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%12.8%
1 years$118,914$117,855$116,821$115,813$114,828$113,487
2 years$58,868$57,772$56,709$55,679$54,680$53,330
3 years$38,856$37,755$36,695$35,674$34,691$33,375
4 years$28,851$27,754$26,704$25,701$24,742$23,469
5 years$22,850$21,759$20,724$19,741$18,808$17,582
6 years$18,851$17,768$16,748$15,787$14,883$13,705
7 years$15,995$14,922$13,917$12,979$12,103$10,975
8 years$13,855$12,791$11,803$10,888$10,041$8,961
9 years$12,191$11,136$10,166$9,274$8,456$7,425
10 years$10,860$9,816$8,863$7,994$7,205$6,221
11 years$9,772$8,739$7,803$6,958$6,196$5,260
12 years$8,866$7,843$6,925$6,103$5,370$4,479
13 years$8,100$7,088$6,187$5,388$4,683$3,836
14 years$7,444$6,443$5,559$4,783$4,105$3,302
15 years$6,876$5,886$5,019$4,265$3,614$2,854
16 years$6,380$5,400$4,550$3,819$3,194$2,475
17 years$5,942$4,973$4,141$3,431$2,832$2,152
18 years$5,554$4,596$3,780$3,092$2,518$1,877
19 years$5,206$4,259$3,460$2,794$2,245$1,640
20 years$4,894$3,958$3,176$2,531$2,005$1,435
21 years$4,612$3,687$2,921$2,297$1,794$1,258
22 years$4,356$3,441$2,692$2,088$1,608$1,105
23 years$4,123$3,218$2,486$1,902$1,444$971
24 years$3,909$3,016$2,299$1,735$1,298$854
25 years$3,713$2,830$2,129$1,584$1,168$752
26 years$3,532$2,660$1,975$1,448$1,052$663
27 years$3,364$2,503$1,834$1,326$948$585
28 years$3,209$2,359$1,705$1,215$856$516
29 years$3,065$2,225$1,586$1,114$773$456
30 years$2,931$2,101$1,478$1,022$698$402
31 years$2,806$1,986$1,378$939$631$356
32 years$2,689$1,880$1,285$863$571$314
33 years$2,579$1,780$1,200$794$517$278
34 years$2,476$1,687$1,121$730$468$246
35 years$2,379$1,600$1,048$672$424$218
36 years$2,287$1,519$981$619$384$193
37 years$2,201$1,442$918$570$348$171
38 years$2,119$1,371$860$526$315$151
39 years$2,042$1,304$805$485$286$134
40 years$1,969$1,240$755$447$259$118
41 years$1,899$1,181$708$412$235$105
42 years$1,833$1,124$664$381$214$93
43 years$1,771$1,071$623$351$194$82
44 years$1,711$1,021$585$324$176$73
45 years$1,654$974$549$300$160$65
46 years$1,600$929$516$277$145$57
47 years$1,548$886$485$256$132$51
48 years$1,499$846$455$236$120$45
49 years$1,451$808$428$218$109$40
50 years$1,406$772$402$202$99$35

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 $2,190 every year, while hoping to spend $23,636 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: 43/30/27 Blend
57$1,440,000$1,440,000$1,440,000$1,440,000
58$1,589,139$1,512,819$1,490,499$1,644,877
59$1,726,083$1,561,799$1,515,282$1,733,952
60$1,876,202$1,612,386$1,540,103$1,827,987
61$2,040,817$1,664,635$1,564,939$1,929,420
62$2,221,380$1,718,602$1,589,764$2,038,949
63$2,419,490$1,774,343$1,614,551$2,157,342
64$2,636,912$1,831,919$1,639,271$2,285,448
65$2,875,585$1,891,391$1,663,895$2,424,195
66$3,137,648$1,952,823$1,688,389$2,574,608
67$3,425,458$2,016,281$1,712,720$2,737,816
68$3,741,609$2,081,833$1,736,850$2,915,058
69$4,088,960$2,149,549$1,760,742$3,107,702
70$4,470,660$2,219,504$1,784,353$3,317,251
71$4,890,180$2,291,773$1,807,642$3,545,362
72$5,351,342$2,366,433$1,830,561$3,793,857
73$5,858,357$2,443,565$1,853,062$4,064,743
74$6,415,864$2,523,255$1,875,095$4,360,233
75$7,028,975$2,605,588$1,896,604$4,682,759
76$7,703,323$2,690,654$1,917,532$5,035,004
77$8,445,112$2,778,546$1,937,820$5,419,919
78$9,261,179$2,869,360$1,957,402$5,840,758
79$10,159,056$2,963,196$1,976,213$6,301,102
80$11,147,045$3,060,158$1,994,180$6,804,897
81$12,234,288$3,160,350$2,011,231$7,356,490
82$13,430,864$3,263,885$2,027,285$7,960,667
83$14,747,873$3,370,877$2,042,260$8,622,703
84$16,197,550$3,481,444$2,056,069$9,348,409
85$17,793,373$3,595,708$2,068,621$10,144,183
86$19,550,197$3,713,797$2,079,819$11,017,079
87$21,484,386$3,835,842$2,089,562$11,974,864
88$23,613,974$3,961,979$2,097,744$13,026,097
89$25,958,834$4,092,350$2,104,252$14,180,208
90$28,540,860$4,227,101$2,108,970$15,447,585
91$31,384,181$4,366,382$2,111,774$16,839,675
92$34,515,384$4,510,351$2,112,535$18,369,091
93$37,963,765$4,659,170$2,111,116$20,049,727
94$41,761,607$4,813,007$2,107,376$21,896,895
95$45,944,483$4,972,037$2,101,166$23,927,465
96$50,551,593$5,136,440$2,092,328$26,160,025
97$55,626,133$5,306,403$2,080,698$28,615,057
98$61,215,701$5,482,119$2,066,104$31,315,130
99$67,372,750$5,663,791$2,048,366$34,285,111
100$74,155,079$5,851,625$2,027,295$37,552,402