Can I retire at age 58 with 1,490,000?

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$123,043$121,947$120,878$119,834$118,815$117,087
2 years$60,912$59,778$58,678$57,612$56,578$54,842
3 years$40,205$39,065$37,969$36,913$35,896$34,204
4 years$29,853$28,717$27,632$26,594$25,601$23,967
5 years$23,644$22,515$21,443$20,426$19,462$17,890
6 years$19,505$18,385$17,329$16,335$15,399$13,892
7 years$16,551$15,440$14,401$13,430$12,524$11,081
8 years$14,336$13,235$12,213$11,266$10,390$9,012
9 years$12,614$11,523$10,519$9,596$8,750$7,436
10 years$11,237$10,157$9,171$8,272$7,455$6,204
11 years$10,111$9,042$8,074$7,199$6,412$5,222
12 years$9,174$8,116$7,165$6,315$5,556$4,427
13 years$8,381$7,334$6,402$5,575$4,845$3,775
14 years$7,703$6,667$5,752$4,949$4,247$3,234
15 years$7,115$6,090$5,193$4,413$3,740$2,782
16 years$6,601$5,588$4,708$3,952$3,305$2,401
17 years$6,148$5,146$4,284$3,551$2,930$2,078
18 years$5,746$4,755$3,911$3,200$2,606$1,802
19 years$5,387$4,407$3,580$2,891$2,322$1,567
20 years$5,064$4,095$3,286$2,619$2,074$1,364
21 years$4,772$3,815$3,022$2,377$1,856$1,190
22 years$4,507$3,561$2,786$2,161$1,664$1,039
23 years$4,266$3,330$2,572$1,968$1,494$908
24 years$4,045$3,120$2,379$1,795$1,343$795
25 years$3,841$2,928$2,203$1,639$1,208$696
26 years$3,654$2,752$2,043$1,499$1,088$610
27 years$3,481$2,590$1,897$1,372$981$535
28 years$3,321$2,441$1,764$1,257$885$470
29 years$3,172$2,302$1,641$1,153$799$412
30 years$3,033$2,174$1,529$1,058$722$362
31 years$2,903$2,055$1,425$972$653$318
32 years$2,782$1,945$1,330$893$591$280
33 years$2,668$1,842$1,242$821$535$246
34 years$2,562$1,746$1,160$755$484$216
35 years$2,461$1,656$1,085$695$438$190
36 years$2,366$1,572$1,015$640$397$167
37 years$2,277$1,493$950$590$360$147
38 years$2,193$1,418$889$544$326$130
39 years$2,113$1,349$833$502$296$114
40 years$2,037$1,283$781$463$268$100
41 years$1,965$1,222$732$427$244$88
42 years$1,897$1,163$687$394$221$78
43 years$1,832$1,108$645$364$201$69
44 years$1,770$1,057$605$336$182$60
45 years$1,711$1,008$568$310$165$53
46 years$1,655$961$534$286$150$47
47 years$1,602$917$501$265$136$41
48 years$1,551$876$471$244$124$36
49 years$1,502$836$443$226$112$32
50 years$1,455$799$416$209$102$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,490,000, adding $3,113 every year, while hoping to spend $38,160 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: 31/42/27 Blend
57$1,490,000$1,490,000$1,490,000$1,490,000
58$1,645,191$1,566,221$1,543,126$1,682,481
59$1,772,399$1,602,364$1,554,219$1,747,640
60$1,911,302$1,638,999$1,564,404$1,814,153
61$2,063,055$1,676,110$1,573,612$1,884,996
62$2,228,926$1,713,678$1,581,767$1,960,571
63$2,410,311$1,751,684$1,588,791$2,041,327
64$2,608,751$1,790,104$1,594,603$2,127,755
65$2,825,937$1,828,913$1,599,116$2,220,400
66$3,063,736$1,868,083$1,602,240$2,319,860
67$3,324,202$1,907,583$1,603,880$2,426,798
68$3,609,596$1,947,380$1,603,935$2,541,944
69$3,922,409$1,987,436$1,602,301$2,666,103
70$4,265,385$2,027,711$1,598,869$2,800,164
71$4,641,546$2,068,161$1,593,523$2,945,108
72$5,054,220$2,108,736$1,586,141$3,102,016
73$5,507,072$2,149,386$1,576,599$3,272,083
74$6,004,141$2,190,054$1,564,763$3,456,627
75$6,549,874$2,230,677$1,550,493$3,657,102
76$7,149,171$2,271,191$1,533,645$3,875,110
77$7,807,430$2,311,523$1,514,065$4,112,423
78$8,530,596$2,351,595$1,491,595$4,370,993
79$9,325,220$2,391,326$1,466,066$4,652,974
80$10,198,517$2,430,626$1,437,304$4,960,744
81$11,158,437$2,469,398$1,405,125$5,296,925
82$12,213,739$2,507,539$1,369,338$5,664,411
83$13,374,071$2,544,940$1,329,741$6,066,392
84$14,650,065$2,581,481$1,286,126$6,506,391
85$16,053,434$2,617,035$1,238,273$6,988,291
86$17,597,081$2,651,467$1,185,953$7,516,377
87$19,295,226$2,684,631$1,128,924$8,095,376
88$21,163,533$2,716,372$1,066,938$8,730,502
89$23,219,264$2,746,525$999,731$9,427,504
90$25,481,437$2,774,913$927,030$10,192,726
91$27,971,006$2,801,346$848,548$11,033,164
92$30,711,061$2,825,624$763,986$11,956,533
93$33,727,042$2,847,533$673,033$12,971,343
94$37,046,982$2,866,844$575,361$14,086,979
95$40,701,769$2,883,314$470,631$15,313,791
96$44,725,439$2,896,686$358,486$16,663,194
97$49,155,493$2,906,683$238,555$18,147,774
98$54,033,257$2,913,014$110,450$19,781,413
99$59,404,265$2,915,368$0$21,579,415
100$65,318,695$2,913,415$0$23,566,226