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%19.2%
1 years$121,391$120,310$119,255$118,225$117,220$112,881
2 years$60,095$58,975$57,891$56,839$55,819$51,497
3 years$39,665$38,541$37,459$36,417$35,414$31,244
4 years$29,452$28,332$27,261$26,237$25,257$21,272
5 years$23,326$22,212$21,155$20,152$19,200$15,410
6 years$19,244$18,138$17,097$16,116$15,193$11,599
7 years$16,329$15,232$14,207$13,250$12,356$8,959
8 years$14,143$13,057$12,049$11,115$10,250$7,046
9 years$12,444$11,368$10,378$9,467$8,632$5,617
10 years$11,086$10,021$9,048$8,161$7,355$4,524
11 years$9,976$8,921$7,965$7,103$6,326$3,672
12 years$9,051$8,007$7,069$6,230$5,482$2,998
13 years$8,269$7,236$6,316$5,500$4,780$2,461
14 years$7,599$6,577$5,675$4,882$4,190$2,027
15 years$7,020$6,008$5,124$4,354$3,689$1,675
16 years$6,513$5,513$4,645$3,899$3,261$1,388
17 years$6,066$5,077$4,227$3,503$2,891$1,153
18 years$5,669$4,691$3,859$3,157$2,571$959
19 years$5,315$4,348$3,532$2,852$2,291$799
20 years$4,996$4,040$3,242$2,583$2,047$666
21 years$4,708$3,763$2,982$2,345$1,831$556
22 years$4,447$3,513$2,748$2,132$1,642$465
23 years$4,208$3,286$2,538$1,942$1,474$388
24 years$3,990$3,078$2,347$1,771$1,325$325
25 years$3,790$2,889$2,174$1,617$1,192$272
26 years$3,605$2,715$2,016$1,479$1,074$228
27 years$3,435$2,555$1,872$1,353$968$191
28 years$3,276$2,408$1,740$1,240$873$160
29 years$3,129$2,271$1,619$1,137$789$134
30 years$2,992$2,145$1,508$1,044$713$112
31 years$2,864$2,028$1,406$958$644$94
32 years$2,745$1,919$1,312$881$583$79
33 years$2,633$1,817$1,225$810$527$66
34 years$2,527$1,722$1,145$745$478$55
35 years$2,428$1,633$1,070$686$433$46
36 years$2,335$1,550$1,001$632$392$39
37 years$2,247$1,473$937$582$355$33
38 years$2,163$1,399$877$537$322$27
39 years$2,084$1,331$822$495$292$23
40 years$2,010$1,266$771$456$265$19
41 years$1,939$1,205$723$421$240$16
42 years$1,872$1,148$678$389$218$14
43 years$1,808$1,094$636$359$198$11
44 years$1,747$1,042$597$331$180$10
45 years$1,689$994$561$306$163$8
46 years$1,633$948$526$283$148$7
47 years$1,580$905$495$261$134$6
48 years$1,530$864$465$241$122$5
49 years$1,481$825$437$223$111$4
50 years$1,435$788$411$206$101$3

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 $2,798 every year, while hoping to spend $44,003 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: 37/47/16 Blend
57$1,470,000$1,470,000$1,470,000$1,470,000
58$1,622,826$1,544,916$1,522,131$1,674,890
59$1,741,536$1,573,798$1,526,304$1,741,509
60$1,870,879$1,602,621$1,529,141$1,809,025
61$2,011,893$1,631,334$1,530,553$1,881,012
62$2,165,722$1,659,885$1,530,442$1,957,897
63$2,333,623$1,688,217$1,528,709$2,040,146
64$2,516,981$1,716,268$1,525,249$2,128,276
65$2,717,318$1,743,970$1,519,950$2,222,857
66$2,936,314$1,771,254$1,512,698$2,324,520
67$3,175,815$1,798,042$1,503,370$2,433,961
68$3,437,854$1,824,253$1,491,839$2,551,946
69$3,724,673$1,849,798$1,477,973$2,679,324
70$4,038,735$1,874,584$1,461,631$2,817,030
71$4,382,758$1,898,511$1,442,667$2,966,100
72$4,759,731$1,921,470$1,420,928$3,127,673
73$5,172,948$1,943,346$1,396,254$3,303,010
74$5,626,037$1,964,018$1,368,477$3,493,502
75$6,122,992$1,983,355$1,337,420$3,700,683
76$6,668,215$2,001,216$1,302,901$3,926,251
77$7,266,551$2,017,455$1,264,727$4,172,075
78$7,923,341$2,031,911$1,222,696$4,440,222
79$8,644,464$2,044,417$1,176,599$4,732,972
80$9,436,400$2,054,794$1,126,216$5,052,842
81$10,306,284$2,062,851$1,071,316$5,402,610
82$11,261,979$2,068,384$1,011,659$5,785,341
83$12,312,145$2,071,179$946,993$6,204,420
84$13,466,323$2,071,007$877,057$6,663,580
85$14,735,026$2,067,623$801,576$7,166,943
86$16,129,833$2,060,771$720,263$7,719,056
87$17,663,502$2,050,176$632,819$8,324,936
88$19,350,092$2,035,547$538,931$8,990,121
89$21,205,089$2,016,576$438,272$9,720,718
90$23,245,555$1,992,936$330,502$10,523,469
91$25,490,292$1,964,280$215,264$11,405,810
92$27,960,014$1,930,242$92,187$12,375,943
93$30,677,543$1,890,431$0$13,442,920
94$33,668,027$1,844,436$0$14,623,408
95$36,959,173$1,791,821$0$15,938,966
96$40,581,512$1,732,124$0$17,386,059
97$44,568,683$1,664,855$0$18,978,161
98$48,957,754$1,589,498$0$20,730,132
99$53,789,566$1,505,504$0$22,658,353
100$59,109,123$1,412,296$0$24,780,889