Can I retire at age 58 with 1,410,000?

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 $1,410,000?

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$116,436$115,399$114,387$113,400$112,435$111,633
2 years$57,642$56,568$55,528$54,519$53,541$52,732
3 years$38,046$36,968$35,930$34,931$33,968$33,178
4 years$28,250$27,175$26,148$25,166$24,227$23,460
5 years$22,374$21,306$20,292$19,330$18,417$17,677
6 years$18,458$17,398$16,399$15,458$14,572$13,861
7 years$15,662$14,611$13,628$12,709$11,851$11,167
8 years$13,566$12,524$11,557$10,661$9,832$9,176
9 years$11,937$10,904$9,954$9,081$8,280$7,652
10 years$10,634$9,612$8,678$7,828$7,055$6,454
11 years$9,569$8,557$7,640$6,813$6,067$5,494
12 years$8,681$7,680$6,781$5,976$5,258$4,711
13 years$7,931$6,941$6,058$5,276$4,585$4,064
14 years$7,289$6,309$5,443$4,683$4,019$3,523
15 years$6,733$5,763$4,914$4,176$3,539$3,068
16 years$6,247$5,288$4,456$3,740$3,128$2,680
17 years$5,818$4,870$4,054$3,360$2,773$2,349
18 years$5,438$4,500$3,701$3,028$2,466$2,064
19 years$5,098$4,170$3,388$2,736$2,198$1,818
20 years$4,792$3,875$3,110$2,478$1,963$1,604
21 years$4,516$3,610$2,860$2,249$1,757$1,418
22 years$4,265$3,370$2,636$2,045$1,575$1,255
23 years$4,037$3,151$2,434$1,862$1,414$1,112
24 years$3,827$2,953$2,251$1,698$1,270$987
25 years$3,635$2,771$2,085$1,551$1,143$877
26 years$3,458$2,604$1,934$1,418$1,030$779
27 years$3,294$2,451$1,796$1,298$928$693
28 years$3,143$2,309$1,669$1,189$838$617
29 years$3,002$2,179$1,553$1,091$756$550
30 years$2,870$2,058$1,447$1,001$684$490
31 years$2,747$1,945$1,349$919$618$437
32 years$2,633$1,840$1,259$845$559$390
33 years$2,525$1,743$1,175$777$506$348
34 years$2,424$1,652$1,098$715$458$311
35 years$2,329$1,567$1,026$658$415$277
36 years$2,239$1,487$960$606$376$248
37 years$2,155$1,412$899$558$341$221
38 years$2,075$1,342$842$515$309$198
39 years$1,999$1,276$789$475$280$177
40 years$1,928$1,214$739$438$254$158
41 years$1,860$1,156$693$404$230$141
42 years$1,795$1,101$650$373$209$126
43 years$1,734$1,049$610$344$190$113
44 years$1,675$1,000$573$318$172$101
45 years$1,620$953$538$293$156$90
46 years$1,566$910$505$271$142$81
47 years$1,516$868$474$250$129$72
48 years$1,467$829$446$231$117$65
49 years$1,421$791$419$214$106$58
50 years$1,377$756$394$198$97$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,410,000, adding $3,420 every year, while hoping to spend $38,516 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: 43/39/18 Blend
57$1,410,000$1,410,000$1,410,000$1,410,000
58$1,557,348$1,482,618$1,460,763$1,616,021
59$1,675,216$1,514,285$1,468,718$1,689,381
60$1,803,817$1,546,214$1,475,648$1,764,760
61$1,944,203$1,578,375$1,481,479$1,845,617
62$2,097,535$1,610,739$1,486,132$1,932,476
63$2,265,090$1,643,271$1,489,524$2,025,912
64$2,448,275$1,675,937$1,491,568$2,126,560
65$2,648,636$1,708,695$1,492,173$2,235,122
66$2,867,880$1,741,504$1,491,244$2,352,370
67$3,107,883$1,774,317$1,488,680$2,479,155
68$3,370,711$1,807,083$1,484,375$2,616,417
69$3,658,642$1,839,748$1,478,219$2,765,192
70$3,974,181$1,872,254$1,470,098$2,926,623
71$4,320,090$1,904,536$1,459,888$3,101,968
72$4,699,408$1,936,527$1,447,463$3,292,617
73$5,115,485$1,968,154$1,432,690$3,500,104
74$5,572,008$1,999,338$1,415,430$3,726,116
75$6,073,042$2,029,995$1,395,535$3,972,519
76$6,623,061$2,060,033$1,372,854$4,241,366
77$7,226,994$2,089,356$1,347,226$4,534,926
78$7,890,273$2,117,860$1,318,484$4,855,697
79$8,618,879$2,145,433$1,286,451$5,206,437
80$9,419,403$2,171,957$1,250,945$5,590,185
81$10,299,104$2,197,305$1,211,774$6,010,294
82$11,265,981$2,221,341$1,168,737$6,470,461
83$12,328,845$2,243,921$1,121,623$6,974,765
84$13,497,403$2,264,889$1,070,214$7,527,700
85$14,782,352$2,284,082$1,014,279$8,134,226
86$16,195,474$2,301,324$953,580$8,799,809
87$17,749,752$2,316,429$887,864$9,530,479
88$19,459,490$2,329,197$816,871$10,332,885
89$21,340,448$2,339,418$740,326$11,214,357
90$23,409,991$2,346,866$657,944$12,182,978
91$25,687,250$2,351,304$569,426$13,247,661
92$28,193,308$2,352,476$474,460$14,418,235
93$30,951,391$2,350,113$372,720$15,705,535
94$33,987,094$2,343,929$263,867$17,121,508
95$37,328,615$2,333,619$147,545$18,679,328
96$41,007,030$2,318,862$23,383$20,393,519
97$45,056,575$2,299,315$0$22,280,092
98$49,514,980$2,274,615$0$24,377,660
99$54,423,815$2,244,378$0$26,690,884
100$59,828,887$2,208,196$0$29,236,807