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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.5%
1 years$121,391$120,310$119,255$118,225$117,220$115,996
2 years$60,095$58,975$57,891$56,839$55,819$54,586
3 years$39,665$38,541$37,459$36,417$35,414$34,211
4 years$29,452$28,332$27,261$26,237$25,257$24,093
5 years$23,326$22,212$21,155$20,152$19,200$18,078
6 years$19,244$18,138$17,097$16,116$15,193$14,114
7 years$16,329$15,232$14,207$13,250$12,356$11,322
8 years$14,143$13,057$12,049$11,115$10,250$9,260
9 years$12,444$11,368$10,378$9,467$8,632$7,686
10 years$11,086$10,021$9,048$8,161$7,355$6,452
11 years$9,976$8,921$7,965$7,103$6,326$5,465
12 years$9,051$8,007$7,069$6,230$5,482$4,662
13 years$8,269$7,236$6,316$5,500$4,780$4,001
14 years$7,599$6,577$5,675$4,882$4,190$3,451
15 years$7,020$6,008$5,124$4,354$3,689$2,988
16 years$6,513$5,513$4,645$3,899$3,261$2,597
17 years$6,066$5,077$4,227$3,503$2,891$2,263
18 years$5,669$4,691$3,859$3,157$2,571$1,978
19 years$5,315$4,348$3,532$2,852$2,291$1,732
20 years$4,996$4,040$3,242$2,583$2,047$1,519
21 years$4,708$3,763$2,982$2,345$1,831$1,335
22 years$4,447$3,513$2,748$2,132$1,642$1,174
23 years$4,208$3,286$2,538$1,942$1,474$1,035
24 years$3,990$3,078$2,347$1,771$1,325$912
25 years$3,790$2,889$2,174$1,617$1,192$805
26 years$3,605$2,715$2,016$1,479$1,074$712
27 years$3,435$2,555$1,872$1,353$968$629
28 years$3,276$2,408$1,740$1,240$873$556
29 years$3,129$2,271$1,619$1,137$789$493
30 years$2,992$2,145$1,508$1,044$713$436
31 years$2,864$2,028$1,406$958$644$386
32 years$2,745$1,919$1,312$881$583$342
33 years$2,633$1,817$1,225$810$527$304
34 years$2,527$1,722$1,145$745$478$269
35 years$2,428$1,633$1,070$686$433$239
36 years$2,335$1,550$1,001$632$392$212
37 years$2,247$1,473$937$582$355$188
38 years$2,163$1,399$877$537$322$167
39 years$2,084$1,331$822$495$292$148
40 years$2,010$1,266$771$456$265$132
41 years$1,939$1,205$723$421$240$117
42 years$1,872$1,148$678$389$218$104
43 years$1,808$1,094$636$359$198$92
44 years$1,747$1,042$597$331$180$82
45 years$1,689$994$561$306$163$73
46 years$1,633$948$526$283$148$65
47 years$1,580$905$495$261$134$57
48 years$1,530$864$465$241$122$51
49 years$1,481$825$437$223$111$45
50 years$1,435$788$411$206$101$40

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 $4,003 every year, while hoping to spend $50,980 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: 73/22/5 Blend
57$1,470,000$1,470,000$1,470,000$1,470,000
58$1,624,069$1,546,159$1,523,374$1,741,683
59$1,735,482$1,567,679$1,520,165$1,841,184
60$1,856,550$1,588,544$1,515,139$1,943,282
61$1,988,205$1,608,669$1,508,183$2,053,631
62$2,131,470$1,627,962$1,499,176$2,173,028
63$2,287,474$1,646,326$1,487,992$2,302,349
64$2,457,455$1,663,655$1,474,498$2,442,562
65$2,642,779$1,679,838$1,458,558$2,594,733
66$2,844,948$1,694,756$1,440,025$2,760,034
67$3,065,616$1,708,282$1,418,749$2,939,759
68$3,306,602$1,720,280$1,394,570$3,135,332
69$3,569,909$1,730,608$1,367,323$3,348,324
70$3,857,744$1,739,113$1,336,832$3,580,466
71$4,172,535$1,745,630$1,302,917$3,833,663
72$4,516,956$1,749,988$1,265,387$4,110,017
73$4,893,950$1,752,002$1,224,042$4,411,845
74$5,306,761$1,751,478$1,178,675$4,741,698
75$5,758,957$1,748,207$1,129,067$5,102,390
76$6,254,470$1,741,969$1,074,991$5,497,020
77$6,797,632$1,732,531$1,016,208$5,929,008
78$7,393,209$1,719,644$952,470$6,402,118
79$8,046,455$1,703,045$883,517$6,920,502
80$8,763,156$1,682,456$809,077$7,488,737
81$9,549,683$1,657,582$728,866$8,111,866
82$10,413,055$1,628,107$642,587$8,795,447
83$11,361,003$1,593,702$549,931$9,545,609
84$12,402,047$1,554,014$450,574$10,369,106
85$13,545,566$1,508,671$344,179$11,273,382
86$14,801,897$1,457,280$230,393$12,266,643
87$16,182,427$1,399,423$108,847$13,357,934
88$17,699,699$1,334,659$0$14,557,224
89$19,367,533$1,262,522$0$15,876,617
90$21,201,153$1,182,517$0$17,333,380
91$23,217,334$1,094,124$0$18,935,075
92$25,434,555$996,789$0$20,696,441
93$27,873,179$889,931$0$22,633,722
94$30,555,637$772,932$0$24,764,825
95$33,506,647$645,140$0$27,109,481
96$36,753,442$505,869$0$29,689,440
97$40,326,026$354,390$0$32,528,673
98$44,257,463$189,937$0$35,653,599
99$48,584,178$11,698$0$39,093,336
100$53,346,310$0$0$42,879,977