Can I retire at age 58 with 1,470,000?

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 $1,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$121,391$120,310$119,255$118,225$117,220$113,650
2 years$60,095$58,975$57,891$56,839$55,819$52,253
3 years$39,665$38,541$37,459$36,417$35,414$31,963
4 years$29,452$28,332$27,261$26,237$25,257$21,949
5 years$23,326$22,212$21,155$20,152$19,200$16,043
6 years$19,244$18,138$17,097$16,116$15,193$12,189
7 years$16,329$15,232$14,207$13,250$12,356$9,506
8 years$14,143$13,057$12,049$11,115$10,250$7,553
9 years$12,444$11,368$10,378$9,467$8,632$6,084
10 years$11,086$10,021$9,048$8,161$7,355$4,952
11 years$9,976$8,921$7,965$7,103$6,326$4,064
12 years$9,051$8,007$7,069$6,230$5,482$3,356
13 years$8,269$7,236$6,316$5,500$4,780$2,786
14 years$7,599$6,577$5,675$4,882$4,190$2,323
15 years$7,020$6,008$5,124$4,354$3,689$1,943
16 years$6,513$5,513$4,645$3,899$3,261$1,630
17 years$6,066$5,077$4,227$3,503$2,891$1,371
18 years$5,669$4,691$3,859$3,157$2,571$1,155
19 years$5,315$4,348$3,532$2,852$2,291$974
20 years$4,996$4,040$3,242$2,583$2,047$823
21 years$4,708$3,763$2,982$2,345$1,831$696
22 years$4,447$3,513$2,748$2,132$1,642$589
23 years$4,208$3,286$2,538$1,942$1,474$499
24 years$3,990$3,078$2,347$1,771$1,325$423
25 years$3,790$2,889$2,174$1,617$1,192$359
26 years$3,605$2,715$2,016$1,479$1,074$305
27 years$3,435$2,555$1,872$1,353$968$259
28 years$3,276$2,408$1,740$1,240$873$220
29 years$3,129$2,271$1,619$1,137$789$187
30 years$2,992$2,145$1,508$1,044$713$159
31 years$2,864$2,028$1,406$958$644$135
32 years$2,745$1,919$1,312$881$583$115
33 years$2,633$1,817$1,225$810$527$98
34 years$2,527$1,722$1,145$745$478$83
35 years$2,428$1,633$1,070$686$433$71
36 years$2,335$1,550$1,001$632$392$60
37 years$2,247$1,473$937$582$355$51
38 years$2,163$1,399$877$537$322$43
39 years$2,084$1,331$822$495$292$37
40 years$2,010$1,266$771$456$265$31
41 years$1,939$1,205$723$421$240$27
42 years$1,872$1,148$678$389$218$23
43 years$1,808$1,094$636$359$198$19
44 years$1,747$1,042$597$331$180$16
45 years$1,689$994$561$306$163$14
46 years$1,633$948$526$283$148$12
47 years$1,580$905$495$261$134$10
48 years$1,530$864$465$241$122$9
49 years$1,481$825$437$223$111$7
50 years$1,435$788$411$206$101$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,470,000, adding $4,919 every year, while hoping to spend $54,730 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: 61/31/8 Blend
57$1,470,000$1,470,000$1,470,000$1,470,000
58$1,625,014$1,547,104$1,524,319$1,721,094
59$1,732,533$1,564,680$1,517,151$1,803,563
60$1,849,185$1,581,282$1,507,909$1,886,761
61$1,975,843$1,596,807$1,496,466$1,976,157
62$2,113,469$1,611,140$1,482,687$2,072,349
63$2,263,119$1,624,162$1,466,433$2,175,999
64$2,425,957$1,635,746$1,447,558$2,287,835
65$2,603,262$1,645,755$1,425,909$2,408,660
66$2,796,443$1,654,045$1,401,326$2,539,360
67$3,007,050$1,660,463$1,373,639$2,680,914
68$3,236,787$1,664,844$1,342,675$2,834,401
69$3,487,533$1,667,015$1,308,248$3,001,011
70$3,761,353$1,666,791$1,270,166$3,182,058
71$4,060,523$1,663,975$1,228,229$3,378,990
72$4,387,547$1,658,361$1,182,225$3,593,406
73$4,745,183$1,649,726$1,131,935$3,827,069
74$5,136,465$1,637,836$1,077,129$4,081,926
75$5,564,738$1,622,443$1,017,566$4,360,123
76$6,033,681$1,603,283$952,994$4,664,028
77$6,547,349$1,580,076$883,152$4,996,253
78$7,110,205$1,552,527$807,764$5,359,681
79$7,727,166$1,520,320$726,544$5,757,491
80$8,403,646$1,483,125$639,192$6,193,190
81$9,145,608$1,440,589$545,396$6,670,646
82$9,959,622$1,392,340$444,829$7,194,128
83$10,852,922$1,337,983$337,149$7,768,343
84$11,833,477$1,277,101$222,000$8,398,482
85$12,910,066$1,209,253$99,011$9,090,273
86$14,092,358$1,133,972$0$9,850,033
87$15,391,006$1,050,764$0$10,687,481
88$16,817,746$959,108$0$11,616,747
89$18,385,503$858,452$0$12,637,881
90$20,108,521$748,213$0$13,760,267
91$22,002,489$627,774$0$14,994,252
92$24,084,693$496,485$0$16,351,245
93$26,374,177$353,659$0$17,843,823
94$28,891,923$198,568$0$19,485,855
95$31,661,049$30,447$0$21,292,631
96$34,707,022$0$0$23,281,008
97$38,057,907$0$0$25,521,259
98$41,744,620$0$0$27,997,588
99$45,801,230$0$0$30,722,507
100$50,265,272$0$0$33,721,246