Can I retire at age 58 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$122,217$121,128$120,066$119,030$118,017$115,258
2 years$60,503$59,377$58,285$57,226$56,199$53,434
3 years$39,935$38,803$37,714$36,665$35,655$32,972
4 years$29,653$28,525$27,446$26,415$25,429$22,848
5 years$23,485$22,364$21,299$20,289$19,331$16,859
6 years$19,375$18,262$17,213$16,226$15,296$12,936
7 years$16,440$15,336$14,304$13,340$12,440$10,192
8 years$14,239$13,146$12,131$11,191$10,320$8,184
9 years$12,529$11,446$10,448$9,532$8,691$6,664
10 years$11,162$10,089$9,109$8,217$7,405$5,486
11 years$10,044$8,982$8,020$7,151$6,369$4,554
12 years$9,112$8,061$7,117$6,272$5,519$3,806
13 years$8,325$7,285$6,359$5,537$4,813$3,198
14 years$7,651$6,622$5,713$4,916$4,219$2,700
15 years$7,067$6,049$5,158$4,384$3,714$2,287
16 years$6,557$5,550$4,677$3,925$3,283$1,943
17 years$6,107$5,111$4,256$3,527$2,911$1,655
18 years$5,708$4,723$3,885$3,178$2,588$1,413
19 years$5,351$4,377$3,556$2,872$2,307$1,209
20 years$5,030$4,068$3,264$2,601$2,061$1,035
21 years$4,740$3,789$3,002$2,361$1,844$888
22 years$4,477$3,537$2,767$2,146$1,653$762
23 years$4,237$3,308$2,555$1,955$1,484$655
24 years$4,017$3,099$2,363$1,783$1,334$563
25 years$3,816$2,909$2,188$1,628$1,200$485
26 years$3,630$2,734$2,030$1,489$1,081$418
27 years$3,458$2,573$1,885$1,363$975$360
28 years$3,299$2,424$1,752$1,248$879$310
29 years$3,151$2,287$1,630$1,145$794$267
30 years$3,013$2,160$1,519$1,051$717$231
31 years$2,884$2,042$1,416$965$649$199
32 years$2,763$1,932$1,321$887$587$172
33 years$2,650$1,829$1,233$816$531$148
34 years$2,544$1,734$1,152$750$481$128
35 years$2,445$1,645$1,077$691$435$111
36 years$2,351$1,561$1,008$636$395$95
37 years$2,262$1,483$943$586$358$82
38 years$2,178$1,409$883$540$324$71
39 years$2,099$1,340$828$498$294$62
40 years$2,023$1,275$776$459$267$53
41 years$1,952$1,213$727$424$242$46
42 years$1,884$1,156$682$391$220$40
43 years$1,820$1,101$640$361$199$34
44 years$1,758$1,050$601$333$181$30
45 years$1,700$1,001$564$308$164$26
46 years$1,644$955$530$284$149$22
47 years$1,591$911$498$263$135$19
48 years$1,540$870$468$243$123$17
49 years$1,492$831$440$224$112$14
50 years$1,445$793$414$207$101$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,480,000, adding $3,910 every year, while hoping to spend $39,853 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: 45/28/27 Blend
57$1,480,000$1,480,000$1,480,000$1,480,000
58$1,634,993$1,556,553$1,533,613$1,695,654
59$1,759,359$1,590,421$1,542,586$1,772,967
60$1,895,075$1,624,613$1,550,524$1,852,618
61$2,043,256$1,659,102$1,557,349$1,938,230
62$2,205,130$1,693,860$1,562,983$2,030,382
63$2,382,049$1,728,855$1,567,339$2,129,712
64$2,575,502$1,764,053$1,570,328$2,236,922
65$2,787,128$1,799,416$1,571,859$2,352,787
66$3,018,730$1,834,903$1,571,831$2,478,165
67$3,272,296$1,870,469$1,570,143$2,613,998
68$3,550,014$1,906,066$1,566,687$2,761,327
69$3,854,294$1,941,641$1,561,349$2,921,300
70$4,187,789$1,977,138$1,554,011$3,095,184
71$4,553,421$2,012,496$1,544,549$3,284,375
72$4,954,410$2,047,648$1,532,831$3,490,414
73$5,394,301$2,082,524$1,518,722$3,715,000
74$5,876,999$2,117,047$1,502,079$3,960,007
75$6,406,805$2,151,135$1,482,750$4,227,502
76$6,988,458$2,184,698$1,460,581$4,519,767
77$7,627,176$2,217,644$1,435,406$4,839,314
78$8,328,709$2,249,870$1,407,053$5,188,918
79$9,099,390$2,281,266$1,375,342$5,571,638
80$9,946,198$2,311,718$1,340,086$5,990,846
81$10,876,817$2,341,100$1,301,086$6,450,264
82$11,899,718$2,369,279$1,258,138$6,953,994
83$13,024,228$2,396,112$1,211,024$7,506,560
84$14,260,627$2,421,449$1,159,521$8,112,954
85$15,620,238$2,445,127$1,103,392$8,778,676
86$17,115,538$2,466,974$1,042,391$9,509,796
87$18,760,272$2,486,806$976,261$10,313,003
88$20,569,587$2,504,426$904,732$11,195,676
89$22,560,168$2,519,626$827,524$12,165,951
90$24,750,401$2,532,184$744,342$13,232,797
91$27,160,545$2,541,864$654,881$14,406,107
92$29,812,920$2,548,414$558,819$15,696,785
93$32,732,120$2,551,569$455,821$17,116,858
94$35,945,245$2,551,044$345,540$18,679,582
95$39,482,153$2,546,539$227,609$20,399,575
96$43,375,747$2,537,733$101,648$22,292,953
97$47,662,279$2,524,288$0$24,377,483
98$52,381,697$2,505,844$0$26,682,197
99$57,578,018$2,482,018$0$29,251,113
100$63,299,746$2,452,407$0$32,078,849