Can I retire at age 58 with 1,400,000?

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 $1,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$115,611$114,581$113,576$112,596$111,638$110,842
2 years$57,233$56,167$55,134$54,132$53,161$52,358
3 years$37,776$36,706$35,675$34,683$33,727$32,943
4 years$28,050$26,983$25,963$24,987$24,055$23,294
5 years$22,216$21,155$20,148$19,193$18,286$17,552
6 years$18,327$17,274$16,283$15,349$14,469$13,762
7 years$15,551$14,507$13,531$12,619$11,767$11,088
8 years$13,470$12,435$11,475$10,586$9,762$9,111
9 years$11,852$10,827$9,884$9,017$8,221$7,597
10 years$10,558$9,544$8,617$7,772$7,005$6,408
11 years$9,501$8,496$7,586$6,764$6,024$5,455
12 years$8,620$7,626$6,732$5,933$5,221$4,677
13 years$7,875$6,891$6,015$5,238$4,552$4,035
14 years$7,237$6,264$5,405$4,650$3,991$3,498
15 years$6,685$5,722$4,880$4,147$3,514$3,046
16 years$6,203$5,250$4,424$3,713$3,105$2,661
17 years$5,777$4,835$4,026$3,336$2,753$2,332
18 years$5,399$4,468$3,675$3,007$2,448$2,050
19 years$5,062$4,141$3,364$2,717$2,182$1,805
20 years$4,758$3,848$3,088$2,460$1,949$1,593
21 years$4,484$3,584$2,840$2,233$1,744$1,408
22 years$4,235$3,346$2,617$2,030$1,563$1,246
23 years$4,008$3,129$2,417$1,849$1,403$1,104
24 years$3,800$2,932$2,235$1,686$1,261$980
25 years$3,609$2,751$2,070$1,540$1,135$871
26 years$3,434$2,586$1,920$1,408$1,022$774
27 years$3,271$2,434$1,783$1,289$922$689
28 years$3,120$2,293$1,657$1,181$832$613
29 years$2,980$2,163$1,542$1,083$751$546
30 years$2,850$2,043$1,437$994$679$487
31 years$2,728$1,931$1,339$913$614$434
32 years$2,614$1,827$1,250$839$555$387
33 years$2,507$1,731$1,167$771$502$346
34 years$2,407$1,640$1,090$710$455$309
35 years$2,312$1,556$1,019$653$412$276
36 years$2,224$1,477$953$602$373$246
37 years$2,140$1,402$892$554$338$220
38 years$2,060$1,333$836$511$307$197
39 years$1,985$1,267$783$471$278$176
40 years$1,914$1,206$734$435$252$157
41 years$1,847$1,148$688$401$229$140
42 years$1,782$1,093$646$370$208$126
43 years$1,721$1,042$606$342$188$112
44 years$1,663$993$569$315$171$100
45 years$1,608$947$534$291$155$90
46 years$1,555$903$501$269$141$80
47 years$1,505$862$471$249$128$72
48 years$1,457$823$443$230$116$64
49 years$1,411$786$416$212$106$58
50 years$1,367$751$391$196$96$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,400,000, adding $6,009 every year, while hoping to spend $39,024 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: 50/35/15 Blend
57$1,400,000$1,400,000$1,400,000$1,400,000
58$1,548,998$1,474,798$1,453,098$1,619,783
59$1,665,475$1,505,542$1,460,256$1,699,851
60$1,792,524$1,536,485$1,466,345$1,782,255
61$1,931,183$1,567,594$1,471,290$1,870,944
62$2,082,594$1,598,836$1,475,008$1,966,520
63$2,248,013$1,630,174$1,477,415$2,069,650
64$2,428,825$1,661,566$1,478,423$2,181,067
65$2,626,552$1,692,970$1,477,937$2,301,581
66$2,842,871$1,724,337$1,475,859$2,432,082
67$3,079,630$1,755,615$1,472,086$2,573,555
68$3,338,862$1,786,751$1,466,511$2,727,081
69$3,622,807$1,817,682$1,459,020$2,893,857
70$3,933,931$1,848,346$1,449,495$3,075,198
71$4,274,950$1,878,673$1,437,811$3,272,557
72$4,648,855$1,908,588$1,423,837$3,487,535
73$5,058,941$1,938,012$1,407,439$3,721,896
74$5,508,837$1,966,858$1,388,472$3,977,587
75$6,002,539$1,995,035$1,366,786$4,256,753
76$6,544,451$2,022,444$1,342,226$4,561,759
77$7,139,421$2,048,981$1,314,628$4,895,214
78$7,792,793$2,074,532$1,283,819$5,259,995
79$8,510,452$2,098,977$1,249,620$5,659,270
80$9,298,879$2,122,188$1,211,844$6,096,538
81$10,165,217$2,144,028$1,170,293$6,575,651
82$11,117,335$2,164,351$1,124,763$7,100,860
83$12,163,899$2,183,000$1,075,039$7,676,850
84$13,314,459$2,199,810$1,020,895$8,308,789
85$14,579,537$2,214,603$962,098$9,002,370
86$15,970,723$2,227,192$898,401$9,763,876
87$17,500,788$2,237,376$829,549$10,600,228
88$19,183,803$2,244,942$755,274$11,519,061
89$21,035,271$2,249,664$675,295$12,528,790
90$23,072,272$2,251,301$589,321$13,638,693
91$25,313,626$2,249,597$497,046$14,858,999
92$27,780,070$2,244,281$398,151$16,200,985
93$30,494,451$2,235,065$292,303$17,677,083
94$33,481,945$2,221,643$179,155$19,300,998
95$36,770,291$2,203,691$58,344$21,087,840
96$40,390,053$2,180,865$0$23,054,265
97$44,374,911$2,152,800$0$25,229,932
98$48,761,974$2,119,109$0$27,634,487
99$53,592,133$2,079,383$0$30,280,960
100$58,910,447$2,033,189$0$33,194,021