
80$7,057,980$961,290$238,637$6,561,854
81$7,654,359$884,858$123,097$7,090,129
82$8,307,678$800,790$0$7,669,133
83$9,023,621$708,589$0$8,304,012
84$9,808,450$607,730$0$9,014,408
85$10,669,061$497,657$0$9,793,441
86$11,613,049$377,786$0$10,648,014
87$12,648,780$247,497$0$11,585,735
88$13,785,468$106,137$0$12,614,982
89$15,033,263$0$0$13,744,989
90$16,403,346$0$0$14,989,548
91$17,908,034$0$0$16,365,386
92$19,560,893$0$0$17,876,738
93$21,376,870$0$0$19,537,273
94$23,372,432$0$0$21,362,051
95$25,565,717$0$0$23,367,664
96$27,976,709$0$0$25,572,390
97$30,627,427$0$0$27,996,366
98$33,542,126$0$0$30,661,780
99$36,747,532$0$0$33,593,073
100$40,273,089$0$0$36,817,179