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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$82,579$81,843$81,126$80,425$79,741$78,974
2 years$40,881$40,119$39,381$38,666$37,972$37,199
3 years$26,983$26,218$25,482$24,774$24,091$23,337
4 years$20,036$19,273$18,545$17,848$17,182$16,452
5 years$15,868$15,111$14,391$13,709$13,061$12,357
6 years$13,091$12,339$11,630$10,963$10,335$9,658
7 years$11,108$10,362$9,665$9,013$8,405$7,756
8 years$9,621$8,882$8,197$7,561$6,973$6,351
9 years$8,466$7,734$7,060$6,440$5,872$5,277
10 years$7,542$6,817$6,155$5,552$5,003$4,435
11 years$6,786$6,069$5,419$4,832$4,303$3,762
12 years$6,157$5,447$4,809$4,238$3,729$3,213
13 years$5,625$4,922$4,296$3,742$3,252$2,761
14 years$5,170$4,474$3,860$3,321$2,850$2,385
15 years$4,775$4,087$3,485$2,962$2,510$2,068
16 years$4,430$3,750$3,160$2,652$2,218$1,799
17 years$4,126$3,454$2,875$2,383$1,967$1,570
18 years$3,857$3,191$2,625$2,148$1,749$1,374
19 years$3,615$2,958$2,403$1,940$1,559$1,205
20 years$3,399$2,748$2,205$1,757$1,392$1,059
21 years$3,203$2,560$2,029$1,595$1,246$932
22 years$3,025$2,390$1,870$1,450$1,117$821
23 years$2,863$2,235$1,726$1,321$1,002$724
24 years$2,714$2,094$1,596$1,205$901$640
25 years$2,578$1,965$1,479$1,100$811$566
26 years$2,453$1,847$1,371$1,006$730$500
27 years$2,336$1,738$1,273$921$658$443
28 years$2,229$1,638$1,184$844$594$393
29 years$2,129$1,545$1,102$774$537$348
30 years$2,036$1,459$1,026$710$485$309
31 years$1,949$1,380$957$652$438$274
32 years$1,867$1,305$893$599$396$243
33 years$1,791$1,236$833$551$359$216
34 years$1,719$1,172$779$507$325$192
35 years$1,652$1,111$728$467$294$170
36 years$1,588$1,055$681$430$267$152
37 years$1,528$1,002$637$396$242$135
38 years$1,472$952$597$365$219$120
39 years$1,418$905$559$337$199$106
40 years$1,367$861$524$310$180$95
41 years$1,319$820$492$286$163$84
42 years$1,273$781$461$264$148$75
43 years$1,230$744$433$244$135$67
44 years$1,188$709$406$225$122$59
45 years$1,149$676$381$208$111$53
46 years$1,111$645$358$192$101$47
47 years$1,075$616$336$178$91$42
48 years$1,041$588$316$164$83$37
49 years$1,008$561$297$152$75$33
50 years$976$536$279$140$69$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,000,000, adding $4,907 every year, while hoping to spend $35,251 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: 57/36/7 Blend
57$1,000,000$1,000,000$1,000,000$1,000,000
58$1,107,062$1,054,062$1,038,562$1,168,185
59$1,182,475$1,068,204$1,035,847$1,224,025
60$1,264,399$1,081,858$1,031,859$1,280,445
61$1,353,461$1,094,962$1,026,520$1,341,046
62$1,450,350$1,107,451$1,019,744$1,406,230
63$1,555,825$1,119,255$1,011,445$1,476,442
64$1,670,721$1,130,300$1,001,530$1,552,171
65$1,795,957$1,140,507$989,903$1,633,958
66$1,932,543$1,149,791$976,464$1,722,398
67$2,081,594$1,158,062$961,107$1,818,150
68$2,244,334$1,165,224$943,721$1,921,938
69$2,422,111$1,171,175$924,191$2,034,564
70$2,616,410$1,175,807$902,395$2,156,909
71$2,828,866$1,179,004$878,208$2,289,948
72$3,061,279$1,180,643$851,496$2,434,756
73$3,315,629$1,180,594$822,121$2,592,519
74$3,594,099$1,178,720$789,938$2,764,543
75$3,899,092$1,174,872$754,795$2,952,273
76$4,233,254$1,168,895$716,535$3,157,300
77$4,599,498$1,160,623$674,992$3,381,380
78$5,001,035$1,149,881$629,992$3,626,450
79$5,441,398$1,136,483$581,354$3,894,648
80$5,924,482$1,120,232$528,891$4,188,331
81$6,454,574$1,100,919$472,404$4,510,100
82$7,036,398$1,078,321$411,687$4,862,824
83$7,675,157$1,052,205$346,525$5,249,666
84$8,376,583$1,022,323$276,693$5,674,117
85$9,146,988$988,411$201,956$6,140,026
86$9,993,329$950,191$122,070$6,651,641
87$10,923,267$907,368$36,777$7,213,643
88$11,945,243$859,632$0$7,831,199
89$13,068,556$806,653$0$8,514,057
90$14,303,452$748,082$0$9,267,643
91$15,661,217$683,551$0$10,096,158
92$17,154,286$612,670$0$11,007,266
93$18,796,361$535,029$0$12,009,417
94$20,602,536$450,191$0$13,111,929
95$22,589,443$357,699$0$14,325,076
96$24,775,406$257,066$0$15,660,185
97$27,180,615$147,780$0$17,129,744
98$29,827,316$29,299$0$18,747,522
99$32,740,021$0$0$20,528,700
100$35,945,736$0$0$22,529,212