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

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$123,043$121,947$120,878$119,834$118,815$115,150
2 years$60,912$59,778$58,678$57,612$56,578$52,918
3 years$40,205$39,065$37,969$36,913$35,896$32,355
4 years$29,853$28,717$27,632$26,594$25,601$22,207
5 years$23,644$22,515$21,443$20,426$19,462$16,223
6 years$19,505$18,385$17,329$16,335$15,399$12,319
7 years$16,551$15,440$14,401$13,430$12,524$9,602
8 years$14,336$13,235$12,213$11,266$10,390$7,624
9 years$12,614$11,523$10,519$9,596$8,750$6,138
10 years$11,237$10,157$9,171$8,272$7,455$4,993
11 years$10,111$9,042$8,074$7,199$6,412$4,095
12 years$9,174$8,116$7,165$6,315$5,556$3,380
13 years$8,381$7,334$6,402$5,575$4,845$2,804
14 years$7,703$6,667$5,752$4,949$4,247$2,336
15 years$7,115$6,090$5,193$4,413$3,740$1,953
16 years$6,601$5,588$4,708$3,952$3,305$1,637
17 years$6,148$5,146$4,284$3,551$2,930$1,375
18 years$5,746$4,755$3,911$3,200$2,606$1,158
19 years$5,387$4,407$3,580$2,891$2,322$976
20 years$5,064$4,095$3,286$2,619$2,074$824
21 years$4,772$3,815$3,022$2,377$1,856$696
22 years$4,507$3,561$2,786$2,161$1,664$589
23 years$4,266$3,330$2,572$1,968$1,494$499
24 years$4,045$3,120$2,379$1,795$1,343$423
25 years$3,841$2,928$2,203$1,639$1,208$358
26 years$3,654$2,752$2,043$1,499$1,088$304
27 years$3,481$2,590$1,897$1,372$981$258
28 years$3,321$2,441$1,764$1,257$885$219
29 years$3,172$2,302$1,641$1,153$799$186
30 years$3,033$2,174$1,529$1,058$722$158
31 years$2,903$2,055$1,425$972$653$134
32 years$2,782$1,945$1,330$893$591$114
33 years$2,668$1,842$1,242$821$535$97
34 years$2,562$1,746$1,160$755$484$82
35 years$2,461$1,656$1,085$695$438$70
36 years$2,366$1,572$1,015$640$397$59
37 years$2,277$1,493$950$590$360$50
38 years$2,193$1,418$889$544$326$43
39 years$2,113$1,349$833$502$296$36
40 years$2,037$1,283$781$463$268$31
41 years$1,965$1,222$732$427$244$26
42 years$1,897$1,163$687$394$221$22
43 years$1,832$1,108$645$364$201$19
44 years$1,770$1,057$605$336$182$16
45 years$1,711$1,008$568$310$165$14
46 years$1,655$961$534$286$150$12
47 years$1,602$917$501$265$136$10
48 years$1,551$876$471$244$124$8
49 years$1,502$836$443$226$112$7
50 years$1,455$799$416$209$102$6

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 $3,931 every year, while hoping to spend $26,899 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: 33/50/17 Blend
57$1,490,000$1,490,000$1,490,000$1,490,000
58$1,646,035$1,567,065$1,543,970$1,691,531
59$1,785,310$1,615,231$1,567,072$1,773,589
60$1,937,890$1,664,855$1,590,048$1,859,198
61$2,105,103$1,715,981$1,612,862$1,950,890
62$2,288,412$1,768,653$1,635,482$2,049,214
63$2,489,430$1,822,917$1,657,870$2,154,774
64$2,709,930$1,878,819$1,679,988$2,268,233
65$2,951,870$1,936,407$1,701,794$2,390,320
66$3,217,400$1,995,731$1,723,244$2,521,837
67$3,508,895$2,056,842$1,744,293$2,663,664
68$3,828,967$2,119,792$1,764,891$2,816,772
69$4,180,495$2,184,634$1,784,988$2,982,225
70$4,566,649$2,251,425$1,804,528$3,161,197
71$4,990,922$2,320,220$1,823,456$3,354,978
72$5,457,164$2,391,078$1,841,709$3,564,987
73$5,969,613$2,464,059$1,859,224$3,792,786
74$6,532,940$2,539,225$1,875,934$4,040,095
75$7,152,290$2,616,638$1,891,769$4,308,804
76$7,833,334$2,696,363$1,906,653$4,600,998
77$8,582,317$2,778,467$1,920,509$4,918,969
78$9,406,120$2,863,019$1,933,253$5,265,241
79$10,312,326$2,950,089$1,944,799$5,642,592
80$11,309,289$3,039,749$1,955,055$6,054,083
81$12,406,213$3,132,073$1,963,926$6,503,084
82$13,613,240$3,227,137$1,971,310$6,993,303
83$14,941,543$3,325,020$1,977,102$7,528,829
84$16,403,435$3,425,801$1,981,190$8,114,159
85$18,012,483$3,529,563$1,983,458$8,754,252
86$19,783,635$3,636,390$1,983,782$9,454,566
87$21,733,361$3,746,369$1,982,034$10,221,113
88$23,879,811$3,859,588$1,978,079$11,060,517
89$26,242,983$3,976,138$1,971,776$11,980,073
90$28,844,912$4,096,114$1,962,975$12,987,817
91$31,709,880$4,219,611$1,951,522$14,092,604
92$34,864,643$4,346,727$1,937,253$15,304,185
93$38,338,682$4,477,562$1,919,997$16,633,306
94$42,164,486$4,612,221$1,899,575$18,091,804
95$46,377,852$4,750,809$1,875,799$19,692,719
96$51,018,229$4,893,434$1,848,474$21,450,420
97$56,129,083$5,040,207$1,817,393$23,380,737
98$61,758,315$5,191,243$1,782,341$25,501,110
99$67,958,707$5,346,657$1,743,093$27,830,757
100$74,788,421$5,506,570$1,699,413$30,390,850