Can I retire at age 58 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$93,314$92,483$91,672$90,881$90,108$88,835
2 years$46,195$45,335$44,501$43,693$42,908$41,628
3 years$30,491$29,627$28,795$27,994$27,223$25,975
4 years$22,640$21,779$20,955$20,168$19,416$18,210
5 years$17,931$17,075$16,262$15,491$14,759$13,600
6 years$14,793$13,943$13,142$12,388$11,679$10,567
7 years$12,552$11,709$10,921$10,185$9,498$8,433
8 years$10,872$10,037$9,262$8,544$7,879$6,862
9 years$9,566$8,739$7,978$7,278$6,636$5,665
10 years$8,522$7,703$6,955$6,273$5,654$4,730
11 years$7,668$6,858$6,123$5,460$4,862$3,984
12 years$6,957$6,155$5,434$4,789$4,214$3,380
13 years$6,356$5,562$4,855$4,228$3,674$2,884
14 years$5,842$5,056$4,362$3,753$3,221$2,472
15 years$5,396$4,619$3,938$3,347$2,836$2,128
16 years$5,006$4,238$3,571$2,997$2,506$1,837
17 years$4,663$3,903$3,249$2,693$2,222$1,591
18 years$4,358$3,606$2,966$2,427$1,976$1,381
19 years$4,085$3,342$2,715$2,193$1,761$1,202
20 years$3,841$3,106$2,492$1,986$1,573$1,047
21 years$3,619$2,893$2,292$1,802$1,408$914
22 years$3,418$2,700$2,113$1,639$1,262$799
23 years$3,235$2,526$1,951$1,492$1,133$699
24 years$3,067$2,366$1,804$1,361$1,018$612
25 years$2,913$2,221$1,671$1,243$916$536
26 years$2,771$2,087$1,550$1,137$825$471
27 years$2,640$1,964$1,439$1,040$744$413
28 years$2,519$1,851$1,338$953$671$363
29 years$2,405$1,746$1,245$874$606$319
30 years$2,300$1,649$1,160$802$548$280
31 years$2,202$1,559$1,081$737$495$246
32 years$2,110$1,475$1,009$677$448$217
33 years$2,024$1,397$942$623$405$191
34 years$1,943$1,324$880$573$367$168
35 years$1,866$1,256$823$527$332$148
36 years$1,795$1,192$770$486$301$130
37 years$1,727$1,132$720$448$273$115
38 years$1,663$1,076$675$413$248$101
39 years$1,602$1,023$632$380$224$89
40 years$1,545$973$592$351$204$78
41 years$1,490$926$555$324$185$69
42 years$1,439$882$521$299$168$61
43 years$1,389$841$489$276$152$54
44 years$1,343$801$459$255$138$47
45 years$1,298$764$431$235$125$42
46 years$1,255$729$405$217$114$37
47 years$1,215$696$380$201$103$32
48 years$1,176$664$357$185$94$29
49 years$1,139$634$336$171$85$25
50 years$1,103$606$316$158$77$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,130,000, adding $4,284 every year, while hoping to spend $46,977 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: 46/41/13 Blend
57$1,130,000$1,130,000$1,130,000$1,130,000
58$1,249,679$1,189,789$1,172,274$1,302,389
59$1,327,163$1,198,105$1,161,562$1,347,687
60$1,410,976$1,205,255$1,148,917$1,391,662
61$1,501,714$1,211,131$1,134,224$1,438,328
62$1,600,032$1,215,619$1,117,363$1,487,952
63$1,706,650$1,218,600$1,098,210$1,540,831
64$1,822,361$1,219,944$1,076,633$1,597,293
65$1,948,036$1,219,515$1,052,494$1,657,704
66$2,084,633$1,217,169$1,025,650$1,722,468
67$2,233,207$1,212,752$995,951$1,792,032
68$2,394,918$1,206,100$963,239$1,866,895
69$2,571,042$1,197,041$927,349$1,947,606
70$2,762,983$1,185,391$888,111$2,034,776
71$2,972,288$1,170,956$845,343$2,129,080
72$3,200,657$1,153,529$798,858$2,231,267
73$3,449,964$1,132,892$748,460$2,342,167
74$3,722,270$1,108,813$693,942$2,462,697
75$4,019,844$1,081,047$635,092$2,593,873
76$4,345,184$1,049,334$571,683$2,736,821
77$4,701,041$1,013,400$503,483$2,892,784
78$5,090,445$972,954$430,247$3,063,142
79$5,516,729$927,687$351,719$3,249,417
80$5,983,566$877,275$267,633$3,453,296
81$6,495,001$821,373$177,710$3,676,643
82$7,055,487$759,616$81,659$3,921,522
83$7,669,930$691,620$0$4,190,211
84$8,343,732$616,979$0$4,488,125
85$9,082,843$535,261$0$4,827,433
86$9,893,816$446,012$0$5,199,925
87$10,783,872$348,753$0$5,609,052
88$11,760,961$242,976$0$6,058,628
89$12,833,843$128,145$0$6,552,862
90$14,012,166$3,696$0$7,096,402
91$15,306,561$0$0$7,694,379
92$16,728,736$0$0$8,411,546
93$18,291,592$0$0$9,201,629
94$20,009,339$0$0$10,070,161
95$21,897,635$0$0$11,025,077
96$23,973,728$0$0$12,075,119
97$26,256,623$0$0$13,229,918
98$28,767,256$0$0$14,500,086
99$31,528,697$0$0$15,897,313
100$34,566,360$0$0$17,434,481