Can I retire at age 58 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$117,262$116,218$115,199$114,204$113,233$109,259
2 years$58,051$56,969$55,922$54,906$53,920$49,958
3 years$38,316$37,230$36,185$35,179$34,209$30,384
4 years$28,451$27,368$26,333$25,344$24,398$20,738
5 years$22,533$21,457$20,436$19,467$18,547$15,063
6 years$18,589$17,521$16,515$15,568$14,676$11,369
7 years$15,773$14,714$13,724$12,799$11,935$8,806
8 years$13,662$12,613$11,639$10,737$9,902$6,947
9 years$12,021$10,982$10,025$9,145$8,339$5,555
10 years$10,709$9,680$8,740$7,883$7,105$4,488
11 years$9,636$8,617$7,694$6,861$6,110$3,654
12 years$8,743$7,735$6,829$6,018$5,295$2,994
13 years$7,988$6,990$6,101$5,313$4,617$2,466
14 years$7,341$6,354$5,482$4,716$4,048$2,038
15 years$6,781$5,804$4,949$4,206$3,564$1,691
16 years$6,291$5,325$4,487$3,766$3,150$1,406
17 years$5,860$4,904$4,083$3,384$2,793$1,172
18 years$5,476$4,532$3,727$3,049$2,483$978
19 years$5,134$4,200$3,412$2,755$2,213$818
20 years$4,826$3,903$3,132$2,496$1,977$685
21 years$4,548$3,635$2,880$2,265$1,769$574
22 years$4,295$3,393$2,655$2,059$1,586$481
23 years$4,065$3,174$2,451$1,875$1,424$404
24 years$3,855$2,974$2,267$1,711$1,280$339
25 years$3,661$2,791$2,100$1,562$1,151$285
26 years$3,483$2,623$1,947$1,428$1,037$240
27 years$3,318$2,468$1,808$1,307$935$202
28 years$3,165$2,326$1,681$1,198$844$170
29 years$3,023$2,194$1,564$1,098$762$143
30 years$2,891$2,072$1,457$1,008$688$120
31 years$2,767$1,959$1,358$926$622$101
32 years$2,651$1,854$1,267$851$563$85
33 years$2,543$1,755$1,183$782$509$72
34 years$2,441$1,664$1,106$720$461$60
35 years$2,346$1,578$1,034$663$418$51
36 years$2,255$1,498$967$610$379$43
37 years$2,170$1,422$905$562$343$36
38 years$2,090$1,352$848$518$311$30
39 years$2,014$1,285$794$478$282$26
40 years$1,941$1,223$744$441$256$22
41 years$1,873$1,164$698$407$232$18
42 years$1,808$1,109$655$375$211$15
43 years$1,746$1,056$614$347$191$13
44 years$1,687$1,007$577$320$173$11
45 years$1,631$960$541$295$158$9
46 years$1,578$916$509$273$143$8
47 years$1,527$874$478$252$130$6
48 years$1,478$835$449$233$118$5
49 years$1,431$797$422$215$107$5
50 years$1,386$761$397$199$97$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,420,000, adding $3,849 every year, while hoping to spend $31,457 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: 47/31/22 Blend
57$1,420,000$1,420,000$1,420,000$1,420,000
58$1,568,810$1,493,550$1,471,540$1,632,541
59$1,695,359$1,533,264$1,487,367$1,717,239
60$1,833,761$1,573,870$1,502,669$1,805,681
61$1,985,193$1,615,378$1,517,397$1,901,037
62$2,150,949$1,657,798$1,531,496$2,003,968
63$2,332,455$1,701,139$1,544,911$2,115,203
64$2,531,281$1,745,410$1,557,581$2,235,544
65$2,749,157$1,790,620$1,569,444$2,365,877
66$2,987,985$1,836,775$1,580,435$2,507,173
67$3,249,864$1,883,882$1,590,485$2,660,507
68$3,537,104$1,931,946$1,599,519$2,827,059
69$3,852,249$1,980,971$1,607,463$3,008,132
70$4,198,100$2,030,960$1,614,235$3,205,159
71$4,577,745$2,081,916$1,619,751$3,419,722
72$4,994,585$2,133,840$1,623,922$3,653,561
73$5,452,364$2,186,730$1,626,655$3,908,595
74$5,955,209$2,240,583$1,627,852$4,186,938
75$6,507,666$2,295,397$1,627,410$4,490,921
76$7,114,741$2,351,165$1,625,222$4,823,109
77$7,781,952$2,407,880$1,621,174$5,186,333
78$8,515,376$2,465,530$1,615,149$5,583,710
79$9,321,708$2,524,106$1,607,020$6,018,675
80$10,208,326$2,583,590$1,596,659$6,495,017
81$11,183,357$2,643,968$1,583,929$7,016,906
82$12,255,755$2,705,218$1,568,686$7,588,943
83$13,435,386$2,767,318$1,550,781$8,216,196
84$14,733,121$2,830,241$1,530,057$8,904,251
85$16,160,934$2,893,958$1,506,349$9,659,264
86$17,732,024$2,958,437$1,479,486$10,488,021
87$19,460,928$3,023,638$1,449,287$11,397,998
88$21,363,669$3,089,522$1,415,564$12,397,438
89$23,457,897$3,156,043$1,378,120$13,495,423
90$25,763,064$3,223,150$1,336,748$14,701,965
91$28,300,600$3,290,788$1,291,232$16,028,097
92$31,094,120$3,358,896$1,241,348$17,485,980
93$34,169,645$3,427,407$1,186,858$19,089,014
94$37,555,848$3,496,248$1,127,517$20,851,971
95$41,284,322$3,565,342$1,063,065$22,791,131
96$45,389,880$3,634,601$993,235$24,924,436
97$49,910,883$3,703,932$917,744$27,271,660
98$54,889,603$3,773,234$836,298$29,854,597
99$60,372,618$3,842,398$748,590$32,697,268
100$66,411,255$3,911,306$654,298$35,826,146