Can I retire at age 58 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$94,140$93,302$92,483$91,685$90,905$89,547
2 years$46,604$45,736$44,895$44,079$43,288$41,923
3 years$30,761$29,889$29,050$28,242$27,464$26,134
4 years$22,841$21,972$21,141$20,347$19,587$18,303
5 years$18,090$17,226$16,406$15,628$14,890$13,655
6 years$14,924$14,066$13,259$12,498$11,782$10,598
7 years$12,663$11,813$11,018$10,275$9,582$8,449
8 years$10,968$10,126$9,344$8,620$7,949$6,867
9 years$9,651$8,816$8,048$7,342$6,694$5,663
10 years$8,597$7,771$7,017$6,329$5,704$4,722
11 years$7,736$6,918$6,177$5,508$4,906$3,972
12 years$7,019$6,209$5,482$4,831$4,251$3,365
13 years$6,413$5,612$4,898$4,265$3,707$2,867
14 years$5,893$5,101$4,401$3,786$3,250$2,455
15 years$5,444$4,660$3,973$3,377$2,861$2,110
16 years$5,051$4,275$3,602$3,023$2,529$1,820
17 years$4,704$3,937$3,278$2,717$2,242$1,574
18 years$4,397$3,638$2,992$2,448$1,994$1,364
19 years$4,122$3,372$2,739$2,212$1,777$1,185
20 years$3,874$3,133$2,514$2,004$1,587$1,031
21 years$3,651$2,918$2,313$1,818$1,420$899
22 years$3,448$2,724$2,131$1,653$1,273$784
23 years$3,264$2,548$1,968$1,506$1,143$685
24 years$3,094$2,387$1,820$1,373$1,027$599
25 years$2,939$2,240$1,686$1,254$924$524
26 years$2,796$2,106$1,563$1,147$833$459
27 years$2,664$1,982$1,452$1,050$751$402
28 years$2,541$1,867$1,350$962$677$353
29 years$2,427$1,762$1,256$882$612$309
30 years$2,321$1,664$1,170$809$553$272
31 years$2,221$1,573$1,091$743$500$238
32 years$2,129$1,488$1,018$683$452$209
33 years$2,042$1,409$950$628$409$184
34 years$1,960$1,336$888$578$370$162
35 years$1,883$1,267$830$532$335$142
36 years$1,811$1,202$776$490$304$125
37 years$1,742$1,142$727$451$275$110
38 years$1,678$1,085$681$416$250$97
39 years$1,616$1,032$638$384$226$85
40 years$1,559$982$598$354$205$75
41 years$1,504$935$560$327$186$66
42 years$1,451$890$526$301$169$58
43 years$1,402$848$493$278$153$51
44 years$1,354$808$463$257$139$45
45 years$1,309$771$435$237$126$39
46 years$1,267$735$408$219$115$35
47 years$1,226$702$384$202$104$30
48 years$1,186$670$360$187$95$27
49 years$1,149$640$339$173$86$24
50 years$1,113$611$319$160$78$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,140,000, adding $6,042 every year, while hoping to spend $43,299 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: 44/46/10 Blend
57$1,140,000$1,140,000$1,140,000$1,140,000
58$1,262,512$1,202,092$1,184,422$1,314,194
59$1,345,219$1,214,925$1,178,031$1,363,529
60$1,434,910$1,226,935$1,169,974$1,412,084
61$1,532,253$1,238,037$1,160,150$1,463,732
62$1,637,981$1,248,139$1,148,453$1,518,772
63$1,752,900$1,257,143$1,134,771$1,577,538
64$1,877,898$1,264,946$1,118,989$1,640,397
65$2,013,952$1,271,436$1,100,983$1,707,757
66$2,162,135$1,276,496$1,080,625$1,780,070
67$2,323,629$1,280,001$1,057,783$1,857,834
68$2,499,737$1,281,818$1,032,316$1,941,601
69$2,691,888$1,281,806$1,004,077$2,031,982
70$2,901,660$1,279,814$972,913$2,129,655
71$3,130,788$1,275,683$938,664$2,235,366
72$3,381,181$1,269,244$901,162$2,349,943
73$3,654,943$1,260,318$860,232$2,474,301
74$3,954,388$1,248,715$815,690$2,609,451
75$4,282,065$1,234,232$767,346$2,756,514
76$4,640,782$1,216,655$714,998$2,916,726
77$5,033,629$1,195,759$658,439$3,091,455
78$5,464,011$1,171,303$597,448$3,282,214
79$5,935,676$1,143,032$531,798$3,490,673
80$6,452,752$1,110,678$461,250$3,718,680
81$7,019,786$1,073,954$385,555$3,968,277
82$7,641,787$1,032,561$304,454$4,241,720
83$8,324,270$986,177$217,674$4,541,502
84$9,073,311$934,466$124,932$4,870,376
85$9,895,604$877,070$25,933$5,231,384
86$10,798,521$813,611$0$5,627,889
87$11,790,182$743,690$0$6,072,107
88$12,879,534$666,884$0$6,563,137
89$14,076,433$582,748$0$7,102,774
90$15,391,736$490,810$0$7,696,055
91$16,837,404$390,571$0$8,348,537
92$18,426,616$281,505$0$9,066,358
93$20,173,888$163,056$0$9,856,288
94$22,095,217$34,638$0$10,725,799
95$24,208,224$0$0$11,683,137
96$26,532,326$0$0$12,790,231
97$29,088,915$0$0$14,027,515
98$31,901,559$0$0$15,388,881
99$34,996,230$0$0$16,886,919
100$38,401,538$0$0$18,535,500