Can I retire at age 58 with 1,440,000?

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$118,914$117,855$116,821$115,813$114,828$110,578
2 years$58,868$57,772$56,709$55,679$54,680$50,446
3 years$38,856$37,755$36,695$35,674$34,691$30,607
4 years$28,851$27,754$26,704$25,701$24,742$20,838
5 years$22,850$21,759$20,724$19,741$18,808$15,095
6 years$18,851$17,768$16,748$15,787$14,883$11,362
7 years$15,995$14,922$13,917$12,979$12,103$8,776
8 years$13,855$12,791$11,803$10,888$10,041$6,903
9 years$12,191$11,136$10,166$9,274$8,456$5,503
10 years$10,860$9,816$8,863$7,994$7,205$4,431
11 years$9,772$8,739$7,803$6,958$6,196$3,597
12 years$8,866$7,843$6,925$6,103$5,370$2,937
13 years$8,100$7,088$6,187$5,388$4,683$2,410
14 years$7,444$6,443$5,559$4,783$4,105$1,986
15 years$6,876$5,886$5,019$4,265$3,614$1,641
16 years$6,380$5,400$4,550$3,819$3,194$1,360
17 years$5,942$4,973$4,141$3,431$2,832$1,129
18 years$5,554$4,596$3,780$3,092$2,518$939
19 years$5,206$4,259$3,460$2,794$2,245$782
20 years$4,894$3,958$3,176$2,531$2,005$653
21 years$4,612$3,687$2,921$2,297$1,794$545
22 years$4,356$3,441$2,692$2,088$1,608$455
23 years$4,123$3,218$2,486$1,902$1,444$380
24 years$3,909$3,016$2,299$1,735$1,298$318
25 years$3,713$2,830$2,129$1,584$1,168$266
26 years$3,532$2,660$1,975$1,448$1,052$223
27 years$3,364$2,503$1,834$1,326$948$187
28 years$3,209$2,359$1,705$1,215$856$156
29 years$3,065$2,225$1,586$1,114$773$131
30 years$2,931$2,101$1,478$1,022$698$110
31 years$2,806$1,986$1,378$939$631$92
32 years$2,689$1,880$1,285$863$571$77
33 years$2,579$1,780$1,200$794$517$65
34 years$2,476$1,687$1,121$730$468$54
35 years$2,379$1,600$1,048$672$424$46
36 years$2,287$1,519$981$619$384$38
37 years$2,201$1,442$918$570$348$32
38 years$2,119$1,371$860$526$315$27
39 years$2,042$1,304$805$485$286$23
40 years$1,969$1,240$755$447$259$19
41 years$1,899$1,181$708$412$235$16
42 years$1,833$1,124$664$381$214$13
43 years$1,771$1,071$623$351$194$11
44 years$1,711$1,021$585$324$176$9
45 years$1,654$974$549$300$160$8
46 years$1,600$929$516$277$145$7
47 years$1,548$886$485$256$132$6
48 years$1,499$846$455$236$120$5
49 years$1,451$808$428$218$109$4
50 years$1,406$772$402$202$99$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,440,000, adding $6,933 every year, while hoping to spend $34,295 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: 42/43/15 Blend
57$1,440,000$1,440,000$1,440,000$1,440,000
58$1,594,031$1,517,711$1,495,391$1,653,706
59$1,720,133$1,555,590$1,508,997$1,734,274
60$1,857,948$1,594,174$1,521,910$1,817,545
61$2,008,633$1,633,464$1,534,069$1,906,978
62$2,173,466$1,673,456$1,545,413$2,003,152
63$2,353,851$1,714,147$1,555,875$2,106,704
64$2,551,333$1,755,530$1,565,386$2,218,337
65$2,767,617$1,797,598$1,573,874$2,338,826
66$3,004,576$1,840,343$1,581,262$2,469,022
67$3,264,278$1,883,755$1,587,469$2,609,865
68$3,548,996$1,927,820$1,592,411$2,762,388
69$3,861,236$1,972,526$1,595,999$2,927,731
70$4,203,757$2,017,854$1,598,139$3,107,150
71$4,579,598$2,063,787$1,598,735$3,302,027
72$4,992,107$2,110,303$1,597,683$3,513,887
73$5,444,972$2,157,378$1,594,876$3,744,408
74$5,942,255$2,204,985$1,590,200$3,995,442
75$6,488,431$2,253,095$1,583,537$4,269,028
76$7,088,428$2,301,674$1,574,763$4,567,414
77$7,747,678$2,350,686$1,563,748$4,893,075
78$8,472,163$2,400,091$1,550,355$5,248,743
79$9,268,473$2,449,845$1,534,441$5,637,425
80$10,143,869$2,499,900$1,515,857$6,062,438
81$11,106,351$2,550,202$1,494,445$6,527,436
82$12,164,732$2,600,696$1,470,043$7,036,447
83$13,328,722$2,651,317$1,442,477$7,593,911
84$14,609,020$2,702,000$1,411,568$8,204,720
85$16,017,413$2,752,670$1,377,128$8,874,269
86$17,566,886$2,803,249$1,338,959$9,608,503
87$19,271,751$2,853,650$1,296,857$10,413,973
88$21,147,773$2,903,783$1,250,605$11,297,903
89$23,212,324$2,953,546$1,199,978$12,268,252
90$25,484,544$3,002,833$1,144,740$13,333,796
91$27,985,524$3,051,528$1,084,646$14,504,207
92$30,738,504$3,099,509$1,019,438$15,790,143
93$33,769,089$3,146,643$948,846$17,203,357
94$37,105,494$3,192,786$872,591$18,756,798
95$40,778,809$3,237,788$790,377$20,464,744
96$44,823,292$3,281,483$701,899$22,342,928
97$49,276,691$3,323,699$606,836$24,408,693
98$54,180,601$3,364,248$504,853$26,681,157
99$59,580,858$3,402,932$395,600$29,181,390
100$65,527,966$3,439,536$278,714$31,932,614