Can I retire at age 58 with 1,380,000?

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 $1,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$113,959$112,944$111,954$110,987$110,043$107,910
2 years$56,415$55,365$54,346$53,359$52,401$50,261
3 years$37,237$36,181$35,166$34,188$33,246$31,164
4 years$27,649$26,597$25,592$24,630$23,711$21,705
5 years$21,898$20,853$19,860$18,918$18,025$16,100
6 years$18,065$17,028$16,050$15,129$14,262$12,421
7 years$15,329$14,300$13,338$12,439$11,599$9,841
8 years$13,277$12,258$11,311$10,434$9,623$7,948
9 years$11,683$10,672$9,742$8,888$8,104$6,511
10 years$10,407$9,407$8,494$7,661$6,905$5,393
11 years$9,365$8,375$7,478$6,668$5,938$4,506
12 years$8,497$7,517$6,636$5,848$5,146$3,790
13 years$7,763$6,793$5,929$5,163$4,487$3,206
14 years$7,134$6,175$5,327$4,583$3,934$2,725
15 years$6,590$5,641$4,810$4,088$3,463$2,324
16 years$6,114$5,175$4,361$3,660$3,061$1,989
17 years$5,695$4,766$3,968$3,288$2,714$1,707
18 years$5,322$4,404$3,622$2,964$2,413$1,468
19 years$4,989$4,082$3,316$2,678$2,151$1,265
20 years$4,690$3,793$3,043$2,425$1,921$1,091
21 years$4,420$3,533$2,799$2,201$1,719$943
22 years$4,174$3,298$2,580$2,001$1,541$816
23 years$3,951$3,084$2,382$1,823$1,383$707
24 years$3,746$2,890$2,203$1,662$1,243$613
25 years$3,558$2,712$2,041$1,518$1,119$532
26 years$3,384$2,549$1,893$1,388$1,008$462
27 years$3,224$2,399$1,757$1,271$909$401
28 years$3,076$2,260$1,634$1,164$820$348
29 years$2,938$2,132$1,520$1,068$740$303
30 years$2,809$2,014$1,416$980$669$263
31 years$2,689$1,904$1,320$900$605$229
32 years$2,577$1,801$1,232$827$547$199
33 years$2,471$1,706$1,150$760$495$174
34 years$2,372$1,617$1,075$700$448$151
35 years$2,279$1,533$1,005$644$406$132
36 years$2,192$1,455$940$593$368$115
37 years$2,109$1,382$880$547$333$100
38 years$2,031$1,314$824$504$302$87
39 years$1,957$1,249$772$464$274$76
40 years$1,887$1,189$723$428$249$66
41 years$1,820$1,131$678$395$226$58
42 years$1,757$1,078$636$365$205$50
43 years$1,697$1,027$597$337$186$44
44 years$1,640$979$560$311$169$38
45 years$1,585$933$526$287$153$33
46 years$1,533$890$494$265$139$29
47 years$1,484$850$464$245$126$25
48 years$1,436$811$436$226$115$22
49 years$1,391$774$410$209$104$19
50 years$1,347$740$386$193$95$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,380,000, adding $3,795 every year, while hoping to spend $42,852 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: 41/42/17 Blend
57$1,380,000$1,380,000$1,380,000$1,380,000
58$1,524,675$1,451,535$1,430,145$1,579,398
59$1,634,597$1,477,066$1,432,460$1,644,090
60$1,754,296$1,502,411$1,433,417$1,709,605
61$1,884,722$1,527,518$1,432,925$1,779,610
62$2,026,924$1,552,326$1,430,888$1,854,536
63$2,182,054$1,576,774$1,427,206$1,934,858
64$2,351,381$1,600,793$1,421,776$2,021,103
65$2,536,302$1,624,313$1,414,486$2,113,850
66$2,738,356$1,647,255$1,405,222$2,213,740
67$2,959,235$1,669,537$1,393,863$2,321,480
68$3,200,802$1,691,070$1,380,283$2,437,851
69$3,465,111$1,711,759$1,364,349$2,563,716
70$3,754,421$1,731,504$1,345,924$2,700,028
71$4,071,220$1,750,196$1,324,861$2,847,836
72$4,418,249$1,767,720$1,301,008$3,008,303
73$4,798,526$1,783,954$1,274,207$3,182,709
74$5,215,374$1,798,766$1,244,291$3,372,470
75$5,672,453$1,812,016$1,211,086$3,579,147
76$6,173,795$1,823,557$1,174,409$3,804,465
77$6,723,841$1,833,230$1,134,071$4,050,327
78$7,327,482$1,840,868$1,089,871$4,318,834
79$7,990,105$1,846,290$1,041,602$4,612,305
80$8,717,645$1,849,307$989,045$4,933,299
81$9,516,639$1,849,718$931,972$5,284,642
82$10,394,289$1,847,307$870,146$5,669,451
83$11,358,529$1,841,847$803,318$6,091,166
84$12,418,097$1,833,097$731,228$6,553,585
85$13,582,624$1,820,799$653,605$7,060,898
86$14,862,715$1,804,682$570,164$7,617,726
87$16,270,057$1,784,456$480,610$8,229,173
88$17,817,526$1,759,817$384,633$8,900,865
89$19,519,306$1,730,441$281,911$9,639,013
90$21,391,026$1,695,983$172,106$10,450,468
91$23,449,905$1,656,081$54,865$11,342,788
92$25,714,915$1,610,348$0$12,324,310
93$28,206,959$1,558,378$0$13,416,976
94$30,949,069$1,499,739$0$14,629,638
95$33,966,622$1,433,974$0$15,963,596
96$37,287,579$1,360,601$0$17,431,272
97$40,942,749$1,279,107$0$19,046,359
98$44,966,079$1,188,953$0$20,823,958
99$49,394,974$1,089,567$0$22,780,716
100$54,270,651$980,345$0$24,934,989