Can I retire at age 58 with 1,150,000?

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 $1,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$94,966$94,120$93,295$92,489$91,703$90,370
2 years$47,013$46,137$45,289$44,466$43,668$42,328
3 years$31,031$30,151$29,305$28,490$27,705$26,399
4 years$23,041$22,164$21,326$20,525$19,759$18,498
5 years$18,248$17,377$16,550$15,765$15,021$13,808
6 years$15,055$14,190$13,375$12,608$11,885$10,722
7 years$12,774$11,916$11,115$10,365$9,666$8,553
8 years$11,064$10,215$9,426$8,695$8,019$6,955
9 years$9,735$8,894$8,119$7,407$6,753$5,739
10 years$8,673$7,839$7,078$6,384$5,754$4,788
11 years$7,804$6,979$6,231$5,556$4,949$4,031
12 years$7,081$6,264$5,530$4,874$4,288$3,417
13 years$6,469$5,661$4,941$4,303$3,739$2,914
14 years$5,945$5,145$4,439$3,820$3,278$2,496
15 years$5,491$4,700$4,008$3,406$2,886$2,147
16 years$5,095$4,313$3,634$3,050$2,551$1,853
17 years$4,745$3,972$3,307$2,740$2,262$1,603
18 years$4,435$3,670$3,019$2,470$2,011$1,391
19 years$4,158$3,401$2,763$2,232$1,792$1,209
20 years$3,908$3,161$2,536$2,021$1,601$1,053
21 years$3,683$2,944$2,333$1,834$1,433$918
22 years$3,479$2,748$2,150$1,668$1,284$802
23 years$3,292$2,570$1,985$1,519$1,153$701
24 years$3,122$2,408$1,836$1,385$1,036$613
25 years$2,965$2,260$1,700$1,265$932$537
26 years$2,820$2,124$1,577$1,157$840$471
27 years$2,687$1,999$1,464$1,059$757$413
28 years$2,563$1,884$1,361$970$683$362
29 years$2,448$1,777$1,267$890$617$318
30 years$2,341$1,678$1,180$816$557$279
31 years$2,241$1,586$1,100$750$504$246
32 years$2,147$1,501$1,026$689$456$216
33 years$2,059$1,422$958$634$413$190
34 years$1,977$1,347$895$583$374$167
35 years$1,900$1,278$837$537$338$147
36 years$1,826$1,213$783$494$307$129
37 years$1,758$1,152$733$455$278$114
38 years$1,692$1,095$686$420$252$100
39 years$1,631$1,041$643$387$228$88
40 years$1,572$990$603$357$207$77
41 years$1,517$943$565$329$188$68
42 years$1,464$898$530$304$171$60
43 years$1,414$856$498$281$155$53
44 years$1,366$816$467$259$141$47
45 years$1,321$778$439$239$128$41
46 years$1,278$742$412$221$116$36
47 years$1,236$708$387$204$105$32
48 years$1,197$676$364$189$96$28
49 years$1,159$645$342$174$87$25
50 years$1,123$617$321$161$79$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,150,000, adding $3,717 every year, while hoping to spend $59,948 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: 62/17/21 Blend
57$1,150,000$1,150,000$1,150,000$1,150,000
58$1,271,134$1,210,184$1,192,359$1,342,784
59$1,337,006$1,205,699$1,168,519$1,387,131
60$1,407,587$1,198,985$1,141,871$1,428,532
61$1,483,295$1,189,869$1,112,258$1,472,369
62$1,564,587$1,178,169$1,079,515$1,518,886
63$1,651,966$1,163,690$1,043,470$1,568,356
64$1,745,983$1,146,228$1,003,942$1,621,078
65$1,847,244$1,125,564$960,745$1,677,387
66$1,956,413$1,101,466$913,680$1,737,654
67$2,074,221$1,073,692$862,542$1,802,290
68$2,201,471$1,041,982$807,116$1,871,750
69$2,339,043$1,006,062$747,178$1,946,540
70$2,487,909$965,642$682,491$2,027,218
71$2,649,133$920,415$612,811$2,114,407
72$2,823,886$870,057$537,882$2,208,792
73$3,013,457$814,225$457,436$2,311,135
74$3,219,263$752,555$371,194$2,422,278
75$3,442,862$684,664$278,863$2,543,155
76$3,685,967$610,147$180,138$2,674,799
77$3,950,466$528,574$74,702$2,818,352
78$4,238,431$439,492$0$2,975,080
79$4,552,148$342,424$0$3,154,856
80$4,894,127$236,863$0$3,369,168
81$5,267,135$122,276$0$3,603,054
82$5,674,214$0$0$3,858,492
83$6,118,716$0$0$4,138,020
84$6,604,326$0$0$4,468,469
85$7,135,107$0$0$4,829,738
86$7,715,527$0$0$5,224,878
87$8,350,508$0$0$5,657,252
88$9,045,468$0$0$6,130,561
89$9,806,376$0$0$6,648,879
90$10,639,803$0$0$7,216,695
91$11,552,983$0$0$7,838,952
92$12,553,888$0$0$8,521,093
93$13,651,293$0$0$9,269,114
94$14,854,867$0$0$10,089,616
95$16,175,256$0$0$10,989,874
96$17,624,188$0$0$11,977,899
97$19,214,581$0$0$13,062,515
98$20,960,666$0$0$14,253,441
99$22,878,116$0$0$15,561,387
100$24,984,200$0$0$16,998,147