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%17.1%
1 years$82,579$81,843$81,126$80,425$79,741$77,437
2 years$40,881$40,119$39,381$38,666$37,972$35,669
3 years$26,983$26,218$25,482$24,774$24,091$21,861
4 years$20,036$19,273$18,545$17,848$17,182$15,042
5 years$15,868$15,111$14,391$13,709$13,061$11,018
6 years$13,091$12,339$11,630$10,963$10,335$8,390
7 years$11,108$10,362$9,665$9,013$8,405$6,558
8 years$9,621$8,882$8,197$7,561$6,973$5,222
9 years$8,466$7,734$7,060$6,440$5,872$4,217
10 years$7,542$6,817$6,155$5,552$5,003$3,441
11 years$6,786$6,069$5,419$4,832$4,303$2,831
12 years$6,157$5,447$4,809$4,238$3,729$2,345
13 years$5,625$4,922$4,296$3,742$3,252$1,952
14 years$5,170$4,474$3,860$3,321$2,850$1,632
15 years$4,775$4,087$3,485$2,962$2,510$1,369
16 years$4,430$3,750$3,160$2,652$2,218$1,151
17 years$4,126$3,454$2,875$2,383$1,967$971
18 years$3,857$3,191$2,625$2,148$1,749$820
19 years$3,615$2,958$2,403$1,940$1,559$694
20 years$3,399$2,748$2,205$1,757$1,392$588
21 years$3,203$2,560$2,029$1,595$1,246$499
22 years$3,025$2,390$1,870$1,450$1,117$424
23 years$2,863$2,235$1,726$1,321$1,002$360
24 years$2,714$2,094$1,596$1,205$901$307
25 years$2,578$1,965$1,479$1,100$811$261
26 years$2,453$1,847$1,371$1,006$730$222
27 years$2,336$1,738$1,273$921$658$189
28 years$2,229$1,638$1,184$844$594$161
29 years$2,129$1,545$1,102$774$537$137
30 years$2,036$1,459$1,026$710$485$117
31 years$1,949$1,380$957$652$438$100
32 years$1,867$1,305$893$599$396$85
33 years$1,791$1,236$833$551$359$73
34 years$1,719$1,172$779$507$325$62
35 years$1,652$1,111$728$467$294$53
36 years$1,588$1,055$681$430$267$45
37 years$1,528$1,002$637$396$242$39
38 years$1,472$952$597$365$219$33
39 years$1,418$905$559$337$199$28
40 years$1,367$861$524$310$180$24
41 years$1,319$820$492$286$163$21
42 years$1,273$781$461$264$148$18
43 years$1,230$744$433$244$135$15
44 years$1,188$709$406$225$122$13
45 years$1,149$676$381$208$111$11
46 years$1,111$645$358$192$101$9
47 years$1,075$616$336$178$91$8
48 years$1,041$588$316$164$83$7
49 years$1,008$561$297$152$75$6
50 years$976$536$279$140$69$5

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 $6,989 every year, while hoping to spend $56,389 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: 41/42/17 Blend
57$1,000,000$1,000,000$1,000,000$1,000,000
58$1,109,209$1,056,209$1,040,709$1,148,864
59$1,162,351$1,047,966$1,015,575$1,169,403
60$1,219,023$1,037,429$987,710$1,185,600
61$1,279,527$1,024,426$956,961$1,201,938
62$1,344,191$1,008,775$923,172$1,218,459
63$1,413,377$990,283$886,176$1,235,213
64$1,487,480$968,746$845,802$1,252,257
65$1,566,934$943,946$801,868$1,269,661
66$1,652,217$915,655$754,185$1,287,506
67$1,743,850$883,629$702,558$1,305,887
68$1,842,407$847,611$646,778$1,324,914
69$1,948,519$807,331$586,632$1,344,713
70$2,062,878$762,499$521,893$1,365,432
71$2,186,242$712,813$452,328$1,387,238
72$2,319,448$657,950$377,690$1,410,325
73$2,463,412$597,570$297,723$1,434,911
74$2,619,143$531,314$212,160$1,461,248
75$2,787,750$458,802$120,721$1,489,620
76$2,970,449$379,632$23,114$1,520,350
77$3,168,583$293,382$0$1,553,802
78$3,383,623$199,602$0$1,605,092
79$3,617,190$97,820$0$1,665,412
80$3,871,067$0$0$1,731,152
81$4,147,214$0$0$1,808,725
82$4,447,790$0$0$1,942,481
83$4,775,167$0$0$2,088,282
84$5,131,958$0$0$2,247,307
85$5,521,038$0$0$2,420,851
86$5,945,572$0$0$2,610,344
87$6,409,041$0$0$2,817,355
88$6,915,281$0$0$3,043,615
89$7,468,511$0$0$3,291,029
90$8,073,379$0$0$3,561,694
91$8,735,001$0$0$3,857,918
92$9,459,009$0$0$4,182,244
93$10,251,606$0$0$4,537,472
94$11,119,624$0$0$4,926,686
95$12,070,583$0$0$5,353,281
96$13,112,769$0$0$5,820,997
97$14,255,303$0$0$6,333,953
98$15,508,234$0$0$6,896,686
99$16,882,630$0$0$7,514,193
100$18,390,679$0$0$8,191,977